Tribune Resources (ASX: TBR) and Rand Mining (ASX: RND) advise that a hearing was held on 24 January 2020 at the Supreme Court of Western Australia for an interlocutory injunction by the Companies.
The application for an injunction was to preserve the status quo pending a trial of the claims by Tribune against EKJV Management Pty Ltd (“EKJVM”), Northern Star (Kanowna) Pty Limited (“Kanowna”) and Gilt-Edged Mining Pty Limited (“GEM”) for breach of the terms of the East Kundana Joint Venture Agreement (“EKJV Agreement”) and an associated, long-standing Ore Treatment Agreement (“OTA”) for the processing of joint venture ore at the Kanowna Belle mill.
EKJVM, Kanowna and GEM are all related corporate entities of Northern Star Resources Limited (ASX: NST). At the hearing, the Northern Star Resources Group of Companies consented to the making of orders permitting Tribune to stockpile its share of surplus ore on the EKJV tenements until it could be removed for processing at third party facilities and offered undertakings in relation to mechanism for the construction of ore stockpiles.
Tribune and Rand will continue to update the market of any further developments, however cautions that it is not possible to predict the outcome of the proceedings at this stage.
