The judges ruling has removed a potential obstacle in any financing plans Kry may have had to move forward with showing VZ they are financially capable of mining LC. Part of the MOC stated it was Kry responsibility to secure financing to mine LC.
The noteholders wanted Kry to sell the equipment and file for arbitration to recoup their investment. If Kry was forced to file for arbitration mining LC would have become a non issue. VZ would have moved in very quickly and started the negative PR machine. Trying to raise the money needed to payoff the noteholders without a resolution to the permitting impasse would have been difficult and costly.
I'm not sure if Kry will ever get to mine LC but IMHO Kry now has the ability to arrange finacing for the project, enter in a JV to mine LC, sell the MOC or company to who ever will mine LC. Any deal that may have been held up because of the court case can now be made. Is there a deal? I don't know but I have to think we will find out soon if the court case was an obstacle in getting anything done.
No matter how you look at it, this is great news.
Bring it home Mr. Fung.
