IN BRIEF: Ecora to release deferred revenue after legal win upheld

Ecora Resources PLC - South and North America-focused royalty and streaming company - Announces ...

Alliance News 4 December, 2023 | 7:52PM
Email Form Facebook Twitter LinkedIn RSS

Ecora Resources PLC - South and North America-focused royalty and streaming company - Announces the Supreme Court of Western Australia, Court of Appeal has upheld the original, favourable in the legal dispute with Quasar Resources Pty Ltd, the owner and operator of the Four Mile uranium mine over which the group has a 1% net smelter return royalty. Following the initial ruling, the group received a settlement payment of around AUD6 million, plus interest, that has been held as deferred income and will be released to the income statement in the fourth quarter. In addition, intends to release a further AUD2.3 million in the fourth quarter relating to accrued royalties, which were subject to the outcome of Quasar's appeal. This does not impact cash balances as these amounts have been received.

Current stock price: 89.90 pence

12-month change: down 37%

By Jeremy Cutler, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

Copyright 2023 Alliance News Ltd. All Rights Reserved.

Email Form Facebook Twitter LinkedIn RSS

Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Ecora Resources PLC 74.70 GBX 0.95 -

About Author

Alliance News

Alliance News provides Morningstar with continuously updating coverage of news affecting listed companies.

© Copyright 2024 Morningstar, Inc. All rights reserved.

Terms of Use        Privacy Policy        Modern Slavery Statement        Cookie Settings        Disclosures