I got 3 things from this NR and all positive:
1) Rio and Star are talking in good faith and Rio has agreed to not form the JVA Management meeting until the court case has been resolved. IMO Rio does not have a leg to stand on and Star can drag this out for awhile. I truly believe as well that Rio has 2 options, Buy us out or finish the agreement with 10 holes, 10 holes, 10 holes and a Feasibility Study. They have completed 0/4 options in my eyes and the judge will see this as well. Yes they spent money but if i ask you to build me a house and you build me a barn and swimming pool I am not paying you as you did not do what the agreement intended.
2) No dilution at .24 as more results are retrieved from Rio our share price will go up and thats a fact. This will allow us when Rio completes all 2 options to pay for 49% of the expenses but much much more will be known and we will not be at .24 with 20 holes released to the market. Dilution is less minimal as share price goes up!
.20 = 200 million shares to fund our 40%
.40 = 100 million shares to fund our 40%
.80 = 50 million shares to fund our 40%
or Rio buys us out!
3) court date is June 29-30 and more can get settled as one check mark has already been settled so far and who knows maybe a couple more from now till the court date.
I think this is good but I am always wrong. We will see what market thinks tomorrow and rest of the week.
I see us moving up and Rio getting and owning 9.9% of the shares over the coming month before they let out the drill results.
Just a dumb guy with a keyboard opinion but it seems they are working together to get this resolved.