Low valuation + possible claimThe stock is valued quite cheaply - but any thoughts on the updated status of the financial claim?
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The Corporation can confirm that activity has increased around the Corporation’s financial claim against Kilembe Mines Limited (KML) in Uganda (see page 6). The Corporation can confirm that the arbitrator and both parties, being the Claimant (Canaf) and the Respondent (KML) have met, and scheduling has been concluded with dates being set for the filing of respective parties’ witness statements. The Corporation expects this matter will reach a conclusion in the first half of 2023.
The legal work, carried out my MMAKS Advocates, Kampala, against KML is at no cost to the Corporation, but any award in favor of the Corporation will be distributed to both MMAKS and Canaf.