[miningmx.com] – SHAFT Sinkers, a UK-listed mining services business, said it may sell assets in order to offset the cost of arbitration with Eurochem, a legal battle Shaft Sinkers CEO, Alon Davidov told BDLive would be settled in early 2015.
We are confident we will get through this arbitration this year and early 2015, when we’ll have an outcome. After that the company may be in a much better position to access external funding,” Davidov told BDLive.
Shaft Sinkers last week reported a decline in full year profit to £1.4m from £2.3m a year earlier amid some £3.9m in legal expenses. The firm’s cash holdings fell to £1.8m from £7.2m a year earlier, BDLive said.
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