Lodestar and Vango Resolve JV Dispute

Lodestar Minerals Limited (ASX:LSR) has successfully resolved its dispute with Vango Mining Limited (Vango) regarding outstanding balances owed under their Joint Venture (JV) Agreement. Lodestar had previously initiated legal proceedings to wind up Vango Mining Limited due to their failure to meet financial obligations outlined in the JV Agreement. The specifics of the monetary settlement remain undisclosed, as it is considered confidential, and the amount in question is deemed non-material to Lodestar's ongoing operations. However, it is important to note that a significant financial burden has been alleviated as a result of this resolution.

As part of the settlement, Lodestar and Vango have agreed to terminate the JV Agreement upon reaching a predefined milestone payment. Although the details of this milestone remain undisclosed, both parties will retain their respective tenements as outlined in the initial JV Agreement. This resolution brings an end to the legal dispute and allows both companies to focus on their respective operations without further legal entanglements.

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