Bushveld Minerals Limited said it has successfully defended a legal action related to its VFRB-H arm in the High Court.
Garnet Commerce issued a writ against VRFB-H and also Enerox (EHL) alleging a breach of a joint venture agreement.
The alleged breach was in respect of the indirect investment, announced on 27 April 2021, into EHL by Mustang Energy PLC (LSE:MUST) through VRFB-H.
The judge ruled that the investment was not in violation of any agreements, said Bushveld.
Accordingly, the investment by Mustang into VRFB-H, and the investment by VRFB-H into EHL, continue to be in place, said the statement.
Elsewhere, Bushveld and Mustang have agreed to an extension of their agreement until 10 March to review the judgement.