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Astron awarded $31 million in claim against The Gambia Astron Corporation Limited (ASX:ATR) ('Astron') refers to its previous announcement of 7 October 2014 and provides a further update in relation to its claim against the Gambian government.


As previously announced, after a successful finding in Astron/Carnegie's favour, Astron and the Gambian government made submissions on damages to the International Centre for Settlement of Investment Disputes ('ICSID').

ICSID has now determined the award including damages in favour of Astron/Carnegie. The determination was for US$18,658,358 in damages for breach of the mining licence, interest of US$993,683, arbitration costs of US$445,860 (minus any sums refunded to Astron by ICSID on its final accounting) and £2,250,000 for legal costs. In total this is approximately AUD$31 million.

As with any judgement, the next step is the expiry of the time for a party to lodge an appeal, and then enforcement. Astron will consider its options for enforcing the judgement against the Gambian government.


For further information please contact:


Kang Rong, Executive Director


+61 3 5385 7088


Joshua Theunissen, Australian Company Secretary


+61 3 5385 7088

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