Pardee Resources Company: Pardee Secures Jury Verdict Against Utility Company

Core Viewpoint - Pardee Resources Company announced a favorable jury verdict for its subsidiary Big Huff Minerals LLC against a utility company, resulting in a total potential judgment of $74 million, including damages and additional mining costs [1] Group 1: Jury Verdict and Financial Implications - A West Virginia jury awarded $16 million in damages and prejudgment interest to Big Huff and its coal lessee for coal value affected by utility transmission lines [1] - The court previously determined that the coal lessee would incur $58 million in additional costs to mine around the transmission towers, which would be awarded if the plaintiffs prevailed [1] - The total judgment order sought by the plaintiffs is $74 million, which includes the $16 million damages and $58 million in added costs, with an additional potential $10 million in prejudgment interest [1] Group 2: Company’s Position and Future Actions - The company expects the utility to appeal the jury's decision, which may prolong the resolution process [1] - The company intends to vigorously pursue the judgment and believes it will be upheld based on current knowledge and legal counsel [1] - The company's share of the total judgment order is approximately 33% [1]