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On 15 July 2025, Lazarus Corporate Finance Pty Ltd filed a lawsuit against Deutsche Rohstoff AG in the Supreme Court of Western Australia. The dispute centers on a put option related to 2,494,118 CHESS Depository Interests (CDIs) of the Canadian company Almonty Industries Inc., which are listed on the Australian Securities Exchange (ASX).
In June 2022, the two parties entered into a contractual agreement under which Deutsche Rohstoff AG committed to subscribing to the Almonty CDIs by 30 June 2022. In return, the company was granted an option to sell these shares back to Lazarus at AUD 0.90 per share on 30 September 2022—a total value of approximately AUD 2.24 million. The option was duly exercised on time.
Between October 2022 and June 2025, the parties executed a total of nine variation deeds, each postponing the completion date while affirming the validity of the agreement. Under these variations, Lazarus also agreed to pay 5% annual interest on the outstanding amount in addition to the purchase price. The latest agreed deadline for completion was 30 June 2025.
Despite multiple confirmations of the option’s validity in the variation deeds, a representative of Deutsche Rohstoff AG stated in June 2025 that the option had not been exercised. A written request for clarification from the law firm Tudori Hager Grubb went unanswered. On 27 June 2025, Lazarus declared its readiness to complete the purchase and pay the total sum, including approximately AUD 304,000 in interest. However, the transfer of the shares was refused.
Lazarus is now seeking a court declaration confirming the valid exercise of the option, an order requiring the defendant to transfer the Almonty CDIs, or alternatively, damages plus interest.
For investors in Deutsche Rohstoff AG, this lawsuit is not only financially significant—it also puts the contractual reliability of a listed company under scrutiny. The decision by the Supreme Court of Western Australia could set a precedent for future cross-border financial transactions. Investors should monitor the court proceedings and any potential settlement talks closely, as substantial payment obligations and reputational risks may be at stake.
Disclaimer: This piece arrives on HotCopper by way of its Canadian sister site, Stockhouse. Stockhouse held Almonty as a client at the time this article was crafted and published; it was written by Josh Franken.
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