Streeter to wait for court judgement

A Western Australian Supreme Court judge has reserved his decision in the battle between Western Areas NL chairman Terry Streeter and a group of businessmen behind unrelated company Western Areas Exploration.

In a hearing this morning, Mr Streeter and fellow Western Areas director David Cooper made an application for Western Areas Exploration to provide security for costs ahead of a trial.

A spokesperson for the court said the judge will hand down his judgment at a date yet to be finalised.

A trial, anticipated for later this year, comes two years after Western Areas Exploration first lodged a writ against Mr Streeter and Mr Cooper.

Western Areas Exploration is seeking a portion of the profits made by Mr Streeter and Mr Cooper after both were allegedly presented with a potential nickel opportunity by three geologists including Julian Hanna.

Western Areas Exploration claims that Mr Streeter and Mr Cooper, who were both on WAE's board, pursued the nickel prospect to float Western Areas NL which now has a market capitalisation of over $1.3 billion.

Its understood Lex Brailey, Garry Connell, Guy LeClezio and Gavin Redmond are the some of the businessmen behind Western Areas Exploration.