Well sorry to see this didn't move today.
I know a number of you wanted out, and I was hoping this would be your day.
Just looking over this, it now would appear Noble gets the 180,000 ton. So it would seem the Sinosteel deal has been canned.
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Under the terms of the Off-take Agreement, the Company will deliver to Noble approx. 180,000 DMT per year of a
minimum 48% manganese lump ore from the Company’s Zambian Manganese Projects.
The Company anticipates the first exports under the Off-take Agreement to commence in the 4th Quarter 2012 with
CIF deliveries to ports in [India, China and the Middle East, or other ports as agreed by the parties.]
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Will be interesting to see the details for the Resolutions, and the margin on this.
"Interest is payable at LIBOR plus a fixed margin per annum"
The market showed complete disinterest in this two day. Only 487k traded.
10m debt funding 10yr offtake w noble group, page-39
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