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Ann: Multiyear offtake extension executed, page-23

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13/07/20

13:24

Post #: 45825321
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Originally posted by h0rc0 ↑

Jiangte is a CCP backed company which took the private placement but were also the "offtaker" and likely behind the collapse of A40 with a view to buy it on the cheap using various shell companies registered in HK, British Virgin Islands and the Caymans .

Now that FIRB has began looking at foreign governments backed companies takeover of Aus resources and scrutinizing everything there is a good chance their bid for A40 will not get approved and since they still need the lithium for the converters they need to extend the offtake agreement and continue buying from GXY.
Hopefully GXY will remember who they are dealing with and not rely on any written agreements made with Jiangte or any other CCP backed companies or they may end up in the same predicament as A40 and will continue to pursue offtake agreements with more reliable and trustworthy buyers as the lithium market begins to pickup.

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I’m happy as long as we don’t have a non-recoverable reliance on any dealings with them i.e. if/when they try to screw us, we won’t be automatically stuffed.
Looks like we’re ok from that perspective, imo.

GXY Price at posting: 87.0¢ Sentiment: Buy Disclosure: Held
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