I just had a telephone conversation with MD John H about the Advent matter that was discussed here last week.
John was OK for me to relate here that the relationship with Advent is going well, and in respect of the threatened dispute, Advent's claims are (were!) baseless.
There has been no announcement by CTP on the issue since a), CTP didn't start it and b), CTP doesn't want to agitate matters unnecessarily - in other words it is solely a matter for Advent to pursue, if they pursue it, and CTP won't bother commenting on it - and fair enough to.
CTP sought legal advice on the issue which confirmed my earlier posts, that since this all concerned an MoU, there was nothing to legally stop CTP from withdrawing from discussions about any possible JV or farimin agreement with Advent. CTP did withdraw from discussions and that is the end of the matter.
John confirmed that CTP is in continuing discussions with other parties a this time, (for farmins or whatever), however there are no plans to include Advent in any of those discussions.
At the end of the day Advent's threatened dispute was purely brinkmanship seeking to draw CTP back to the negotiation table - end of story.
Otherwise JH left me with this simple message regarding the company's future based on discussions and planning currently underway - "HOLD"
good luck
CTP Price at posting:
8.1¢ Sentiment: None Disclosure: Held
