An announcement with potential, page-72

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darilla

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30/04/21

15:07

Post #: 52850174
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Originally posted by Rickk: ↑

Max and his team in China has made it!

Just read last quarterly report below again:

During the quarter, the Board reported progress on financing and mobilisation to commence construction at the Company's flagship Ancuabe Project. Representatives of Triton's largest shareholder, Jigao International Investment Development Co. Ltd (a subsidiary of Jinan Hi Tech) have engaged with a major Chinese state-owned construction company to assist Triton with discussions on mobilisation, bulk earthworks and financing.
Triton management were advised that the outcome of the meeting was that financing of mobilisation and bulk earthworks for the Ancuabe Project was ata very advanced stage,however, final approval remained subject to detailed terms being negotiated and further senior internal approvals in China

Based on Jigao's announcement today, the senior board members have approved the finance officially subject to final shareholder approval. There are only 3 subsidiaries mentioned in the release and Jigao International Investment Development Co. Ltd is one of them which is our largest shareholder.

From today's quarterly report:

Senior management acknowledges that the financing timeframe is significantly beyond that previously anticipated and assures shareholders that completing financingas soon as possible remains its core focus.

The word 'assure' has been used again here (last time was in Sept 20 quarterly report). So it is double assurance one from the board and one from the senior management. No one would be this silly to assure something unless they are almost 100% certain, right?

Hopefully Jigao shareholder meeting will be held before TON's annual meeting so that our company can release to ASX in time.

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has made what?

TON Price at posting: 4.4¢ Sentiment: None Disclosure: Not Held
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