While I consider today's announcement a step in the right direction, I think what we are seeing here is yet another extension of the 28 February 2022 agreement extension date previously announced, to an open-ended timeline. I think I would have liked to have seen a hard-date rather than an anticipated month. I guess it removes the potential for people to get nervous as we approach the end of February, but opens the door to the SP drifting lower in the coming weeks or months, not to mention delaying my retirement
So, now three of the five original conditions have been waived, leaving:
• CATH obtaining the requisite Chinese regulatory approvals for its investment in the Manono Project;
• entry into a variation deed in respect of the existing offtake agreement with Yibin Tianyi.
1. Can anyone confirm that the first of these was covered in the 30 November 2021 announcement which stated, "The Company confirms that the Condition Precedent requiring CATH to obtain outbound direct investment (ODI) approvals/filings from the relevant PRC authorities has been satisfied"?
2. What about the entry into a variation deed in respect of the existing offtake agreement with Yibin Tianyi? Did I miss that?
