SQZG has received inquiries from Ministry of Commerce (MOC) & Ministry of Land and Resources (MLR) of the People’s Republic of China about Triton’s graphite projects and as such SQZG considers TMG to potentially be of strategic importance for China.
SQZG considers the Ancuabe graphite project could also hold additional significant strategic value and wishes to include the Ancuabe project in the scope of their due diligence program.
A positive outcome from this expanded due diligence process may allow Triton to access additional capital from SQZG to develop the Ancuabe graphite project.
SQZG have sought an extension to the due diligence period of the LOI, for up to six months to incorporate a formal review of the Ancuabe graphite project.
Triton considers this request for the extension of the due diligence period by SQZG to be a positive development and to be an appropriate course of action in order for them to complete a more detailed review.
Within that six month period, the Ancuabe JORC resource should be defined (by Aug/Sep: source AGM) and the DFS close to completion.
The Chinese Government considers TMG to potentially be of strategic importance for China.
Up to 6 months or 90 - 180 days away. Worth waiting for wouldn’t you think?
Please DYOR.
TON Price at posting:
32.0¢ Sentiment: Buy Disclosure: Held
