This is great news indeed for AUZ
- It eliminates any and all ambiguity in prior agreements with MLM over our purchase of Sconi
“the remaining conditions precedent have been waived or deleted from the Sconi SPA accordingly the SCONI SPA in now unconditional”
- It sets the final completion date of 8 Dec 2017 (days from now)
More importantly it can be seen as a clear prelude for the coming off- take and finance partner agreements that are clearly under discussion finalization. The Customers /Off Take Partners and Finance partners for the plant need the Sconi purchase by AUZ completed before any agreements can be signed. Ben obviously needed this finalized with MLM ASAP hence 8 Dec 2017 Sconi purchase completion is great.
We may well get an agreement (subject to receipt of satisfactory samples) before Christmas that would be a nice present for all.
Yes I also read it as an additional A$1 million onto of the agreement of 6 September 2017 (that seems clear from todays announcement – however this is “small beer” in comparison to what I think will increasingly be seen as one of the best mining deals of the decade if not the century.
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- Ann: MLM: SCONI Sale and Purchase Agreement
Ann: MLM: SCONI Sale and Purchase Agreement, page-33
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