It’s unlikely that management had too many options to choose from. Developing Leigh Creek internally wasn’t a realistic idea.
However, I’m not happy about the non disclosure of the “buyer”. One would assume those details will be provided after the DD period.
Secondly, what’s to stop the buyer deferring a listing or sale beyond the agreed 6 month period and avoid paying us the bonus? Are there clauses we’re not seeing that ensure we are covered against them dragging their feet?
This announcement is information light, let’s hope they provide greater clarity in time.
Ann: Sale of Leigh Creek Magnesia Project, page-16
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