I am acutally glad to see an ann put out by JRO board to clarify the off-take agreement changes.
According to the ann, it is clear that within 2018, NO products will ship to JRO, and cancelation to JRO's access to any extra products.
They also showed their appreciation to AJM management of understanding their finicancial difficulty, and from my perspective, JRO would also commit to it's allocated off-take volume - 50,000 dmt.
Add this to GFL ann, I personally believe AJM management have profesionally achieved the off-take arragement, and de-risk the uncertainty from JRO financial difficulty. And last but important, this is a three-win situation, well-done AJM team!
Quote:
各方同意，将上述主要条款修改为： 1、每年至少 50,000 干公吨（dmt）的 6％级锂辉石精矿（SC6.0），2018 年 无包销吨位承诺，自 2019 年 1 月 1 日开始起，一共 5 年，每年至少包销 50,000 干公吨（dmt）的 6％级锂辉石精矿。 2、补充协议中关于包销的价格条款和原《包销协议》的条款规定的一致。 3、取消公司对 Altura Lithium 生产的任何额外锂辉石精矿产量的购买权利； 4、任何额外的锂辉石精矿将由公司以双方协议为基础进行商定购买； 5、现有协议的所有其他关键条款保持不变。
Google Translate:
The parties agree to modify the above main terms to:
1. At least 50,000 dry metric tons (dmt) of 6% grade spodumene concentrate (SC6.0) per year, 2018 no underwriting tonnage commitment, since January 1, 2019 Beginning for a total of 5 years, at least 50,000 dry metric tons (dmt) of 6%-grade spodumene concentrate is underwritten each year.
2. The price terms of the underwriting agreement in the Supplemental Agreement are consistent with the provisions of the original Underwriting Agreement.
3. Cancellation of the company's right to purchase any additional spodumene concentrate produced by Altura Lithium;
4. Any additional spodumene concentrate will be negotiated by the company on the basis of mutual agreement;
5. All other existing agreements The key terms remain unchanged.
http://pdf.dfcfw.com/pdf/H2_AN201811121243089795_1.pdf
