The announcement is not unexpected - these commercial transactions take time to negotiate with many issues to agree upon, positions to consider, Board approvals required etc. Overall the announcement looks neutral to positive to me with progress being made (alignment on commercial terms) which IMO is a key achievement (commercial terms are often where JV's fall over). The announcement refers to the time extension 'to allow these additional HPA opportunities to be fully considered and potentially incorporated into the binding JV Term Sheet.......' so it sound like they are potentially looking at other HPA opportunities/markets.
GLTA & DYOR
Ann: Mutual Extension to Potential HPA JV Exclusivity Agreement, page-78
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