So you think TNR will stop work now till WKT call an EGM in about 3 months and get share holder approval ? sure Spid , you really are getting desperate with you blatant lies , it says this agreement will allow continuation and completion of the earth works and civils .
Walkabout Resources (ASX:WKT) or the ‘Company’, is pleased to announce that the earthmoving and civils contractor, TNR, and Lindi Jumbo have reached an agreement that will allow the continuation and completion of the earthworks and civils portion of the Lindi Jumbo Graphite Mine in Tanzania. TNR has agreed to defer payments for work to be completed of up to US$1.4 million.
This will enable acceleration of the civil and concrete works for the installation of the machinery and equipment currently being prepared for despatch from China. In addition, it will allow for the advancement of the tailing storage facility (TSF) before the start of the commissioning of the processing plant.
The outstanding balance of the deferred consideration is repayable on either:
1. the date 9 months after the date of the Agreement;
2. the Project being fully funded to production
3. 90 days following the successful completion of commissioning of the mine on the Project.
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Ann: TNR Provides Vendor Finance to Lindi Jumbo, page-23
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