8 Conditions Precedent - 1 down, 7 to go. Hopefully they will all fall like dominos in the very short-term.
o Binding offtake agreement for 50% of the spodumene and pollucite from the Namibe Lithium Project – Tyranna and Sinomine are required to execute a binding offtake agreement within 30 days from execution of the subscription agreements – with a right of first refusal, subject to government and regulatory approvals, for the balance of production in the event that the Phase 2 options are exercised (Offtake Agreement);
o Registration of the transfer of the Namibe Licence (Prospecting Licence No. 001/02/01/T.P/ANG-MIREMPET/2022) from VIG World Angola Lda to TYX-subsidiary, Angolitio Exploração Mineira (SU), Limitada (Angolitio), currently with the Ministry of Mineral Resources, Petroleum and Gas of Angola;
o Sinomine obtaining all necessary Chinese outbound investment regulatory approvals;
o Angolitio and CPS having entered into a royalty agreement;
o Implementation of agreed amendments to AM Mauritius’ constitution;
o Completion of due diligence;
o Each Subscription Agreement is conditional on completion occurring under the other Subscription Agreement;
o Other standard conditions for documents of this nature
Cheers!
Catweasle
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