Announcement:
Update on Request for Suspension- Holding Announcement
"The Company is currently preparing the announcement relating to an offtake agreement signed with a 100% owned subsidiary of Burwill Holdings Ltd, taking into account the contents of the articles relating to the Company in the Straits Times and Business Times dated 27 April 2017 and will release the same as soon as may be practicable. "
No mention of tantalum offtake, although it's already been mentioned in articles that it will be Mitsubishi.
Not sure why it's taking so long to prepare the Burwill offtake announcement and why it wasn't a joint announcement with TAW (both should've had the same deal?).
It also seems that the Burwill deal was negotiated with TAW (probably acted as a proxy for AMAL) as
1. there was a condition that TAW must have earned it's 50% interest in Bald Hill project to secure the offtake (hence CR was done)
2. TAW receiving half of the prepayment even though it hasn't been confirmed yet, by an independent auditor, that it had earned into it's 50% lithium rights share
3. TAW was liable for the payback of the offtake prepayment if conditions weren't meet
IMO, kudos to Mark Calderwood for setting up the deal up
