Fine print says otherwise.
Plenty of things not to like about this incident:
- Legal costs
- Cap raise inadvertently for the payment of extension fee
- Samsung term sheet is non binding and happens with every phosphate project in Aus.
- Management focus is wayward on things other than the projects themselves
- Haven’t sold the 28,000 tonnes of Phosphate they mined in over 9 months??!!! Weren’t they meant to get off takes and sales agreements from this?
All seems very dicey here. Good luck holders you’ve got some strong hands.
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