From the announcement:
The board of Carbine "believes that to secure project financing, we need to renegotiate the terms of the agreements with Norton and Raging Bull in respect of Carbine's ownership and title to the Mt Morgan project."
Carbine has "been in discussions with Norton for the last two years seeking early title transfer and improved payment terms for the benefit of the project and Norton. No agreement has been reached."
It seems there has been ample opportunity during the last two years for Norton and Raging Bull to strike an with agreement with Carbine under which all parties will benefit. From today's announcement, it appears that under the terms of the existing agreement all parties lose.
From the announcement: The board of Carbine "believes that to...
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