re: Ann: Extension of Merger Implementation A...
"Phillips River and Silver Lake have agreed to extend the time period on the due diligence condition, as set out in clause 2.1(g) of the Merger Implementation Agreement, to allow a continuing review of Phillips River's existing legal contractual arrangements."
The issues I can think off are related to the proposed deferrment of the Trilogy mining and Plant construction. This could affect the processes that were underway with third parties concerning procurement of funding, offtake agreements and the EPC Appointment. Also the lead / zinc offtake agreement with LN Metals could not go ahead now.
Anyone else got any other ideas of what other existing PRH contractual agreements would have to be voided. I guess there may have to be some break payments with third party consultants but nothing too expensive I would think.
Can't see any of this being a major hurdle for SLR though.
Pretty slow week so far - I thought there would be a lot more interest following DVo1's declaration of significant shareholder status.
PRH Price at posting:
2.3¢ Sentiment: Buy Disclosure: Held
