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4.6¢ tivan limited

Ann: LOM Binding Offtake Agreement with VIMSON Secured, page-27

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maxter

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27/07/20

15:22

Post #: 46097038
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Originally posted by bobadah: ↑

""up to 100%" is a sloppy term, I mean it can't be more than 100% can it"
Not just sloppy, it has no meaning at all because up to 100% can be anything from zero to everything. If this is being promised as an offtake shareholders are worse off than before the agreement. As I read it, TNG has promised them they can have it all yet they do not have to take anything BUT with an agreement like that we have no room to offer another buyer ANY specific amount. Hence all we have done is guarantee we will not sell any of it to anyone else until after it has been rejected.

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Yup Bobadah, there should be a penalty clause for not taking the full 100%. I did sme work on the NZ Natural gas supply contract to distributor and it was called a "take or pay" contract. No room to wriggle if you didnt take the alocation you payed anyway.

TNG Price at posting: 7.8¢ Sentiment: Hold Disclosure: Held
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