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Ann: NCZ EXECUTES MAJOR LONG TERM ZINC CONCENTRATE OFFTAKES, page-25

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BoZz

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10/02/18

11:12

Post #: 30964705
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Originally posted by Bonies ↑

Off takes are always highly confidential hence lack of disclosure but this is very positive to have such highly regarded traders as offtake partners and shows the concentrate is marketable if there is no mention of penalties etc.

Regarding Nyrstar this action is probably a last effort ditch to try and secure some concentrate. If NCZ wasn’t aware of this alledged contract then MMG must have terminated it or thought it was terminated on closure of the mine. No one in their right mind would be stupid enough to just forget or ignore it.

I can see some huge damages claims and other than a nuisance factor for NCZ financially they won’t be out.

I would have thought it’s a good thing to have people fighting for your concentrate. Shows how tight the market is!

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The loophole here for Nyrstar is ‘“life of mine”
Which I assume wasn’t brought to the attention of the new vendors or their proxies; so whether it was forgotten or ignored or simply not an issue seeing this was meant to be new owners, clean slate.

Anyway; as you say; it’s a nuisance and likely end up a non event.

NCZ Price at posting: $1.17 Sentiment: None Disclosure: Held
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