I recall Mount Marion when NMT had the rights to buy at market value some 56k tonnes 6% spodumene per year, provided they could increase its value, so there was talk about a deal in India to process it which gave us the rights to buy the supudumen.
Gangfen then paid $30m for NMT’s rights to buy at market value and the Indian deal fizzled out. Makes you wonder if this was a clever long play by Chris or simply good fortune.
Now I’m thinking on the vanadium from slag proposal NMT intended to part fund and so increased holding in Critical, concluded contract with slag producer, tied up site for plant, set up bank funding, offtake agreement with Glencore, completed recovery results showing excellent profit after cost ie all ducks in a row before looking to market the project as oven ready with front end work done, perhaps I’m over thinking it but do wonder if Chris two jumps ahead rather than behind.
Should we find a buyer with deep pockets I’d say two jumps ahead, see how it plays, Loop.
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