As such, Argosy has today confirmed with Qianyun the termination of the Placement Agreement with effect fromtoday.
In addition, Argosy has received a request from Qianyun (received with effect from today and which the Company has considered with its legal advisers) to terminate the Off-Take Agreements (the Preliminary Off-Take Agreement and the Long Term Off-Take Agreement).
AGY terminated the agreement with QQ today and in a tit for tat move QQ terminated the offtake deal. The 5th was the date the ASX were informed that an extension wouldn't be forthcoming. Probably fortuitous that last week was Golden Week and the Chinese were all on holidays.
AGY Price at posting:
25.5¢ Sentiment: Buy Disclosure: Held
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