Ann: Qianyun Placement and Offtake Agreements Update, page-196

Went through the 17th August press release again - note this statement:

"The Placement Agreement, Preliminary Off-Take Agreement and Long-Term Off-Take Agreement are all subject to limited confirmatory due diligence by Qianyun, to be carried out over the next 30 days, and Qianyun obtaining the necessary Chinese regulatory approvals to make the payments under the Placement Agreement and Preliminary Off-Take Agreement. "

Then on 19 September this statement was made:

"Argosy advises that Qianyun has requested an extension to the confirmatory due diligence period due to time being taken for receipt (and in some cases translation, etc) of certain documents by their lawyers. Taking into consideration the progress that has been made so far and Qianyun’s reaffirmed commitment to the Company, Argosy has agreed to extend Qianyun’s limited confirmatory due diligence period up to 1 October 2017"

What the company knew right up to 1 October and what it disclosed to SI and Institutions on 5 October (regarding offtake), will be scrutinized by lawyers in the next few days.

I have no doubt lawyers representing institutions will demand copies of correspondence between the company and QQ leading up to 5 October 2017.