There's a right of first offer and a right of first refusal from a legal perspective and they are two different concepts. It looks like MIN believe they have a right of first refusal whilst we have always been told we have a right of first refusal with the GAMW agreement. From what I have seen in relation to meeting the offer from 3rd parties or 2.5% in royalty. I might have it wrong so IMO only.
Ann: Response to Pilbara Minerals Announcement,PLS-MIN.AX, page-70
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