Ann: SIMEC Exclusivity Extended on Iron Ore Projects, page-7

“Given the current stage of negotiations, a short extension of time will provide both parties the additional time considered necessary to reach a mutually beneficial agreement."

This makes it sound like more time is needed for negotiations rather than due diligence. SIMEC want it, it's just how to make a deal work for both. Hence no extra payment because both parties want extra time.


“While negotiations are well advanced, there is no certainty that a deal will be concluded within this timeframe,” he said.

Once again, it's about negotiations which are 'well advanced'! Also "no certainty that a deal will be concluded within this timeframe" could be referring to HAV not being willing to sell it for peanuts (which in my mind is why Wanbao fell through, Wanbao wanted to buy Kalkaroo for peanuts, HAV said bugger off). Which is a good thing. It may take longer for them to negotiate a better deal but worth the wait, I hope.

Anyway, I think I've dissected the announcement enough. And obviously been glass half full in my assessment.

Justhavinago