I think you are just overthinking things. It was a conditional offtake agreement, with a timeline and conditions to be met at certain stages, before it became binding. But they had an exclusivity clause, so they would only basically deal with each other until it became binding or not. This was pretty serious stuff, and a good sign at the time. Even if you look at Arafura and the binding offtake agreement with Hyundai as an example, it still has conditions that have to be met, such as Nolan’s being built by 30 June 2026, oxide grade, etc.
The point is, at the stage the framework agreement game along, appeared the ducks were lining up. Sadly ASM appear to have snatched defeat from the jaws of victory.
I have serious doubts the Korean Consortium will go ahead. We have heard so little about the them this year.
ASM Price at posting:
$1.62 Sentiment: Hold Disclosure: Held
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