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This agreement is complimentary to the agreement with DL, taking...

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Legman

2,190 Posts.

343

07/02/24

21:01

Post #: 72292720
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Originally posted by DarkGold: ↑

I am sceptical about the Terms Sheet with Samsung. Terms Sheets are either legally binding or not binding. Companies generally promote the fact that an agreement is legally binding as it requires the customer (Samsung) to act in good faith and use reasonable effort to reach an agreement. NRZ has not said the Term Sheet is legally binding. The NRZ General Counsel is an experienced lawyer; the company secretary is a lawyer - if it were legally binding, they would have said it.

Non-legally binding agreements are generally not worth the paper they're written on. It would be good if NRZ management could clarify the status of the Term Sheet.

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This agreement is complimentary to the agreement with DL, taking the combined amount of urea production (lol) accounted for to be up to 800,000 tpy.
NRZ just needs one more 200,000 tpy offtake announcement to account for 100% of Stage 2 production. Kia and LG are well known Korean companies.

NRZ Price at posting: 0.6¢ Sentiment: Sell Disclosure: Not Held
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