CXO 1.00% 9.9¢ core lithium ltd

Ann: Termination of Mining Services Contract, page-15

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    Most likely there would have been contractual terms in the Lucas contract that prevented the Board of Core from making a restart decision with anyone other than Lucas. The board couldn't make the decision to restart mining while the contract with Lucas was still enforce (without such a decision increasing the size of the payment that would be required to end the Lucas contract).

    Now they have ended that contract, Core has flexibility back as to how mining operations are structured and at what cost. The Core board meeting deciding to restart mining hasn't yet occurred so there isn't a restart decision even if that is probable. That's perhaps 1-2 months away as the wet season ends and there's some greater clarity around whether Spod prices have continued to fall or have found a low point in this cycle.


 
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