Hmm.
A Trading Halt for an increase in JORC.
Yes, some companies use it but based on the past experience with BMB they usually use T/H for something pretty major. I know that today's announcement states that the T/H relates to a significant upgrade in JORC for Mariola but maybe there is a bit more to it.
The Co also announced that we are waiting for a sign off of an agreement with Tauron for the use of their facilities. This agreement, when signed, will mark a start of our relationship with Tauron and their Siersza Power Station and as Mike mentioned will be a pre-cursa to an off-take agreement with Tauron. And as we know an off-take agreement is one of the major pre-requisites to finance the project.
I can't see Tauron giving us an access to their own, significant on-site coal loading and transport facilities (I've seen them with my own eyes) and then didn't take our coal located just 1,800m from their power station.
Anyway, since this T/H relates to Mariola and the agreement was to be signed very shortly (within days as mentioned by Mike at the AGM) there's a good chance that it could be added to the next announcement.
This would also help to explain the T/H as you usually put the Co in a T/H before signing important agreements.
Anyway, that's my cents worth
- Forums
- ASX - By Stock
- Ann: Trading Halt
Hmm. A Trading Halt for an increase in JORC. Yes, some companies...
-
- There are more pages in this discussion • 9 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add BMB (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
LU7
LITHIUM UNIVERSE LIMITED
Alex Hanly, CEO
Alex Hanly
CEO
SPONSORED BY The Market Online