So 10 June deadline for GUNVOR binding off take (40% V2O5) is extended by mutual agreement for by 3 months to 9 months from 11 December 2019 (therefore 10 Septermber 2020).
In addition the 11 June 2020 deadline for VINSOM GROUP ( 100 % iron oxide) binding off take is extended by mutual aggreement by 45 days from 12 December 2019 (therefore 26 July 2020).
I like others question whether the explaination " COVID 19" is the complete cause.
It might be that the flow on effects of COVID 19 like predicted commodity demand and price, global recovery generally mean off take partners are slow to put pen to paper without a better assessment of recovery and on supply. Understandable i guess.
I wonder why the VINSOM deadline is extended by 45 days and the GUNVOR dealine 3 months (90 days).
Could there be some tactical reason for this? Im just throwing it out there. Doesnt otherwise have an obvious logic.
VINSOM an already substantial share holder with a 9.84% holding and a stated potential equity finance conrtibutor might want to link there off take agreement with an equity finance agreement? Is its possible that an early agreement could be set at a lower share price conditional on overall finance. I dont know the answere.
i simply dont understand the different dates. Any ideas.
TNG Price at posting:
5.5¢ Sentiment: Hold Disclosure: Held
