Thanks for ponting out the history of how BEZ came to be listed on ASX. So, it appears that Pangaea was stuck with this for so long since the days it was listed in Canada. This could well be the best explaination why Pangaea has been so desperate to sell down its holdings, i guess to settle its long overdue financial obligations to other partners, banks,...Imagine how much interest on its financial obligations to others have accumulated and grown over the years. Thus it has to sell hard to pay its debts long overdue over many years.
I totally disagree with you about Quantum does not commit to help BEZ build a mine. Holy sheet. Building a mine? Now? Next month? Next quarter? The DFS has not even started yet. Application for the final design of the processing plant and mining permit has just been submitted. It is too early to talk about building a mine here. No one here talks about building a mine at this stage.
The pre-payment contract of this large scale of AUD $450mil (USD $300mil) is of course always structured in a way that minimize the risk for the funding partner and thus allows it to supply UP TO a certain $amount. This is very basic and normal clause. There is no way any funing partner wants to tie their hands with a specific amount without a clause that allows them to terminate if things drastically change eg. commodity prices take a deep retrace like lithium price over the last 2 years.
Finally, I don't see QM in any way "has halted the payments" as you put it. They have all the flexibility to do the deposits when they like, at different amounts they like. This is the deal that make $billions for QM and probably the best deal they ever make. And they will continue to do more pre-payments when it is the right time for them to do so. This is a deal that they have planned for a long time and they have done their maths on the gigantic return on investment ($multi-billions profit).
BEZ Price at posting:
14.5¢ Sentiment: Buy Disclosure: Held
