Hello allExcuse my interjection on your forum however I feel as...

Hello all

Excuse my interjection on your forum however I feel as though I need to try and explain the current situation re; the EPC from an outsiders perspective so as the likes of underlined and others (no disrespect intended ) can better understand the MOU / EPC signed between RXM and NFC.

The MOU / EPC is pretty much exactly the same as the one signed with Ironbark zinc (IBG) which is also due to be executed in a similar time frame.

The most important point to remember here is that the MOU / EPC was between two parties RXM and NFC ( principal contractor ) who are also sourcing the funding from Chinese banks.And it is not and I repeat "it is not" NFC been placed into administration.

However Allmine which is the parent coy to Accorn and has been subcontracted by the principal contractor NFC, has unfortunately been placed into administration.

Now from my understanding it was the Allmine group that brokered the agreement between the two major parties RXM and NFC with the agreement that AZG will undertake engineering and various limited associated works under the umbrella of the contract between RXM and NFC ( principal contractor )

With the above in mind and as others have already suggested, AZG falling into administration is more of an unfortunate minor hurdle which may result in some delays in the execution of the EPC until a suitable replacement to AZG is found which I dare say shouldn't be to big an issue with so many firms out of work and jumping over backwards to secure future projects.

A simple analogy I guess would be if you were to sign a contract with a reputable builder to build your new home and due to circumstances the carpenters the builder had subcontracted had to pull out of the job due to financial problems paying his men. Although inconvenient due to possible delays sourcing a replacement team of carpenters the builder you contracted will still complete the house to the standard you expect.

I hope this clarifies the situation Underlined, although inconvenient the mine will get built.