Traxy’s was the obvious funder. it’s a service they provide to help this EXACT situation. industrial minerals markets are often opaque and that very service gives Traxy’s an advantage and sides up their business model.
the fact that they signed a “binding” agreement but didn’t include funding says it all.
the pumpers can’t have it both ways.
if it’s binding and Traxy’s don’t fund then it’s fairly obvious.
if it’s non binding as I argue then it’s obvious as to why they haven’t. perhaps if they actually sell the clay and get REAL binding offtakes then funding potentially comes back on the table.
either way if traxys hasn’t jumped no-one will.
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