I wouldn't be too concerned about the silence yet. I spoke with the company last week, and to my understanding everything is still progressing with regards to an agreement. Just to remind everyone, graphite is rather "behind the scenes" market, and not so transparent. There is no "spot market", nor globally accepted standard practice. Everything is negotiated one-on-one. Our MOU for our off-take was signed last year in July, and it took till XMas to come out with the binding off-take. But even though people started thinking it wasn't going to happen late last year, everything turned out just fine with regards to the off-take. And this will be the same.
The company has already raised money for Merelani (last CR), and Richland have agreed to our terms, in writing (refer announcement 10/6). We are now less than 2 months past that written acceptance, so any delays in the binding agreement are not yet at a stage to be concerned. Take it from an ex-banker, I've seen contracts delayed 3 days because someone dated something wrong, and delayed nearly a fortnight just because one minor clause had to be changed in a standard agreement. What we are dealing with here is a non-standard agreement, and involving a Tanz government agency (STAMINCO), so the legal eagles are still no-doubt going back and forth, and the STAMINCO legal eagles have probably got a longer process for requests, with probably every single clause request needing to go through a process.
African's have a saying .... TIA. (This is Africa). Or more correctly, expats living in Africa have that saying, lol. Things can sometimes take a while.
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