CLE 0.00% 0.1¢ cyclone metals limited

mcc $8000000 update, page-5

  1. 9,559 Posts.
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    None of us have seen the contract, so we can only go on the information provided.
    What gives me the most comfort is that TS said that they were in discussions with MCC re a payment schedule which indicates that MCC accepted the liablility. As I recall, the stumbling blocks according to TS was the payments with CFE requiring a bigger up front payment whereas MCC was advocating a more staggered payment approach.

    What tipped the matter into litigation was that MCC was crying poor to CFE, but then unveiled a multi billion dollar plan to bring the site into production.

    TS said that he felt like he was being played and hence said enough is enough, lets put it to the courts to have it resolved. Remember if the case is as strong as CFE claims, the court costs may ned up being paid by MCC as well, so there will in the end be no cost to CFE.

    By the way it is 80,000,000 not 8,000,000:)
 
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