The final payment was due on the grant of mining approvals, or if MCC did not use “reasonable endeavours” to get mining approvals, within two years.
and what were CFE required to do to fulfill its part of the agreement.....
it seems MCC buys the assets then wants CFE to do the work for it.....
once you sell something then isn't it the new owners responsibility to look after it......
well MCC aren't the owner yet....this $80 M issue could go either way...if MCC lose in a HIGHER Court they may well be in default....and lose the lot...now thats something I'd like to see....... and If I were CFE I'd tell them to shove the $80M + and keep the asset... and then sell it to the Indians....
CFE needs to come clean to the market on whats its contract obligations were
CFE Price at posting:
48.5¢ Sentiment: LT Buy Disclosure: Held
