All quiet. No announcement on extension of exclusivity period with Xinfa which means they are still in negotiations. It is positive that this is taking some time. A quick negotiation is usually in the negative and if this happens Xinfa would have forfeit the $500,000 exclusivity fee. A positive result would be fantastic but the Chinese are hard negotiators. Some positive news
1. A recent report indicated the Chinese are importing record amounts of bauxite from Indo and Aust in case Indo brings in export restrictions.
2. Bauxite prices are around $60
3. Director purchased 1 million shares at 20 cents a few months ago
If negotiations do fail, let’s hope they have a backup plan
All quiet. No announcement on extension of exclusivity period...
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