The offtake agreement does not have anything to do with the "funding" of the mine / plant. Perhaps it may help THR secure funding from a 3rd party as it helps mitigate risk somewhat has they have a guaranteed buyer for their concentrates.
Best case scenario would be for Citec to loan THR working capital to get the mine up and running. Realistically will this happen, who knows. What I can tell you though (and I do apologise for mentioning QOL here but it is directly related), Citec refused to loan QOL money for their moly / tungsten mine for various reasons. Perhaps THR will be different who knows?
It is interesting to note that the announcement does not mention any of the conditions of the agreement. One can only specualte
THR Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)