Post by
ztransforms173 on Jul 01, 2024 10:24am
MyTake: JFSL WANTS MORE MONEY & CONSTRUCTION CONTRACT
- as I 'SUSPECTED', FT has NOT RECEIVED TSX APPROVAL for SECOND CONVERTIBLE DEBENTURE (?)
- therefore, it CAN'T EXECUTE LIND PARTNERS LOAN AGREEMENT and GET HOLD of the CASH to CLOSE JFSL property sale
- since the JFSL OPTION CONTRACT EXPIRED, JFSL is NO LONGER BOUND to ANY of the CONDITIONS SPECIFIED in the SALES CONTRACT
- so, NEGOTIATIONS are ONGOING and JFSL is in a MUCH STRONGER POSITION since this PROPOSED METAL REFINERY SITE FITS LIKE a GLOVE in the overall MASTER PLAN of Fortune Minerals
- another thing:
* NOW, that JFSL has SEEN that FT has RECEIVED $ 16.2 million in GOVERNMENT GRANT MONEY, the chances of a metal refinery CONSTRUCTION INCREASES DRAMATUCALLY which was NOT the CASE from the TIME of the ORIGINAL SALES AGREEMENT
- the OWNERS of JFSL have CONSTRUCTION KNOWLEGE and EXPERIENCE and are PIVOTING the SALE of the JFSL property site into an OFFICIAL BUILDING CONTRACT for the RENOVATION and BUILDOUT of the NEW Fortune Minerals METALLURGICAL REFINERY at the site
z173
Comment by
Baserunner on Jul 01, 2024 10:51am
I think it is as simple as they have not received assurances of the permitted usage for the site from the regulatory authorities! Don't kid yourselves about the property, it is very hard to move that kind of property with the baggage it carries from pass usage! JSFL would have SOLD the property already if it was such a dream piece of property!
Comment by
Jim1712 on Jul 01, 2024 1:18pm
Like really hard to move ! And impossible to finance as shown by Fortune. Worley is going to have to get creative and finance this in house. Why didn't they ? Jim