RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Statuschizzles wrote: whoisyourpapa wrote: Chzzles if you're referring to me I said it reassures me not "it removes any risk" I want to make that distinction. Also I believe Plansee can take "up to" 45% of the Tungsten but they don't have to take any of it if there is no demand. Someone correct me if I'm wrong on this understanding of the offtake.
whois
Almonty Industries Inc. (“Almonty” or the “Company”) (TSX-V: AII) is pleased to announce that it has entered into a new off-take agreement dated March 12, 2018, (the “Off-Take Agreement”) with an existing customer (the “Customer”) for the tungsten concentrate to be mined and processed at the Company’s wholly-owned Sangdong Tungsten Mine in South Korea. The agreement has a term of 10 years and, based upon current pricing models and, subject to the terms and conditions of the agreement, the agreement calls for guaranteed revenues for the Company for a minimum of CDN$500,000,000.
Actually, I will post this newer and better News Release for any newbies here. Unless I am not understanding something, I think this is guaranteed.
The Amended Off-Take Agreement, based on updated pricing models and subject to the terms and conditions of the amended agreement, increases the term from 10 years to 15 years and now calls for floor price revenues for the Company in a minimum amount of 750,000,000 CAD.