Agreement with NFGRelated to its investment in Maritime, New Found and Maritime have also entered into a non-binding memorandum of understanding (the "MOU") pursuant to which New Found has been granted the right to conduct due diligence and exclusivity to negotiate with Maritime regarding a toll milling agreement at the existing Pine Cove Mill located at the Point Rousse project near Baie Verte, Newfoundland and Labrador.
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So it's non binding. And they have exclusive rights to negotiate with Maritime regarding a toll mining agreement.
There is no date reported for how long they have this exclusive agreement. So can MAE negotiate with other companies, ie Firefly?
NFG stated they would be making a decision on this by the end of the second quarter which ended June 30. So are things slowed down, or has NFG decided they are not interested.
That tolling agreement would be huge for MAE.
So, is it still a possibility, or is NFG not moving forward.
It was reported as important news a year ago.
So, what is going on?
Investors want to know.
Time for an update on this.