RE: VISIT10 Jan 2023 18:42
Jenko,
Paying off the prepayment or supplying 50k tonnes, whichever occurs first
“Under the Agreement, Suzhou TA&A will have the right to acquire the first three years of production of SC6, or until such time as the Advance Purchase Amount has been offset in full or the first 50,000 tonnes have been shipped to Suzhou T&A, whichever occurs later ("Term"). The Term of the Agreement can be increased by a further three years, subject to the mutual agreement between the parties.
The sale of SC6 will be priced at a discount conditional on the approval of the Minerals Marketing Corporation of Zimbabwe on the first 50,000 tonnes of SC6 shipped ("First Delivery") or until the Advance Purchase Amount has been fully offset whichever occurs first. Following completion of First Delivery, the parties will agree to negotiate a discount based upon market conditions for the remaining Term. The purchase price will be subject to a floor price until such time as either the Advance Purchase Amount has been fully offset or 31 December 2023.
The purchase price is also subject to target product specifications, with industry standard adjustment for variations.
Following full payment of the Advance Purchase Amount, Suzhou TA&A shall have the right of first refusal to match any offer from another interested party to acquire SC6 from the Zulu Project should the parties not agree to a renewal of the Term. This right is subject to standard regulatory requirements, Commercial Best Practice, and the reasonable agreement of commercial terms.
The Agreement also includes standard events of default and warranties from both Premier and Suzhou TA&A.”
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