AI assistant
MINERAL COMMODITIES LTD — Regulatory Filings 2015
May 12, 2015
65371_rns_2015-05-12_866990b6-04b1-4c1a-ae70-982c3167f764.pdf
Regulatory Filings
Open in viewerOpens in your device viewer
==> picture [96 x 76] intentionally omitted <==
Mineral Commodities Ltd
ABN 39 008 478 653
40 Murray Road North Welshpool WA 6106, Australia PO Box 235, Welshpool DC WA 6986, Australia Telephone: 61 8 6253 1100 Facsimile: 61 8 9258 3601 Email: [email protected] Web: www.mncom.com.au
13 May 2015
Termination of Wogen Offtake Agreement
Mineral Commodities Ltd (“ MRC ” or the “ Company ”) announces that the Pre-Finance and Marketing Agreement between MRC and Wogen Pacific Limited (“ Wogen ”) dated 31 July 2013 (“ Agreement ”) has been terminated, effective immediately.
This development follows a breakdown in the relationship between MRC and Wogen (which included, amongst other matters, an inability for the Company to reach satisfactory terms with Wogen for the sale of shipments of MRC’s product in Q2 2015) and the subsequent issue by MRC of a Notice of Suspension of the Agreement, as announced by the Company on 1 May 2015.
The termination of the Agreement means that MRC is free, effective immediately, to sell its nonmagnetic heavy mineral concentrate to buyers on an unrestricted basis. The Company will accordingly take immediate steps to ensure that arrangements for the future sale of its product can be secured and does not anticipate that significant delays or disruptions to supply will be involved in that regard.
FOR FURTHER INFORMATION PLEASE CONTACT:
Mr Mark Caruso Executive Chairman / CEO Mineral Commodities Ltd