Would it be fair to say what you have stated ( Below ) is more a guess than absolute fact
( So ASX have jumped hard on the company ) neither of us would be at any level to know exactly what the ASX have requested from WFE management , or what they have both agreed on. How can you state as fact this is the case in the supply of 3rd party Ore.
Quote: Take WFE's current example of buying into a JV and buying in 'ore' to make a profit for shareholders, because that is the plan as I understand it.
Where has the company produced any independent expert reports to show that this is feasible?? There are none, so ASX have jumped hard on the company.
Announcement: ASX was further concerned that “the joint venture company currently will not have any ore supply agreements to provide feed to the Luapala Processing Facility
Announcement: The Company is of the view that the Ore Purchase Agreements now executed will provide high grade cobalt and copper ores to meet in excess of 100% of the nameplate capacity of the Luapula Processing Facility.
Announcement: Over the past months, the Company and its advisors in the DRC have completed due diligence on a number of established Congolese and foreign owned mining companies that have expressed their interest and indicated their ability to mine and deliver high grade cobalt and copper ores to the Luapula Processing Facility.
As part of this due diligence, the Company and its advisors have completed preliminary site inspections of the operations, and completed detailed legal reviews of the various counterparties, management and shareholders.
In addition, the Company and its advisors have also completed a review of the current and previous ore supply and purchase contracts that these companies have held and maintain with other cobalt and copper processing plants located in the DRC Copperbelt for the delivery high-grade cobalt and copper ores.
Based on these reviews, the Company and its advisors have now executed Ore Purchase Agreements with seven selected Congolese companies, from which it is proposed that WLMC will purchase high grade cobalt and copper ores as feed to the Luapula Processing Facility.
The Ore Purchase Agreement is a standardised document that has been prepared by the Company’sin-country advisors and lawyers and reviewed by the Company’s Australian lawyers
Again
@ozblue , I can not see how you state as fact the ASX will require anything different form what WFE has already supplied or has available for ASX perusal ( As Above ) with regards to the Ore supply agreements . Guess or speculate yeah why not , state as fact is a little over the top man
