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timber1956

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15/03/19

18:23

Post #: 37779471
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Originally posted by newmember1212: ↑

Its still not binding until October as far as I can tell.
"
The finer details of the timing will be negotiated between the two parties when they enter into a more formal legally binding PPA as soon as practicable, and by no later than 1 October 2018.
The term sheet with Royalti is subject to a few conditions, including:
Completion by Hunter of its proposed acquisition of all right, title and interest in the Redbank Power Station.
Completion occurring under the binding terms sheet between IOT and Hunter for the establishment of the BAC.
All necessary shareholder and regulatory approvals being obtained.
The parties entering into formal definitive Power Purchase Agreements.
As part of the agreement, both parties committed to the following (subject to the conditions precedent as mentioned above):
IOT providing to RBG a 4 or 6-inch cement platform/floor.
IOT providing to RBG sufficient land at the Red Bank Power Station to incorporate RBG’s BitFury Blockchain Hardware facility, which is not to exceed 1 Hectare.
IOT providing to RBG 20 megawatts of power to RBG at an estimated cost of 11 cents (AUD) per KWh.
RBG will purchase from IOT 20 megawatts of power consumption for five years, with an option for an additional five years (10 years in total), with further options to be on terms to be agreed."

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https://www.asx.com.au/asxpdf/20190315/pdf/443jlwf0s8q6q2.pdf

-For how much?
-What will Richard do with the money?
AEJ Price at posting: $8.00 Sentiment: None Disclosure: Held
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