GWR has previously entered into iron ore sales contracts with both Hunan Valin Steel Co Limited and Yijian Investments Limited, with the contracts being conditional on the parties reaching agreement in relation to the ore specifications. GWR has been unable to reach agreement with Hunan Valin Steel Co Limited in relation to the specifications and as such has elected to terminate the contract, whilst at the same time recognising the importance of Hunan Valin Steel Co Limited as a shareholder and supporter of GWR and inviting alternative proposals from Hunan Valin Steel Co Limited to purchase GWR’s ore in the future once GWR has developed its final product specifications. The contract with Yijian Investments Limited remains conditional on agreement in relation to ore specifications.
GWR Price at posting:
46.7¢ Sentiment: None Disclosure: Held
