EM1 4.76% 4.0¢ emerge gaming limited

revised off take

  1. 357 Posts.
    Noventa have just announced a revised off take with Starck

    Why not Gip?

    Noventa Limited
    ("Noventa" or the "Company")

    Improved Offtake Contract Terms, Resignation of CFO & Correction to Previous Announcement

    18 July 2011

    Noventa (AIM:NVTA; TSX:NTA; PLUS:NV) today announces a number of important developments.

    Improved Offtake Agreement Terms

    The board of directors of Noventa is pleased to announce that it has negotiated improved terms to its offtake agreement (the "Agreement") with H C Starck (the "Customer"). Under the revised Agreement, the Customer has agreed to pay between 27% and 36% higher prices per pound of tantalum contained in concentrate than was previously the case over the period to the end of 2013. The Customer has also agreed to purchase 29% more tantalum contained in concentrate at the increased price which can be delivered by Noventa at any time up to the end of 2014. The Customer retains the option to extend the Agreement for up to the end of either 2014 or 2015, but with the price per pound to be negotiated relative to market prices at that time. The customer also has the first right of refusal on any additional production not covered by Noventa's existing offtake agreements at a price 20% above the increased price under the Agreement.
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