AMAL and Tawana have signed an agreement with Burwill Holdings whereby Burwill will purchase at least US$200 million worth of lithium concentrate from the mine. Burwill has agreed also to prepayments before even the first shipment takes place in March 2018.
* First prepayment done in April: A$7.5 million.
* Second prepayment of A$8.75 million done on 15 July 2017
* Third and final prepayment: A$8.75 million on 15 Sept 2017.
This should happen on Friday, and will be announced over the weekend or on Monday (hopefully).
No idea why the 3rd prepayment is yet to be confirmed by AMA but ....this post in Australia is spot on -->
Forget the AMAL discussion, (40F on the SGX), the disaster with Jonathan Lim is very much in the past. Mr Lim is very good at making money so he isn't going to do anything to screw this up. If he sees TAW as the way to maximise his returns then he will bulldoze AMAL management out of the way(my opinion) .
TAW management is very much driving this beast now and they are hitting each milestone on time and it would seem on budget. It is crazy to thinking that this stock price is back where it was months ago when uncertainty was much higher. I am in the market buying at these prices.. Just look at the Top 20 and you see a lot of successful people.