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Triton Minerals Limited ( (AU:TON) ) has provided an update.
Triton Minerals Limited has issued a second letter of demand to NQM Gold Pty Ltd, a subsidiary of Shandong Yulong Gold Co. Ltd, seeking payment of A$8.5 million, which includes a previously unpaid amount of A$3.42 million. This follows NQM’s failure to meet the initial payment deadline, and ongoing negotiations have yet to resolve the issue. Complicating matters, Yulong has announced financial difficulties due to lawsuits and arbitration disputes, raising uncertainties about its future operations and potential impacts on Triton’s agreements. The company’s independent directors are exploring options and seeking legal advice to address the situation.
More about Triton Minerals Limited
Triton Minerals Limited operates in the mining industry, focusing on the exploration and development of graphite assets. The company is engaged in the sale and purchase agreements related to its graphite assets, aiming to enhance its market position in the mining sector.
Technical Sentiment Signal: Buy
Current Market Cap: €4.55M
Find detailed analytics on TON stock on TipRanks’ Stock Analysis page.