Perth-based graphite hopeful Triton Minerals sues | Australian Markets
Perth-based graphite hopeful Triton Minerals is suing Chinese-owned NQM Gold over a share buy plan debt.
The ASX-listed explorer lodged a writ within the Supreme Court of WA final week, claiming the company, a subsidiary of Shandong Yulong Gold, owed it $8.5 million.
It was the ultimate cost following a $17 million settlement inked in December, beneath which NQM would buy 70 per cent of its graphite property in Mozambique.
Triton mentioned NQM had paid the deposit and second cost, however not the third, which was due on February 28.
Triton despatched two letters of demand and is searching for the excellent sum or damages, curiosity and prices.
The minnow’s shares have plunged nearly 60 per cent over the previous 12 months.
Triton additionally suggested the Australian stock market final week that its delayed calendar 2024 annual report was not but finalised however “nearing completion”.
Stay up to date with the latest news within the Australian markets! Our web site is your go-to source for cutting-edge financial news, market trends, financial insights, and updates on native trade. We present every day updates to make sure you have entry to the freshest info on Australian stock actions, commodity costs, currency fluctuations, and key financial developments.
Explore how these trends are shaping the long run of Australia’s financial system! Visit us recurrently for probably the most participating and informative market content material by clicking right here. Our fastidiously curated articles will keep you knowledgeable on market shifts, investment methods, regulatory modifications, and pivotal moments within the Australian financial panorama.
