Triton Minerals: NQM Defaults on Sale of Mozambique Graphite Assets
Key points
- NQM failed to complete the sale of Triton's Mozambique graphite assets by the deadline
- NQM is in default under the Share Sale and Purchase Agreement
- Triton has chosen to affirm the agreement and seek specific performance
- Triton reserves rights to seek damages for NQM's failure to complete
Full summary
Triton Minerals Limited (ASX: TON) announced that NQM Gold 2 Pty Ltd has failed to complete the sale of Triton's Mozambique graphite assets as per the Share Sale and Purchase Agreement (SSAP). NQM's failure to meet the completion deadline resulted in default under the SSAP. Triton has elected to affirm the SSAP and seek specific performance, reserving its rights to seek damages. The company will continue to update shareholders as material developments occur.
Outlook
Triton Minerals will continue to pursue specific performance and potential damages against NQM.
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