Join our daily newsletter At The Bell to receive exclusive market insights
- Blackstone Minerals (BSX) tells its shareholders to disregard what was said in an “unauthorised interview” with the AFR
- The interview was about incomplete discussions with Vingroup about a potential offtake agreement for Blackstone’s Ta Khoa project
- Blackstone said “any investors who accessed the interview should disregard its contents”
- The company says it has entered into a non-binding memorandum of understanding (MoU) for a potential Cathode Active Material Factory
- The parties will undertake a detailed feasibility study of the CAM project within the next 4.5 months
- BSX shares dropped 4.72 per cent and traded at 25.3 cents per share at 12:18 pm AEST
Blackstone Minerals (BSX) has told its shareholders to disregard what was said in an “unauthorised interview.”
Earlier this week, an article in the Street Talk section of the Australian Financial Review was “unofficially published” on June 6.
The interview dubbed ‘Coffee with Samso’ was about incomplete discussions with Vingroup about a potential and offtake agreement for Blackstone’s Ta Khoa project. The interview was published on all media platforms including Youtube and Spotify.
Blackstone said the interview included discussions about a memorandum of understanding (MoU) between the companies.
Following the release of the interview, Blackstone entered a trading halt saying talks with Vingroup about a potential offtake and funding deal for Ta Khoa were ongoing but did note that there was no certainty it would lead to a binding agreement.
Ta Koha is located in the the Son La province of Vietnam and includes the Ban Phuc mine.
Today, the company said it has entered an MoU with VinES Energy Solution, a member of the Vingroup, and an unrelated third party.
The aim of the MoU is to create the basis for a strategic commercial and technological collaboration between the parties for a potential Cathode Active Material Factory (CAM Project).
The parties will undertake a detailed feasibility study of the CAM Project within the next 4.5 months.
“The company notes (for the reasons explained in response to ASX’s queries today) the interview contains various disclosures that are inconsistent with the terms of the MoU described above,” Blackstone told the market today.
“Further, entry into the MoU is not considered material given its non-binding nature. Any investors who accessed the interview should disregard its contents and have regard to this announcement and the company’s response to ASX queries before making investment decisions.”
On the market, BSX shares dropped 4.72 per cent and traded at 25.3 cents per share at 12:18 pm AEST.
