Mineral Commodities (ASX:MRC) said that Norge Mineraler Holding, the buyer of its Skaland Graphite operation in Norway, confirmed that the project's sale is expected to occur no later than June 9, according to a Friday Australian bourse filing.
If the deal is not closed by the deadline, the interest rate on outstanding payments owed to unit MRC Graphite Norway will rise from 12.5% to 20% per annum, from March 21 until completion of the sale, the filing said.
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