Meanwhile, Territory chairman Mr. Michael Kiernan said this week that the company was planning to launch a revised bid but instead it would meet with Privat next week to put its acquisition plan for ConsMin back on track.
ConsMin is the one of the largest Australian mining company, which holds the rights to develop Woodie Woodie manganese ore deposit, Coobina Chromite chrome ore deposit and Beta Hunt nickel mine.
Prior to Privat's intervention, two companies - Territory and Pallinghurst Resources were battling for ConsMin.