Triton Minerals Limited (ASX: TON), a mineral exploration and development company focused on graphite projects, today announced that NQM Gold 2 Pty Ltd (“NQM”) has failed to complete its obligations under a Share Sale and Purchase Agreement (SSAP) related to Triton’s Mozambique graphite assets. The company, which holds interests in significant graphite deposits, particularly in Mozambique, confirmed that NQM remains in default of the SSAP, leading Triton to take further action to enforce the agreement.
The current situation follows previous announcements by Triton. On 24 June 2026, Triton issued a notice to NQM under clause 2.6(b) of the SSAP. Subsequently, on 2 July 2026, Triton informed the market of NQM’s initial failure to complete, issuing a default notice under clause 12.1 of the SSAP that required NQM to remedy its breach by Thursday, 9 July 2026. Despite this deadline, completion did not occur on 9 July 2026, with NQM failing to take the necessary steps to finalise the agreement and remaining in default as of this announcement’s date.
As a result of NQM’s ongoing default, Triton Minerals is entitled to pursue specific performance of the SSAP or terminate the agreement, in both cases retaining the right to seek damages. Triton has now formally notified NQM of its election to affirm the SSAP and will seek specific performance to enforce the completion of the agreement. The company stated it reserves all rights concerning NQM’s failure to complete its contractual obligations.
Triton Minerals assured shareholders that it will continue to provide updates as material developments regarding this matter occur. The independent Directors of the company authorised the release of this ASX announcement.
