Following Lamboo’s announced intention to merge with Hengda and Asian growth strategy, new off-take opportunities are emerging, including a significant off-take agreement signed with China Railway Group Limited subsidiary, China Railway Resources Group Ltd (CRR).
Highlights
- Supply agreement signed with CRR for 50,000 tonnes per annum (90% TGC) of flake graphite concentrate.
- Pricing based on mutually-agreed prices for high quality purity flake graphite.
- The agreement includes an option to supply sphericised or processed flake graphite for lithium ion batteries.
- The CRR off-take agreement provides customer diversity for Lamboo’s growing flake graphite resource base and follows the announcement this week of the Maiden Resource at the Company’s Geumam Project in South Korea.
- Hengda merger due diligence progressing and is anticipated to be completed shortly.
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