Bass Metals Limited (ASX:“BSM”) (the “Company”) is pleased to announce that it has signed a Sales Agreement for 50% of its forecast Stage 1 flake graphite concentrate production of 6,000 tonnes per annum (tpa).
Possehl Erzkontor GmbH & Co. KG (Possehl), based in Europe, is to purchase 3,000 tpa of graphite concentrates to be produced from the Company’s 100% owned Graphmada Large Flake Graphite Mine, located in Madagascar, for a period of three years from the 1st of January 2018.
Bass and Possehl will agree on pricing for the Company’s concentrates based on fully transparent end-user demand while linked to CIF port of destination Incoterms 2010. Possehl will earn a 5% commission on all sales through its European distribution network, paying Bass directly on 30-day payment terms, thus minimizing Bass’ sales and logistics costs into Europe, while maximizing the Company’s cash flow efficiency.
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