Andromeda9 Aug 2022 10:29
Our JV partner knows how to ink a deal.....
Andromeda Metals has further solidified its Great White kaolin project in South Australia after signing another binding offtake agreement.
Subject to conditions, the emerging industrial minerals producer will supply up to 43,000 tonnes (t) of its Great White KCM 90 product to Plantan Yamada.
Plantan Yamada will receive halloysite-kaolin across the first three years of Great White’s operation with price reviews at 12 months and the potential for further extension.
The Japanese porcelain manufacturer has been analysing and testing samples at laboratory, pilot scale and full commercial scale over the last three years including a 40-tonne batch of Great White material.
“This agreement with a multi-generational leading Japanese porcelain producer (is) a yet another significant milestone for Andromeda and the Great White kaolin project,” Andromeda managing director James Marsh said.
“It is the second binding agreement for our initial Great White KCM 90 product and provides excellent support for the strategic decision to start with this in Stage 1 of operations.”
It comes after Andromeda signed a binding offtake term sheet with Vietnam and Hong Kong-based Asia Mineral Resources in late July for the supply of up to 38,500t of the KCM 90 product.
The Great White project offers high-quality and long-life supply of halloysite-kaolin, a valuable industrial mineral that has upwards of seven different commercial avenues.
Halloysite-kaolin is considered the most researched clay mineral in the world, yet there are no active producers of the resource in Australia to this point.
Andromeda now has four major binding offtake agreements in place, which includes three products over four stages of production ramp-up.
Looking forward to news.... SP is drifting on no volume....
The world needs Cobra rare earth elements....
The confirmation that this REE clay is above a gold resource makes extraction economically viable
The clay has confirmation of leachability at commercially viable extraction rates that can be increased substantially
3500 square km of tenements in Big IOCG Olympic Dam territory.
Gold ... REE and IOCG targets...
Bring it on Rupert....
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