RE: On the move17 Sep 2020 14:19
'The Company has to date received 10 qualifying Expressions of Interest, with further submissions expected following the
easing of COVID-19 restrictions. The offtake terms, while non-binding, are sufficiently detailed to give the Company
confidence that binding agreements can be reached during forthcoming negotiations.
Demand for Alpala’s concentrate from traders was significantly in excess of planned production volumes, testament to
the inherent quality and value of the material.
The Company has also received material offers of funding in exchange for offtake from a number of traders. These include
the provision of both short-term and longer-term capital with proceeds available for studies, mine construction and cost
overruns as well as working capital during ramp-up. The Company is now ranking and selecting a short-listed group of
traders with a view to finalising offtake agreements as well as funding support.
Concurrently, SolGold has engaged directly with state-of-the-art copper smelters in Canada, China, Europe, India, Japan
and Korea known to be able to process high quality concentrate. The reactions have been overwhelmingly positive and
SolGold’s concentrate assays which have been further confirmed by test results undertaken by smelters, evidence that
Alpala’s concentrate is likely to establish itself as a premier global concentrate coveted by smelters. Discussions with
traders and smelters will continue, as a complementary, integral process of SolGold’s overall project finance strategy'