Video Interview: Volt Resources CEO, Trevor Matthews - February, page-49

The words term sheet suggest to me either an off-take partner or an investor.

Now we know there is a current non-binding off-take or co-operation agreement that is ready to be signed as binding once funding is secured. It will likely be either CNBMGM, GEM or Aoyu as these have been previously disclosed. The first 2 in particular are huge companies ( $81 bil and $23 bil US respectivley). Not sure on Aoyu. GEM is also winning contracts to supply EV battery manufactures cobalt and lithium, so no reason it cannot also supply them with graphite.

If term sheet is what I interpret it as one of the above may seek to come on board as a cornerstone investor, or provide funding directly or via an off-take agreement. It would also explain why perhaps a term sheet is close rather than waiting on news until April given these companies already have non-binding or co-operation agreements with VRC.

Thoughts?