A 12 month MOU dated 26 Nov 2020 with Samsung SDI stated:
“Samsung SDI is seeking to purchase up to 6,000t per annum of contained nickel from the TECH Project, Samsung SDI is seeking to purchase this in a combination of mixed hydroxide precipitate (“MHP”) and final battery chemical sulfate forms”.
TECH will produce 1,800t Cobalt sulphate and 16,000t Nickel Sulphate. Posco and LG take 1,000t and 10,000t respectively leaving 800t Cobalt Sulphate and 6,000t Nickel Sulphate.
Seemed like they’d left nearly the perfect volume remaining for a Samsung offtake, though I also read Dr Grocott state recently that “our preference is not tie up the remaining 5,000 to 6,000 nickel tonnes in offtake unless we have to. The spot market is likely to be pretty attractive. But if the debt providers want a bit more tied up in offtake that’s not a problem – there’s plenty of others already approaching us.”
Would love to know where it leaves things with Samsung and a potential offtake.
QPM Price at posting:
14.0¢ Sentiment: Hold Disclosure: Held
