On 5 February 2014, Richland announced a MoU with ASX quoted Kibaran to consolidate and mine both companies' graphite deposits in the Merelani region. On 5 May 2014 Richland signed a 3 month extension to the MoU until 5 August 2014. Kibaran has largely completed its due diligence and the parties are now working together to finalise the terms of the binding agreement. Both parties are keen to finalise an agreement to allow the recommencement of graphite production at Merelani. Further updates will be made in due course.
Richland, page-2
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