Triton Minerals Ltd (ASX: TON, Triton or Company) is pleased to announce the formal signing of a letter of intent (LOI) with Chinese equity firm and resources trading house, Shenzhen Qianhai Zhongjin Group Co., Ltd (SQZG). Pursuant to the LOI, SQZG have agreed to provide funding of up to US$200 million (A$255m) to build and develop a graphite concentrate operation with initial capacity to produce up to 200,000 tonnes of graphite concentrate per year at Nicanda Hill.
Key Highlights:
Proposed project funding package of 50:50 debt to equity; Up to US$100 million direct equity investment in Triton and up to a US$100 million debt facility.
An off-take agreement with an initial term of 10 years at 200,000 tonnes of graphite concentrate per year for Triton’s Mozambique Graphite (TMG) sourced from Nicanda Hill; and
Both the project funding agreement and the off-take agreement are conditional on the completion of a formal due diligence by SQZG, to be completed no later than 30 June 2015 and the execution of final binding agreements.
The successful finalisation of subsequent definitive agreements will secure full funding for the Nicanda Hill project, together with a 10 year 200,000 tonnes of graphite concentrate off-take per year of Nicanda Hill TMG concentrate.
The signing of this LOI demonstrates the strategic importance and growth potential of the graphite material supply market and of graphite-based technologies that Triton is well positioned to supply.
This is yet another outstanding achievement for Triton as this Letter of Intent signifies an important step towards securing complete and comprehensive funding for the development of our flagship Nicanda Hill deposit. Shenzhen Qianhai Zhongjin Group Co., Ltd is a very large, reputable banking, equity and resource trading house.
- Forums
- ASX - By Stock
- TON
- Ann: LOI for Project Funding and Off-Take for Nicanda Hill
Ann: LOI for Project Funding and Off-Take for Nicanda Hill, page-16
-
- There are more pages in this discussion • 299 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add TON (ASX) to my watchlist
|
|||||
Last
1.1¢ |
Change
0.002(22.2%) |
Mkt cap ! $17.25M |
Open | High | Low | Value | Volume |
0.9¢ | 1.1¢ | 0.9¢ | $5.503K | 537.5K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 171722 | 1.1¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
1.2¢ | 491367 | 5 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 171722 | 0.011 |
2 | 273406 | 0.010 |
5 | 1389930 | 0.009 |
8 | 2070529 | 0.008 |
7 | 1742974 | 0.007 |
Price($) | Vol. | No. |
---|---|---|
0.012 | 491367 | 5 |
0.013 | 1538461 | 1 |
0.014 | 200000 | 2 |
0.015 | 1333333 | 1 |
0.018 | 166666 | 1 |
Last trade - 15.26pm 15/07/2024 (20 minute delay) ? |
Featured News
TON (ASX) Chart |
The Watchlist
RCE
RECCE PHARMACEUTICALS LTD
James Graham / Dr Alan Dunton, MD & CEO / Non-Executive Director
James Graham / Dr Alan Dunton
MD & CEO / Non-Executive Director
SPONSORED BY The Market Online