"The first of two offtake contracts for a three-year term was recently executed. The signing of the offtake represents a landmark event and major achievement, assuring a market for the clean Antas concentrate on very competitive terms. The contract is US Dollar denominated.
The contract contains strict confidentiality clauses regarding the disclosure of further commercial details.
Around 250 tonnes of concentrate generated in the commissioning phase was shipped to Asia in the quarter. The aforementioned returned provisional assays of ~28% Copper and 4.5g/t Gold exceeding quality/commercial specifications.
Shipped quantities of commissioning phase concentrate, including the month of April, is approximately 3,000 Wet Metric Tonnes. The first cash from sales was received in late April.
The Company continues to negotiate for a second off-take contract."
AVB Price at posting:
7.4¢ Sentiment: Buy Disclosure: Held