POTENTIAL OFFTAKE FOR STAGE 3
As announced in the Subscription Agreement executed with Jiangxi Ganfeng Lithium Co. Ltd (“Ganfeng”on 28 December 2018, Pilbara Minerals agreed to provide a right to Ganfeng to purchase a further 50,000tpa of spodumene concentrate from any Stage 3 expansion. Offtake is contingent on a number of conditions precedent including provision of a product prepayment facility of not less than US$20M. This prepayment is in addition to the A$50 million equity subscription expected from Ganfeng by the end of March 2019.
Which all ties in with this paragraph. The $20M prepayment will help with cash management initially until it gets draw upon. The addition shares/equity is not new information to the market.
POTENTIAL OFFTAKE FOR STAGE 3 As announced in the Subscription...
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