From GXY: Highlights BINDING LITHIUM CONCENTRATE AGREEMENTS...

From GXY:

Highlights

BINDING LITHIUM CONCENTRATE AGREEMENTS SIGNED

• ▪ Binding agreements signed with major Chinese customers
• ▪ 60,000 tonnes of lithium concentrate sold for 2016 delivery at US$600/t (FOB)
• ▪ Prepayment of 50% of total order value (US$18m) to be paid in cash, before 31 March 2016
• ▪ Binding commitment to purchase 120,000 tonnes for 2017, delivery subject to final price to be agreed during Q4 2016
• ▪ Total expected 2016 production at a minimum of 65,000 tonnes
• ▪ Maiden shipment July / August 2016