UPDATE ON OFFTAKE AND FINANCING
Graphex Mining Limited (ASX: GPX) (‘Graphex’ or the ‘Company’) is pleased to provide an update on the status of financing and offtake discussions with its prospective JV partner, CN Docking Joint Investment and Development Co Ltd, a subsidiary of China National Building Materials Group (‘CN Docking’).
The Company recently met with CN Docking to advance negotiation of the joint venture, financing and offtake arrangements for the Chilalo Graphite Project. CN Docking has now requested to meet with the Tanzanian Government prior to finalising negotiation of these agreements. A delegation including the Chairman of CN Docking, the Vice President of the Investment Association of China and members of CN Docking’s investment syndicate are expected to visit Tanzania towards the end of January.
This visit follows a meeting held between Graphex management and the new Minister for Minerals in November 2017 to discuss various issues raised by the amendments to legislation governing the mining industry. The planned follow-up to this meeting has been delayed while government officials have been on leave.
A further update will be provided following the meetings held in Tanzania.
UPDATE ON OFFTAKE AND FINANCING Graphex Mining Limited (ASX:...
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