Congrats to all cross holders of TAW and GXY. Mega off take and immensely positive for the remainder of the industry.
Anyone want to start taking guesses for the next GXY contract for Mt. Cattlin and what the advance payments could be for Sal de Vida/James Bay?
Pursuant to the Offtake Agreement, BCL will advance by instalments AUD25,000,000 (equivalent to approximately HK$146,287,000) in exchange for exclusive selling rights to the lithium concentrate flowing from the Bald Hill Project in Western Australia for a five year term and pre-emptive rights to the same for subsequent five years.
Starting from February 2018, BCL shall, in the first two years, purchase an aggregate of at least 200,000 dry metric tonnes of high-grade lithium concentrate at a fixed price, worthing of approximately USD200,000,000. BCL has made an initial advance payment of AUD7,500,000 (equivalent to approximately HK$43,886,000) upon the signing of the Offtake Agreement to the Sellers, and will make two further advance payments, in July and September 2017, each amounting to AUD8,750,000 (equivalent to approximately HK$51,200,000).
Original PDF:
http://www.hkexnews.hk/listedco/listconews/sehk/2017/0420/LTN201704201001.pdf
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