Chinalco MOU

When SYR first announced this MOU I raised the question was the 80-100k tonnes PER ANNUM or not. The ann did not mention. Someone (a poster) rang the company who confirmed it was PER ANNUM and that it was a simple omission. Yet when you look at their NEW website, it's still not identified as such. This website was set up after the ann, so they had plenty of time to a) get it right or b) fix it up. What's going on? Everyone is under the assumption it's PER ANNUM?

The Asmet MOU is duly noted PER ANNUM.

Copied from their website........
Offtake Agreements

In March 2014 a Memorandum of Understanding (MOU) for an offtake agreement was signed with China Aluminium International Engineering Corporation Limited (Chalieco). Chalieco is an affiliate company of Aluminium Corporation of China (Chinalco), the world’s second largest Alumina producer, the third largest primary aluminium provider and the fifth largest fabricated aluminium producer.

Under the MOU, Chalieco will buy 80,000 to 100,000 tonnes of flake graphite and an amount of >98% V2O5chemical powder or flake products to be determined. The MOU requires the parties to negotiate a legally binding offtake agreement within three months of signing the MOU. The final offtake agreement will firm up V2O5 volume requirements and also both graphite and V2O5 pricing.

In April 2014, a further MOU for an offtake agreement was signed with Asmet (UK) Limited. Asmet is a European trader of metallurgical consumables (including carbon) to the iron, steel and aluminium industries with more than 500 customers in over 30 countries.

Under the MOU, Asmet will buy 100,000 to 150,000 tonnes of graphite per annum at a price of approximately US$1,000 per tonne over an initial period of 5 years. Subject to the successful completion of a bulk sample test of 2 -3 tonnes, Syrah and Asmet will be required to negotiate in good faith a formal offtake agreement for the sale of graphite.