Interesting announcement from CMX today, signing an MOU with battery materials processing refinery hub for their manganese. This manganese deposit it right near where ITM's sugarloaf graphite and potential processing site is. This is not a huge deposit and is not as developed as ITM's graphite, where we having mining/processing approvals already. Interesting the way different companies approach when they engage with the potential customer.
ITM looking to do an advanced feasibility over next few months, at which stage you would have to expect we would be in a position to negotiate actual offtake agreements. That will be especially interesting if we see some positive met results in sugarloaf and/or some positive drill results there and at Lacroma.
Interesting ITM MD Mike Schwarz attended the Benchmark Material Gigafactories Asia Pacific conference recently.
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