"Offtake Agreements Triton also met with Qingdao Tianshengda...

"Offtake Agreements

Triton also met with Qingdao Tianshengda Graphite (Tianshengda) and Qingdao Haida Graphite (Haida) to progress contractual arrangements to convert the existing non-binding offtake term sheets into binding agreements. Triton and its legal team is currently finalising the detailed terms of the proposed binding offtake agreements.

Tianshengda and Haida expressed their confidence in the Ancuabe Project and quality of the development and metallurgical studies undertaken. They indicated that their interest in Triton was due to its near-term development and product range of predominantly large flake and high purity graphite. These qualities make Ancuabe graphite ideally suited to the high value graphite products including the expandable graphite markets that is undergoing significant demand growth. Discussions in China also indicated that market price premiums for larger flake graphite over smaller flake is widening due to supply constraints of large flake graphite in China.

Fortunately for Triton Ancuabe is one of the very few projects outside Tanzania suitable for expandable graphite and is located in Mozambique with a very supportive government in what is the premier graphite region in the world.

Triton remains confident of finalising the binding offtake agreements within the next month"