Media Reports, page-3354

Care of Gvan from the TLG thread. The COO said near the end of the vid they won't have the AAM plant built until next year. They're having funding issues. We have an off-take with them to supply the flake graphite from Balama until they start their own mine. If they have funding issues, it means they won't be able to develop their mine for a while so they'll require graphite from SYR for longer than I originally thought.

I suspect it was the US Govt leaned on SK ON to sign up to help Westwater securing funding and push the project along and not Hyundai as Gvan suggests below.

From a few days ago. Yet another off-take in the graphite space outside of China. Perhaps Hyundai pressuring SK On to get a move on after asking for leniency from the US govt regarding the FEOC ruling that will only get more extreme next year. Things are moving fast now.




"Westwater Resources CCO Jon Jacobs joined Steve Darling from Proactive to announce a significant milestone for the company: the signing of its first off-take agreement with SK On Co, a prominent electric vehicle (EV) battery manufacturer supplying batteries to major automotive brands such as Ford, Hyundai, and Volkswagen.

According to Jacobs, Westwater Resources will supply CSPG-10 natural graphite anode products from its Kellyton Graphite Plant, located near Kellyton, Alabama, to SK On's battery plants within the United States. Under the agreement, SK On will be committed to purchasing a specified quantity of product annually, with the option to increase the minimum purchase amount through mutual agreement between the parties. Notably, the forecasted volume required by SK On in the final year of the off-take agreement is set at 10,000 metric tons of product.

This off-take agreement marks a significant achievement for Westwater Resources, as it represents the company's first contract for the supply of CSPG between a South Korean EV battery manufacturer and a U.S. natural purified graphite producer. Additionally, Jacobs mentioned that the company is actively engaged in negotiations for additional off-take agreements with other customers."