Western Mining Network (ASX:WMN) has signed definitive...

Western Mining Network (ASX:WMN) has signed definitive agreements with a Korean consortium for the engineering, procurement, and construction of a processing and purification plant at its Tamboli Graphite Project in Indonesia.

The contract calls for completion of the plant, which will produce commercial grade graphite powder, within 14 months from the starting date of construction.

Concurrently, WMN has now also signed a definitive agreement with Nexinova Corporation to market the commercial grade graphite powder.

The plant agreement with Udin Engineering Group is contingent upon the company successfully closing financing for the project.

WMN is currently negotiating funding for this project that minimises dilution to current shareholders.

The company is also continuing its exploration program at Tamboli.

A total of 15 successfully recovered drill holes were drilled over approximately 10 ha of the 98 hectare concession.

Based upon evidence from our exploration, the company has begun work to continue to explore the remaining area at Tamboli.

This work will go on simultaneously to the development of the Tamboli’s Beneficiation plant and first phase of production so that the company can continue to provide upside to shareholders through potential continued exploration success while construction and development are ongoing.

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