Australian Renewable Fuels Ltd. Announces Term Sheet For Supply Of Biodiesel Thursday, 17 Apr 2008 09:52pm EDT Australian Renewable Fuels Ltd. announced that it has concluded a Purchase Term Sheet for the supply of biodiesel (B100 tallow/canola/yellow grease based) to a prominent West Australian resource company. The Term Sheet outlines the supply of a minimum quantity of five million litres of biodiesel per annum with a target volume of 7.5 million litres per annum and is for a continuous period of five years, unless terminated earlier by either party by 90 days written notice. Fundamental to the proposed contract is the pricing of the product on a cost plus basis with incentives to benefit both parties under prescribed circumstances. The parties have also agreed to construct blending infrastructure to be situated at the customer's mine site for storage of ARF supplied biodiesel. These obligations are subject to ARF procuring funding for the blending infrastructure for an amount of up to $1.5 million.
TEK Price at posting:
2.0¢ Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)