The testwork was completed by a major Chinese trading company (rated one of China’s top 100 listed companies, with annual trade volume exceeding RMB 10 billion) and one of the leading importers of ferrous and non-ferrous metals into China. The testwork is the third independent analyses and testwork completed on the manganese ore produced and exported from the Company’s Emmanuel Project in Zambia. As a result of the testwork completed which has verified previous results, the Company has received from them a second indicative and non-binding offer of an off-take agreement, for the supply of a minimum 48% manganese ore lump product, that is proposed to be priced at a premium to BHP’s reference price (expressed in US$ DMTU (per dry metric ton unit Mn content)), CIF China basis. The Company is currently reviewing the terms and conditions of the indicative off-take agreement and will update the market in the event a binding agreement is reached.
KAB Price at posting:
1.9¢ Sentiment: Buy Disclosure: Held
