Andromeda signs another Binding Offtake Agreement for KCM 90 from the Great White Project
Andromeda Metals Limited (ASX: ADN) (Andromeda, the Company) a near-term producer of the halloysite-kaolin industrial mineral is pleased to announce that it has signed a second legally binding offtake supply term sheet (Agreement) to supply its Great White KCM™90 product from the Great White Kaolin Project in South Australia subject to standard conditions precedent.
Highlights
- Andromeda has signed another legally binding offtake Agreement with the highly respected Japanese porcelain manufacturer Plantan Yamada to supply halloysite-kaolin from the Great White Kaolin Project
- The binding Agreement is for up to a total of 43,000 tonnes of Great White KCM 90 over the first three years of production at a price in excess of the Definitive Feasibility Study pricing
- The Agreement includes sales into the ceramics sector of Japan, adding further geographic diversity to the customer base
- This agreement adds to the recent binding offtake agreement signed with Asia Mineral Resources (ADN ASX Release 26 July 2022 - Andromeda Signs Binding Halloysite-Kaolin Offtake Term Sheet) for Great White KCM 90
- Negotiations are in progress to lock in additional strategic offtake agreements for the initial Great White plant output to further de-risk the project
- This includes the Great White HRM concrete additive and Great White SRM suspension aid additive where a Letter of Intent for exclusive distribution rights into Asia/Pacific has already been signed with IMCD who are the world’s largest additives distributer
Link to Full ASX Announcement
DISC: Held in SM and tiny amount in RL
