Brief: Pilbara Minerals, Calix Agree Key Terms For JV In Updated Binding MoU

Calix

01/06/2022 05:42

June 1 (Reuters) - Pilbara Minerals Ltd  PLS.AX :
    * UPDATE ON PLS & CXL PROJECT
    * CO, CALIX AGREED KEY COMMERCIAL TERMS FOR JV IN UPDATED
BINDING
MOU
    * JV WILL BE ESTABLISHED FOR POTENTIAL DEVELOPMENT OF
DEMONSTRATION PLANT AT PILGANGOORA PROJECT
    * PARTIES INTEND TO FINALISE AND EXECUTE FORMAL JOINT
VENTURE
AGREEMENT IN Q3 2022
    * IN NEXT PHASES OF PROJECT, EXECUTION OF FORMAL JV
AGREEMENT
DURING Q3 2022 AND FINAL INVESTMENT DECISION IN EARLY 2023
    * UPON FORMATION OF JV, PARTICIPATING INTERESTS WILL BE 55%
CO &
45% CALIX

Source text for Eikon:  ID:nASXbNdys8 
Further company coverage:  PLS.AX   CXL.AX 

 ((Reuters.Briefs@thomsonreuters.com;))