Brief: Ceylon Graphite Announces MoU For Joint Venture With Strategic Partner To Develop And Operate Additional New Graphite Mines
07/07/2021 13:31
July 7 (Reuters) - Ceylon Graphite Corp CYL.V :
* CEYLON GRAPHITE ANNOUNCES MOU FOR JOINT VENTURE WITH
STRATEGIC
PARTNER TO DEVELOP AND OPERATE ADDITIONAL NEW GRAPHITE MINES AND
A LOCAL UPGRADING FACILITY TO MEET GLOBAL BATTERY ANODE NEEDS
* CEYLON GRAPHITE CORP - MOU PROVIDES FOR CEYLON AND LOLC TO
DEVELOP AND OPERATE A MINIMUM OF THREE MINES ON GRIDS LOCATED
NEAR GOVERNMENT OWNED KAHATAGHA MINE
* CEYLON GRAPHITE - DEVELOPMENT OF NEW MINES WILL BE FUNDED
ON PRO
RATA BASIS, WILL BE OPERATED BY CO & CO WILL AGREE TO OFFTAKE
MINE PRODUCTION FOR FURTHER PROCESSING
* CEYLON GRAPHITE - UNDER TERMS OF MOU, LOLC INTENDS TO
PURCHASE
UP TO 15% OF CEYLON SHARES EITHER AS A LEAD ORDER ON A FUTURE
FINANCING OR UNDER SEPARATE TERMS
Source text for Eikon: ID:nGNX5RZRFZ
Further company coverage: CYL.V
((Reuters.Briefs@thomsonreuters.com;))
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