Brasil Graphite Option Expiry and Renegotiation
Brisbane, Dec 2, 2015 AEST (ABN Newswire) - Sayona Mining Limited (
ASX:SYA) ("Sayona" or the "Company") reports that the Option-to-Purchase agreement announced on the 5 August 2015 to acquire the Itabela graphite project from Brasil Graphite SA ("BGSA") expires today.
The Company is finalising a new agreement with BGSA to extend and re-structure the deal, including a substantial reduction in up-front committed cash. Sayona expects that the terms should be announced in the next ten days, once deal is finalized and signed.
BGSA has agreed to provide the Company with continued exclusivity until the new deal is signed.
About Elevra Lithium Limited
Elevra Lithium Limited (ASX:ELV) (NASDAQ:ELVR) is a dual-listed lithium producer and developer, supplying a reliable, secure and sustainable source of this critical mineral at the heart of global electrification.
Headquartered in Brisbane, Australia, Elevra has a globally diversified portfolio of world-class lithium assets across Quebec, North Carolina, Ghana, and Western Australia. Elevra was formed through the merger of Piedmont Lithium and Sayona Mining.
By combining operational excellence with disciplined asset management, we strive to maximise efficiency, drive superior shareholder value, and create lasting benefits for all stakeholders.
| ||
|
