Andromeda finds takers for Poochera product
PERTH (miningweekly.com) – ASX-listed Andromeda Metals has received new non-binding letters of intent (LoIs) for the offtake of potentially 307 000 t/y of dry processed halloysite-kaolin from its Poochera project, in South Australia.
The company told shareholders on Monday that Chinese specialty minerals company Anpeak China had signed an LoI for 120 000 t/y, while Weifang Engers Ceramics had signed an LoI for 50 000 t/y, Guangzhou Ghangying Trade for 30 000 t/y, Guangzhou Jinghui Ceramics Material for 5 000 t/y and Foshan Mei Zhi Hui Ceramic Materials for 2 000 t/y.
The offtake agreements were signed on the understanding that the eventual commercial production material from Poochera would match the specifications of samples provided.
Andromeda on Monday said that the rapid receipt of offtake LoI’s from a number of potential customers, over a range of applications, showed positive support for the company’s strategy of using the low-cost dry processing option to increase the value of the mineral, and to significantly reduce logistics costs.
Andromeda can acquire up to a 75% interest in the Poochera project by either sole funding A$6-million over a five-year period, or a decision to mine by the joint venture partners has been reached.
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