Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

Polymet Mining Corp PLM.R.W


Primary Symbol: T.POM

PolyMet Mining Corp. is a mine development company. The Company is engaged in mining copper, nickel and precious metals from the NorthMet ore body. The Company owns the NorthMet Project and Mesaba Project, which is a copper, nickel, cobalt and platinum group metal (PGM) deposits. The NorthMet deposit is located in the Partridge River Intrusion of the Duluth Complex, a geological formation near the eastern end of the Mesabi Iron Range, which is an undeveloped accumulation of copper, nickel and platinum group metals. The Mesaba Project is located in St. Louis County, Minnesota. Its NorthMet is a disseminated sulfide deposit in heterogeneous troctolitic rocks associated with Mid-continent Rift, and is rich with copper, nickel, cobalt, platinum, palladium, gold and silver. The majority of the metals are concentrated in, or associated with, four sulfide minerals: chalcopyrite, cubanite, pentlandite and pyrrhotite.


TSX:POM - Post by User

Post by EricSnotton Sep 08, 2023 6:46pm
174 Views
Post# 35627071

A heads up here for POM investors...GLENCORE is now in with

A heads up here for POM investors...GLENCORE is now in with c.TTX as per TTX's NR earlier:

 

Tantalex signs term sheet with Glencore for Manono

 

2023-09-08 17:26 ET - News Release

 

Mr. Eric Allard reports

MARKETING OFFTAKE AGREEMENT FOR SPODUMENE CONCENTRATE (SC6) TO BE PRODUCED FROM THE MANONO LITHIUM TAILINGS PROJECT LOCATED IN MANONO, TANGANYIKA PROVINCE, IN THE DRC.

Tantalex Lithium Resources Corp. received and executed a term sheet from Glencore International AG on Sept. 8 for a marketing offtake agreement for the lithium to be produced from its Manono lithium tailings project.

The term sheet includes the following key commercial terms:

 

  • Secured convertible financing facility in three tranches;

 

 

  • First tranche $2-million (U.S.) upon execution of the marketing offtake agreement (MOA);

 

 

  • Second tranche $3-million (U.S.) upon Glencore's satisfactory review of the PEA (preliminary economic assessment);

 

 

  • Third tranche financing of one-third of the total capital expenditure required for the Manono lithium tailings project subject to conditions precedent;

 

 

  • Commitment fee of 1.5 per cent flat calculated on the total initial prepayment amount, to be deducted from the prepayment on each disbursement;

 

 

  • The transaction is subject to various CPs, including the execution of definitive agreements and completion of outstanding due diligence to Glencore's satisfaction.

 

Eric Allard, Tantalex Lithium chief executive officer, commented: "We are delighted to have the support of Glencore for the upcoming Manono lithium tailings project. Glencore already has very well-established mining operations in the DRC [Democratic Republic of the Congo] with important cobalt and copper assets. Their experience and expertise in country will be crucial for developing further our activities in the DRC. The capex financing commitment is a significant milestone in the de-risking of the project and achieving our goal to become the first lithium producer in the DRC."

<< Previous
Bullboard Posts