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Lithium Energy Products Signs MOU with Optimum Nano For Lithium Compounds
(via TheNewswire) -500 tonnes per month lithium carbonate -No produc...
About this update from Ares Strategic Mining Inc
[{"type":"text","content":"Lithium Energy Products Signs MOU with Optimum Nano For Lithium Compounds(via TheNewswire)\n \n \n-500 tonnes per month lithium carbonate\n\n\n \n-No production decision has been made so off-take may be outsourced\n\n \n \nVANCOUVER, BRITISH COLUMBIA, CANADA / TheNewswire / January 24, 2017 - LITHIUM ENERGY PRODUCTS INC. (\"Lithium Energy Products\" or \"LEP\" or the \"Company\") (TSX-V: LEP) (FRANKFURT: N8I) today announced that it has signed a Memorandum of Understanding (\"MOU\") with Shenzhen Optimum Nano Energy Co. Ltd (Optimum Nano\") for 500 tonnes per month industrial grade lithium carbonate. \n\n\n \nOptimum Nano http://www.optimumnanoenergy.com/ is one of China's largest lithium ion battery manufacturers with sales in excess of US$1 billion. Their products are exported to more than 40 countries around the world, including USA, Canada, Germany, Italy, India, Indonesia and Australia. Optimum Nano was selected as one of the Top 100 industrial enterprises of Shenzhen in 2016.\n\n\n \nBasil Botha, Chairman and President of LEP said; \"This second MOU, with one of China's biggest and best known battery manufacturers establishes Lithium Energy Products as a credible supplier to the Chinese market. As with the previous MOU announced on 17th January, this buyer understands that we are early stage and that no production decision has been taken and may not be achieved for a few years, however we are also in a position to seek off-take agreements with other producers, so we intend to pursue producers and near term producers in order to begin to supply our customers in China, before we reach production at any of our own projects. Given the scale of this demand, we will be stepping up our efforts to sign off-take agreements with lithium companies who are close to production.\"\n\n \n \nPurchase price will be based on prevailing market prices at the time the desired products are sold. Market price will be determined from an average of the previous 3 months prices published by LME, Metal Bulletin and Platts.\n\n\n \nThe MOU establishes the basic terms to be used in a future off-take agreement between LEP and Optimum Nano. The terms are not comprehensive at this time and may be changed as a binding agreement is negotiated over the coming months.\n\n\n \nIn addition, the company announces that Michael Hepworth has resigned as VP Corpora...