Business
Offtake MoU Extended
Offtake MoU Extended.
About this update from Capital Metals Plc
[{"type":"text","content":"\n\nTHIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION NO 596/2014 WHICH IS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL) ACT 2018, AS AMENDED. ON PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.\n \n24 August 2023\n \nCapital Metals plc\n \n(\"Capital Metals\" or the \"Company\")\n \nOfftake MoU Extended\n \nAgreement with world's No. 1 manufacturer of high-performance titanium dioxide pigments to fund the Eastern Minerals Project into production\n \nCapital Metals (AIM: CMET), a mineral sands company approaching mine development stage at the high-grade Eastern Minerals Project in Sri Lanka (the \"Project\"), is pleased to announce that the Company has agreed an extension until 31 December 2023 of its Memorandum of Understanding (\"MoU\") with LB Group (002601:SHENZHEN; Market Cap: US$5.7 billion), the world's leading manufacturer of high-performance titanium dioxide pigments and sponge, to fund the Project into production.\n \nThe key terms of the MoU remain as announced on 9 May 2023.\n \nGreg Martyr, Executive Chairman, commented:\n \n\"We continue to have a constructive relationship with our prospective future partner in the Project which is reflected in their renewed commitment and our mutual desire to extend the MoU while we work to have the suspension of our mining licences lifted. Sri Lanka will benefit enormously from the involvement of the world's leading titanium dioxide pigment manufacturer in the Project through value addition in-country, knowledge transfer and significant export income generation. We look forward to getting the Project back on track and to concluding this offtake agreement with LB Group.\"\n \nFor further information, please visit www.capitalmetals.com or contact:\n \n\n\n\nCapital Metals plc\nGreg Martyr (Executive Chairman)\n \n\n\nVia Vigo Consulting\n\n\n\n\nVigo Consulting (Investor Relations)\nBen Simons / Peter Jacob\n\n\n+44 (0)20 7390 0234\[email protected]\n\n\n\n\nSPARK Advisory Partners (Nominated Adviser)\nNeil Baldwin / James Keeshan\n\n\n+44 (0)20 3368 3554\n\n\n\n\nTavira Financial\nJonathan Evans / Oliver Stansfield\n\n\n+44 (0)20 7100 5100\n\n\n\n...