Business
Rock Tech secures binding feedstock offer for its Guben Converter
Rock Tech secures binding feedstock offer for its Guben Converter Canada NewsWire ...
About this update from Rock Tech Lithium Inc.
[{"type":"text","content":"\n \n \n \n Rock Tech secures binding feedstock offer for its Guben Converter\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n Binding offer received\n \n \n for the supply of minimum 250,000 dry metric tonnes of spodumene concentrate over the course of 5 years.\n \n \n \n \n \n \n Discussions continue with additional feedstock partners with further agreements expected in due course.\n \n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n Dec. 4, 2023\n \n \n /CNW/ -\n \n Rock Tech Lithium Inc.\n \n (TSXV: RCK) (OTCQX: RCKTF) (FWB: RJIB) (WKN: A1XF0V)\n \n (the \"Company\" or \"Rock Tech\") is pleased to announce that it has received a binding feedstock supply offer (the \"Offer\") from Castelburg Industrie GmbH (\"Castelburg\"). Castelburg, a renowned supplier in the automotive industry commits to supply a minimum of 250,000 dry metric tonnes of spodumene concentrate feedstock for the Company's conversion facility in Guben,\n \n Germany\n \n over an initial five-year term of the envisaged agreement starting in 2024.\n \n \n \n \n \n \n \n \n \n \n The execution of the binding supply agreement based on the terms of the Offer is subject to a positive result of ongoing due diligence. Under the supply agreement Rock Tech will annually source up to 60,000 dry metric tonnes from Castelburg's source in Salta,\n \n Argentina\n \n , starting in H2 2024. The price of the spodumene concentrate is based on a discount to market prices and will be adjusted for the actual Li2O content. The supply agreement further provides for a potential increase of volumes and extension of the initial term subject to mutual agreement by the contract parties.\n \n \n \n Dirk Harbecke\n \n , Rock Tech's Chairman and CEO comments, \"This is an important milestone for Rock Tech and the advancement of our Guben project, as independent 3\n \n rd\n \n party feedstock is a key step to finalize the financing for our German converter. Castelburg is another strong European industry partner backs us, offering its relationships in\n \n South America\n \n to support our f...