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CORE LITHIUM LTD — Capital/Financing Update 2022
Aug 28, 2022
64737_rns_2022-08-28_096c49c5-731b-4af5-89df-6e605df12df3.pdf
Capital/Financing Update
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ASX: CXO Announcement
29 August 2022
Core and Tesla extend Offtake Term Sheet
Australia's next lithium producer, Core Lithium Ltd ( Core or Company ) (ASX: CXO ), advises that is has mutually agreed with Tesla, Inc. ("Tesla") to extend the termination date for its binding offtake term sheet (“Offtake Term Sheet”) with Tesla to 26 October 2022.
The extension allows Core and Tesla to complete negotiations for the definitive full form binding offtake agreement.
The Offtake Term Sheet with electric vehicle manufacturer Tesla is for the supply of up to 110,000 dry metric tonnes of lithium spodumene concentrate produced at Core's Finnis Lithium Project expected to commence in 2023 (refer to ASX Announcement 2 March 2022).
This announcement has been approved for release by the Core Lithium Board.
For further information please contact: For Media and Broker queries: Gareth Manderson Fraser Beattie Chief Executive Officer Account Manager Core Lithium Limited Cannings Purple +61 8 8317 1700 +61 421 505 557 [email protected] [email protected]
About Core Lithium
Core Lithium is building Australia's newest and most advanced lithium project on the ASX, the Finniss Project in the Northern Territory.
Finniss has been awarded Major Project Status by the Australian Federal Government, is one of the most capital efficient lithium projects and has arguably the best logistics chain to markets of any Australian lithium project.
The Finniss Project will provide the globe with high-grade and high-quality lithium suitable for lithium batteries used to power electric vehicles and renewable energy storage.