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GREEN360 TECHNOLOGIES LIMITED — Capital/Financing Update 2021
Mar 7, 2021
65020_rns_2021-03-07_e042fe8f-6e4c-416d-9f8f-ec2bfd3cf280.pdf
Capital/Financing Update
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ASX ANNOUNCEMENT
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8 March 2021
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SUVO STRATEGIC MINERALS LIMITED
Term Sheet Signed for First Offtake for Suvo’s White Cloud Kaolin Project
ABN: 97 140 316 463
CORPORATE DETAILS: ASX: SUV
DIRECTORS:
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Toye Industrial Mineral Consultants (CMM) (Term Sheet)
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Term Sheet records CMM's indicative interest to purchase 10,000 tonnes per annum of high quality kaolin product at AUD $850 per tonne, subject to entry into of formal agreement and commencement of commercial production
Robert Martin Executive Chairman
Len Troncone Executive Director, COO/CFO Aaron Banks Executive Director Dr Ian Wilson Non-Executive Director
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CMM is a substantial buyer of high grade kaolin for use in the manufacture of specialist ceramic products
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Discussions between CMM and Suvo are ongoing regarding expansion of Term Sheet to include a distribution arrangement
CONTACT DETAILS: Level 9, 182 St Georges Terrace Perth, Western Australia 6000
P +61 (8) 9389 4495 E [email protected] W www.suvo.com.au
Australian kaolin producer and silica sand exploration company, Suvo Strategic Minerals Limited (‘Suvo or the Company’), is pleased to announce that it's wholly-owned subsidiary, Mt Marshall Kaolin Pty Ltd ( Mt Marshall Mineral Consultants ( Term Sheet of a legally binding offtake agreement ( Formal Agreement envisaged that Mt Marshall will be required to supply to CMM a Suvo's 100% owned White Cloud Kaolin project in Western Australia.
Commenting on the offtake agreement, Suvo’s Executive Director, Aaron Banks, said “ The entry into the term sheet with CMM to progress one of the many expected offtake agreements from our White Cloud project at this early stage validates not only the quality of our kaolin, but the speed at which the company is systematically progressing this unique resource.”
8 March 2021
ASX ANNOUNCEMENT
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CMM Managing Director, Chris Toye, stated, “ to potentially secure a source of high quality kaolin from a previously undiscovered deposit is extremely exciting and we look forward to working with the team at Suvo to develop this relationship further over time ”.
Key details of the Term Sheet are detailed below.
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The Formal Agreement is to provide that Mt Marshall will supply to CMM a minimum of 10,000 tonnes per annum of high grade kaolin at AUD $850 per tonne from the White Cloud kaolin project in Western Australia
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Parties agree to consult in good faith towards negotiating and agreeing the Formal Agreement by no later than 31 December 2022
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The Formal Agreement will contain a condition precedent which provides that the Formal Agreement will not come into effect until the White Cloud kaolin project has commenced commercial production
This release of this announcement has been approved for release by the Board of Directors
Contacts:
Robert Martin
Len Troncone
Executive Chairman Executive Director, COO/CFO E: [email protected] E: [email protected]
Company Profile:
Suvo Strategic Minerals Limited is an Australian hydrous kaolin producer and exploration company listed on the Australian Securities Exchange (ASX:SUV) focused on the production and redevelopment of their 100% owned Pittong hydrous kaolin operations located 40km west of the township of Ballarat in Victoria and their 100% owned White Cloud Kaolin Project located in Gabbin in the Central Wheat Belt, and the 100% owned Nova Silica Sands Project located in the Gin Gin Scarp near the township of Eneabba, both situated in Western Australia.
suvo.com.au