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Burwill to pay A$25 mil for exclusive selling rights to Alliance Mineral Assets’ Bald Hill lithium

Jude Chan Published on Fri, Apr 21, 2017 / 11:49 AM GMT+8

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SINGAPORE (April 21): Hong Kong-listed Burwill Commodity announced in a regulatory filing on Thursday that it has entered into offtake agreements with Alliance Mineral Assets, Lithco No. 2, and Tawana Resources.

Burwill will advance by instalments A$25 million ($26.3 million) for exclusive selling rights to the lithium concentrate flowing from the Bald Hill Project in Western Australia for a five-year term, and pre-emptive rights for subsequent five years.

Burwill has made an initial advance payment of A$7.5 million upon signing of the agreement, and will make two further advance payments of A$8.75 million each in July and Sept 2017.

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Burwill to pay A$25 mil for exclusive selling rights to Alliance Mineral Assets’ Bald Hill lithium