The sale price for March quarter shipments is 15% lower than December quarter shipments.
() has timed the divestment of its 13.8% ownership in the Mt Marion Lithium Project well as product prices have taken a tumble.
The sale price for 6% spodumene concentrate shipments for the March 2019 quarter will be $US791.84 per dry metric tonne (dmt), compared with US$930.80/dmt for the prior quarter.
Neometals is in the process of divesting its equity interest in the lithium operation for $103.8 million cash.
Earlier this week, purchaser Ganfeng Lithium Co Ltd advised that it had obtained clearance from the Australian Foreign Investment Review Board (FIRB) for its part of the transaction.
The only remaining condition to satisfy for the acquisition is confirmation by Chinese regulatory authorities of their acceptance of Ganfeng’s necessary filings.
The sale agreement with co-shareholders Ganfeng and () will see Neometals retain a life-of-mine annual offtake of 57,000 tonnes of spodumene concentrate.
NO INVESTMENT ADVICE
The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...
In exchange for publishing services rendered by the Company on behalf of Neometals Ltd named herein, including the promotion by the Company of Neometals Ltd in any Content on the Site, the Company receives from said...
FOR OUR FULL DISCLAIMER CLICK HERE