Equinox Resources (ASX:EQN) entered into a nonbinding memorandum of understanding with Alaska Antimony and SB51 to explore off-take, processing, and commercialization for its Alturas antimony project in Canada, according to an Australian bourse filing on Tuesday.
US-based Alaska Antimony was granted the rights to negotiate a right of first refusal over ore and concentrate from the project. This includes the delivery of up to 10,000 tonnes of bulk sample material, allowing for smelter qualification, metallurgical testwork, and downstream compatibility assessments.
Singapore-based antimont trading firm SB51 will be appointed as Equinox's exclusive global marketing and sales agent for ore and concentrate from the project.
The parties agreed to cooperate on metallurgical test work and sample analysis to confirm the suitability of the ore for direct shipping or downstream processing. They will also progress commercial terms, including indicative pricing, logistics, offtake structures, and potential collaboration on downstream refining or processing infrastructure.
The agreement has a term of twelve months, unless extended by mutual agreement, the filing said.
Equinox Resources' shares jumped past 18% in early trading on Tuesday.
Price (AUD): $0.11, Change: $+0.017, Percent Change: +18.28%
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