Chariot Resources Signs MOU With China-Based Battery Materials Company; Shares Down 3%

MT Newswires Live

Jan 02

Chariot Resources (ASX:CC9) signed a memorandum of understanding (MOU) with Shanghai GreatPower Nickel & Cobalt Materials to explore potential collaboration on the company's Nigerian lithium projects, according to a Friday filing with the Australian bourse.

The MOU involves the potential sale and delivery of direct shipping ore from the projects to a collection point in Nigeria, the filing said.

Following due diligence and an offtake agreement, Shanghai GreatPower may acquire up to 200,000 tonnes of spodumene concentrate annually from one of the four Nigerian projects.

Additionally, the parties agreed to discuss credit lines and offtake prepayment financing to support project exploration and development, per the filing.

Chariot Resources shares fell nearly 3% in afternoon trade on Friday.

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