Magnis Resources Signs Graphite Sales Agreement

Magnis Resources Limited (ASX:MNS) is pleased to announce the securing of a Sales Agreement for the supply of flake graphite with World Plastik ve Petrokimya Sanayi ve Ticaret, a division of the World Group.

The Agreement signed for 25,000 tonnes per annum of flake graphite consisting of 15,000 tonnes per annum of Super Jumbo (+500 microns) at 97-99%TGC purity and 10,000 tonnes per annum of Jumbo (+300 microns) at a purity of 97.5% – 99.5%TGC. Under the agreement, Magnis can source the graphite from its Nachu project, as well as from other mines that produce graphite based on the above specifications.

Pricing is fixed over the initial 3-year term and is commercial in confidence with first delivery expected in 2019.

Overall pricing exceeds the forecasts used in the Magnis Bankable Feasibility Study released via an announcement to the ASX on 31 March 2016.


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