Volt Resources Ltd. has granted Graphex Technologies LLC a time extension to sign an offtake agreement for fine flake graphite product from its Bunyu Graphite Project in Tanzania.
The agreement follows a Letter of Intent (LOI) entered into between Graphex and Volt Graphite Tanzania Ltd., a wholly-owned subsidiary of the graphite producer and battery materials developer.
Graphex has requested for extra time to focus on critical activities associated with its expansion plans and following its recent listing on the NYSE American Exchange.
The terms of the non-binding LOI provide for the supply and purchase of 5,000 tonnes of fine flake graphite product annually for 10 years from the Bunyu Graphite Project, with the option to increase to 10,000 tonnes annually subject to agreement.
