Gratomic announces the entering into of a definitive off take agreement for graphite concentrate to be produced from its Aukam Graphite mine in Namibia.
As part of the Graphite Concentrate sales Agreement (Sales Agreement), Gratomic has appointed Phu Sumika ("PSK") as its exclusive marketing agent, in continental Europe, for the sale of graphite concentrate to the refractory, lubricant and battery Markets.
Pursuant to the Sales Agreement, PSK will purchase up to 7,500 Dry Metric Tonnes annually, for a period of five years from the date commercial production commences at Aukam. The contract contemplates the sales of graphitic product ranging from 80% Carbon to 99.9% Carbon at prices ranging between US$500-US$2800 per Metric Tonne (depending on grade, moisture content and industry use).
Gratomic is satisfied with the high value range of product pricing for the selected markets. Gratomic has delivered PSK with samples grading 92%, 97%, 99% and 99.9% over the past 3 months for testing in a verity of end uses. The results now positively match buyer specifications and will qualify the sales agreement for deliveries going forward.
Aukam Production Update
Gratomic has recently consulted with a processing expert in Toronto and has been able to produce several batches of Battery Grade Graphite grading over 99.9% the Company is currently compiling a budget to integrate the suggestive plant adjustment onto its processing circuit within the next 3 months. This will allow the company to commence with the production and sale of battery grade Graphite targeted towards the rapidly growing battery industry mainly being dominated by the increase of demand for electric vehicles worldwide.
In addition Gratomic expects the delivery of the final components of its Aukam processing plant within the next 49 days, this will complete the construction of the first phase of our Processing facility and bring it up to a 3 metric tonne per hour Processing Capacity.
The company continues its focus on further developing and commercializing its Graphene Processing capacity in wales through its partnership with Perpetuus carbon technologies and anticipates soft launching its Gratomic fuel efficient tire in the summer. Gratomic has recently prepared an additional 2 tonnes of Graphite concentrate which it will be shipping to wales in the coming days for converting into high quality Graphenes targeted for the use and development of several high value Graphene applications.
Gratomic's CO-CEO Arno Brand stated, "The entering into of the sales agreement and exclusive marketing agreement with Phu Sumika is the culmination of several years of work, Gratomic is now well positioned and ready to monetize its operations through graphite sales. We thank our loyal shareholders for their support throughout the years and their contributions in helping us in commercialize the Aukam Mine"