Birimian Ltd.

Birimian enters into MOU with large Chinese lithium battery manufacturer

Share article on

  • Memorandum of Understanding (MOU) entered with A$3.6B Hong Kong listed lithium battery manufacturer Far East First New Energy Co
  • Agreement is in line with China trend of growing spodumene demand driving vertical integration in the lithium sector
  • MOU further supports development of exciting, high grade, bulk tonnage Bougouni Lithium Project

Birimian Limited (ASX:BGS; “Birimian” and “Company” - https://www.youtube.com/watch?v=2g4bWv1edrw) advises that it has entered into a Memorandum of Understanding (MOU) with a leading Chinese lithium battery manufacturer Far East First New Energy Co ("First Battery").

Under the terms of the non-binding MoU, both parties have committed to work to establish cooperation with respect to mine development and potential financing, commencing with an offtake for up to the lower of 200,000 tons per annum (“tpa”) OR 25% of total annual production of +6% spodumene concentrate.

First Battery is a subsidiary of Hong Kong listed company Far East Smarter Energy Co Ltd (capitalised at over 18 billion RMB ~ AUD3.6 billion).  The company employs over 3000 people, making lithium batteries for applications from power tools and electronics to large energy storage systems and electric vehicle lithium ion batteries. 

Birimian continues to progress discussions with other parties interested in securing supply of chemical grade lithium concentrate, as well as companies interested in developing strategic relationships on the project level.

Birimian continues to advance its high-grade, bulk tonnage, Bougouni Lithium Project in Mali.  Second phase drilling is now underway to extend and upgrade the current 15.5Mt @ 1.48% Li2O resource (for 229,000 tonnes contained Li2O).  Project evaluation studies are well advanced to define preliminary data associated with mining, processing and capital costs, as part of the Project's scoping study.

For further information contact:

Mr Kevin Joyce
Managing Director
08 9286 3045
info@birimian.com

In Europe:
Swiss Resource Capital AG
Jochen Staiger
info@resource-capital.ch
www.resource-capital.ch

Competent Persons Declaration
The information in this announcement that relates to Mineral Resources is based on information compiled by or under the supervision of Mr. Matt Bampton, who is a Member of The Australasian Institute of Mining and Metallurgy and a Member of the Australian Institute of Geoscientists. Mr Bampton is a full-time employee of Cube Consulting Pty Ltd and has sufficient experience which is relevant to the styles of mineralisation and types of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the “Australasian Code for Reporting of Exploration Results. Mr Bampton consents to the inclusion in the report of the matters based on his information in the form and context in which it appears.

Forward Looking Statements
Statements regarding plans with respect to the Company’s mineral properties are forward looking statements. There can be no assurance that the Company’s plans for development of its mineral properties will proceed as expected. There can be no assurance that the Company will be able to confirm the presence of mineral deposits, that any mineralisation will prove to be economic or that a mine will successfully be developed on any of the Company’s mineral properties.

  • Birimian Ltd.: ISIN:AU000000BGS0, WKN:A1JQXE, FRA:N9F, ASX:BGS


New Videos Birimian Ltd.


Endeavour Silver Releases 2016 Annual Review and Sustainability Report

This marks the fifth consecutive year the company has reported on its sustainability initiatives, including the last four under the GRI G4...

Endeavour Silver Corp.

US Gold Corp Stakes 102 Additional Claims at the Keystone Project to Significantly Expand the Nevada Gold Exploration Project

  • Increases property claims by 27% following favorable results from 2016 field exploration program
  • 479 total mining claims represent approximately 15...
US Gold Corp.

Alabama Graphite Appoints Auburn University Professor Emeritus Dr. Robert Cook, P.G. as Strategic Advisor

Dr. Cook is one of America’s most accomplished professional geologists, with more than 40 years of experience in both the state of Alabama and...

Alabama Graphite Corp.