Sydney, July 16, 2015 AEST (ABN Newswire) - Neometals Ltd (ASX:NMT) and Mineral Resources Limited (ASX:MIN) have together announced that their jointly owned subsidiary, Reed Industrial Minerals Pty Ltd has entered into a conditional Memorandum of Understanding (MOU) with China's second largest lithium producer Jiangxi Ganfeng Lithium Co., Ltd (SHE:002460). The agreement includes Jiangxi taking 100% offtake from the Mt Marion Lithium Project, netting Neometals around $19.5M.
Poseidon Nickel Limited (ASX:POS) advised that is has commenced delivery of nickel concentrate to Tsingshan in China from its Lake Johnston operation. Poseidon intends to deliver a minimum of 3,000 tonnes of concentrate with a value of around $1.5 million. Material is currently being loaded into containers and trucked to Fremantle for shipment to China. Poseidon expects site shipments to be completed by end of July.
Sabre Resources Ltd (ASX:SBR) announced the zinc-lead discovery at Toggenburg Namibia, has been extended in length by 1000 metres during the recent extension to the shallow geochemical drilling program. Toggenburg shows large zinc and lead anomalies in shallow bedrock, measuring over 2.8 km long and up to 250 metres wide. The strongest values recorded in the most recent drilling with maximum combined zinc and lead values in excess of 2.9%.