On Tuesday the company announced that a second binding offtake agreement had been signed with Chinese graphite products manufacturer Qingdao Risingdawn Graphite Technology Co., Ltd. The term sheet secures sales of an additional 25% of planned annual production for the first three years.
Then yesterday the company announced that a five year binding Global Sales, Purchase and Marketing Agreement has been signed between its 100% subsidiary Lindi Jumbo Limited and international commodities trading house Wogen Pacific Limited. The Agreement provides that Wogen will actively market Walkabout’s graphite concentrate globally and will initially contract to buy and market a minimum of 10,000 tonnes up to a maximum of 30,000 tonnes per annum of concentrate.
WKT management is clearly on the ball and has been kicking a lot of goals recently in regard to its Lindi Jumbo graphite project. It will be interesting to see where the WKT share price eventually settles. I suspect it may see 30c in the short term based on positive sentiment alone.