29 August 2016
ELEMENTOS AND THAISARCO SIGN OFFTAKE
MEMORANDUM OF UNDERSTANDING
HIGHLIGHTS
? Strategic alliance established with Thailand Smelting and Refining Company
for future supply of tin concentrates from the Cleveland project.
? The MOU contemplates Thaisarco purchasing at least 100 tonnes per month
of tin concentrate.
? Attractive market related MOU smelter terms.
Elementos Limited (ASX: ELT) (“Elementos” or the “Company”) is pleased to announce the
signing of a Non-Binding Memorandum of Understanding (“MOU”) with Thailand Smelting
and Refining Company (“Thaisarco”).
The MOU is for Thaisarco to purchase a minimum of 100 tonnes per month of a 55% tin
concentrate from the Cleveland tin project. This supply of concentrate to Thaisarco is
planned to occur as soon as production at Cleveland commences. Elementos and
Thaisarco intend establishing a formal offtake agreement as part of the on-going
development activities and strategy of advancing Cleveland towards production.
Thaisarco is recognised worldwide as an industry leader in the manufacture of tin, tin alloys
and tin-related, added value products. From its LME registered Thaisarco and Phuket brands
of pure tin to specialty alloys, solders, powders and extruded products, Thaisarco specialises
in solutions tailored to meet its customers' needs. Thaisarco was founded in 1963 and based
in Phuket, Thailand.
Elementos Executive Director, Mr Christopher Dunks said, “The signing of the MOU for the
sale of tin concentrates from the Cleveland project is a milestone event for the Company
in transitioning from developer to producer. We are extremely pleased to formalise a
strategic relationship with Thaisarco given their expertise and international business standing
in the global tin industry.”
Thaisarco is managed and operated by its majority shareholder Amalgamated Metal
Corporation PLC (AMC) of the UK. AMC is an international group which trades,
manufactures and distributes non-ferrous metals and metal based products for industrial
applications. Mr. Andrew King, Group Business Development Director at AMC said “AMC
and Thaisarco evaluate most planned tin projects and we are excited to be working with
Elementos to assist in the development of a low sovereign risk, long mine life project like
