Lithium Energy Products Signs MOU with Optimum Nano For Lithium Compounds

Lithium Energy Products (TSXV:LEP,FWB:N8I) signed a Memorandum of Understanding with Shenzhen Optimum Nano Energy Co. Ltd for 500 tonnes per month industrial grade lithium carbonate.
As quoted in the press release:

Optimum Nano https://www.optimumnanoenergy.com/ is one of China’s largest lithium ion battery manufacturers with sales in excess of US$1 billion. Their products are exported to more than 40 countries around the world, including USA, Canada, Germany, Italy, India, Indonesia and Australia. Optimum Nano was selected as one of the Top 100 industrial enterprises of Shenzhen in 2016.
Basil Botha, Chairman and President of LEP said; “This second MOU, with one of China’s biggest and best known battery manufacturers establishes Lithium Energy Products as a credible supplier to the Chinese market. As with the previous MOU announced on 17th January, this buyer understands that we are early stage and that no production decision has been taken and may not be achieved for a few years, however we are also in a position to seek off-take agreements with other producers, so we intend to pursue producers and near term producers in order to begin to supply our customers in China, before we reach production at any of our own projects. Given the scale of this demand, we will be stepping up our efforts to sign off-take agreements with lithium companies who are close to production.”

Click here for the full press release.