Project Financing Update for the Ta Khoa Project

Blackstone Minerals Limited (“Blackstone” or the “Company”) is pleased to provide an update on project financing for the Company’s flagship Ta Khoa Project in northern Vietnam.

Highlights

• Lender engagement undertaken with select globally recognised Commercial Banks, Export Credit Agencies (ECAs) and Multilateral Agencies; supported by Korea Development Bank (KDB) and BurnVoir Corporate Finance (BurnVoir).
• Positive engagement has indicated strong interest from financiers in the Ta Khoa Project and provided valuable feedback to incorporate into the ongoing Definitive Feasibility Study.
• Relationships with financers will ensure key project decisions are optimised from a technical, commercial and funding perspective.

Blackstone is pleased to announce the successful completion of lender engagement with select financiers including globally recognised Commercial Banks, Export Credit Agencies (ECAs) and Multilateral Agencies. The engagement follows a round of pre-soundings undertaken in Q4 2021 across a broader suite of potential lenders.

Lender engagement has been managed by Blackstone’s debt financing co-advisors KDB and BurnVoir. KDB and BurnVoir are acting jointly and in collaboration with Blackstone to secure an attractive, flexible funding package for the development of the Ta Khoa Project.

Lender feedback to date has informed Blackstone’s financing strategy and has enabled Blackstone to refine its ongoing technical studies and commercial arrangements including supply agreements, offtake arrangements and project partnering negotiations.

An update on the Ta Khoa partnership model, and supporting project financing, will be provided before year end.

Blackstone Minerals’ Managing Director Scott Williamson commented:

“The feedback generated via our targeted lender engagement strategy has provided valuable intelligence to guide our development of the Ta Khoa Project.

Valuable insights received through this process have already resulted in positive actions that Blackstone has implemented to further de-risk technical, commercial and funding elements of the Project. We look forward to advancing our lender engagement through their due diligence and credit approval processes as we move closer to a final investment decision on Ta Khoa in 2023.

We are pleased to have a world-class group of potential lenders demonstrate their ongoing strong interest in the Ta Khoa Project.”

Authorised by the Managing Director on behalf of the Board of Blackstone Minerals Limited.

For more information please contact:
Scott Williamson
Managing Director
+61 8 9425 5217
scott@blackstoneminerals.com.au

About Blackstone

Blackstone Minerals Ltd (ASX: BSX / OTCQX: BLSTF / FRA: B9S) is focused on building an integrated upstream and downstream battery metals processing business in Vietnam that produces NCM Precursor products for Asia’s growing Lithium-ion battery industry. The Company owns a 90% interest in the TKNP. The TKNP is located 160km west of Hanoi in the Son La Province of Vietnam (refer Figure 1) and includes an existing modern nickel mine built to Australian standards, which is currently being used to process nickel ore delivered by the underground bulk sample program. The Ban Phuc nickel mine successfully operated as a mechanised underground nickel mine from 2013 to 2016.

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