Alliance Mineral Assets in talks with Burwill over final prepayment of A$4.375m

ALLIANCE Mineral Assets (AMA) said that the company is in discussion with Hong Kong-listed Burwill Holdings Ltd over the third and final prepayment of A$4.375million (S$4.72 million) from Burwill due on Sept 15, 2017, under the lithium concentrate offtake agreement and certain other terms of the agreement.

However, the Australian miner said in a Singapore Exchange filing on Wednesday that there is no certainty in the outcome of the discussion as of to-date and will update when there are any material developments.

The agreement is for the supply of lithium concentrate from the Bald Hill Project in Western Australia over an approximate initial five-year term.

The total amount of the prepayment committed by Burwill is A$12.5million, of which A$8.125million has been received by the company to date, with the final instalment due on Sept 15, 2017.