Leaf Resources Limited (ASX: LER) announced that it had received a signed non-binding Letter of Intent from Formosa Plastics Group via its Australian arm and authorised representative, Formosa Group Australia Pty Ltd, in relation to the potential offtake of premium wood pellets.
Under the Letter of Intent, Formosa plans to buy around 300,000 tonnes per annum, with a chance to expand, of premium wood pellets for an early period of 3 years from the company’s planned wood pellet production facility to be built in Rotorua, New Zealand.
In addition to the LOI, the company has also signed conditional agreements with two Australian private companies, Formosa Group Australia Pty Ltd and Formosa Technologies Pty Ltd, to invest approximately. AU$5.35 million into the company. The placement includes the issue of approximately 445.5 million fully paid ordinary shares in the company at an issue price of AU$0.012 per share.
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Nextgen Global Services Pty Ltd trading as Kapitales Research (ABN 89 652 632 561) is a Corporate Authorised Representative (CAR No. 1293674) of Enva Australia Pty Ltd (AFSL 424494). The information contained in this website is general information only. Any advice is general advice only. No consideration has been given or will be given to the individual investment objectives, financial situation or needs of any particular person. The decision to invest or trade and the method selected is a personal decision and involves an inherent level of risk, and you must undertake your own investigations and obtain your own advice regarding the suitability of this product for your circumstances. Please be aware that all trading activity is subject to both profit & loss and may not be suitable for you. The past performance of this product is not and should not be taken as an indication of future performance.
