10:31 AM EST, 01/21/2025 (MT Newswires) -- Century Lithium ( CYDVF ) on Tuesday said it has signed a non-binding memorandum of understanding (MOU) with Orica Specialty Mining Chemicals, ahead of the two parties formalizing a multiyear offtake agreement.

According to the MOU, Orica, a manufacturer and supplier of specialty mining chemicals to Nevada's mining industry, intends to purchase sodium hydroxide (NaOH) from Century Lithium's ( CYDVF ) Angel Island project in Nevada.

The MOU is for an initial 5-year term, and includes right of first offer for an additional five years. The pricing has not yet been determined.

"The non-binding MOU with Orica marks a key milestone for Angel Island," said Century Lithium ( CYDVF ) President and CEO, Bill Willoughby. "The MOU outlines the first expected agreement of its kind for the project and involves a large portion of the surplus sodium hydroxide anticipated during the early years of operation. We are excited to work with Orica and have their support at this stage of development at Angel Island."

Century Lithium ( CYDVF ) was last seen up $0.005, to $0.33, on the TSX Venture Exchange.

Price: 0.33, Change: +0.01, Percent Change: +1.54