The agreement in principle with Zhejiang Meidu Haichuang Lithium Battery Technology Co, also known as China Hitrans, covers future production at the Werner Lake cobalt project in Ontario.
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Under the non-binding agreement, Marquee will provide China Hitrans with a metallurgical sample for independent testing within three months.
The agreement only applies to the 30% stake Marquee holds in the Werner Lake deposit. The remaining 70% interest is held by Global Energy.
China Hitrans develops, produces and sells ternary cathode materials and ternary precursors for lithium batteries.
In September, Global Energy announced a C$500,000 private placement with net proceeds used for cobalt project acquisitions.
Contact Dennis Fitzgerald at [email protected]