Cobalt Offtake Agreement
Vancouver, BC / TheNewswire / November 14, 2018 / Global Energy Metals Corporation TSXV:GEMC | OTCQB:GBLEF-| FSE:5GE1 (“Global Energy Metals”, “Company” and/or “GEMC”) is pleased to announce that partner Marquee Resources Limited (“Marquee”) has entered into a non-binding Memorandum of Understanding (“MoU”) on a cobalt-copper acceptance agreement for the Werner Lake Cobalt Project (“Werner Lake” and/or the “Project”) with Zhejiang Meidu Haiang Lithium Battery Technology Cochu. Co. (“China Hitrans”), a subsidiary of Meidu Energy Co. Ltd. (code 600175), listed on the Shanghai Stock Exchange. Global Energy Metals currently holds a 70% stake in the project. Commodities trader Trafigura has reached an agreement with the Congolese government to improve conditions at informal mining sites in exchange for cobalt deliveries. .