Agreement proposal submitted to major South African ferrochrome producer based on letter of intent
On 1 October 2018, Ripasso Energy AB announced that it had signed a letter of intent (LOI) with one of South Africa's largest ferrochrome producers. In early March 2019, a proposal regarding an agreement was submitted to the company in question. According to the letter of intent, the intention was for an agreement to be entered into by 31 March 2019 at the latest. The counterparty has requested additional time in order to fully evaluate the proposal from a technical and legal perspective. Ripasso Energy will issue a separate press release on the day of the proposed agreement’s acceptance