http://www.fangxingkj.com/shownews.asp?id=469
The above link is the announcement from Triumph Science. I will highlight the key points in the contract in case you can't read Chinese.
Triumph Science signs ilmenite purchase agreement for 5 years since the production commences on Thunderbird project. The purchase quantity is of 50% of Thunderbird Operations Pty Ltd annual production but not over 150,000 tons a year. Price will be negotiated on a quarterly basis.
Triumph Science is currently a business partner with an Australian company called Iluka. The contract with Sheffield Resources secures its future supply, which is expected to be positive to the company's future revenue. (National Accreditation Authority for Tanslator and Interpreter NO. 11115X)
Hold on tight and fingers crossed.
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