Mineral Commodities Ltd's negotiations and ambitions

Mineral Commodities Ltd (ASX: $MRC) through its subsidiary MRC Graphite Pty Ltd is in negotiations with Gold Terrace Pty Ltd to potentially increase its interest in the Munglinup Graphite Project from 51% to 100%. The Company intends to delay satisfying its Earn in Obligation to allow time for a settlement to be agreed.

Executive commentary on negotiations and potential settlement

MRC's Chief Executive Officer, Mr Scott Lowe, stated, 'MRC is encouraged by the good faith negotiations that have taken place with Gold Terrace. Sufficient progress has been made to justify a delay to MRC exercising its earn-in right, to allow time for a commercial settlement to be reached and potentially see MRC's interest in the Munglinup Project increase to 100%. Munglinup is an important element of the Company's suite of graphite assets that includes the Munglinup development project in Australia, the Skaland operating graphite mine in Australia and the Active Anode Material Project.'

Summary of negotiations and outlook

Mineral Commodities Ltd (ASX: $MRC) is in negotiations with Gold Terrace Pty Ltd to potentially increase its interest in the Munglinup Graphite Project from 51% to 100%. The Company aims to settle the dispute and delay satisfying its Earn in Obligation to allow time for a potential commercial settlement. If successful, this would result in MRCG increasing its interest in Munglinup from 51% to 100%. The specific terms being discussed remain confidential, and the outcome remains uncertain. However, if successfully executed and completed, an agreement is likely to result in the dispute being resolved and MRCG owning 100% of the Munglinup Project. The Company's ambitions include becoming a leading vertically integrated diversified producer of graphitic anode materials and value-added mineral products with a commitment to operate with a focus on the Environment, Sustainability, and Governance.