Westwater Resources (WWR) announced that it has received a letter of interest from US EXIM Bank for its Kellyton Graphite Plant, under the “Make More in America Initiative” and the “China and Transformational Export Program.” The letter of interest is separate from the Phase I debt syndication process for the Kellyton plant previously announced, which is still progressing. “Westwater continues to make progress syndicating its previously announced debt facility. This LOI from EXIM adds additional potential sources of funding as we continue the development of our Kellyton graphite anode processing plant, which is 100% sold out for phase one,” said Steve Cates, Westwater’s Chief Financial Officer. The progression from a letter of interest to a loan commitment from EXIM requires a formal application, and for EXIM to complete due diligence, underwriting, and finalization of terms and conditions. No assurance can be given that the Company will ultimately enter into a loan transaction with EXIM.
Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on WWR:
- Westwater Resources reports increased demand for Kellyton products after tariffs
- Westwater Resources Reports 2024 Achievements and Financials
- Westwater ‘supports’ executive order to increase American mineral production
- Westwater Resources: 2024 financial statements include ‘going concern’ opinion
- Westwater Resources initiated with a Buy at H.C. Wainwright