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Critical Elements scraps potential off-take deal with Helm

Critical Elements Corp. has decided to terminate the September 2015 agreement to sign a take or pay off-take deal with Helm AG.

Under the agreement, the companies had to sign an agreement within 60 days of filing a feasibility study; however, the off-take was not agreed within this time, and Critical Elements decided to not grant an extension.

Meanwhile, Critical Elements intends to kick off a definitive feasibility study for the carbonate plant at its Rose lithium-tantalum project in Quebec in the first quarter of 2018.

The company said Dec. 20 that it is also working with the Eastmain community to finalize the impact and benefit agreement in the next quarter.

Additionally, a new power line is expected to be in place for the planned start-up in 2020 as a result of ongoing discussions with Hydro-Quebec.

Critical Elements also hired Canaccord Genuity Corp. as its strategic financial adviser to help secure strategic partners and investors to advance the Rose project to production.