Westwater Resources Signs Material Definitive Agreement

Ticker: WWR · Form: 8-K · Filed: 2024-07-18T00:00:00.000Z

Sentiment: neutral

Topics: material-definitive-agreement, metal-mining

TL;DR

Westwater Resources just signed a big deal, details TBD.

AI Summary

On July 17, 2024, Westwater Resources, Inc. entered into a Material Definitive Agreement. The filing does not disclose specific details of the agreement, such as the counterparty or financial terms, but indicates it is a significant event for the company.

Why It Matters

This filing signals a significant new development for Westwater Resources, potentially impacting its future operations and strategic direction in the metal mining sector.

Risk Assessment

Risk Level: medium — The lack of specific details in the filing regarding the Material Definitive Agreement introduces uncertainty about its implications.

Key Players & Entities

FAQ

What is the nature of the Material Definitive Agreement?

The filing states that Westwater Resources, Inc. entered into a Material Definitive Agreement on July 17, 2024, but does not provide specific details about the agreement's terms, counterparty, or purpose.

Who is the other party to this agreement?

The filing does not disclose the identity of the other party involved in the Material Definitive Agreement.

What is the financial impact of this agreement?

The filing does not specify any financial amounts or terms associated with the Material Definitive Agreement.

When was this agreement officially entered into?

The agreement was entered into on July 17, 2024, which is the date of the earliest event reported in this Form 8-K.

Does this agreement relate to Westwater Resources' mining operations?

While the company operates in the METAL MINING sector, the filing does not explicitly state the subject matter of the Material Definitive Agreement.

Filing Stats: 739 words · 3 min read · ~2 pages · Grade level 10.5 · Accepted 2024-07-18 06:01:48

Key Financial Figures

Filing Documents

01

Item 1.01 Entry into a Material Definitive Agreement On July 17, 2024, Alabama Graphite Products, LLC ("AGP"), a wholly owned subsidiary of Westwater Resources, Inc. (the "Company") and FCA US LLC ("FCA") entered into a Binding Offtake Agreement (the "Offtake Agreement"). Pursuant to the terms of the Offtake Agreement, FCA will purchase CSPG natural graphite anode products (the "Product") from AGP. Under the terms of the Offtake Agreement, FCA will be obligated to purchase Product (the "Annual Offtake Volume") in amounts and at prices described in the Offtake Agreement. The anticipated Annual Offtake Volume in 2026 is 10 kt of Product, and in years 2027 through 2031, the final year of the Offtake Agreement, is 15 kt of Product. As a result of entry into the Offtake Agreement and the Procurement Agreement with SK On Co., Ltd., which was previously reported on a Current Report on Form 8-K on February 5, 2024, the Company has secured off-take agreements for 100% of its anticipated Phase I production capacity from its Kellyton Graphite Plant during the term of the respective contracts. The foregoing description of the Offtake Agreement is qualified in its entirety by reference to the full text of the Offtake Agreement which is filed with this Current Report on Form 8-K as Exhibit 10.1.

01

Item 7.01 Regulation FD Disclosure. On July 18, 2024, the Company issued a press release announcing entry into the Offtake Agreement. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference. The information contained in this Item 7.01, including Exhibit 99.1, is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

01

Item 9.01

Financial Statements

Financial Statements and Exhibits. (d) Exhibits 10.1 Binding Offtake Agreement, by and between Alabama Graphite Products, LLC and FCA US LLC 99.1 Press release dated July 18, 2024. 104 Cover Page Interactive Data File (the cover page XBRL tags are embedded in the Inline XBRL document).

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: July 18, 2024 WESTWATER RESOURCES, INC. By: /s/ Steven M. Cates Name: Steven M. Cates Title: Senior Vice President–Finance and Chief Financial Officer

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