DNI’s Second Madagascar Graphite Project – Marafody PE8904
On July 26, 2017, the Company entered into a non-binding agreement (“LOI”) to buy a property in Madagascar called the Marafody property. The purchase price for Marofody is U$1,650,000 cash, payable as follows:
- USD $100,000, upon signing the LOI
- USD $550,000 shall be paid in 60 days,
- USD $1,000,000 shall be paid in 90 days.