Sidney Resources has signed a firm offtake agreement with Ocean Partners UK for the sale of direct-shipping gold ore from its Warren Valley project in Idaho. The agreement covers an initial parcel of approximately 25,000 wet metric tonnes of ore, which will be delivered CIF to Asia.

Under the terms, Sidney will be paid for the gold and silver content in the material. The contract includes a redundant sampling and assaying process, conducted jointly by the two companies after crushing and delivery to warehousing, to verify ore value prior to payment. The framework is designed to be scalable, allowing for additional shipments as the company increases operational capacity from its current 50-ton-per-day mill toward a planned 450-ton-per-day rate.

“Reaching a firm offtake agreement with a partner of Ocean Partners' caliber is exactly the kind of independent validation we have worked toward. It confirms that our ore meets the exacting quality and marketability standards of the global market, and it opens a clear pathway to revenue.”

— Sean-Rae Zalewski, Chief Executive Officer, Sidney Resources Corporation

“This agreement is a validation and verification of the value of the Warren Valley project. Ocean Partners evaluates mineral opportunities around the world, and after independently testing this material we are confident in both its quality and its marketability.”

— Brent Omland, President & Chief Executive Officer, Ocean Partners

Read the full announcement: Sidney Resources Secures Firm Offtake Agreement With Global Metals Trader Ocean Partners for Its Idaho Gold Ore