The move comes after a 100,000 ton per year MoU for off-take agreement with SINOMA earlier this year.

Sinsoteel Liaoning and Dalian InterContinental New Materials intend to buy graphite for ten years with an option to extend.

The graphite is expected to be in the range of 92-95% total graphitic carbon.

Uranex CEO Frank Houllis said: "Today’s announcement, our current drilling program and the commencement of our pre-feasibility study shows the great progress being made."

The company is currently processing the core from the ongoing drill program, and will soon provide product samples to Sinosteel Liaoning, Dalian InterContinental and SINOMA.