NVRO Metals Limited (TSXV: NVRO) entered into a non-binding heads of agreement with Transamine SA for a proposed copper cathode offtake and financing package valued at up to $25 million, according to a company statement.

The agreement dated June 10 includes an offtake arrangement where Transamine would purchase copper cathode production from NVRO's planned metals hub in Australia's Northern Territory for a limited period and quantity. Pricing would be linked to market benchmarks and applicable premiums for LME Grade A copper cathode.

The proposed financing structure comprises three components: a prepayment facility of up to $10 million for refurbishment and launch activities, a revolving working capital facility of up to $5 million during commissioning and early production, and an optional cobalt and nickel prepayment of up to $10 million with associated offtake arrangements.

The arrangement remains subject to completion of acquisition, negotiation of definitive agreements, completion of due diligence and satisfaction of other conditions. The agreement and any related securities issuance require TSX Venture Exchange acceptance.

"This arrangement is intended to provide both a pathway to market for copper cathode production and a financing structure aligned with the launch of the NVRO Metals Hub," said Grant Freeman, CEO.

NVRO Metals operates as a clean technology company focused on recovering precious and critical metals from sulfidic ores, concentrates, mine waste and tailings using its proprietary NVRO Process. The company's planned metals hub is located near the Port of Darwin with access to established logistics infrastructure.

Transamine SA, founded in 1953 and headquartered in Geneva, operates as an independent commodity trading house specializing in non-ferrous raw materials across base metals, battery metals, precious metals and concentrate markets.