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Company Operational Update

Green Technology Metals Limited (ASX: GT1) (GT1 or the Company), a Canadian-focused multi-asset lithium business, is pleased to provide an operations update for its projects located in Ontario, Canada.

HIGHLIGHTS

  • GT1 remains committed to advancing our lithium projects and development strategy, continuing to engage with our Indigenous partners and progressing permitting strategically ahead of an anticipated rebound in the lithium market
  • As part of our government engagement strategy, GT1 has submitted further applications totalling Cs5.5 million under the Critical Minerals Infrastructure Fund (CMIF) to support consultation and early engineering works at both the Seymour and Root projects
  • In light of current market conditions, the release of the Seymour Definitive Feasibility Study (DFS) has been deferred; however, key low cost workstreams will continue to ensure the Company is well-positioned when market conditions improve
  • GT1 remains focused on cost discipline across the business, has further reduced staff levels and retained only essential personnel necessary to advance permitting and core technical and corporate development activities
  • An exploration review is currently underway across all 9 of GT1’s projects, with early indications highlighting strong potential for high-value by-products listed as Critical Minerals globally
  • The Company acknowledges the Canadian Government’s strong push for a complete domestic critical minerals supply chain including enhanced support for permitting and infrastructure funding which is expected to benefit GT1’s projects. The Company remains committed to ongoing engagement with our Indigenous partners on all activities

“It’s been a challenging 12 months for the lithium sector, but our long-term strategy remains unchanged. While market conditions have required us to slow down, we continue to have strong conviction in the quality of our assets, their location, and our vertically integrated approach in Canada, underpinned by tier-one strategic partnerships with EcoPro Innovation and other lithium focussed businesses.

The LOI from Export Development Canada, unwavering Canadian government support, delivery of key project milestones, and a robust +30Mt resource are all achievements in the past 12 months that have added significant value to the Company. These foundations place us in a strong position to respond when the market recovers and we’ll be ready.

Although slowing the DFS was a difficult but necessary decision, we remain focused on advancing the critical development work required to ensure the Seymour Project moves towards completion of permitting in consultation with our Indigenous partners and will be ready for investment decisions. This period of disciplined capital preservation also provides an opportunity to explore new avenues to create value for shareholders, including a full review of our tenement portfolio and technical database, which may unlock further strategic opportunities aligned with current market demands and our long-term vision.”

- GT1 Managing Director, Cameron Henry


Click here for the full ASX Release

This article includes content from Green Technology Metals Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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