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Laguna Verde Operational Update
CleanTech Lithium PLC (AIM: CTL, Frankfurt:T2N, OTCQX:CTLHF), an exploration and development company advancing sustainable lithium projects in Chile, provides an operational update on progress with the Laguna Verde pre-feasibility study ("PFS"), the 2024 exploration programme and Direct Lithium Extraction ("DLE") pilot plant process work to produce battery-grade lithium carbonate.
Highlights:
Laguna Verde PFS Update
- Location of preferred sites for carbonation plant in CopiapĆ³ and port facilities for export of final lithium carbonate product have been selected
- Power supply study completed evaluating options for onsite renewables which provides a competitive alternative to the base case of a transmission line and grid connection
- Option to utilise electric truck transport identified, lowers emissions and noise pollution, and by hauling from high to low altitude regenerative charging reduces power consumption
- Decision to configure project based on locating DLE plant at Laguna Verde and carbonation plant in CopiapĆ³ has numerous advantages contributing to a more robust PFS
- Engineering for this configuration has extended the expected PFS delivery to Q1 2025
Exploration Programme and Pilot Plant Updates
- Results from two completed wells and pump tests for the 2024 field programme have been received increasing knowledge of the resource and providing additional information for the hydrogeological model
- Downstream processing work from our pilot plant is progressing well with lithium carbonate production expected in November
Investor webinar
- CTL to host investor webinar on Tuesday 5th November at 17:00 GMT. Register here: https://www.investormeetcompany.com/cleantech-lithium-plc/register
Steve Kesler, Executive Chairman and Interim Chief Executive Officer, CleanTech Lithium PLC, said:
"With the recent announcement by the Chilean Government to prioritise six salt flats, including Laguna Verde, to start the process of awarding Special Operating Lithium Contracts (CEOLs), we are focused on the key aspects to advance the project, being permitting, completion of the PFS and production of battery grade lithium carbonate from our pilot plant.
Progress has continued on central elements of the PFS with evaluation of plant location, power supply and transport options. As a leader in developing DLE based projects in Chile, we aim to enter production in 2027 when the lithium market is expected to rebalance, providing a strong long term growth outlook."
Further Information
Sites Selected for Carbonation Plant and Port for Export of Final Product
As part of the ongoing PFS for the Laguna Verde project, a trade-off analysis was completed which determined the DLE plant and eluate concentration stages should be located at the Laguna Verde site, and the carbonation plant at the nearby mining centre of CopiapĆ³. This was reported to the market on July 2, 2024. The re-configuration required a change in pre-engineering design provided by Lanshen Technology, the Company selected to provide the lithium processing plant design and equipment. This has extended the expected PFS completion, which was originally targeted for Q4 2024, into Q1 2025.
The Company has since undertaken studies to determine the ideal location of the carbonation plant in CopiapĆ³ and selected a site. After evaluating several options, a site in an industrial zone which by-passes to the south-east of CopiapĆ³ was chosen, as shown in Figure 1. This location has existing power and water supply options and provides a direct route to port.
Figure 1: Carbonation Plant Location Map
Figure 2: Carbonation Plant Design Layout
A trade-off analysis was undertaken to evaluate transport corridors and port facilities providing four different options for export of final lithium product. The study indicated that the nearby Caldera Port provides the most suitable option either utilising existing infrastructure which is currently utilised for seasonal shipment of agricultural products, shown in Figure 3. Other port options are also available and may come into consideration however Caldera Port is the current preference.
Figure 3: Caldera Port Existing Facilities
Power Supply Alternative of Onsite Renewable Generation
The Company engaged Chilean consultant Clean Power Hunters to undertake a power supply study to evaluate the option of using renewable power generated at the project site as an alternative to the base case of a transmission line and grid connection. Laguna Verde is located in the region with the highest solar irradiance in the world, as shown in Figure 4. Analysis of estimated Capex and Opex was provided based on different configurations of onsite renewables, either solar plus a battery energy storage system (BESS) or solar plus wind plus BESS. Figure 5 shows the lowest Capex corresponds to combining solar with three wind turbines plus BESS.
Figure 4: Solar Irradiance Map
Figure. 5: Solar + Wind + BESS Scenarios Capex Split
The Company has received proposals including from major global solar plus BESS suppliers, consistent with the costs estimated in the study and competitive with the grid connection option. The financing model for both the grid connection model or the alternative of onsite renewables is expected to be based on a power purchase agreement and a build own operate basis by established suppliers. These proposals will be built into the PFS and the commercial analysis of the project.
Truck Transport Study
Based on the outcome of the plant location study the Company will transport 6% Li in solution post the DLE and concentration stages at Laguna Verde to the carbonation plant. Use of standard and electric trucks is being compared with the latter providing several potential benefits in addition to cutting CO2 emissions. Electric trucks are well suited to hauling loads from high to low altitudes by taking advantage of regenerative charging to reduce power consumption and required battery capacity. Minimal noise and elimination of tailpipe emissions is particularly attractive considering the transport route traverses an indigenous community settlement approximately 100km from the project site, a community the company has been working with closely.
The Company has gathered insight from several potential suppliers. Chinese company XCMG is a leader in electric trucks and is actively expanding its offering in Chile, with its E7-49T model which has a haulage load of 49 tonnes potentially providing a suitable option. The technology is evolving rapidly and is expected to provide a strongly cost competitive option in line with the project development timeline.
Figure. 6: XCMGĀ“s range of electric transport trucks
Figure. 7: Paved Highway to Laguna Verde
2024 Exploration Programme Update
CleanTech LithiumĀ“s 2024 drilling programme anticipated to drill five new resource wells, as shown in Figure 8, with the aim of upgrading the existing Measured and Indicated resource into maiden Reserves for the Laguna Verde project. The existing JORC compliant resource estimate of 1.8 million tonnes of lithium carbonate equivalent (LCE) is based on six wells completed in 2022 and 2023. The Company engaged Montgomery & Associates Consultores Limitada ("Montgomery" or "M&A"), a leading hydrogeological consultant, for the programme. During 1H 2024, two of the five resource wells were completed being LV07 and LV11, along with three observation wells drilled to support observations during pumping tests, before winter conditions curtailed the programme in June 2024. The full 2024 programme is paused until further funding is available following the CompanyĀ“s planned ASX fund raising and as a result Montgomery has produced an interim report on work completed.
Figure 8: Laguna Verde Drilling Wells Map - Show original figure
Drilling activities for exploration borehole LV07 reached a final depth of 650m below land surface. This well was drilled with PQ3 diameter from land surface to 300m, and with HQ3 diameter from 300m to 650m. Packer samples were obtained during drilling for 2-meter packer intervals and the volume of the well was purged at least one time before obtaining the sample. Assuming a lithium cut-off grade of 100 mg/L, the average lithium grade of the packer samples corresponds to 139 mg/L with the well encountering lower density water in the upper 150m.
In contrast to LV07, drilling at LV11 did not reach the anticipated depth due to the presence of hydrothermal waters (under pressure) which were encountered during drilling, with a final depth of 412.8m below land surface. Assuming a lithium cut-off grade of 100 mg/L, the average lithium grade of the packer results would correspond to 131 mg/L. In general, it is believed that lithium grades decrease below 220m at LV11 due to the presence of dilute hydrothermal waters which were encountered during drilling. The presence of hydrothermal waters in the eastern portion of the Project are more dilute than the average lithium grade measured in other exploration wells.
Figure 9: Drilling at LV07 in 1H 2024
Lithology and Drainable Porosity
Based on core retrieved from drilling, the most predominant lithology encountered corresponds to a volcanic tuff with variable levels of consolidation and welding based on the depth and location. As determined by relative brine release testing at Geosystems Analysis (GSA) laboratory in Tuscon, USA, drainable porosity values of collected core samples from LV07 and LV11 range from 0.3% to 9.2%, with an arithmetic average of approximately 4%; this is considered by Montgomery to be reasonable for the encountered lithologic units based on visual inspection of the core.
Figure 10: Example of Drill Core from Exploration Borehole LV11 (132 to 136m)
Hydrogeological Evaluation
In addition to resource drilling, the 2024 campaign aimed to complete pump tests to evaluate the feasibility of lithium brine extraction for the Project and to also estimate aquifer parameters. Prior to the winter break, three observation wells were completed and initial variable rate step tests and a constant rate flow test undertaken. The intended long duration pump tests at well LV05 was not able to be completed, however a 7-day pumping test was successfully completed at LV06. With data obtained to date, Montgomery is able to continue refining the hydrogeological modelling that will feed into the design of the extraction and reinjection well fields for the PFS. A key aspect is to ensure no impact on surface water bodies.
Recommendations and Next Steps
Based on the obtained results from the 2024 exploration programme, recommended priorities for continued exploration include additional drilling and testing in the western portion of the Project concessions. A long-term pump test at LV05 (as part of the planned reinjection test) will also aid in demonstrating feasible extraction and reinjection to the west of the basin. A long-term test at LV05 will also allow for a better understanding of the hydraulic connection between the deep and shallow aquifers in that area.
On the completion of the 5 well programme as originally planned for 2024, the existing JORC compliant resource estimate of 1.8 million tonnes will be updated and a Reserve estimate will be calculated for the project. The Reserve calculation is the economically mineable part of the Measured and/or Indicated resource and this will be defined by the PFS data demonstrating that extraction could reasonably be justified. Progress continues on the PFS and the remaining planned wells will be completed as funds are available following completion of the planned ASX capital raising.
Pilot Plant Update
Downstream conversion of concentrated eluate from the CompanyĀ“s pilot plant into battery grade lithium commenced last week at the facilities of Conductive Energy in Chicago, USA. The initial volume of 88m3 of concentrated eluate from Laguna Verde, equal to approximately one tonne of lithium carbonate equivalent ("LCE"), will be processed in four batches with the first batch expected to produce a volume of battery-grade sample product in November. With this product, the Company plans to engage with strategic partners for product qualification.
For further information contact: | |
CleanTech Lithium PLC | |
Steve Kesler/Gordon Stein/Nick Baxter | Jersey office: +44 (0) 1534 668 321 Chile office: +562-32239222 |
Or via Celicourt | |
Celicourt Communications Felicity Winkles/Philip Dennis/Ali AlQahtani | +44 (0) 20 7770 6424 |
Beaumont Cornish Limited (Nominated Adviser) Roland Cornish/Asia Szusciak | +44 (0) 20 7628 3396 |
Fox-Davies Capital Limited (Joint Broker) Daniel Fox-Davies | +44 (0) 20 3884 8450 |
Canaccord Genuity (Joint Broker) James Asensio | +44 (0) 20 7523 4680 |
Competent Persons
The following professionals act as Competent Persons (CPs), as defined in the AIM Note for Mining, Oil and Gas Companies (June 2009) and JORC Code (2012):
Mike Rosko and Brandon Schneider of M&A are Registered Members of the Society of Mining, Metallurgy, and Exploration and have functioned as CPs for lithium brine projects under Canadian, Australian, and United States technical reporting standards. Their relevant experience includes:
Ā· Mike Rosko has been estimated lithium brine resources since 2010, and has functioned as a CP for Lithium One's Sal de Vida project, Millennial Lithium's Pastos Grandes project, Lithium Chile's Salar de Arizaro project, NOA Lithium's Rio Grande project, Lithium America's Cauchari project, Wealth Minerals' Salar de Ollague project, Gangfeng's Mariana project, Eramine's Centenario/Ratones project, Posco Lithium's Sal de Oro project, Pepennini's Salar de Pular project, and others, and has prepared numerous third party due diligence and independent geologist reports in Argentina, Chile, and the United States.
Ā· Brandon Schneider specializes in lithium brine reserve estimates, variable density flow modeling, and optimization of brine pumping in salt flats of Argentina and Chile. He has functioned as a CP for the Sal de Vida Project of Arcadium Lithium and Salar de Arizaro Project of Lithium Chile and was responsible for the reserve estimate and projected wellfield design. He also collaborates on the lithium brine exploration phases, resource estimation, and due diligence reviews for lithium brine projects.
Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated Adviser and is authorised and regulated by the FCA. Beaumont Cornish's responsibilities as the Company's Nominated Adviser, including a responsibility to advise and guide the Company on its responsibilities under the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed solely to the London Stock Exchange. Beaumont Cornish is not acting for and will not be responsible to any other persons for providing protections afforded to customers of Beaumont Cornish nor for advising them in relation to the proposed arrangements described in this announcement or any matter referred to in it.
Notes
CleanTech Lithium (AIM:CTL, Frankfurt:T2N, OTCQX:CTLHF) is an exploration and development company advancing lithium projects in Chile for the clean energy transition. Committed to net-zero, CleanTech Lithium's mission is to become a new supplier of battery grade lithium using Direct Lithium Extraction technology powered by renewable energy.
CleanTech Lithium has two key lithium projects in Chile, Laguna Verde and Viento Andino, and exploration stage projects in Llamara and Arenas Blancas (Salar de Atacama), located in the lithium triangle, a leading centre for battery grade lithium production. The two most advanced projects: Laguna Verde and Viento Andino are situated within basins controlled by the Company, which affords significant potential development and operational advantages. All four projects have good access to existing infrastructure.
CleanTech Lithium is committed to utilising Direct Lithium Extraction with reinjection of spent brine resulting in no aquifer depletion. Direct Lithium Extraction is a transformative technology which removes lithium from brine with higher recoveries, short development lead times and no extensive evaporation pond construction. www.ctlithium.com
Result of AGM, Share Consolidation and TVR
CleanTech Lithium PLC (AIM:CTL), an exploration and development company advancing next-generation sustainable lithium projects in Chile for the EV transition, is pleased to announce that at the Annual General Meeting ("AGM") held earlier today all resolutions were duly passed.
Share Consolidation
As a result of Resolution 9 having been passed at the AGM, shareholders have approved the share consolidation and every two existing ordinary shares of Ā£0.01 each ("Existing Ordinary Shares") will be consolidated into one new ordinary share of Ā£0.02 (the "New Ordinary Shares") (the "Share Consolidation"). As at the Record Date, being 6.00 p.m. on 26 November 2024, the 167,889,592 Existing Ordinary Shares will be consolidated into 83,944,796 New Ordinary Shares.
Application has been made to the London Stock Exchange for 83,944,796 New Ordinary Shares to be admitted to trading on AIM. It is expected that trading in the New Ordinary Shares will commence at 8:00 am tomorrow that is on Wednesday 27 November 2024 under new ISIN JE00BTJ01443 and SEDOL BTJ0144. CREST accounts will be updated on 27 November 2024.
Total Voting Rights
Following the Share Consolidation, the Company's total issued share capital will comprise 83,944,796 New Ordinary Shares of Ā£0.02 each with voting rights. The Company does not hold any shares in treasury. As such, the total number of voting rights in the Company following the Share Consolidation will be 83,944,796.
Capitalised terms used in this announcement and not separately defined shall have the meaning given to them in the circular which contains the AGM Noticehttps://ctlithium.com/investors/circulars-documents/
For further information please visit https://ctlithium.com/
For further information contact: | |
Steve Kesler/Gordon Stein/Nick Baxter | Jersey office: +44 (0) 1534 668 321 Chile office: +562-32239222 |
Or via Celicourt | |
Celicourt Communications Felicity Winkles/Philip Dennis/Ali AlQahtani | +44 (0) 20 7770 6424 |
Beaumont Cornish Limited (Nominated Adviser) Roland Cornish/Asia Szusciak | +44 (0) 20 7628 3396 |
Fox-Davies Capital Limited (Joint Broker) Daniel Fox-Davies | +44 (0) 20 3884 8450 |
Canaccord Genuity (Joint Broker) James Asensio | +44 (0) 20 7523 4680 |
Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated Adviser and is authorised and regulated by the FCA. Beaumont Cornish's responsibilities as the Company's Nominated Adviser, including a responsibility to advise and guide the Company on its responsibilities under the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed solely to the London Stock Exchange. Beaumont Cornish is not acting for and will not be responsible to any other persons for providing protections afforded to customers of Beaumont Cornish nor for advising them in relation to the proposed arrangements described in this announcement or any matter referred to in it.
Notes
CleanTech Lithium (AIM:CTL) is an exploration and development company advancing lithium projects in Chile for the clean energy transition. Committed to net-zero, CleanTech Lithium's mission is to become a new supplier of battery grade lithium using Direct Lithium Extraction technology powered by renewable energy.
CleanTech Lithium has two key lithium projects in Chile, Laguna Verde and Viento Andino, and exploration stage projects in Llamara and Arenas Blancas (Salar de Atacama), located in the lithium triangle, a leading centre for battery grade lithium production. The two most advanced projects: Laguna Verde and Viento Andino are situated within basins controlled by the Company, which affords significant potential development and operational advantages. All four projects have good access to existing infrastructure.
CleanTech Lithium is committed to utilising Direct Lithium Extraction with reinjection of spent brine resulting in no aquifer depletion. Direct Lithium Extraction is a transformative technology which removes lithium from brine with higher recoveries, short development lead times and no extensive evaporation pond construction.www.ctlithium.com
White Cliff Minerals Acquires Highly Prospective and Proven Copper Project
Project area includes the historic resource estimate of 4.16 Mt at 2.96% Cu - open along strike and at depth
White Cliff Minerals Limited (āWhite Cliffā or the āCompanyā) is delighted to announce the acquisition of Victoria Copper Ltd, 100% owner of exploration licence L-2797 (āthe licenseā). This granted exploration licence lies within the broader Rae Copper region, Nunavut, Canada (āRaeā or the āProjectā) and covers the historical Danvers copper deposit (āDanversā). Confirmation drilling and other verification work of the historical resource will be one of several deliverables scheduled for the upcoming 2025 programme at Rae.
The historic resource estimate for the Licence, is a historic estimate and not in accordance with the JORC Code. The Company notes that the estimate and historic drilling results dated 1967 and 1968 are not reported in accordance with the NI 43-101 or JORC Code 2012. A competent person has not done sufficient work to disclose the estimate/results in accordance with the JORC Code 2012. It is possible that following further evaluation and/or exploration work that the confidence in the estimate and reported exploration results may be reduced when reported under the JORC Code 2012. Nothing has come to the attention of the Company that causes it to question the accuracy or reliability of the historical exploration results, but the Company has not independently validated the historical exploration results and therefore is not to be regarded as reporting, adopting or endorsing the historical exploration results.
- Acquisition brings 100% unencumbered ownership of the license, proximal to the Companysā existing claims at Rae
- The Licence contains a non JORC compliant, historic resource estimate of 4.16 million tons at a grade of 2.96% Cu at a 2% cut-off Cu (āthe historic resource estimateā).
- Records of resource drilling undertaken during 1967 & 68 had a maximum vertical depth of ~150m
- Highlights from the 1960ās resource drilling included:
- 39.40m @ 4.9% Cu from 60.3m (S-57)
- 47.10m @ 3.2% Cu from 42.2m (S-24)
- 35.40m @ 3.2% Cu from 21.0m (S-21)
- 27.5m @ 4.0% Cu from 76.7m (S-63)
- 38.1m @ 2.8% Cu from 63.4m (S-73)
- 31.4m @ 3.3% Cu from 15.2m (S-20)
- 44.8m @ 2.2% Cu from 55.8m (S-18)
- Follow up drilling in 2003 & 2005 focused mainly on expanding the known mineralised envelope which starts at surface and has dimensions of approximately 550m(L) x 200m(W) x 150m(D). Results confirmed mineralisation remains open in all directions presenting potential for further exploration success, highlights include;
- 72.70m @ 1.6% Cu from 27m (2003-47-2)
- 56.39m @ 1.5% Cu from 47m (2003-47-1)
- 98.05m @ 0.9% Cu from 66m (2003-47-3)
- 52.88m @ 1.2% Cu from 177m (2005-47-7)
- Acquisition of this, until now, stranded licence bolsters the already impressive and prospective Rae Project Portfolio. Sitting within the Companyās surrounding landholding, this addition represents accelerated near term optionality to start growing a resource for the greater Rae Project
- Conveniently located 3 km south of the Hope Lake Airstrip where the Company intends to base its 2025 field operations
- The historic, non JORC compliant estimate, the potential to expand this resource estimate and the concentrations of copper-silver reported from past drilling activities is a key factor in the acquisition of the Licence. The previously reported work and studies undertaken on the Licence will be verified by the Company as quickly as reasonably possible, with proposed work focused on drilling being planned for 2025.
āThis is a value acquisition for shareholders. This moderate tonne but lower grade historic resource of 4.16mt @ 2.96% Cu is but one of several styles of mineralisation the Company expects to find throughout the broader licence area.
Others targets include the very large tonne targets of Hulk, the high grade-high tonne potential of Stark, the very high grade native copper flow top replacement targets and finally the extremely high grade Thor, Rocket and Vision areas.
This acquisition provides not only the potential for fast tracked expansion of an already identified large occurrence of copper but further secures the companys dominant landholding in the region.
We are now preparing for the 2025 drilling, with all targets now identified and prioritised starting with the giant Hulk sedimentary target, the extremely high grade vein systems and resource verification work at Danvers as well as at Great Bear - the Company is well positioned to deliver on its CY25 planned objectives.
Iām pleased to say we are making good progress on the final phases of our permitting and will update shareholders on the finalisation of this aspect as well as the award of drilling and service support contracts and the start of mobilisation in due course.ā
Troy Whittaker - Managing Director
Click here for the full ASX Release
This article includes content from White Cliff Minerals 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.
White Cliff Minerals Limited (ASX: WCN) ā Trading Halt
Description
The securities of White Cliff Minerals Limited (āWCNā) will be placed in trading halt at the request of WCN, pending it releasing an announcement. Unless ASX decides otherwise, the securities will remain in trading halt until the earlier of the commencement of normal trading on Tuesday, 26 November 2024 or when the announcement is released to the market.
Issued by
ASX Compliance
Click here for the full ASX Release
This article includes content from White Cliff Minerals 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.
Sayona Mining and Piedmont Lithium to Merge, Form US$623 Million Lithium Miner
Australian lithium company Sayona Mining (ASX:SYA,OTCQB:SYAXF) and US-based Piedmont Lithium (ASX:PLL,NASDAQ:PLL) have announced a merger agreement that would create a consolidated entity valued at approximately US$623 million.
This move aims to strengthen their positions in the global lithium supply chain and enhance operations in North America and beyond.
The agreement involves an all-stock transaction, with Sayona acquiring Piedmont to become the parent company. Under the terms, existing Piedmont shareholders will receive Sayona American Depository Shares (ADS) or Sayona shares listed on the Australian Securities Exchange (ASX) in proportion to their holdings.
Ownership of the merged company will be split approximately evenly post-merger. Shareholders of both companies are expected to hold equal stakes in the newly formed entity.
The combined portfolio of the merged entity will include lithium assets across North America, Australia and Ghana.
The two companies are already partners in North American Lithium (NAL), a spodumene mining operation in QuƩbec, Canada. Currently, Sayona holds a 75 percent stake in NAL, with Piedmont owning the remaining 25 percent.
The merger will consolidate NALās ownership under the newly formed entity, allowing for greater operational efficiency and flexibility in securing funding or government support if required.
NAL began operations in early 2023 and has produced approximately 140,000 metric tons of spodumene concentrate since its restart. The facility is targeting an annual production rate of 226,000 metric tons. Half of its output is sold to Piedmont under an existing offtake agreement.
Despite its production capacity, NAL faced financial losses in the third quarter of 2024, reflecting the current state of the lithium market.
Sayonaās portfolio features three lithium projects in QuĆ©bec and a series of mining leases in Western Australia.
Meanwhile, Piedmont contributes its lithium projects in North Carolina and Ghana, developed in partnership with Atlantic Lithium (ASX:A11,LSE:ALL,OTCQX:ALLIF).
The merger seeks to capitalize on these complementary assets to create a more integrated and scalable operation.
Keith Phillips, President and CEO of Piedmont, said that the merger will enable the company to focus on future development while adapting to less than favorable industry conditions.
āThe merger financing, corner-stoned by leading mining private equity group RCF, will enable us to weather the current industry downturn while making intelligent investments in our growth projects to be positioned for the recovery in lithium markets that we expect in the medium-term,ā Phillips said in the official announcement.
The merger decision continues an ongoing trend in the lithium sector toward consolidation.
Recent months have seen increased M&A activity, notably Rio Tintoās (ASX:RIO,NYSE:RIO,LSE:RIO) US$6.7 billion acquisition of Arcadium Lithium (NYSE:ALTM,ASX:LTM), as companies seek to strengthen their market positions amid fluctuating demand and pricing dynamics.
Don't forget to follow us @INN_Resource for real-time news updates!
Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Atlantic Lithium is a client of the Investing News Network. This article is not paid-for content.
Major Milestone Achieved: Pilot-Scale Lithium Carbonate Production
CleanTech Lithium PLC (AIM: CTL), an exploration and development company advancing sustainable lithium projects in Chile, is pleased to announce the downstream conversion process is successfully producing pilot scale samples of lithium carbonate. CTL is a leader in Chile in producing lithium carbonate using Direct Lithium Extraction ("DLE") at the pilot scale, marking a major milestone for the Company. The samples will be sent to a laboratory to confirm the grade and impurity profile, which is expected to be battery-grade and prepared for strategic partner qualification.
Image 1: CTL Director Gordon Stein and CEO of Conductive Energy Haafiz Hasham
with first Lithium Carbonate produced from Conversion Process
The Company shipped four tanks with a total of 88m3 of concentrated eluate from its DLE pilot plant in CopiapĆ³, Chile, to the facilities of Conductive Energy in Chicago, USA, for conversion into lithium carbonate. The first tank with 20m3 of eluate is currently being processed and produced the first 50kg of lithium carbonate on November 19th. The full tank will be processed over the next week and is expected to produce approximately 150kg of battery grade lithium carbonate.
To mark the commencement of production a site visit to the conversion facility was held showcasing the innovative process. The conversion process utilises forward osmosis at the concentration stage rather than the conventional evaporator helping to reduce water consumption and energy use before solution purification and then carbonation into the final product.
Conversations with potential strategic partners interested in testing the product have begun. After laboratory analysis, the Company will be aiming to send samples of battery-grade lithium carbonate to such partners initially in the several kilograms to tens of kilograms, to start the product qualification process.
Highlights:
Ā· CTL has produced pilot scale lithium carbonate from Laguna Verde brine following successful commencement of the downstream conversion process
Ā· CTL is a leader in Chile producing lithium carbonate at the pilot scale using sustainable DLE which, with spent brine reinjection, prevents aquifer depletion and through innovative downstream processing, minimises water and energy consumption
Ā· Lithium carbonate product will be sent to a laboratory in North America to be verified as battery-grade (>99.5%)
Ā· A site visit to Conductive Energy's conversion facility took place on Tuesday 19th November to mark the commencement of production from what is the largest pilot plant in operation in North-East USA.
Ā· Conversations with strategic partners have started and samples will be available for product qualification
Steve Kesler, Executive Chairman and Interim Chief Executive Officer, CleanTech Lithium PLC, said:
"CleanTech Lithium has reached an important milestone by commencing pilot scale lithium carbonate production using a sustainable and innovative DLE based process. As a leader in the DLE sector in Chile with a focus on efficiency and sustainability, this accomplishment marks a significant step forward. Years of hard work have led to this important milestone, and it sets the stage for future development with a commitment to supporting the transition to electric vehicles and clean energy. Thank you to the partners involved and we look forward to enter the next phase of development."
Haafiz Hasham, Chief Executive Officer, Conductive Energy, said:
"The successful conversion to lithium carbonate in partnership with CleanTech Lithium and Forward Water Technologies represents a significant milestone for all the companies involved. This achievement highlights our commitment to developing innovative, efficient, and sustainable processes that meet the growing global demand for lithium, a critical component in green energy solutions. We are excited to continue advancing Direct Lithium Extraction, which we believe represents the future of battery-grade lithium production."
Image 2: Site visit at Conductive Energy's facilities was held on 19th November
to see the conversion process to lithium carbonate
Image 3: Filter press used in the conversion process to separate precipitated
Li2CO3 from solution. White powder is lithium carbonate
Image 4: Two tanks of concentrated eluate arrive on site in Chicago, USA
Image 5: Industrial Forward Osmosis unit
**ENDS**
The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. Upon publication of this announcement, this inside information is now considered to be in the public domain. The person who arranged for the release of this announcement on behalf of the Company was Gordon Stein, Director and CFO.
For further information contact: | |
CleanTech Lithium PLC | |
Steve Kesler/Gordon Stein/Nick Baxter | Jersey office: +44 (0) 1534 668 321 Chile office: +562-32239222 |
Or via Celicourt | |
Celicourt Communications Felicity Winkles/Philip Dennis/Ali AlQahtani | +44 (0) 20 7770 6424 |
Beaumont Cornish Limited (Nominated Adviser) Roland Cornish/Asia Szusciak | +44 (0) 20 7628 3396 |
Fox-Davies Capital Limited (Joint Broker) Daniel Fox-Davies | +44 (0) 20 3884 8450 |
Canaccord Genuity (Joint Broker) James Asensio | +44 (0) 20 7523 4680 |
Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated Adviser and is authorised and regulated by the FCA. Beaumont Cornish's responsibilities as the Company's Nominated Adviser, including a responsibility to advise and guide the Company on its responsibilities under the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed solely to the London Stock Exchange. Beaumont Cornish is not acting for and will not be responsible to any other persons for providing protections afforded to customers of Beaumont Cornish nor for advising them in relation to the proposed arrangements described in this announcement or any matter referred to in it.
Notes
CleanTech Lithium (AIM:CTL, Frankfurt:T2N, OTCQX:CTLHF) is an exploration and development company advancing lithium projects in Chile for the clean energy transition. Committed to net-zero, CleanTech Lithium's mission is to become a new supplier of battery grade lithium using Direct Lithium Extraction technology powered by renewable energy.
CleanTech Lithium has two key lithium projects in Chile, Laguna Verde and Viento Andino, and exploration stage projects in Llamara and Arenas Blancas (Salar de Atacama), located in the lithium triangle, a leading centre for battery grade lithium production. The two most advanced projects: Laguna Verde and Viento Andino are situated within basins controlled by the Company, which affords significant potential development and operational advantages. All four projects have good access to existing infrastructure.
CleanTech Lithium is committed to utilising Direct Lithium Extraction with reinjection of spent brine resulting in no aquifer depletion. Direct Lithium Extraction is a transformative technology which removes lithium from brine with higher recoveries, short development lead times and no extensive evaporation pond construction. www.ctlithium.com
Geophysical Anomalies Reveal New Copper Targets at Rae Project
Conductivity anomalies show link between surface showings and vein-system targets
White Cliff Minerals Limited (āthe Companyā) is pleased to announce further results of the first project scale geophysical survey at the Rae Copper Project (āRaeā or āthe Projectā), Nunavut, Canada.
- The Stark target, a newly identified anomaly sits along a known copper conduit, the Herb Dixon Fault. The Herb Dixon Fault forms the western boundary of the HULK sedimentary targets and extends south, to the Companyās Vision District where rock chip assays included 64.02% (F005965), 62.02% (F005966), 55.01% (F005977) and 50.48% (F005959) copper
- The Stark target presents as a highly conductive signature over more than 14km strike length and up to 2.2km wide that is coincident within a well-defined structure
- A further western target at Hulk, West - Target D (Cliff) presents another target for large scale vein hosted systems with a strong conductivity anomaly, constrained within a major structure over 5.7 km strike length and up to 1 km wide which crosses the basalt-sediment contact
- This new target at Hulk further increases the interpreted dimensions of the Hulk target to 23km by 10.5km
- Within the Thor District at the Halo target, high grade samples over > 800m strike length including results up to 54.02% Cu (F005921) a conductivity response spanning 2.7km strike length has expanded the initial high grade target, inferring a significant extension to the mineralisation observed on surface
- Field truthing at Halo identified significant quantities of copper mineralisation embedded within basalts and sediments at surface. This field observation, now corroborated by the Mobile MT electromagnetic survey results, offers scope for further discoveries at other conductivity anomalies within the Thor District
- The ongoing review of the MobileMT geophysical data, in parallel with the integration of magnetic and conductivity datasets with assay results from the maiden campaign will generate an evolving pipeline of new targets. Follow up ground truthing is being planned to operate in parallel with the maiden drilling campaign at Rae where mobilizing works are planned for Q1 of 2025
āThese airborne geophysical results have revealed kilometre scale conductive signals which seem to be constrained to the interpreted dimensions and structures of the regional fault networks. It is this constraint that provides us with additional confidence in the geophysical responses, as these conductive anomalies, in those shapes are what we were hoping to see.
These large scale vein system targets are unique in that they provide super high grade copper targets and a major conduit of hydrothermal copper fluids; seeing the entire Herb Dixon fault in this regard and its connection into the sedimentary structures at Hulk is very exciting.
Being able to link high grade surface showings with extensions into the sub surface, like the Halo target, is significant given the consistent high grades returned during the summer sampling program. We have now identified, nearby, conductive sub surface signatures, offering up scope for further discoveries in the Thor District.
This ongoing generation of targets will feed into the 2025 ground sampling program (ground truthing geophysical anomalies) that will run in tandem with our maiden drilling campaign at the Project.ā
Troy Whittaker - Managing Director
Click here for the full ASX Release
This article includes content from White Cliff Minerals 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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