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![Lithium Power International Limited (ASX: LPI) – Trading Halt](https://investingnews.com/media-library/lithium-power-international.png?id=28191619&width=1200&height=801)
Lithium Power International Limited (ASX: LPI) – Trading Halt
Description
The securities of Lithium Power International Limited (‘LPI’) will be placed in trading halt at the request of LPI, 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 Friday, 24 June 2022 or when the announcement is released to the market.
Issued by
Angel He
Adviser, Listings Compliance (Sydney
Click here for the full ASX Release
This article includes content from Lithium Power International, 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.
Appendix 5B Cash Flow Report June 2023
Lithium Power International Limited (ASX:LPI) (“LPI” or “the Company”) has released its Quarterly Cash Flow Report.
This article includes content from Lithium Power International, 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.
SQM to join Talga in Swedish Lithium Project
Battery materials and technology company Talga Group Ltd (“Talga” or “the Company”) (ASX:TLG) is pleased to announce that it has entered into an Earn-in Agreement (“Agreement”) with world- leading lithium miner and producer Sociedad Química y Minera de Chile S.A. (via its subsidiary SQM Australia Pty Ltd) (“SQM”) (NYSE:SQM; SSE:SQM-B, SQM-A), over Talga’s Aero Lithium Project (“Aero”) in Sweden.
- Earn-in Agreement signed with SQM, world-leading lithium miner and producer, over Talga’s 100% owned Aero Lithium Project located ~30km east of Gällivare in northern Sweden
- SQM can earn up to 70% interest in Aero JV in stages for total US$19.0m expenditure
- Talga to manage project during earn-in period and retain 100% graphite rights
Under the binding Agreement, Talga has granted SQM the right to sole fund exploration expenditure of up to US$19.0m over the next 7 years on Aero for up to a 70% ownership interest in the project. Talga also will be paid a management fee for each stage of the potential earn-in arrangement, and a success fee if a decision to mine on Aero is made. Talga retains all rights and obligations in relation to graphite minerals within Aero.
SQM has completed extensive due diligence on Aero including site visits, and under the Agreement the parties may agree to collaborate on potential new lithium areas and projects in Sweden. The Agreement is subject to Swedish foreign direct investment clearance. Key terms of the Agreement are set out in Schedule 1 to this announcement.
Project background
Aero forms part of Talga’s suite of battery metal assets separate to its advanced stage Li-ion battery graphite anode business (“Vittangi Anode Project”). Aero covers 270km2 area south and east from Gällivare where Talga has found lithium-prospective pegmatites over ~50km total strike with surface sample results up to 1.9% Li2O (ASX:TLG 29 August 2023). Lithium is classified as a strategic raw material and subject to domestic extraction targets under the EU Critical Raw Materials Act.
Talga Managing Director, Mark Thompson, commented: “We are delighted to partner with SQM on our Aero lithium project in Sweden, which provides an important chance to build a European lithium supply for the green transition and EU localisation objectives.
As one of the few potentially large-scale lithium hard rock opportunities in Europe, Aero might be significant to the region’s battery and electric vehicle industry.”
SQM International Lithium division CEO, Mark Fones, commented: "We are pleased to enter into this agreement, which represents our dedicated efforts to build a global and competitive lithium asset portfolio. Expanding into new and promising jurisdictions, such as Sweden, has been a strategic goal for us, and partnering with Talga, who has demonstrated expertise in the region, further enhances this achievement.”
Click here for the full ASX Release
This article includes content from Talga Group, 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.
Cleantech Lithium’s ASX Listing Taps into Sustainability-focused Investors
The decision to list on the ASX is a significant strategy for Cleantech Lithium (AIM:CTL), according to Steve Kessler, the company’s executive chairman and interim CEO. Already listed on the AIM market in the UK, the company recognises the advantages of dual listing in Australia, a country well-versed in mining and resource investments.
“There's deeper pools of finance available in Australia for mining and resource stocks,” Kessler explained. "And there's a greater knowledge of mining amongst the retail public, particularly in lithium."
Australia’s familiarity with lithium means there is natural synergy and substantial market knowledge among investors. Kessler noted that the company's leading shareholder, Regal Funds from Sydney, underscores the value of this dual listing as a vehicle to tap into broader financial resources and an informed investor base.
“There's a belief that when people in Australia see the quality of our projects in Chile and how far we have advanced, they'll recognise that we offer great value compared to the other projects which are already listed on the ASX,” he said.
Listing on the ASX will enhance Cleantech Lithium’s visibility and credibility, particularly among institutions that are eager to support environmentally sustainable projects, but are restricted to ASX-listed entities. This move is not merely a financial strategy, but also a recognition of the power of institutional support in advancing sustainable practices in resource extraction, Kessler added.
Cleantech Lithium aims to be a leading supplier of “green lithium” to the electric vehicle market.
Watch the full interview with Steve Kessler, executive chairman and interim CEO of Cleantech Lithium, above.
Disclaimer: This interview is sponsored by Cleantech Lithium (AIM:CTL). This interview provides information which was sourced by the Investing News Network (INN) and approved by Cleantech Lithium in order to help investors learn more about the company. Cleantech Lithium is a client of INN. The company’s campaign fees pay for INN to create and update this interview.
INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.
The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with Cleantech Lithium and seek advice from a qualified investment advisor.
This interview may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, receipt of property titles, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. The issuer relies upon litigation protection for forward-looking statements. Investing in companies comes with uncertainties as market values can fluctuate.
Lithium Supply Chain Conference to Bring Industry Leaders to Las Vegas
Fastmarkets' first Lithium Supply and Battery Raw Materials Conference was held in 2009 in Santiago, Chile, emerging amid the financial crisis and providing vital insights into the booming lithium market.
Now in its 16th year, the event has consistently attracted influential figures from the battery raw materials industry, offering excellent networking opportunities while maintaining a global perspective.
Held in cities such as Toronto, Buenos Aires, Shanghai, Montreal and Las Vegas, the conference has evolved to enhance the delegate experience, featuring visits to mines and lithium facilities, along with roundtable discussions, masterclasses, Q&As and other formats, allowing attendees to gain insights in various ways.
The Investing News Network (INN) spoke with the Fastmarkets team about the upcoming conference, which will run from June 24 to 27 in Las Vegas, and what participants can expect this year.
INN: How many participants attended last year, and how many are expected this year?
Fastmarkets Team (FMT): Over 1,100 attended in 2023, and this year we’re expecting closer to 1,300 across all areas of the lithium and battery raw materials supply chain — from downstream exploration and mining companies through to mid and upstream battery production, automotive firms, gigafactories and utility and power grid operators.
We also have growing interest from the finance and investment community, with attendance from BMO Capital Markets, Goldman Sachs (NYSE:GS), Morgan Stanley (NYSE:MS), Nomura (NYSE:NMR,TSE:8604), Rothschild Canada and Scotiabank, amongst others — showing an increase in this particular segment from last year.
INN: What can attendees expect this year?
FMT: Conference goers can expect a thoroughly vetted experience featuring:
- Multiple content streams, including BRM Market Fundamentals and Energy Storage Summit workshops, the BRM Innovation stage and debates and keynotes on the main stage. There will also be high-profile networking events, with a CEO breakfast, speakers’ dinner, investor breakfast, the Voltas Awards and the Inclusivity Forum.
- Some of the speaker highlights include: Ashley Zumwalt-Forbes (deputy director for critical minerals at the Department of Energy) Steven Feldgus (Department of the Interior), Eric Norris (Albemarle (NYSE:ALB)), Dale Henderson (Pilbara Minerals (ASX:PLS,OTC Pink:PILBF), Simon Thibault (General Motors (NYSE:GM)), Patrick Howarth (ExxonMobil (NYSE:XOM)), Didi Kazadi (Ford (NYSE:F)) and JB Straubel (Tesla (NASDAQ:TSLA) and co-founder and CEO of Redwood Materials).
- More than 1,000 delegates from across the electric vehicle (EV) battery supply chain, including mining, exploration, cathode/anode/battery makers, OEMs, policymakers, investors and recycling companies.
INN: What are the key themes this year’s conference will cover?
FMT: Some of the themes at this year’s event include:
- Supply and demand dynamics
- Pricing outlooks
- EV and energy storage system battery demand forecast
- The Inflation Reduction Act and the 2024 US election: Regional and global implications
- EV battery supply chain vertical integration
- Sustainability and recycling — and the latest innovations in direct lithium extraction and battery recycling
- Indigenous communities, and mining and sourcing transparency
- Cathodes, anodes and battery innovation — and the long-term outlook for alternative chemistries, such as anode-free batteries, sodium-ion, solid state and hydrogen
- Extraction, processing and refining technologies
- Funding and investment, including 1-2-1 meetings, an investor connect breakfast, BRM Shark Tank (funding pitch battle), investor view panel and a fire camp session focusing on routes to funding
INN: The agenda also lists several investor-focused presentations and speakers. Why was it important to also cover these topics?
FMT: The aim was to create a discussion platform for both investors and mining/cathode/anode/recycling businesses — and to unravel the complexities of EV battery supply chains, including investment risks and opportunities.
Our audience is interested in hearing how the investor community perceives the sector in the context of short- and long-term demand outlooks, geopolitical shifts, US 2024 elections, overcapacity in China and the ambition to create domestic, vertically integrated supply chains. Investors find our content useful as it cuts through the noise and provides a data-driven, transparent outlook on the market to help drive their investment decisions.
Finally, we wanted to create opportunities for companies looking for funding and offtake partners, as our conference is one of the primary events for making long-term partnerships, joint ventures and deals.
INN: What does Fastmarkets hope attendees will take away from the conference?
FMT: Attendees will leave Las Vegas with the most up-to-date understanding of the battery raw materials industry possible, having heard leading figures’ perspectives and expert analysis.
This will include invaluable insights into the technology and practices that will shape the sector for years to come, as well as the opportunities and threats on the horizon. This kind of industry intelligence will inform their business plans, influence their decisions, and give them a competitive edge over rivals.
Delegates will also gain a new appreciation of issues for various stakeholders across the supply chain — and across the world. Plus, there’s no better place for them to form new connections and strengthen existing ones.
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
Significant Lithium Discovery in Inaugural Drill Campaign at Red Mountain Project, USA
Assays from first three holes intersect high-grade lithium mineralisation
Astute Metals NL (ASX: ASE) (“ASE”, “Astute” or “the Company”) is pleased to advise that assays results from the first three holes of the maiden RC drilling campaign at its 100%-owned Red Mountain Lithium Project in Nevada, USA have returned high-grade mineralisation, indicating the potential discovery of a significant lithium deposit.
The assay results included the following high-grade drill intersections:
- RMRC001 : 59.4m @ 1,300ppm Li / 0.69% Lithium Carbonate Equivalent1 (LCE) from 73.2m
- RMRC002 : 15.2m @ 810ppm Li / 0.43% LCE from 15.2m
- RMRC003 : 6.1m @ 1,050ppm Li / 0.56% LCE from surface, and
- 12.2m @ 1,060ppm Li / 0.56% LCE from 18.3m
A total of 11 holes were drilled for a combined 1,518m as part of the maiden RC drilling campaign, which targeted lithium clay mineralisation in zones of strong soil anomalism and/or rock chip anomalism with a view to understanding the thickness and grade potential of the project (Table 1 and Figure 1).
These initial results have confirmed the anticipated discovery of sub-surface lithium mineralisation at Red Mountain, which has clear potential to emerge as a significant project in the context of North American exploration efforts for battery metals.
Once assays for the remaining drill holes have been received by the Company, results will be collated and interpreted in order to guide the next steps for exploration at the project, which is now expected to include a follow-up drilling campaign in the second half of the calendar year. The remaining assays are expected to be received in two batches in early and late July.
Astute Chairman, Tony Leibowitz, said:
“This is a very exciting start to our drilling campaign at Red Mountain, with all three of our initial drill holes intersecting high-grade lithium mineralisation. The results have been returned over 4.6km of strike, indicating the potential for a major new discovery.
We are now eagerly awaiting the results from the remaining eight holes, which are expected to be received in July, with assays from all holes to be integrated into an updated geological model for Red Mountain with a view of expediting the process to achieving a maiden resource for our Red Mountain Project.”
Figure 1. Drill-hole locations and intersections, and gridded soil sample geochemistry over aerial image.
About Lithium Carbonate Equivalent (LCE)
Unlike spodumene concentrate, which is a feedstock for a value-added battery product, Lithium Carbonate is a principal lithium-ion battery product, which may be used directly in battery production or converted to other battery products such as lithium hydroxide. The Benchmark Mineral Intelligence Lithium Carbonate China Index priced lithium carbonate product at US$13,710/t6 as of 12 June 2024.
Lithium carbonate is the product of many of the most advanced lithium clay projects around the world, including Lithium Americas’ (NYSE: LAC) 16.1Mt LCE Thacker Pass Project3 which is currently under construction. Accordingly, exploration results for Red Mountain have been reported as both the standard parts-per-million (ppm) and as % Lithium Carbonate Equivalent (LCE). A full table of tabulated assay results is provided in Appendix 2.
Click here for the full ASX Release
This article includes content from Astute Metals NL, 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.
Deal Completion on Acquisition of Bengal Mining and Brazilian Lithium Projects
Lightning Minerals(L1M or the Company) is pleased to announce completion of the acquisition of Bengal Mining (Bengal). Bengal holds, via its wholly owned subsidiary Tigre Mineracao Ltda (Tigre) option agreements over two lithium projects, Caraíbas and Sidrônio (the Projects). The Projects are located in Brazil’s prolific Lithium Valley district in the state of Minas Gerais in proximity to Latin Resources’ (ASX: LRS) Colina project1 hosting 70.9Mt @ 1.25% Li20 and Sigma Lithium’s (NASDAQ: SGML) Grota do Cirilo project2 hosting 108.9Mt @ 1.41% Li20.
HIGHLIGHTS
- All Conditions Precedent have been met including receipt of shareholder approval at the Company’s EGM on 13 June 2024 including completion of tranche 2 capital raising
- Completion of acquisition of Bengal Mining and options over highly prospective lithium projects Caraíbas and Sidrônio, located in the prolific Lithium Valley region of Minas Gerais, Brazil
- Recent site visit confirms the highly prospective nature of the projects in Brazil’s prolific Lithium Valley in the state of Minas Gerais
Lightning Minerals Managing Director Alex Biggs said, “Completion of the Bengal acquisition is a significant step forward for the Company and we can now begin to focus our efforts on target generation across our Brazilian assets. Having spent time in Brazil over the past couple of weeks we really like what we see and the potential these projects present to the Company. To be positioned where we are in the region is a significant achievement for us. Couple that with our relationships in Brazil, the prospectivity of the projects we are setting ourselves up for success. We welcome new shareholders on board as part of the transaction and capital raising and look forward to the future as we begin our exploration in one of the world’s premier lithium regions”.
Caraíbas and Sidrônio Projects
The Projects are located in the Eastern Brazilian Pegmatite Province that encompasses approximately 150,000 km2, stretching from Bahia state to Rio de Janeiro state. The Caraíbas Project consists of five (5) separate tenements covering 1,733 Ha and the project area contains a series of albite and muscovite rich pegmatites identified by Bengal’s initial reconnaissance works. Aeromagnetic data shows the tenements are located along regional structures and shear zones which are analogous to the trends present at Latin Resources’ (ASX: LRS) Colina deposit. The Caraíbas Project is located approximately 20km to the south in the same Salinas geological formation.
The Sidrônio Project consists of two (2) tenements covering 1,638 Ha, strategically located adjacent and along strike to the south from the Caraíbas Project. Aeromagnetic data shows the tenements are located along similar interpreted structural trends that may potentially be conduits for mineralisation. Both Projects cover prospective Salinas Formation geology which is thought to provide adequate rheological conditions suitable for the emplacement of late hydrothermal fluids. In similar geological settings, proximal to S-type granites, the Salinas Formation is known to host fertile lithium mineral bearing pegmatites.
Figure 2: Caraíbas and Sidrônio project location, geology and tenements
Figure 3: Caraíbas and Sidrônio projects location and tenements plotted against publicly available analytic signal aeromagnetic image from Servico Geologico do Brasil (Geological Service of Brazil)
Next Steps
Work programs will focus on ground reconnaissance, geophysical drone survey works, drill target identification and drilling. It is estimated that these works will occur over the next 6-months but are subject to change as the Company gains further knowledge on the projects.
Initial indicators and impressions gathered from this site visit will continue to inform the Company’s approach to exploration at both Caraíbas and Sidrônio over the coming months but the strategy already developed is considered appropriate with a view to developing drill targets over the next few months.
Click here for the full ASX Release
This article includes content from Lightning Minerals, 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.
Large Basin Confirmed in Drillholes with Multiple Brine Horizon Targets - Liberty Lithium Brine Project USA
QX Resources Limited (ASX: QXR, ‘QXR’) can confirm that the Liberty Lithium brine project in California, USA, is a large brine basin with numerous brine aquifers, shown in downhole sampling and geophysics in the second hole of the Company’s two-hole diamond drill program (Table 1).
- Drilling and geophysics indicate the existence of a large brine basin at Liberty Lithium Brine Project USA, with brine intersected over 400 m vertically.
- oGeological similarities confirmed with the nearby Silver Peak lithium brine producer Albemarle, in Clayton Valley Nevada, with encouraging initial lithium assay results, aquifers and salinity.
- Lithium brine specialists have proposed additional drilling to intersect deep lithium brines in the centre of the basin, in a more favourable setting, further west of recent drilling.
- Discussions continue with various USA based battery supply participants who are keen to work with potential new lithium developers within the USA, including with Stardust who aim to IPO in June.
- QXR and IG Lithium Option Agreements are being amended to facilitate undertaking further drilling.
- QXR aims to provide an update soon on progress with gold exploration in Queensland.
Porous conglomerates saturated with brines were intersected beneath fine grained lake sediments with sandy layers. The geology intersected is very encouraging as it is similar to the producing sequences of Clayton Valley Nevada, where Albemarle’s producing lithium brine deposit is located 1. Detailed downhole geophysics together with initial downhole brine sampling (packer sampling) shows increasing salinity with depth, together with large brine volumes, both encouraging for discovering a potentially economic lithium brine deposit in the properties.
Although the maximum lithium assay values were 50mg/l Li over 15 metres near the base of hole #2 (Table 2), the salinity and conductivity increased with depth, at levels similar to known producers. Ingress of fresh water into the aquifers may explain the lower lithium values in drill holes #1 and #2 being located close to a range front fault on the edge of the basin. These initial holes were located near the edge of the basin in part for logistics and access reasons as well as the surface lithium anomaly.
Hole #2 also intersected thick porous brine horizons – critical for future success- which is considered encouraging, together with the geological similarity to Clayton Valley NV (Albemarle’s Silver Peak mine). These similarities include basal porous conglomerate units containing brine beneath finer grained lake sediments. However, the best producing horizons at Clayton Valley are tuff units within the sediment package which have not been intersected in drillholes to date, but which outcrop 4km to the southwest of hole #2 (Figure 4).
Results were analysed by external lithium brine specialists to produce interpretations, including the globally recognised Hydrominex Geoscience Consulting. Lithium brine specialists have advised additional drilling is required to potentially intersect deep lithium brines in the centre of the basin, further west of drilling undertaken by QXR, based on lab results to date.
QXR Managing Director, Stephen Promnitz, said:“QXR has defined a new large scale brine basin, saturated with brines, at the Liberty Lithium Brine Project. A large near-surface brine field with lithium potential is rare to date in the USA. The geological setting, with conglomerates loaded with brines, is similar to Albemarle’s producing deposit. We are yet to find tuff horizons similar to Clayton Valley, which are the best brine aquifers – although they do outcrop nearby, suggesting they may exist within the basin. Surface and downhole geophysics make it compelling for further drilling to the west, in the centre of the basin under deeper sediments, which may intersect higher grade lithium brine, compared to the drilling to date.”
Next Steps
Applications for further drillholes were submitted some time ago. To provide operational flexibility, an amended drill program has been submitted to regulators for approval. Bulk volumes of brine will be submitted for testwork with selected direct lithium extraction (DLE) providers, as well as with lithium refiner Stardust Power Inc, with whom QXR holds at Letter of Intent (ASX announcement 29 Feb 2024). Stardust expects to list on NASDAQ in June via a c.US$490m deal and then plans to build a lithium refinery in Oklahoma.
Discussions continue with various USA based battery supply participants who are keen to work with potential new lithium developers within the USA.
QXR and IG Lithium are currently discussing amendments to the Option Agreements to facilitate the undertaking of further drilling.
Background
The Liberty Lithium Brine Project, located in SaltFire Flat, California, covers contiguous claims over 102km2 (25,300 acres), being one of the largest single lithium brine projects in the USA (Figure 1). The Company entered an Option to Purchase Agreement and an Operating Agreement (Option Agreements) to earn a 75% interest in the large scale Liberty Lithium brine project in California, USA, from vendor IG Lithium LLC (ASX announcement 5 October 2023). Based on results received to date, the Company is currently in discussion with IG Lithium regarding potential renegotiation of the Option Agreements to allow a longer period of time to conduct additional drilling prior to any future commitments.
Two vertical diamond drill holes were completed (369m & 443 metres depth), spaced 4km apart (Figure 2, 3). Holes were centred over an extensive lithium brine surface anomaly and significant MT geophysical target, interpreted as a series of conductive brine bearing aquifers at depth. Brine horizons were intersected in both holes with numerous brine aquifers intersected in drillhole #2 (ASX announcement 8 Feb 2024).
QXR entered into a Letter of Intent with Stardust Power Inc., a development stage American manufacturer of battery-grade lithium products, to assess the lithium brines from the Liberty Lithium Brine Project. The parties intend to evaluate options to potentially supply Stardust Power with lithium brine products, dependent on results, on a non-exclusive basis for processing into battery-grade lithium materials for electric vehicles (ASX announcement 29 Feb 2024). The Company plans to share the results of the two hole drill program with Stardust as part of ongoing discussions.
Click here for the full ASX Release
This article includes content from QX Resources, 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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