Jindalee Lithium Limited (ASX:JLL) (Jindalee, the Company) is pleased to provide an update on progress at its 100% owned McDermitt Project, the largest lithium deposit in the US by contained lithium in Mineral Resource (Table 1)1.
PRE-FEASIBILITY STUDY (PFS)
The McDermitt PFS commenced in June 2023 with leading global EPCM company Fluor Corporation appointed as lead engineer and Michael Elias engaged as the Company’s Study Manager. Fluor has extensive experience with US sediment hosted lithium deposits and has assembled a team of highly credentialled metallurgists and engineers to work on the study. Fluor is also managing the metallurgical testwork program being undertaken concurrently with the PFS. In early December 2023 Jindalee advised the appointment of Ian Rodger as Chief Executive Officer, commencing mid-January 20242. Ian is an experienced mining engineer and will lead the delivery of the McDermitt PFS.
Additional study work is underway with US West Coast based engineering firms for supporting works including pit geotechnical, mine waste and tailings storage management, hydrology and water supply and grid power supply. In addition, discussions are underway with a mine planning engineering consultancy with contract award targeted for early in the new year. The PFS will also leverage the baseline environmental studies and Native American heritage investigations undertaken for the Exploration Plan of Operations (refer below).
Work is progressing well with several preliminary deliverables already having been received. The PFS is expected to continue through until mid-2024, subject to the timing of metallurgical test results, site investigations and approvals.
PERMITTING – EXPLORATION PLAN OF OPERATIONS
In May 2023 Jindalee announced that the EPO for McDermitt, originally submitted to the US Bureau of Land Management (BLM) in August 2022 (with additional information provided early 2023), had been deemed complete5. The BLM advised that following close of the public comment period on the EPO mid-September 2023 comments were being assessed as a part of the environmental review process required by the National Environmental Policy Act (NEPA), with the final decision of the NEPA assessment to be incorporated into the EPO.
Jindalee has been notified by the BLM that the NEPA process will commence 10 January 2024. This is a significant milestone as once approved, the EPO will allow Jindalee to significantly increase on-site activity, including infill drilling and providing additional, fresh samples for site investigations (e.g. geotechnical, hydrological) and further metallurgical testwork.
Jindalee continues to engage with US Government agencies (both State and Federal) regarding opportunities to advance McDermitt, including technical cooperation between agencies and the potential for US Government funding for the Project, with further updates expected in the new year.
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This article includes content from Jindalee Lithium 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.
Jindalee will be attending the PDAC Convention in Toronto, Canada over 2-5 March 2025
Jindalee will present to a North American investor audience at Redcloud's 13th annual Pre-PDAC Mining Showcase in Toronto over 27-28 February 2025
Redcloud is a Canadian-based investor relations group specialising in the junior resources sector
Jindalee Lithium Limited (ASX: JLL) (OTCQX: JNDAF) (Jindalee, the Company) is pleased to announce that the Company will participate in both the Prospectors and Developers Association of Canada (PDAC) Convention and the Pre-PDAC Mining Showcase, hosted by Redcloud Financial Services Inc. (Redcloud), a globally oriented resource focused financial services platform.
Jindalee can be found at booth 2606 in the Investors Exchange Exhibition Room at the PDAC Convention which will be attended by Jindalee's Chief Executive Officer, Ian Rodger. PDAC, regarded as one of the world's premier resources conferences, will run from Sunday, 2 March 2025 until Wednesday, 5 March 2025 at the Metro Toronto Convention Centre in Ontario, Canada.
Jindalee is also participating in Redcloud's Pre-PDAC Mining Showcase at the Omni King Edward Hotel in Toronto over Thursday 27 and Friday, 28 February 2025. Ian will be presenting at the Pre-PDAC Mining Showcase at 4.00pm local time on Friday, 28 February 2025. Jindalee will also be available to engage with investors in one-on-one meetings at the Pre-PDAC Mining Showcase and encourages interested investors to register for the event.
Jindalee looks forward to updating the North American mining and investment communities on progress at its 100% owned McDermitt Lithium Project which hosts one of the largest lithium resources in the U.S. The Pre-Feasibility Study at McDermitt, released in November 2024, outlines a highly robust multi-generational battery chemicals project1.
To register for the PDAC Convention visit here: https://pdac.ca/convention-2025/attending-2025/registration-2025
For more information and to register for the Pre-PDAC Conference please visit: https://redcloudfs.com/prepdac2025/
Authorised for release by the Jindalee Board of Directors. For further information please contact:
| LINDSAY DUDFIELD | IAN RODGER |
| Executive Director | Chief Executive Officer |
| T: + 61 8 9321 7550 | T: + 61 8 9321 7550 |
| E: enquiry@jindaleelithium.com | E: enquiry@jindaleelithium.com |
About Jindalee
Jindalee Lithium is an Australian company focused on developing the McDermitt Lithium Project, one of the largest lithium resources in the U.S. With 100% ownership and unencumbered offtake rights, Jindalee is strategically positioned to support America's energy security and domestic supply of critical minerals. The Company recently completed a Pre-Feasibility Study (PFS) confirming McDermitt's scale, long-life, and low-cost production potential, with strong engagement from U.S. government agencies, including the Department of Energy and Department of Defense. As a deeply undervalued lithium developer, Jindalee presents a compelling investment opportunity ahead of the next lithium market upcycle.
Competent Persons Statement
The Company confirms that it is not aware of any further new information or data that materially affects the information included in the original market announcements by Jindalee Lithium Limited referenced in this report and in the case of estimates of Mineral Resources, that all material assumptions and technical parameters underpinning the estimates in the relevant market announcements continue to apply and have not materially changed. To the extent disclosed above, the Company confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from the original market announcements.
Forward-Looking Statements
This document may contain certain forward-looking statements. Forward-looking statements include but are not limited to statements concerning Jindalee Lithium Limited's (Jindalee's) current expectations, estimates and projections about the industry in which Jindalee operates, and beliefs and assumptions regarding Jindalee's future performance. When used in this document, the words such as "anticipate", "could", "plan", "estimate", "expects", "seeks", "intends", "may", "potential", "should", and similar expressions are forward-looking statements. Although Jindalee believes that its expectations reflected in these forward-looking statements are reasonable, such statements are subject to known and unknown risks, uncertainties and other factors, some of which are beyond the control of Jindalee and no assurance can be given that actual results will be consistent with these forward-looking statements.
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1Jindalee Lithium ASX announcement 19/11/2024: "McDermitt Lithium Project Pre-Feasibility Study"
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/241723
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Jindalee Lithium Limited (Jindalee, the Company; ASX: JLL, OTCQX: JNDAF) advises that the Company has sold its shareholding in Dynamic Metals (ASX: DYM, Dynamic), raising $2.75M before costs.
Dynamic was formerly a Jindalee subsidiary which held Jindalee’s Australian exploration assets. Dynamic was spun out of the Company in January 2023 following a $7M IPO which included a priority entitlement to Jindalee shareholders1, leaving Jindalee as a pure play US lithium company focussed on the 100% owned McDermitt Project (McDermitt), one of the largest lithium deposits in the US and of global significance.
In mid-November 2024 Jindalee announced the results of a Pre-Feasibility Study (PFS) on McDermitt2. The PFS confirmed a 63 year life with the Project producing 1.8Mt Lithium Carbonate at C1 costs of US$8,670/t for the first 40 years and a 5 year payback. The PFS also noted excellent potential to reduce capital and operating costs as well as increase production at McDermitt.
Priority activities following completion of the PFS include engagement with potential funding partners and US Government agencies, together with investigation of opportunities to improve Project economics, permitting and community engagement. The proceeds from the Dynamic sale will enable these activities to be accelerated.
Jindalee’s CEO Ian Rodger commented"This transaction is firmly aligned with our strategy of advancing McDermitt while preserving shareholder value. At a time when many lithium companies are struggling to raise capital, Jindalee’s ability to unlock funding from a non-core asset enables us to accelerate project development in a less dilutive way. History shows that projects advanced during downturns are best positioned to capture the upswing, and with lithium prices at unsustainable levels, a supply crunch is inevitable. This funding provides us the runway to progress key catalysts—including engagement with potential funding partners and US government agencies, project optimisation, and advancing permitting and community engagement. As one of the most advanced sedimentary lithium projects in the US, McDermitt is strategically positioned to benefit from the policy priorities of the new administration as the US moves to secure domestic supply of critical minerals."
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This article includes content from Jindalee Lithium 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.
Further to the announcements made on 10 February 2025 (RNS Number: 5769W) and 17 February 2025 (RNS Number: 2615X), CleanTech Lithium PLC announces that it is extending the deadlines for both the Broker Option and Retail Offer, partly due to an administrative delay registering the ISIN for the warrant instrument. No other changes to the timetable have been made.
Revised Expected Timetable
Broker Option and Retail Offer close | 5:00pm on 7 March 2025 |
Results of the Broker Option and Retail Offer announced | 10 March 2025 |
Admission and dealings in Broker Option Shares and Retail Offer Shares commence | 20 March 2025 |
The extension provides additional time for investors and shareholders to participate as the Company progresses its strategy to develop sustainable lithium projects in Chile, supporting the global energy transition. Bids and applications already made remain valid and binding, with no further action required from those who have already submitted a bid in the Broker Option Bookbuild or an application for the Retail Offer.
As stated in the RNS circulated on 10 February 2025, the Company announced an accelerated bookbuild to raise gross proceeds of £2.4 million by way of a placing of 15,000,000 new Ordinary Shares at a price of 16 pence per new Ordinary Share.
The Company also granted a Broker Option to Fox-Davies Capital Limited, pursuant to which up to an additional £2.0 million can be raised at the Issue Price. In view of the potential interest of retail shareholders in participating in the Fundraising, the Company also announced a retail offer via BookBuild (the "Retail Offer") of new ordinary shares (the "Retail Offer Shares") at a price of 16 pence per Retail Offer Share together with one Warrant for every Retail Offer Share. The Retail Offer is only being made available to existing shareholders of the Company on the same financial terms as shares are available under the Broker Option.
The amount raised under the Broker Option and the Retail Offer will not in aggregate exceed £2 million.
Words and expressions defined in the Company's announcements of 10 and 17 February 2025 shall have the same meaning in this announcement.
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 cleantech@celicourt.uk |
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 |
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
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This article includes content from Cleantech Lithium PLC, 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.
A Chinese company has halted exports of filtration equipment used in lithium extraction, reflecting the impact of Beijing’s proposed restrictions on battery and lithium technology exports.
Jiangsu Jiuwu Hi-Tech (SZSE:300631) informed customers last month that it would stop exporting a key lithium-processing component known as a sorbent starting on February 1, Reuters reported on Tuesday (February 18).
The news outlet notes that the move signals Chinese manufacturers are adjusting their practices even before Beijing’s proposed export controls have been formally implemented.
Sorbents are essential in lithium extraction from brine and other solutions. China is the largest producer of these materials, but the scale of the market remains unclear due to limited official data.
China's proposed export restrictions, announced in January, would require companies to obtain government licenses for overseas sales of certain battery and lithium-related technologies, including sorbents.
An anonymous lithium extraction technology company executive said both Jiangsu and Sunresin New Materials (SZSE:300487) — another major sorbent producer — are talking to Chinese authorities about the proposed controls.
China’s Ministry of Commerce has not publicly commented on the proposal since its announcement, but the prospect of tighter restrictions is already influencing corporate decision making. Some industry participants believe the proposed measures are discouraging exports of listed items, particularly to countries perceived as unfriendly.
A China-based international lawyer working with clean energy firms noted that commerce ministry officials have visited companies that could be affected, warning one firm against proceeding with a US$1 billion export deal under negotiation. The lawyer added that banks are requiring additional approvals before financing exports of controlled items.
China’s Ministry of Commerce has not responded to Reuters' requests for comment.
Similar measures have already disrupted global supply chains in other sectors. In December, China announced an export ban on antimony, a critical mineral used in batteries and flame retardants.
Potential restrictions on Chinese sorbents has raised concerns among western companies seeking to develop lithium extraction capabilities, particularly oil firms exploring lithium recovery from brine deposits.
More broadly, the uncertainty surrounding China’s export policies aligns with wider efforts by western governments and companies to secure alternative sources of critical minerals.
The US, the EU and other allies have accelerated policies aimed at reducing dependence on China for materials essential to electric vehicle batteries, renewable energy technologies and defense applications.
The Minerals Security Partnership, launched in June 2022, is a collaborative effort among 14 countries and the EU. Its primary goal is to secure supply chains for critical minerals, reducing dependence on any single source.
In the semiconductor industry, efforts to diversify supply chains have also gained momentum.
Under the Biden administration, the US enacted the CHIPS and Science Act, allocating nearly US$53 billion to bolster domestic chip production. This legislation aims to revitalize US semiconductor manufacturing, create jobs and enhance national security by reducing reliance on foreign suppliers.
In Europe, the EU's Critical Raw Materials Act, introduced in 2023, aims to increase domestic production of strategic minerals while establishing partnerships with resource-rich nations outside China. The EU has been engaging with countries such as Chile and Argentina — major lithium producers — to strengthen supply chain security.
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Securities Disclosure: I, Giann Liguid, hold no direct investment interest in any company mentioned in this article.
Lithium Universe Limited (referred to as "Lithium Universe" or the "Company," ASX: "LU7”) is pleased to announce the signing of a Memorandum of Understanding (MOU) with La Corporation de l’École Polytechnique de Montréal (Polytechnique Montréal). Lithium Universe Limited and Polytechnique Montréal have entered into a strategic partnership aimed at advancing lithium processing technologies and strengthening the local supply chain for critical battery materials in Canada. The collaboration, outlined in a Memorandum of Understanding, seeks to enhance education, research, and innovation in areas of mutual interest, with a primary focus on building Canadian expertise in the lithium battery sector.
Highlights
About Polytechnique Montréal
Polytechnique Montréal is one of Canada’s leading engineering schools, renowned for its research and innovation in applied sciences and technology. Located in Montréal, Quebec, it is affiliated with the Université de Montréal and serves as a hub for multidisciplinary research and development. Polytechnique's commitment to addressing global challenges, including sustainability and energy transition, aligns closely with LU7’s mission to support the advancement of critical materials for clean energy. With a focus on academic excellence and technological innovation, Polytechnique provides a dynamic environment for students, researchers, and industry partners to collaborate and drive impactful solutions.
Key Objectives of the Partnership
The primary aim of the partnership is to enhance local expertise and innovation in Canada. This involves developing and strengthening capabilities in lithium processing through various initiatives such as joint research, innovation projects, and educational programs. Specifically, the focus will be on building local expertise in lithium processing tailored for the battery industry and conducting research to innovate in lithium processing technologies.
Another crucial objective is education and talent development. The partnership seeks to foster educational growth by offering numerous opportunities including internships, fellowships, co-ops, and joint academic projects. This effort is geared towards supporting diversity, encouraging entrepreneurship, and incubating start- ups within the lithium battery sector.
Furthermore, strategic educational partnerships will be established to facilitate collaboration in the development and delivery of postgraduate and short courses. These partnerships will also encompass student placements and co-developed research projects, enhancing the educational landscape and practical experience in the field.
Lastly, the partnership underscores the importance of sustainability and commercialization. It aims to drive sustainable practices within the industry while also supporting the commercialization of new technologies. This initiative will help bolster Canada's role in the global energy transition by turning innovative research into market- ready solutions.
This partnership is set to last for an initial term of five years, with the possibility for further collaboration through additional project agreements.
Lithium Universe Chairman, Iggy Tan said, "It is a privilege to partner with this prestigious university as we ignite innovation and cultivate a thriving lithium battery industry in Canada. Together, we are committed to educational excellence and sustainable industry growth, shaping a future where Canadian expertise leads the global stage.”
Polytechnique Director of the Office of Partnerships and Research Infrastructure, Augustin Brais said, “We are enthusiastic about this new, synergetic and innovative partnership that will enhance our educational and research mission towards a greener and more sustainable societal electrical energy future."
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This article includes content from Lithium Universe, 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.
Arizona Lithium (ASX:AZL,OTCQB:AZLAF) provided an update on development plans for its Prairie lithium brine project, saying the Saskatchewan-based asset will be brought into production in three phases.
The company said on February 6 that Phase I will involve the start of production at Pad #1. It will use a commercial-scale direct lithium extraction (DLE) unit that can produce 150 tonnes of lithium carbonate equivalent annually.
The goal is to process brine at about 1,000 cubic meters a day to ensure the system works under real conditions. Arizona Lithium said it will use the resulting product to de-risk end market opportunities.
"2025 will be a year of facility construction and commissioning Phase I at Pad #1. Our phased development plan clearly articulates how we will continue to de-risk and develop the project," said Managing Director Paul Lloyd
"Modularisation allows rapid and cost-effective scale-up to increase production in Phase II and III.”
Construction work at Pad #1 is due to start in the second quarter, with CAPEX for Phase I set at AU$35 million. According to Arizona Lithium, Phase I will create one of the world's largest DLE facilities.
Upon achieving commissioning and operating targets, the company will proceed to Phase II of Prairie’s development, which will expand Pad #1's output with the addition of commercial-scale DLE units at the site.
During Phase III, the company will replicate its pad design across Pad #2 and Pad #3.
Lloyd also outlined the work that has led the company to this point at Prairie, saying that a prefeasibility study was released in 2023, while in 2024 Arizona Lithium partnered with three landowners to secure pad locations.
Additional pad locations are currently being finalised by the company.
Aside from Prairie, the company holds the Big Sandy sedimentary lithium project in Arizona.
Only 4 percent of the property has been explored to date, but work at the site is currently on hold.
In August 2024, the Hualapai Tribe sued the US Department of the Interior and Bureau of Land Management over Big Sandy, citing risks to Ha’Kamwe’, a sacred spring, and other cultural sites.
According to a November release from Arizona Lithium, the US District Court for the District of Arizona favoured the tribe, granting the project a preliminary injunction and halting drilling until the case is resolved.
Arizona Lithium said that Big Sandy remains one of its core projects.
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Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.
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