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Rock Tech Lithium Inc. (the "Company" or "Rock Tech") (TSX-V: RCK) (Frankfurt: RJIB) (OTCQX: RCKTF) is pleased to announce completion of a pilot test program and prototype production of battery grade lithium hydroxide monohydrate greater than 99.5% purity, in compliance with end-user electric vehicle lithium-ion battery production specifications.
Rock Tech has been developing and optimizing a commercially proven process technology to produce battery grade lithium hydroxide monohydrate (BG-LHM) from various spodumene concentrates. The process technology was developed to optimize conversion and purification of lithium from concentrates produced at several mining operations in Australia and North America .
The process technology was pilot tested at Anzaplan of Germany to demonstrate product quality using the process design developed for Rock Tech by Wave International of Australia . Several test programs are in progress at various equipment vendor test facilities to finalize the design and process equipment selection for commercial scale solution purification and crystallization circuits.
Through consultation with tier 1 end users, the Company planned and delivered a high-end product specification which exceeds the requirements of GB/T 26008-2020 D1, a Chinese technical standard commonly considered as the benchmark for BG-LHM. The Company has targeted such a specification in order to attract tier 1 customers, and de-risk the future marketability of the Company's product as customers continue to demand higher specification cathode materials over time.
"We are pleased with the initial test results from our batchwise pilot program in Germany ," said Don Stevens , Rock Tech's Chief Technology Officer. "The results demonstrate the functionality of our process flowsheet to produce high quality, battery grade lithium hydroxide and are key inputs into the design of our first planned commercial scale lithium hydroxide converter."
The Company has received a sample of BG-LHM as a product from the Anzaplan pilot test program and has begun shipping samples to potential customers (end-users) for product quality testing as offtake discussions progress.
"Discussions with potential LHM customers are intensifying," said Dirk Harbecke , Rock Tech's Chairman and Chief Executive Officer. "Understanding the performance of spodumene feedstock in our flowsheet and meeting potential customer product specifications are key milestones for us as we aim to build Europe's first lithium hydroxide converter."
About ANZAPLAN
The Dorfner group of companies is a leading European industrial and specialty minerals producer with more than a century of experience in industrial and specialty minerals processing, delivering high quality materials, purified products and refined additives to a wide range of industries including the chemical, pharmaceutical, electronics, ceramics and glass industry.
About Wave International
Wave International (Wave) are a leading consultancy specializing in the battery and technical metals sectors, with specific expertise in the lithium ion battery supply chain. Wave have over 18 years experience in lithium processing, including upstream mineral concentrates and downstream lithium chemical manufacturing. Wave are headquartered in Australia , with offices in the Netherlands , Mongolia and South Africa .
About Rock Tech Lithium Inc.
Rock Tech is a cleantech company powering the electric mobility revolution. The Company aims to serve the automotive industry with high-quality lithium hydroxide. Rock Tech's goal is to zero out emissions – one lithium battery at a time by becoming the first closed-loop lithium company, using and reusing lithium for a cleaner future.
On behalf of the Board of Directors,
"Dirk Harbecke"
Dirk Harbecke
Chairman & Chief Executive Officer
Cautionary Note Concerning Forward-Looking Information
The following cautionary statements are in addition to all other cautionary statements and disclaimers contained elsewhere in, or referenced by, this news release.
Certain information set forth in this news release contains "forward-looking information" within the meaning of applicable Canadian securities laws. All statements other than statements of historical facts included in this news release, including those regarding Rock Tech's opinions, beliefs and expectations, business strategy, development and exploration opportunities and projects, mineral resource estimates, drilling and modeling plans, and plans and objectives of management for operations and properties constitute forward-looking information. Generally, forward-looking information can be identified by the use of words or phrases such as "estimate", "project", "anticipate", "expect", "intend", "believe", "hope", "may" and similar expressions, as well as "will", "shall" and all other indications of future tense. All forward-looking information set forth in this news release are expressly qualified in their entirety by the cautionary statements referred to in this section.
Forward-looking information is based on certain estimates, expectations, analysis and opinions that are believed by management of Rock Tech to be reasonable at the time they were made or in certain cases, on third party expert opinions. It should be noted that, in order to achieve its objectives, Rock Tech will be required to raise additional funding and the availability of financing on satisfactory terms is not guaranteed. This forward-looking information was derived utilizing numerous assumptions regarding, among other things, the supply and demand for, deliveries of, and the level and volatility of prices of, intermediate and final lithium products, expected growth, performance and business operation, prospects and opportunities, general business and economic conditions, results of development and exploration, Rock Tech's ability to procure supplies and other equipment necessary for its business, including development and exploration activities. The foregoing list is not exhaustive of all assumptions which may have been used in developing the forward-looking information. While Rock Tech considers these assumptions to be reasonable based on information currently available, they may prove to be incorrect. Forward-looking information should not be read as a guarantee of future performance or results.
In addition, forward-looking information involves known and unknown risks and uncertainties and other factors, many of which are beyond Rock Tech's control, that may cause Rock Tech's actual events, results, performance and/or achievements to be materially different from that which is expressed or implied by such forward-looking information. Risks and uncertainties that may cause actual events, results, performance and/or achievements to vary materially include the risk that Rock Tech will not be able to meet its financial obligations as they fall due, changes in commodity prices, Rock Tech's ability to retain and attract skilled staff and to secure feedstock from third party suppliers, unanticipated events and other difficulties related to construction, development and operation of converters and mines, the cost of compliance with current and future environmental and other laws and regulations, title defects, competition from existing and new competitors, changes in currency exchange rates and market prices of Rock Tech's securities, Rock Tech's history of losses, impacts of climate change and other risks and uncertainties discussed under the heading "Financial Instruments and Other Risks" in Rock Tech's most recently filed Management Discussion and Analysis, a copy of which is filed electronically through SEDAR and is available online at www.sedar.com . Such risks and uncertainties do not represent an exhaustive list of all risk factors that could cause actual events, results, performance and/or achievements to vary materially from the forward-looking information.
We cannot assure you that actual events, results, performance and/or achievements will be consistent with the forward-looking information and management's assumptions may prove to be incorrect. Our forward-looking information reflects Rock Tech management's views as at the date the information is created. Except as may be required by law, Rock Tech undertakes no obligation and expressly disclaims any responsibility, obligation or undertaking to update or to revise any forward-looking information, whether as a result of new information, future events or otherwise, to reflect any change in Rock Tech's expectations or any change in events, conditions or circumstances on which any such information is based.
The forward-looking information contained herein is presented for the purposes of assisting readers in understanding Rock Tech's plans, objectives and goals and is not appropriate for any other purposes.
Given these uncertainties, readers are cautioned not to rely on the forward-looking information set forth in this news release.
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SOURCE Rock Tech Lithium Inc.
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