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May 30, 2022
LITHIUM EXPERT PROMOTED FROM EXEC DIRECTOR FOLLOWING EXECUTIVE SEARCH
Growing multi-asset West Australian lithium company Global Lithium Resources Limited (ASX: GL1, “Global Lithium” or “the Company”) is pleased to announce the appointment of Mr Ron Mitchell as Managing Director, effective 1st June 2022. Ron joined the GL1 board on 1st March 2022 as Executive Director – Markets & Growth.
Key Highlights
- Executive Director Ron Mitchell appointed Managing Director of Global Lithium Resources (ASX:GL1) following executive search process
- Mr Mitchell has more than 25 years’ experience in senior commercial, strategy, sales and business development roles including more than 10 years in the lithium and battery metals industry
- Mr Mitchell is the inaugural Chairman of the London Metal Exchange (LME) Lithium Committee, a role he has held for more than two years
- Previously Sales Director, International Business Group for global lithium company Tianqi Lithium Corporation
GL1 commenced an executive search process through Gerard Daniels for the Managing Director Role at the beginning of 2022. The search, coupled with Mr Mitchell’s performance since joining GL1 in March, confirmed to the Board that he is the ideal candidate to lead the Company in its next stage of growth, where it looks to transition to a significant lithium developer.
Mr Mitchell has already been a part of a number of significant developments at GL1 since joining the Company, including the signing of a 10-year offtake agreement with major shareholder Suzhou TA&A Ultra Clean Technology Co. Limited, the introduction of Mineral Resources (ASX:MIN) as a cornerstone investor and the commencement of the Company’s maiden drilling campaign at the Manna Lithium Project. This involvement, in addition to GL1’s rapid growth since listing on the ASX just over 12 months ago, sets a strong platform for Ron to build from as Managing Director.
As detailed in his board appointment announcement (ASX Announcement 13th January 2022) Mr Mitchell has more than 25 years’ experience in senior commercial, strategy, sales and business development roles including more than 10 years in the lithium and battery metals industry with senior roles at Tianqi Lithium
Corporation and Talison Lithium. He is also the inaugural Chairman of the London Metal Exchange (LME) Lithium Committee, a role he has held for more than two years.
As Managing Director, Mr Mitchell will be accountable for all strategic partnership negotiation, the day-today activities on the ground at the Company’s portfolio of WA lithium assets, business growth opportunities and work towards fast tracking asset development and production.
In addition to the appointment of Managing Director, the Board will continue to strengthen the Company by looking to add further project development skills and other key executive roles as GL1 advances towards project evaluation, development and production.
Global Lithium Non-Executive Chair, Warrick Hazeldine commented,
“Whilst we had commenced an executive search to identify the right person to lead the Company in its next stage of growth towards development and production, over the last couple of months it became evident that we already had the right person for the job on the team.
Ron is truly a leader in the lithium space and his knowledge of the global lithium market is second to none. The feedback we received from both institutions and private investors alike, is that this is who they wish to see at our helm as we advance GL1.
We look forward to the future with Ron as MD and we are confident the transitional stage ahead for the Company is going to be an exciting one.”
Newly appointed Managing Director, Ron Mitchell said,
“I am very pleased to accept the role of Managing Director at GL1, a company that is well positioned in terms of having two highly prospective lithium exploration projects in two prominent mining jurisdictions here in Western Australia. In addition, the experience and integrity of the Board and management team is compelling and best in class.
It is my firm view that we are still in the early stages of the global e-mobility energy transition and the lithium industry has tremendous upside potential. I look forward to building GL1 into a global lithium brand and am committed to the long-term success of the company, our shareholders, and the broader industry.”
Click here for the full ASX Release
This article includes content from Global Lithium Resources 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.
GL1:AU
The Conversation (0)
04 December 2024
Strategic Acquisition Consolidates Large Scale Gold and Base Metal Target Area
Acquisition of Octava Minerals’ Talga Project and Exploration Update
Established multi-asset Western Australian lithium company, Global Lithium Resources Limited (ASX: GL1, Global Lithium or the Company) is pleased to announce the acquisition of seven strategic tenements adjacent to the Company’s Marble Bar Gold Project to complete coverage of a large gold in soil geochemistry anomaly that is spatially associated with a highly altered granite (Figure 1).
Key Highlights
- Strategic, low-cost acquisition of the Talga Project from Octava Minerals (ASX: OCT) for $200,000 cash and $200,000 in Global Lithium Resources (ASX: GL1) ordinary shares based on the 5-day VWAP prior to completion.
- Aligns with GL1’s prudent cost management and value-accretive strategy to assess non-lithium mineral prospectivity across its largely unexplored portfolio of tenements.
- Consolidation of a 12km trend of gold in soil geochemical anomalies on the northwestern margin of the Mt Edgar Batholith.
- Identification of a potential porphyry/Intrusion related Cu-Au mineralised system associated with a finger of the Coppin Gap Granodiorite, which is the interpreted source of the Archean Spinifex Ridge Mo-Cu-Ag Porphyry Deposit, located 20km away.
- Increased recent corporate activity relating to Pilbara gold project development with Creasy Group acquiring nearby Calidus Resources (ASX: CAI) and Northern Star’s (ASX: NST) announced intention to acquire De Grey Mining (ASX: DEG).
- Process commenced seeking partners to accelerate and fund further exploration, along with previously announced Exploration Incentive Scheme (EIS) grant funding.
Global Lithium Executive Chairman, Ron Mitchell, said the Talga Project acquisition provided a low-risk, cost efficient opportunity for the Company to expand its exposure to gold and base metals within a highly prospective region.
“There is no better time for Global Lithium to consolidate and investigate the prospectivity of Talga alongside our existing Marble Bar tenements. Interest in the region is high and market conditions for gold and base metals are very favourable.
The Manna Lithium Project remains our number one priority; however, we look forward to leveraging our in-house capabilities and external partners to unlock value from these additional tenements while the lithium market is facing near term challenges. Any future upside from the exploration work at Marble Bar will, inevitably, benefit our Manna Project and all Global Lithium shareholders.”
Since listing on the ASX in 2021, GL1 has held the Twin Veins gold prospect area at the northern end of its Marble Bar tenement package which currently comprises land area of 537km2. Several small-scale exploration campaigns have previously tested vein-hosted gold trends near the margin of granite and have returned positive gold results, warranting further exploration.
These previously reported results include;
- MBRC0619, 4m @ 4.85g/t Au from 86m1
- MBRC0621, 5m @ 3.94g/t Au from 118m1
- MBRC0623, 3m @ 8.9g/t Au from 49m1
- MBRC0159, 7m @ 4.78g/t Au from 11m2
- MBRC0157, 12m @ 2.95g/t Au from 37m3
- MBRC0006, 3m @ 5g/t Au from 25m3
Review of the prospect area by the Company’s geologists led to the identification of a sericite altered core to the granite with iron oxide pitting and minor quartz veins. A Dipole-Dipole Induced Polarisation (DDIP) survey was executed over the granite identifying a large chargeable anomaly within resistive granite, and several RC holes were drilled targeting this. Disseminated pyrite (~1%) within intensely sericite altered granite was intersected with the only significant gold result being reported in a 4m composite sample from MBRC0608 (4m @ 0.53g/t Au, 16.9g/t Ag from 220-224m)1.
GL1 has re-assayed the 1m samples from and around this intersection with a result of 5m @ 1.1g/t Au, 15g/t Ag, 0.3% Pb, 0.23% Zn from 219-224m. MBRC0608 also intersected elevated copper with an intercept of 40m @ 137ppm Cu from 156-196m against a background value of 10ppm Cu in other less altered areas of the granite. This zone also returned 36m @ 4.8g/t Ag from 164-200m.
To better understand the system two diamond drill holes, MWDD001 and MWDD002, were completed with the aim of better visualising the alteration, any mineralisation, and provide samples for petrological study. Hole MWDD001 was drilled underneath the altered core of the granite while MWDD002 was successful in intersecting the altered core as well as minor mineralisation.
Click here for the full ASX Release
This article includes content from Global Lithium Resources 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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24 October 2022
Quarterly Report: Ending 30 September 2022
Breaker Resources (ASX: BRB) is pleased to present its Quarterly Report.
Key Highlights
Lake Roe Gold Project (100%)
- The underground development strategy advances with completion of the Tura underground scoping study as one of several underground prospects – stage 1 could produce 88,000oz at cash cost of A$1,087/oz and total cost of A$1,390/oz.1
- Infill drill holes at Tura aimed at increasing the JORC categorisation continue with the latest holes drilled during the quarter returning more high-grade gold intercepts2, including:
- •5.0m @ 6.35g/t within 10.0m @ 3.43g/t from 108.6m in BBDD0146;
- •3.58m @ 10.58g/t within 10.4m @ 3.94g/t from 349m in BBDD0144.
- Three diamond rigs are onsite drilling on dayshift only with a focus on increasing the Indicated component of the underground resource at Tura and the northern flat lodes.
- Underground geotechnical study commissioned, while heritage and permitting work advances.
Manna Lithium Project (20%)
- GL1 continues to drill at Manna with drill results returning good intercepts of spodumene to 150m depth in the initial discovery area.3
- Breaker divested its remaining shareholding in GL1 at $2.066 net per share banking $15.02M.4
- Breaker retains its 20% interest, which is free carried through to positive bankable feasibility study, and other milestone payments of $20m over time.
Ularring Gold-Copper & Nickel-PGE Project (100%)
- Work permits and access agreements finalised over some of the Ularring tenements. POWs also granted over the tenement, targeting Ni-PGE and Cu-Au mineralisation.
- Drilling of four diamond drill holes targeting Nickel – Copper – Platinum metals should commence by the end of October. The drill program is co-funded by the government’s industry Exploration Incentive Scheme (EIS).
Corporate
- Lisa Wynne appointed CFO & Company Secretary on July 1, 20225
- Cash increased to $23.3M during the quarter.
- Subsequent to the end of the quarter, Managing Director Tom Sanders departed the company and has resigned from the Board. The Group’s Non-executive Chairman, Peter Cook has stepped into an interim CEO role with a planned recruitment and selection process to take place.
Lake Roe Gold Project (100%)
The Lake Roe Gold Project (“LRGP”) is located 100km east of Kalgoorlie. Breaker provided an updated resource estimate for the LRGP on December 20, 2021 estimating a total mineral resource of 1.7 million ounces (32 million tonnes at 1.6g/t Au). There are three main components to the overall resource:
1.The Bombora Prospect (containing 1.5 million oz of gold)
2.The Claypan Prospect (containing 132,000oz of gold)
3.The Kopai-Crescent Prospect (containing 69,000oz of gold)
The resource estimate was prepared and signed off by expert industry consultants, Snowden Optiro.
In April 2022, the company commenced initial open pit optimisations applying the currently available best estimates of input costs. Whilst multiple mining options presented, pit shell 41 was chosen as optimum. This scenario gave a potential pit shell to 215m depth and contained 8.4 million tonnes at 1.6g/t Au for ~427,000oz mined2 (refer Figure 1 for diagrammatic long section) at an estimated waste:ore ratio (Strip ratio) of 12.5:1.
A second conceptual pit shell (shell 74) was analysed at a revenue factor of 1.66 to determine reasonable prospects for eventual economic extraction. This shell contained 17 million tonnes at 1.4 g/t containing 764,000 ounces and a strip ratio of 17.4:1.
An underground mining study for the extraction of mineralisation below shell 74 was commissioned. This work would initially be for the Tura lode (completed) and then the ‘Northern Flats’ lodes (pending).
Click here for the full ASX Release
This article includes content from Breaker Resources 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.
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12 June
Rock Bottom: Strategic Window for Ground-level Lithium Investment in 2025
When lithium prices hit bottom, savvy investors know that’s exactly where the next big discovery begins — literally. Beneath the surface of global markets and remote exploration grounds, new opportunities are forming in the wake of a sharp price reset and renewed geopolitical urgency.
Macroeconomic and policy shifts in 2025 are creating ideal conditions for those willing to look past the headlines. While volatility in lithium prices has tempered short-term sentiment, the underlying demand trajectory remains strong. With governments reshaping supply chains to reduce reliance on China and accelerate the energy transition, lithium is emerging not only as a critical resource, but as a strategic investment theme with long-term upside.
For investors, this reset isn’t a retreat; it’s a rare chance to get in early, at ground level.
Critical metal for a low-carbon future
Lithium demand is being driven by structural, not cyclical, forces.
Global sales of electric vehicles are expected to reach 17 million units in 2025, up from just 6.6 million in 2021, according to a report from the International Energy Agency. At the same time, the rollout of renewable energy infrastructure has created a parallel boom in demand for lithium-ion batteries in stationary storage applications.
These trends have elevated lithium to the status of a strategic resource. The US, EU, Canada and Australia have all included lithium on their critical minerals lists, with policy frameworks and funding programs aimed at reshoring supply chains and reducing dependence on dominant producers such as China.
New landscape for investors
Three major forces are shaping the lithium market in 2025:
- Geopolitical realignments: China continues to dominate lithium refining and cathode production, but western economies are responding with policies that promote domestic and allied resource development. Africa, in particular, is emerging as a new frontier, offering significant untapped lithium reserves in relatively underexplored jurisdictions.
- Strategic consolidation: Major lithium producers are moving aggressively to secure future output. Rio Tinto's (ASX:RIO,NYSE:RIO,LSE:RIO) $6.7 billion acquisition of Arcadium Lithium, and SQM's (NYSE:SQM) joint ventures in Brazil and Australia reflect a renewed emphasis on long-term control of raw materials. These moves also signal confidence in lithium’s medium- and long-term pricing. Rio Tinto, in particular, remains “consistent in its belief in the long-term outlook for lithium,” according to a June 3, 2025, report from Reuters.
- Price volatility creates opportunity: Spot lithium prices experienced a steep drop in 2023 following the oversupply concerns post-2022 highs. But market watchers are now seeing signs of recovery as supply rationalizes and demand from automakers rebounds. For investors, downturns often mark the most opportune entry point — when high-quality assets are undervalued and underfunded.
Lithium Africa: A strategically aligned explorer
Amid this shifting landscape, junior exploration company Lithium Africa is capitalizing on timing, partnerships and geography. The company is focused on unlocking lithium potential across Africa, with an early focus on pegmatite-rich regions in Morocco, Zimbabwe, Côte d’Ivoire and Guinea — jurisdictions that are fast gaining attention as future pillars of global lithium supply.
Strategic partnership
One of Lithium Africa’s most distinctive value propositions is its technical and financial partnership with Ganfeng Lithium, one of the world’s largest lithium producers. Ganfeng brings deep chemical processing expertise and project development experience, providing critical de-risking support as Lithium Africa advances its early stage projects. Importantly, Ganfeng is matching every dollar raised by Lithium Africa — with $1 raised equating to $2 spent on exploration — an arrangement that reduces dilution, improves capital efficiency and signals external validation of project potential.
Raising capital at the bottom of the cycle
Unlike many juniors sidelined by the recent downturn, Lithium Africa is using the current market reset as a window of opportunity. The company has secured funding during the trough of the lithium cycle, allowing it to acquire prospective tenements at low cost and accelerate fieldwork, while competitors are cash-constrained or inactive. This countercyclical strategy is designed to generate value precisely when assets are overlooked by the broader market.
Efficient exploration for discovery-driven growth
Lithium Africa’s exploration model emphasizes efficiency. The company employs low-cost but technologically advanced geophysical and geochemical techniques to quickly evaluate and rank prospects before committing to intensive drilling campaigns. In regions like Zimbabwe — already home to several lithium occurrences — this approach allows for rapid advancement toward discovery. Should a world-class deposit be delineated, history shows that such a find is recognized and rewarded by both majors and markets, regardless of the broader cycle.
Africa's lithium frontier: Gaining global attention
Lithium Africa is part of a broader wave of explorers turning their attention to the continent. Companies such as Leo Lithium (ASX:LLL,OTC Pink:LLLAF) and Atlantic Lithium (ASX:A11,LSE:ALL,OTCQX:ALLIF) have drawn investor interest for their hard-rock projects in Mali and Ghana, respectively. Africa offers the geological potential, lower entry costs and increasing regulatory clarity that resource developers seek in a post-China supply chain strategy.
However, Lithium Africa’s differentiators — its timing, capital alignment and strategic partnership — set it apart in a competitive field.
Investor takeaway
The lithium market may be entering a phase of short-term volatility, but its long-term trajectory is defined by structural demand growth. For investors, the opportunity lies not just in producers, but in the well positioned explorers who can secure quality ground, deploy capital wisely and advance toward discovery with strong technical backing.
Companies like Lithium Africa, which align with geopolitical supply trends, partner with strategic industry leaders, and commit to efficient, high-impact exploration, offer a uniquely leveraged way to gain early exposure to the next chapter of global lithium supply.
This INNspired article is sponsored by Lithium Africa. This INNspired article provides information which was sourced by the Investing News Network (INN) and approved by Lithium Africain order to help investors learn more about the company. Lithium Africa is a client of INN. The company’s campaign fees pay for INN to create and update this INNspired article.
This INNspired article was written according to INN editorial standards to educate investors.
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 Lithium Africaand seek advice from a qualified investment advisor.
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11 June
Leadership Streamlining and Cost Reductions
10 June
Outstanding High Grade REE Diamond Drill Results
10 June
Beneficiation Delivers 4,480ppm Lithium Clay Concentrate at Red Mountain Project, USA
Latest results reinforce ability to upgrade Red Mountain mineralisation
Astute Metals NL (ASX: ASE) (“ASE”, “Astute” or “the Company”) is pleased to report further positive results from the latest phase of beneficiation testwork for its 100%-owned Red Mountain Lithium Project in Nevada, USA. The results continue to strengthen the Project’s commercial development potential.
Key Highlights
- Follow-up Falcon C beneficiation testwork completed on diamond drill core samples from the Red Mountain Project.
- Sample upgraded from 3,245ppm to 4,481ppm Lithium.
- Successful removal of 51.8% of dense material and concurrent 38% increase in lithium grade.
- Reinforces the April 2025 results indicating that Red Mountain mineralisation may be upgraded using beneficiation.
- Attrition Scrubbing beneficiation testwork now underway for comparison with the Falcon testwork results.
- Leaching testwork to be undertaken on Falcon and Attrition Scrubbing products to confirm reduced acid consumptions.
Following on from the results announced on 22 April 2025, this second phase of Falcon Beneficiation testwork was designed to concentrate lithium-bearing clay and remove unmineralized gangue (waste) in order to decrease mass and increase lithium grade. In a mineral processing context, a reduction in tonnes and volume processed with an increased head-grade typically results in lower processing costs.
This second Falcon testwork program was conducted by Sepro Laboratories (Sepro) and utilised high- clay drill core samples from hole RMDD002 (which intersected 86.9m @ 1,470ppm Li from 18.3m4). This follow-up test was designed to establish how high-clay material performed using the Falcon method, for comparison with results from the previous test conducted on lower grade mineralisation from Red Mountain.
The latest result indicates a strong ability to upgrade mineralisation, achieving a reduction of sample mass by 51.8% with a concurrent increase in lithium grade of 38% (from 3,245 to 4,481ppm Li), with an overall 66.6% lithium recovery. These results compare favourably with the previous round of testwork, exhibiting both a greater upgrade in lithium and reduction in mass, with a substantial 43% reduction in calcium and carbon (interpreted as calcite removal) expected to result in a significant reduction in acid consumption. The Company has commissioned Attrition Scrubbing testwork – another method of beneficiation – for comparison with the Falcon results. Once complete, sample products from both the Falcon and Attrition Scrubbing tests will be assessed for acid consumption in future leachability tests.
Astute Chairman, Tony Leibowitz, said:“The demonstration of a commercial pathway to a lithium product is the natural complement to the establishment of a Mineral Resource. It is for this reason that Astute has actively advanced workflows for both exploration drilling and metallurgical testing at Red Mountain, in tandem. These positive results, which reinforce the previous results from the project, represent the systematic de-risking of what continues to emerge as an important US- based critical metals project.”
Figure 1. Clay-rich RMDD002 drill-core from 160-165ft (3,280ppm Li) used in Falcon beneficiation testwork.
Background
Located in central-eastern Nevada (Figure 4), adjacent to the Grand Army of the Republic Highway (Route 6), which links the regional mining towns of Ely and Tonopah, the Red Mountain Project was staked by Astute in August 2023.
The Project area has broad mapped tertiary lacustrine (lake) sedimentary rocks known locally as the Horse Camp Formation1. Elsewhere in the state of Nevada, equivalent rocks host large lithium deposits (see Figure 4) such as Lithium Americas’ (NYSE: LAC) 62.1Mt LCE Thacker Pass Project2 and American Lithium (TSX.V: LI) 9.79Mt LCE TLC Lithium Project3.
Astute has completed substantial surface sampling campaigns at Red Mountain, which indicate widespread lithium anomalism in soils (Figure 3) and confirmed lithium mineralisation in bedrock with some exceptional grades of up to 4,150ppm Li1,5.
A total of 19 RC and diamond drill holes have been drilled at the project to date for a combined 3,666m. Exploration drilling has been highly successful, with strong lithium mineralisation intersected in every hole for which assays have been received9.
Scoping leachability testwork on mineralised material from Red Mountain indicates high leachability of lithium of up to 98%, varying with temperature, acid strength and leaching duration, and proof-of- concept beneficiation testwork has indicated the potential to upgrade the Red Mountain mineralisation6,8.
About Beneficiation
The primary purpose of beneficiation is to optimise the value of mineralised material by separating unwanted waste material (gangue) from valuable minerals.
Testwork conducted to date at Red Mountain indicates that clay-hosted lithium mineralisation may be upgraded through beneficiation, which seeks to remove coarser grained material, such as particles of sand, that do not contain appreciable lithium8. Successful beneficiation can result in reduced reagent consumption, reduced plant wear and tear, and a reduced environmental footprint.
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.
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04 June
Pursuit Dispatchs 99.5% Lithium Carbonate Samples to Potential Strategic Partners as Feasibility Studies Progress
Pursuit Minerals Ltd (ASX: PUR) (“PUR”, “Pursuit” or the “Company”) is pleased to announce that high- purity lithium carbonate samples have been dispatched to multiple parties as part of its engagement with prospective offtake and strategic partners. The samples were produced from the Company’s 250tpa Pilot Plant in Salta, Argentina, using synthetic brine chemically identical to that of the Rio Grande Sur Lithium Project.
HIGHLIGHTS
- Final product assays confirm 99.5% lithium carbonate purity, upgraded from pilot output via bench scale processing.
- Certified samples dispatched to multiple potential offtake and strategic partners for qualification.
- Feasibility study progressing for low cost, 5,000tpa operation at Rio Grande Sur.
- Ongoing small batch lithium carbonate production to support offtake qualification while preserving capital discipline in current market conditions.
- Pursuit continues to advance its dual-pronged growth strategy progressing Rio Grande Sur while accelerating the evaluation of strategic gold, silver, and copper acquisitions in Argentina.
Figure 1 – Pursuit’s 99.5% Li₂CO₃ Sample Ready for Dispatch to Potential Offtake Partners
In relation to the dispatch of samples, Pursuit Managing Director & CEO, Aaron Revelle, said:
“Achieving 99.5% lithium carbonate purity is a major technical milestone for Pursuit and a clear demonstration of the capability embedded within our flowsheet, team, and pilot plant infrastructure. It not only validates the compatibility of our process design with Rio Grande Sur brines but also confirms our ability to deliver a consistently high-quality product suited to a wide range of industrial and energy storage applications. Dispatching these samples to potential offtake partners is a critical first step in our commercialisation pathway, enabling product qualification and accelerating engagement with strategic customers in tough market conditions. As we transition into the next phase of development, our focus is firmly on advancing feasibility for our 5,000tpa operation and securing long-term partnerships that will underpin the future production and growth of the Rio Grande Sur Project.”
Initial pilot production at Pursuit’s 250tpa Pilot Plant in Salta successfully produced 15 kilograms of lithium carbonate at 98.9% purity, validating both the compatibility of the Rio Grande Sur brine and the efficiency of the Company’s conventional processing flowsheet. To enhance product quality and simulate potential refinement steps at commercial scale, a portion of this material was further treated at bench scale using fractional crystallisation (FX) and ion exchange (IX) techniques. These post processing steps upgraded the product to 99.5% purity, meeting established benchmarks for technical-grade lithium carbonate.
The final product assays confirm not only the effectiveness of Pursuit’s downstream purification strategy but also the scalability and robustness of its broader flowsheet. This achievement represents a critical milestone on the path to commercial readiness supporting key feasibility assumptions, validating end product quality, and enabling active engagement with prospective offtake partners.
Pursuit is well positioned to undertake additional small-batch production as required to meet partner qualification needs and advance strategic discussions. Furthermore, it demonstrates Pursuit’s capability to produce high-purity lithium carbonate suitable for industrial use, with potential to meet battery-grade specifications through additional refinement.
Click here for the full ASX Release
This article includes content from Pursuit 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.
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02 June
Ore Reserve Quadruples for Rhyolite Ridge Project; Reaffirms Robust Project Economics
Ioneer Ltd (ASX: INR, Nasdaq: IONR) (Ioneer) is pleased to announce a 308% upgrade to the Ore Reserve estimate for its 100%-owned Rhyolite Ridge Lithium-Boron Project (‘Rhyolite Ridge’ or the ‘Project’) in Nevada, USA, alongside updated Project economics.
- Rhyolite Ridge Ore Reserve more than quadrupled from 60 million tonnes in 2020 to 247 million tonnes, delivering a mine life of 95 years
- Ore Reserve now contains a total of 1.92 Mt of lithium carbonate equivalent and 7.68 Mt of boric acid equivalent
- Underpinning plans for a large, long-life, low-cost expandable operation, producing lithium carbonate, boric acid and then battery-grade lithium hydroxide
- Stable co-product - boric acid accounts for an average 25% of annual revenue in the first 25 years; helping ensure positive EBITDA at low lithium prices and EBITDA margin of 65.7% based on average production over first 25 years
- All-in sustaining cash cost of US$5,745 per metric tonne lithium carbonate equivalent places the Rhyolite Ridge Project in the bottom of the global lithium cost curve
- Compelling Project economics with an after-tax NPV of US$1.367 billion, and an unlevered, after-tax internal rate of return (IRR) of 14.5%
The Ore Reserve has increased by 186.6 million tonnes (Mt) and approximately 48% of the Mineral Resource has been converted into Reserve, now estimated at:
- 246.6 Mt at 1,464 ppm lithium and 5,444 ppm boron
- Containing 1.92 Mt of Lithium Carbonate Equivalent (LCE) and 7.68 Mt of Boric Acid Equivalent (BAE)
“Today’s updated Reserve and Mine Plan reinforces the importance of Rhyolite Ridge’s remarkable mineralogy. Our Ore Reserve estimate of 247 Mt containing a total of 1.92 Mt LCE and 7.68 Mt BAE make it the largest lithium-boron Reserve in the world,” said Bernard Rowe, Managing Director, Ioneer. “It allows Ioneer to match prevailing market conditions and blend or prioritise ore to produce a valuable boric acid co- product, whose market is uncorrelated with the Project’s primary lithium product. No other lithium project offers this level of flexibility and economic advantage. In periods of low cycle lithium pricing, like today, we plan to prioritize the high-boron ore production to optimize the relative proportion of total revenue derived from boric acid.”
By prioritising High-Boron (Hi-B) ore in the first 25 years of production, the Project is poised to produce an average of ~19,200 tonnes per annum (tpa) of LCE, and 116,400 tpa of boric acid (see Table 1).
The updated Ore Reserve estimate, 95-year mine plan for stage one operations, and Project economics reaffirms Rhyolite Ridge as a highly attractive global Project to produce lithium carbonate, lithium hydroxide and boric acid. The updated findings position Ioneer, on an LCE basis, in the lowest cost quartile for lithium production globally with an estimated all-in sustaining cash cost to produce battery grade lithium hydroxide of US$5,745 and a cash cost of C1 $3,858 per tonne net of expected boric acid revenue in the first 25 years.
The Project has a stable overall operating cost structure to produce lithium carbonate and battery grade lithium hydroxide due to the scale and reliability of its boric acid credit. Boron remains one of the most stable natural resource commodities over many decades.
Ioneer has refined Project plans over the past four years and updates now include an Association for the Advancement of Cost Engineering (AACE) Class 2 capital cost estimate (-10%, +15%) with approximately 70% of the Project’s engineering complete. As a result of this and other engineering work including RAM analysis and detailed engineering design, Ioneer has adopted a more conservative approach to plant availability, equipment downtime and maintenance strategies. While this approach reduces bottom line economics, the Company believes it is appropriate for a Project of this type and scale.
The Company now estimates total capital expenditure to complete the Project will be US$1,667.9 million, including a 10% contingency.
Click here for the full ASX Release
This article includes content from Ioneer Ltd, 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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