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Stardust Power Secures Exclusivity to Negotiate Licensing Arrangement for Lithium Brine Concentration Technology from KMX Technologies
Stardust Power Inc. (NASDAQ: SDST)(“Stardust Power” or the “Company”), an American developer of battery-grade lithium products, and KMX Technologies, Inc. (“KMX”) announced that it has entered into a 90-day exclusivity period during which Stardust Power and KMX will negotiate the terms and conditions related to Stardust Power’s exclusive use of lithium brine concentration technology from KMX (the “Licensing Arrangement”). The transaction is subject to the negotiation and execution of definitive documentation and the parties’ mutual board approvals.
This important technology would allow Stardust Power to potentially lower operating costs and capital expenditures across its supply chain, including at its 50,000 metric tons per annum battery-grade lithium refinery under development in Muskogee, Oklahoma, while also potentially reducing the energy and carbon intensity of the refining process. A definitive agreement could give Stardust Power exclusive use of the technology for lithium in the United States and Canada, as well as certain other jurisdictions around the world.
Stardust Power remains focused on increasing its sustainability and recycling water following commencement of its operations. KMX’s unique technology, known as vacuum membrane distillation (“VMD”), uses hydrophobic membranes to separate lithium while creating a high quality water as its byproduct. This process is less costly and potentially less energy-intensive than many competing solutions. The distilled quality water can also be used by lithium project developers as part of their direct lithium extraction washing process, in lieu of tapping sparse local freshwater resources and other uses.
Stardust Power’s Chief Executive Officer and Founder, Roshan Pujari, commented: “Creating battery-grade lithium requires energy and water, and KMX’s technology is highly efficient on both fronts. Their VMD technology produces an extremely high-quality concentrate with significantly improved water recycling. Following the execution of definitive documentation, Stardust Power would intend to deploy this technology across the supply chain at its Oklahoma refinery, when it is put into operation, and at upstream sites. This is another step forward for Stardust Power, leading at the forefront of sustainability within the U.S. lithium supply chain.”
Zachary Sadow, KMX Chief Executive Officer, said, “We are proud to partner with Stardust Power, pioneers in the critical mineral industry, as they build out the North American lithium supply chain.”
KMX’s lithium concentration technology has been publicly validated by the Canadian government, showing its ability to concentrate lithium without significant losses, generating substantially enhanced project economics.
About Stardust Power Inc.
Stardust Power is a developer of battery-grade lithium products designed to supply the electric vehicle (EV) industry and bolster America’s energy leadership by building resilient supply chains. Stardust Power is developing a strategically central lithium refinery in Muskogee, Oklahoma with the anticipated capacity of producing up to 50,000 metric tons per annum of battery-grade lithium. The company is committed to sustainability at each point in the process. Stardust Power trades on the Nasdaq under the ticker symbol “SDST.” For more information, visit www.stardust-power.com
Stardust Power Contacts
For Investors:
Johanna Gonzalez
investor.relations@stardust-power.com
For Media:
Michael Thompson
media@stardust-power.com
About KMX Technologies
KMX Technologies is solving the most critical environmental and energy challenges of the 21st century. Through its proprietary membrane distillation technology, the company sustainably sources critical minerals necessary for next generation supply chains and infrastructure, is advancing wastewater treatment, and is accelerating energy storage with its direct lithium recovery enhancement processes.
Cautionary Note Regarding Forward-Looking Statements
Certain statements in this press release constitute “forward-looking statements.” Such forward-looking statements are often identified by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “forecasted,” “projected,” “potential,” “seem,” “future,” “outlook,” and similar expressions that predict or indicate future events or trends or otherwise indicate statements that are not of historical matters, but the absence of these words does not mean that a statement is not forward-looking. These forward-looking statements and factors that may cause actual results to differ materially from current expectations include, but are not limited to: the negotiation and execution of definitive documentation regarding the Licensing Arrangement, the ability of Stardust Power to realize the anticipated benefits of KMX’s technology, the ability of Stardust Power to grow and manage growth profitably, maintain key relationships and retain its management and key employees; risks related to the uncertainty of the projected financial information with respect to Stardust Power; risks related to the price of Stardust Power’s securities, including volatility resulting from changes in the competitive and highly regulated industries in which Stardust Power plans to operate, variations in performance across competitors, changes in laws and regulations affecting Stardust Power’s business and changes in the combined capital structure; and risks related to the ability to implement business plans, forecasts, and other expectations and identify and realize additional opportunities. The foregoing list of factors is not exhaustive.
Stockholders and prospective investors should carefully consider the foregoing factors and the other risks and uncertainties described in documents filed by Stardust Power from time to time with the SEC.
Stockholders and prospective investors are cautioned not to place undue reliance on these forward-looking statements, which only speak as of the date made, are not a guarantee of future performance and are subject to a number of uncertainties, risks, assumptions and other factors, many of which are outside the control of Stardust Power. Stardust Power expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the expectations of Stardust Power with respect thereto or any change in events, conditions or circumstances on which any statement is based.
Grant of Mine Operating Permit
Ewoyaa Lithium Project granted final regulatory approval in the permitting process for the Project
Atlantic Lithium Limited (AIM: ALL, ASX: A11, OTCQX: ALLIF, “Atlantic Lithium” or the “Company”), the Africa-focused lithium exploration and development company targeting the delivery of Ghana's first lithium mine, is pleased to announce that the Minerals Commission of Ghana has issued a Mine Operating Permit in respect of the Company’s flagship Ewoyaa Lithium Project (“Ewoyaa” or the “Project”).
The Mine Operating Permit serves as the final regulatory approval required by the Company ahead of commencing construction of the Project, comprising the Ewoyaa Lithium Mine and Processing Plant, and represents an important milestone towards reaching a Final Investment Decision.
The Company currently awaits the ratification of the Ewoyaa Mining Lease by Ghana’s parliament. The Company understands that parliament will resume sitting on 15 October 2024 and will provide further updates to shareholders as appropriate.
Commenting, Neil Herbert, Executive Chairman of Atlantic Lithium, said:
“Representing the final regulatory approval required by the Company before we can commence construction, the issuance of the Mine Operating Permit marks a critical milestone in the permitting process for the Ewoyaa Lithium Project.
“With our sights set on achieving first production of lithium in Ghana, we now eagerly await parliamentary ratification of the Ewoyaa Mining Lease. We hope that ratification can occur in the coming sitting, expected to resume on the 15th of this month, which would set us on the path towards construction and operation of this globally significant lithium project.”
Authorised for release by Amanda Harsas, Finance Director and Company Secretary, Atlantic Lithium Limited.Click here for the full ASX Release
This article includes content from Atlantic Lithium, 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.
Infill Soil Sampling at Dundas to Further Define Lithium Drill Targets
Lightning Minerals (L1M or the Company) is pleased to announce the start of a targeted infill soil sampling program at its Dundas lithium project in Western Australia. The program is designed to infill the existing geochemistry program which was completed on a grid spacing of 400m x 400m and will consist of approximately 500 samples.
A number of areas of interest were identified in the previously completed regional soil sampling program, particularly on Dundas North tenements E28/3027 and E28/3028 where broad lithium in soil anomalism was identified across an area of 35km2 and up to 147ppm Li1.
HIGHLIGHTS
- Infill soil sampling program of ~500 samples to further test previously identified lithium in soil anomalism of up to 147ppm Li1
- Dundas North tenements to be tested across three large lithium targets up to 35km2, as identified in March 2023. Sampling to be completed down to granularity of 200m x 100m in some areas
- On-ground works at the Company’s Brazil lithium projects in Lithium Valley is in progress with results expected imminently
Lightning Minerals Managing Director Alex Biggs said, “It’s good to be getting back to our works at Dundas following a period of review. We are focusing on areas of interest that have been previously identified as containing lithium in soil anomalism. Our work program is focused and targeted and will allow us to identify appropriate drill targets for a future exploration program. The infill soil sampling on our Dundas North tenements is of particular interest as it allows for us to develop higher confidence drill targets across the project areas. As much as our focus is on Brazil and our accelerated exploration on those projects it is important that we further our efforts at Dundas also particularly as we have gained significant knowledge of the region since our works began there in 2022. The Company now possesses lithium exploration potential in three of the strongest jurisdictions globally for the commodity which sets us up well for success as we move forwards.”
Dundas North Infill Soil Sampling
Phase 1 soil sampling was completed during Q1 and Q2 of CY2023 with samples collected on a nominal 400m x 400m grid across the tenements, with analysis completed by LabWest Minerals Analysis (LabWest). Analysis utilised the Ultrafine + (UFF+) method with chemical analysis for a suite of 62 elements including lithium and associated pathfinders typically used for identification of lithium-caesium-tantalum (LCT) mineralisation.
The tenor of background lithium level within the project area and the Mt Belches lithological unit appears to be approximately 40-60ppm lithium. The elevated zones returning multiple samples with values above 80ppm lithium and up to a peak result of 147ppm lithium. Results are thought to provide sound vectors toward potential mineralisation as the elevations are clustered and are proximal to suitable granitic protoliths within the ‘goldilocks zone’ for LCT pegmatite mineralisation. The ‘goldilocks zone’ is typically estimated to be between 2km and 10km from the source granitic body.
This geological setting therefore requires follow up exploration works to ascertain the source of the anomalies and forms the basis of the infill soil sampling program as shown in Figure 1. Infill sampling will be completed down to a granularity of 200m x 100m.
Figure 1: Lightning Minerals - Dundas North tenure showing UFF+ lithium soil geochemistry results (as reported 01 May 2023) and planned areas of infill soil sampling as highlighted in yellow polygons on geophysical aeromagnetic analytic signal image.
Dundas South Infill Soil Sampling
Soil sampling will also be undertaken at the Dundas South project area following up zones of interest identified by the regional soil program. Grids of differing resolutions will be completed across tenements E63/2028, E63,1932, E15/1748 and E63/1993 down to a minimum of 200m x 200m. Targeting criteria in these areas focus mainly on existing results for lithium and its pathfinder elements identified during the reginal program (as reported in ASX Announcement 23 March 2023), but also aim to assess gold/nickel potential as the genetic models can share attributes regarding lithologies, geochemistry and rheology. The planned sites are shown on Figure 2 below, modifications may be undertaken in the field as guided by the supervising geologist.
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.
White Cliff Minerals Limited (ASX: WCN) – Trading Halt
Description
The securities of White Cliff Minerals Limited (‘WCN’) will be placed in trading halt at the request of WCN, pending it releasing an announcement. Unless ASX decides otherwise, the securities will remain in trading halt until the earlier of the commencement of normal trading on Wednesday, 9 October 2024 or when the announcement is released to the market.
Issued by
ASX Compliance
Click here for the full ASX Release
This article includes content from White Cliff Minerals Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Large Scale Copper Discovery Confirmed
Highest assays returned 64.02% Cu, 223g/t Ag and 2.34g/t Au. Multiple High-Grade Copper and Precious Metal Vein Systems Identified. Potential For Very Significant deposits of Sedimentary Hosted Copper
White Cliff Minerals Limited (“the Company”) is delighted to announce the first batch of assay results from rock chip samples taken during the 2024 maiden field program at the Rae Copper Project in Nunavut, Canada (“Rae” or “the Project”). Results confirm outcropping and high-grade copper and precious metals hosted in extensive massive chalcocite vein systems of significant lateral extent.
- Copper and silver assays received for three of the five exploration districts at Rae
- Representative rock samples from extensive outcropping massive chalcocite veins returned exceptional copper-silver ± gold and confirm what is now believed to be the first major discovery on the Company licence area
- The Vision District, a ±10km long NE/SW structural corridor which includes the Don and Pat project areas. Occurring within a “sub parallel, dilutional jog” that provided the necessary depositional environment for copper and precious metal accumulation. It is also possible, although yet to be proven, that these two project areas are contiguous, meaning the two localised ±km long zones of massive chalcocite may be one body up to ±5km in length. Recently flown geophysical surveys will confirm this either way
- At Don several parallel outcropping massive chalcocite veins running roughly NE/SW have been identified over an area of more than 2km2 and returned results of:
§64.02% Cu and 152g/tAg (4.88oz/t) | (F005965) |
§62.02% Cu and 162g/tAg (5.20oz/t) | (F005966) |
§50.48% Cu and 102g/tAg (3.28oz/t) | (F005959) |
§43.77% Cu and 109g/tAg (3.50oz/t) | (F005958) |
§39.68% Cu and 91g/t Ag (2.92oz/t) | (F005971) |
§39.10% Cu and 102g/tAg (3.28oz/t) | (F005964) |
§36.70% Cu and 223g/tAg (7.16oz/t) | (F005975) |
§9.57% Cu, 2.34g/t Au and 128g/tAg (4.12oz/t) | (F005974) |
- At Pat, ±4.4km along strike from DON & around 600m of visual outcrop, returned assays of:
§55.01% Cu and 37g/tAg | (F005977) |
§46.07% Cu and 46g/tAg | (F005984) |
§44.43% Cu and 32g/tAg | (F005979) |
§43.10% Cu and 44g/tAg | (F005985) |
§41.26% Cu and 34g/tAg | (F005978) |
§39.90% Cu and 34g/tAg | (F005986) |
- The Company’s primary focus, Hulk, a large scale sedimentary hosted copper target, is a 16x4km magnetic anomaly within the reactive basal sequence of the Rae Group sedimentary basin which has been identified coincident with extensive surface staining of malachite with one sample, F005987, returning 1.65% Cu. The identification of copper in this area provides geological proof for the first time that copper rich hydrothermal fluids have in fact permeated the sedimentary basin. This geological environment is considered a high priority for drilling
- Remaining assay results (41 samples) from the Thor and Rocket Districts are expected are over the coming weeks
- The Project saw the completion of one of Canada’s largest aerial geophysical survey’s covering 2,500 line-km of MobileMT geophysics, marking the first license scale survey completed in history at the Project with these results due during the December quarter
White Cliff’s Great Bear Lake Project potentially holds the mantle of the highest ever recorded representative Silver rock sample assay result of 7.54% Ag and now, the Rae Project can lay claim to the highest ever recorded representative Copper rock sample assay.
The results also demonstrate the deep plumbing, copper rich fluids & fertile nature of the host rocks of basal part of the Rae sedimentary sequence and provide longer-term opportunities for not just bulk tonne sedimentary hosted copper but potential for direct shipping of a high-grade copper concentrate using a mine and ship approach from these newly identified chalcocite veins.
In the next months the company expects to receive the MobileMT geophysical results which will sharpen the resolution of the previous groundwork, confirming drilling targets for the upcoming campaign, which will include the priority - Hulk, a very large, green at surface, 16km by 4km target within the reactive subsurface basal units (siltstones and mudstones) of the Rae Sedimentary Basin, this basin has been intersected by similar mineralising regional structures proven to be copper conduits including those seen at Vision.
These two projects are proving to be world class exploration opportunities. Rae and Great Bear are located in a tier one mining and investment jurisdiction, on the mainland, with significant infrastructure already in place.”
Troy Whittaker - Managing Director
“The team at WCN have built a solid foundation of high-quality projects through old school geological hard work. Results of this nature are rare and to have them repeated over some distance is very encouraging. I look forward to the upcoming work as we prepare for drilling.”
John Hancock - Strategic Advisor to the Board
Click here for the full ASX Release
This article includes content from White Cliff Minerals Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Dredging Begins at Lumsden Point, Hub to Focus on Battery Metals Exports
Dredging work as begun at the Lumsden Point project in Port Hedland, a major Australian import and export site. About 1 million cubic meters of material are set to be removed in the next eight weeks.
In a Monday (September 30) press release, Pilbara Ports said that the work has been made possible through AU$611.6 million in funding from the government, as well as companies in the mining industry.
The Australian government is contributing AU$450 million, with the money going toward new multi-user facilities and berths, and the Western Australian government is putting in AU$96.6 million.
Commodities giant BHP (ASX:BHP,NYSE:BHP,LSE:BHP), Fortescue (ASX:FMG,OTCQX:FSUMF), Roy Hill and a joint venture between Hancock Prospecting and Mineral Resources (ASX:MIN,OTC Pink:MALRF) have committed AU$65 million.
Once up and running, Lumsden Point will be used to export battery materials like lithium and copper concentrates, and to import renewable energy infrastructure such as wind turbines and blades.
David Michael, Western Australia's minister for ports, said in Monday's release that the project is expected to boost Australia's gross domestic product by AU$2.1 billion per annum upon completion.
“It is expected to save 3.6 million tonnes of emissions by 2055 by supporting direct shipping to the Pilbara and providing a pathway for renewable energy infrastructure," he explained.
Lumsden Point will provide support for federal government initiatives like the Critical Minerals Strategy 2022, and the Boosting Australia’s Diesel Storage Program. In addition, it will underpin initiatives from the Western Australian government, including the state's Climate Policy and its Renewable Hydrogen Strategy.
The project is expected to drive employment and economic growth in the region.
Jan De Nul (Australia) was given the contract for dredging and land reclamation activities at Lumsden Point on June 7.
Extensive preparatory works for the project have already been completed, and environmental monitoring is being carried out to minimise the risk of impact to surrounding habitats.
Lumsden Point also has an approved environmental management plan, which states that dredged material “will be disposed of at a designated reclamation area within Lumsden.”
Don’t forget to follow us @INN_Australia for real-time news updates!
Securities Disclosure: I, Gabrielle de la Cruz, hold no direct investment interest in any company mentioned in this article.
White Cliff Minerals Limited (ASX: WCN) – Trading Halt
Description
The securities of White Cliff Minerals Limited (‘WCN’) will be placed in trading halt at the request of WCN, pending it releasing an announcement. Unless ASX decides otherwise, the securities will remain in trading halt until the earlier of the commencement of normal trading on Monday, 7 October 2024 or when the announcement is released to the market.
Issued by
ASX Compliance
Click here for the full ASX Release
This article includes content from White Cliff Minerals Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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