VIDEO: Lithium Universe Limited  CEO Alex Hanly Discusses the Becancour Lithium Refinery PFS

VIDEO: Lithium Universe Limited CEO Alex Hanly Discusses the Becancour Lithium Refinery PFS

Brisbane, Australia (ABN Newswire) - The Lithium Universe Ltd (ASX:LU7) (FRA:KU00) (OTCMKTS:LUVSF) strategy emphasizes developing a robust lithium refinery project in Becancour, designed to be viable even in low-price environments and ready to capitalize on price recovery. LU7 aims to close the lithium conversion gap by focusing on both resource development and end-market projects. The financial model demonstrates strong economic viability with a pre-tax NPV8% of US$779M, an IRR of 23.5%, and a payback period of 3.5 years, based on a lithium carbonate price of US$20,970/t and spodumene at US$1,170/t. The project has an expected annual revenue of US$383M and an EBITDA of US$147M, with a break-even lithium carbonate price of US$14,000/t.

LU7 plans to address global lithium conversion challenges by using proven Jiangsu Refinery technology, with a plant designed to produce 18,270 tonnes/year of battery-grade lithium carbonate. The design focuses on smaller, easier-to-operate facilities. The plant is strategically located in Quebec, which offers cost benefits like green energy and proximity to major lithium markets in North America. Powered by Hydro Quebec, the project aims for a 95% reduction in greenhouse gas emissions.

To Watch the Video, please visit:
https://www.abnnewswire.net/lnk/575S0398



About Lithium Universe Ltd:  

Lithium Universe Ltd (ASX:LU7) (FRA:KU00) (OTCMKTS:LUVSF), headed by industry trail blazer, Iggy Tan, and the Lithium Universe team has a proven track record of fast-tracking lithium projects, demonstrated by the successful development of the Mt Cattlin spodumene project for Galaxy Resources Limited.

Instead of exploring for the sake of exploration, Lithium Universe's mission is to quickly obtain a resource and construct a spodumene-producing mine in Quebec, Canada. Unlike many other Lithium exploration companies, Lithium Universe possesses the essential expertise and skills to develop and construct profitable projects.



Source:
Lithium Universe Ltd



Contact:
Alex Hanly
Chief Executive Officer
Lithium Universe Limited
Tel: +61 448 418 725
Email: info@lithiumuniverse.com

Iggy Tan
Chairman
Lithium Universe Limited
Email: info@lithiumuniverse.com

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Lithium Universe Ltd  Becancour Lithium Refinery - Preliminary Feasibility Study

Lithium Universe Ltd Becancour Lithium Refinery - Preliminary Feasibility Study

Melbourne, Australia (ABN Newswire) - Lithium Universe Limited (ASX:LU7) (FRA:KU00) (OTCMKTS:LUVSF) is pleased to announce the results of its Preliminary Feasibility Study( PFS) for the Becancour Lithium Carbonate Refinery in Quebec, Canada. The PFS confirms the viability of a strong lithium conversion project, even within a below-average pricing environment.

Highlights

The Lithium Universe Strategy

- Positive, robust Becancour Refinery PFS even in low pricing environment

- LU7 has a counter cyclical strategy - develop project, ready for price recovery

- Closing the Lithium Conversion Gap - growth in resource and end market projects

The Financial Modelling

- Economically viable with excellent pre-tax NPV8% of approximately US$779M

- IRR (pre-tax) of approximately 23.5% and payback of 3.5 years based on;

- Price forecast of US$1,170/t SC6 and US$20,970/t for battery grade Li2CO3

- Current spot price is approx. US$775/t SC6 and US$10,680/t for battery grade LC

- Operating costs at around US$3,976/tonne; capital cost estimate of US$494 million

- Expected annual revenue of approx US$383 million and EBITDA of around US$147 million

- Project break even at around US$780 /t (SC6) and around US$14,000 per tonne LC

The Design

- LU7 offers a solution to worldwide lithium conversion failures and startup problems

- Using proven Jiangsu Refinery operating technology and lithium industry experience

- Producing up to 18,270 tonnes/year of green battery-grade lithium carbonate

- Smaller off-the-shelf style plant rather than large difficult-to-operate facilities

- Initial focus on lithium carbonate production - feed for LFP batteries

- Assumptions based on real operating data and experience - not new aspirant

The Location

- Quebec ideal trans-Atlantic lithium conversion centre, comparable to China

- Feedstock from Canada, Brazil and Africa - end market North America

- Critical cost benefits - cheap green power, transport mine/end market savings, US/Canada tariffs

- 95% GHG emission reduction with Hydro Quebec's green energy

Next Steps

- Offtake discussions with interested OEMs underway

- LU7 continues to progress full Definitive Feasibility Study

The Company plans to build a reliable, low-risk lithium conversion refinery with an annual capacity of up to 18,270 tonnes, utilizing proven expertise from the Jiangsu processing model. The facility will produce environmentally friendly, battery-grade lithium carbonate. The Company aims to establish a Canadianbased lithium chemicals business, purchasing spodumene feedstock from both domestic suppliers and international markets, including Brazil and Africa and producing a battery grade lithium carbonate product. This aligns with the Company's broader vision of contributing to the North Atlantic lithium supply chain and closing the Lithium Conversion Gap.

The project's economics are highly favourable, even with conservative price assumptions. The refinery is economically viable with a pre-tax Net Present Value (NPV) of approximately US$779 million, using an 8% discount rate, and a pre-tax Internal Rate of Return (IRR) of around 23.5%. The payback period is estimated at 3.5 years. The financial model is built on cautious price forecasts of US$1,170 per tonne for spodumene concentrate (SC6) and US$20,970 per tonne for battery-grade lithium carbonate equivalent (LCE). LU7's directors believe they have a reasonable basis for using the assumed price in the study of US$20,970 per tonne for battery grade lithium carbonate. Key operational assumptions include 86% plant availability and 88% lithium recovery. At full production capacity, the project is expected to generate approximately US$383 million in annual revenue, with costs totalling around US$236 million, leading to an annual EBITDA of approximately US$147 million and a gross margin of in the region of 38%. Post-tax, the NPV at an 8% discount rate is estimated at approximately US$501 million. The capital cost for the project is estimated at US$494 million, which includes a contingency of US$68 million. The capital cost estimate is based on advanced design specifications from the Jiangsu Lithium Refinery model, ensuring robust financial planning and projection. These factors highlight the project's strong financial viability, even under conservative pricing conditions.

MANAGEMENT COMMENT

Lithium Universe Chairman, Iggy Tan said "The successful completion of our Preliminary Feasibility Study is a significant milestone for the company, especially given that we only launched in August of last year. Early on, we recognized that bridging the lithium conversion gap in North America, leveraging our accumulated lithium expertise and the proven technology from Jiangsu, was a clear and strategic path forward."

"Our counter-cyclical strategy is centered on advancing projects during market downturns, allowing us to strategically position ourselves for growth as the market rebounds. We are dedicated to funding and constructing a proven, low-risk lithium conversion refinery in Quebec, marking the first step toward establishing Quebec as the lithium conversion hub for the Transatlantic region."

"The strong NPV and returns for the project indicate an economically viable project. We will be looking to secure strategic partners at the project level to help fund the project. There is significant interest from OEMs with spodumene offtake supply seeking conversion outside of China, and discussions are already underway. We are confident that the Becancour lithium refinery, with an annual capacity of 18,270 tonnes, will emerge as a leader in producing green, battery-grade lithium carbonate."

"The Company will advance quickly to complete a Definitive Feasibility Study and finalise offtake partnerships".

COUNTER CYCLICAL STRATEGY

Leveraging experience with cyclical movements in the lithium market, Lithium Universe utilizes a counter-cyclical strategy focused on developing projects during market downturns to strategically position itself as the market recovers. Although the recent oversupply of lithium has resulted in price declines, the Company remains confident in the strong long-term demand for lithium, driven by the growing electric vehicle (EV) and energy storage sectors. This ongoing demand underscores the need for continued investment in lithium mining and refining projects. LU7 believes that the current market conditions provide an optimal window for project development. With falling and depressed prices, less viable projects and weaker players have been cleared out of the market, leaving space for more robust and well-prepared companies. By advancing its Becancour Lithium Carbonate Refinery during this downturn, LU7 aims to be ready for a price recovery and capitalize on future growth, ensuring its plac in the evolving lithium market.

Over the past four years, lithium prices have experienced significant fluctuations due to the expanding electric vehicle (EV) market and increased demand for energy storage. From 2020 to early 2022, prices surged as supply struggled to keep pace with demand driven by the global shift towards cleaner energy. By 2022, lithium carbonate and hydroxide prices had risen over 400%, influenced by COVID-19-related supply disruptions. As of late 2023, prices have begun to stabilize due to new mining and refining projects. Although recent oversupply has led to price declines, long-term demand for lithium remains strong, necessitating continued investment in mining and refining.

The lithium market is currently undergoing a rebalancing phase due to oversupply and strategic production shutdowns by major producers. Companies and operations such as Core Lithium, Greenbushes JV, Mineral Resources, Albemarle's Kemerton and more recently, CATL's Yichun mine and Arcadium's Mt Cattlin have either slowed production or halted operations in response to recent price drops. Despite these supply adjustments, demand for lithium remains robust, particularly from growing EV sales in China. LU7 believes that prices are expected to recover to more sustainable levels over the next 12-18 months, although not reaching the unsustainable peaks of 2021-2022. This market rebalancing is essential for the sustainability of future lithium projects and the overall market. LU7's counter-cyclical strategy means developing a project during market downturns to benefit when the market recovers.

CLOSING THE LITHIUM CONVERSION GAP

Currently, over 90% of global LFP battery manufacturing is concentrated in China, but North America is rapidly expanding its capacity. Ford plans to build a $3.5 billion factory in Michigan with an annual capacity of 35 gigawatt-hours (GWh) by 2026, while Tesla is developing a facility in Nevada with a 10 GWh capacity focused on improving charging speed and energy density. LG Energy Solutions is investing $5.6 billion in Arizona to produce LFPs for energy storage systems and EVs.

By 2028, North America is expected to add nearly 1,000 GWh of battery manufacturing capacity, supporting the production of 10 to 13 million electric vehicles annually. Key states like Georgia, Kentucky, and Michigan will lead this growth. Canada is also investing in the sector, with partnerships from Volkswagen, Stellantis, and others, helping to secure its position in the global automotive market and meet the rising demand for EVs.

The Company estimates that 850,000t of LCE per annum will be required to satisfy demand in North America by 2028.

*To view the full details of the announcement, please visit:
https://abnnewswire.net/lnk/WY641GJW



About Lithium Universe Ltd:  

Lithium Universe Ltd (ASX:LU7) (FRA:KU00) (OTCMKTS:LUVSF), headed by industry trail blazer, Iggy Tan, and the Lithium Universe team has a proven track record of fast-tracking lithium projects, demonstrated by the successful development of the Mt Cattlin spodumene project for Galaxy Resources Limited.

Instead of exploring for the sake of exploration, Lithium Universe's mission is to quickly obtain a resource and construct a spodumene-producing mine in Quebec, Canada. Unlike many other Lithium exploration companies, Lithium Universe possesses the essential expertise and skills to develop and construct profitable projects.



Source:
Lithium Universe Ltd

News Provided by ABN Newswire via QuoteMedia

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Lithium Universe Limited  Forms Committee with W8BANAKI

Lithium Universe Limited Forms Committee with W8BANAKI

Perth, Australia (ABN Newswire) - Lithium Universe Limited (ASX:LU7) (FRA:KU00) (OTCMKTS:LUVSF) is pleased to announce the forming of a joint committee and collaboration with the Tribal Council representing the Abenaki Council of Odanak and the Abenaki Council of Wolinak (W8banaki). This initiative aims to foster ongoing information exchange and mutual understanding, maintaining a strong relationship based on dialogue, collaboration, transparency, and respect.

- Formation of committee with W8banaki to progress Becancour Lithium Refinery

- Collaboration with W8banaki to assist with site impact assessment

- W8banaki Nation traditional land custodians of Becancour Industrial Park

- W8banaki representatives hold significant understanding of battery supply chain

- W8banaki hold years of experience collaborating with chemicals industry

- LU7 committed to a collaborative and respectful relationship

Proud of their cultural and linguistic heritage, the W8banakiak occupied vast forested areas in what is now southern Quebec, Maine, New Hampshire and Vermont, as well as parts of Massachusetts and New Brunswick, before the arrival of Europeans. The name W8banaki is a combination of the words "W8ban" (light, or dawn) and "Aki" (land), meaning "People of the Dawn". Still present and active on its ancestral territory, the population of the W8banaki Nation currently numbers more than 3,000 individuals, who are distributed mainly in Quebec and Canada, as well as in the United States. The W8banaki are the traditional land owners of the Becancour Waterfront Industrial Park (BWIP) and therefore also the Company's intended site for the proposed Becancour Lithium Refinery.

The Company's Site is strategically situated in Becancour, just south of Trois-Rivieres, and is optimally positioned between Montreal and Quebec City. Specifically, the site is located on Lot 22 within the BWIP with an area estimated to be 276,423 square metres. Positioned near a major highway, the site seamlessly connects to the extensive North American highway network. Additionally, the facility benefits from daily service by the Canadian National Railway (CN), enabling cross-continental transportation from east to west and north to south, linking key ports on the Atlantic and Pacific coasts. The Port of Becancour, operational all year-round, boasts a water depth of 10.67 meters, accommodating vessels of varying sizes and 50,000 tonne shipment capacity.

Establishment of Joint Committee

The Company and the W8banaki Nation will form a Joint Committee which will provide a structured framework for discussions about the Company's project at Becancour. This framework is designed to support mutually beneficial relations and ensure that both parties are fully informed and engaged in the process. The Committee, comprising 2 representatives from each party, will serve as the primary forum for communication, manage project schedules, ensure culturally safe collaboration, and oversee compliance. The committee will seek to identify opportunities for further involvement of the community within the Company's project and coordinate impact analyses, and adopt joint emergency and safety plans.

Collaboration on Impact Analysis

As part of the environmental assessment process, the Company recognizes that its project will impact the Ndakina and may affect the Rights and Interests of the W8banakiak. To address these impacts, both parties will work together to identify and implement measures to accommodate them, ensuring their effectiveness through continuous monitoring. W8banakiak will actively participate in the environmental assessment process, contributing to the development of an Impact Analysis. This analysis will support the comprehensive impact study that the Company is required to prepare, taking into account the historical and current occupation of the land by W8banakiak.

Lithium Universe Limited is committed to encouraging a collaborative and respectful relationship with W8banakiak, ensuring that all concerns are addressed and that the project proceeds with the highest consideration for environmental and cultural impacts.

Lithium Universe Chairman, Iggy Tan said, "it has been a pleasure to get to know the W8banaki representatives over the past few months. The W8banaki representatives are a very practical group who have a deep understanding of the battery supply chain having extensive experience managing similar committees and impact assessment studies for our battery-focussed neighbours in the Becancour Industrial Park. The W8banakiak are a key stakeholder for our Becancour Lithium Refinery and we look forward to learning more about the Nation in the coming years while building this critical project alongside the community."

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/UPEJ081Z



About Lithium Universe Ltd:  

Lithium Universe Ltd (ASX:LU7) (FRA:KU00) (OTCMKTS:LUVSF), headed by industry trail blazer, Iggy Tan, and the Lithium Universe team has a proven track record of fast-tracking lithium projects, demonstrated by the successful development of the Mt Cattlin spodumene project for Galaxy Resources Limited.

Instead of exploring for the sake of exploration, Lithium Universe's mission is to quickly obtain a resource and construct a spodumene-producing mine in Quebec, Canada. Unlike many other Lithium exploration companies, Lithium Universe possesses the essential expertise and skills to develop and construct profitable projects.



Source:
Lithium Universe Ltd

News Provided by ABN Newswire via QuoteMedia

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Lithium Universe Ltd  Finalises Frankfurt and US OTC Listing

Lithium Universe Ltd Finalises Frankfurt and US OTC Listing

Melbourne, Australia (ABN Newswire) - Lithium Universe Limited (ASX:LU7) (FRA:KU00) (OTCMKTS:LUVSF) is pleased to announce it has been officially quoted on the Frankfurt Stock Exchange (FRA) and US-based OTC Markets Group platform (OTC), allowing its securities to be readily accessed by European and North American investors.

The Company is quoted under (FRA:KU00). The Frankfurt Stock Exchange (FRA), also known as the Borse Frankfurt, is one of the world's largest and most efficient trading centers for securities playing a critical role in the European and global economy. Operated by Deutsche Borse AG, the exchange, known for its high transparency, robust regulatory standards, and advanced trading technology serves as a hub for international investors and companies.

The Company is quoted under (OTCMKTS:LUVSF). OTC Markets Group operates the largest trading platform in North America for over-the-counter (OTC) securities, providing transparent and efficient marketplaces for a diverse range of US and international companies. The group offers three market tiers: OTCQX, OTCQB, and Pink, catering to companies at various stages of growth and compliance levels.

Both quotations will expand our access to capital markets, enhancing our ability to raise funds from a more diverse investor base. It may also facilitate trading of our shares in local currencies and during local market hours, increasing liquidity and investor participation. This initiative is a key part of our growth strategy, aimed at fostering long-term value for our shareholders and strengthening our presence in international markets.

Lithium Universe Chairman, Iggy Tan said, "The Company is pleased to announce the diversification of our investor base as we accelerate the development of the Becancour Lithium Refinery in Quebec. This initiative provides access to sophisticated European and North American investors, supporting our efforts to advance our unique strategy."



About Lithium Universe Ltd:  

Lithium Universe Ltd (ASX:LU7) (FRA:KU00) (OTCMKTS:LUVSF), headed by industry trail blazer, Iggy Tan, and the Lithium Universe team has a proven track record of fast-tracking lithium projects, demonstrated by the successful development of the Mt Cattlin spodumene project for Galaxy Resources Limited.

Instead of exploring for the sake of exploration, Lithium Universe's mission is to quickly obtain a resource and construct a spodumene-producing mine in Quebec, Canada. Unlike many other Lithium exploration companies, Lithium Universe possesses the essential expertise and skills to develop and construct profitable projects.

About OTC Markets Group Inc.:  

OTC Markets Group Inc. (OTCQX:OTCM) operates a financial marketplace for 10,000 United States and global securities through the broker of their choice. Through its OTC Link ATS, the Company directly link a diverse network of broker-dealers that provide liquidity and execution services for a spectrum of securities. the Company organizes these securities into three marketplaces to inform investors of opportunities and risks: OTCQX, the best marketplace with qualified companies; OTCQB, the venture stage marketplace with the United States reporting Companies; and OTC Pink, the open marketplace with variable Reporting companies. The OTCQX marketplace offers the informed and trading for the United States and global companies. The OTCQB marketplace offers informed trading for securities of smaller or developing companies that are reporting to a United States regulator (SEC, Bank, or Insurance). The OTC Pink marketplace offers trading in a spectrum of equity securities through any broker.

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VIDEO: Lithium Universe Limited  Alex Hanly CEO Interview - Becancour Refinery Project

VIDEO: Lithium Universe Limited Alex Hanly CEO Interview - Becancour Refinery Project

Melbourne, Australia (ABN Newswire) - In this interview, Lithium Universe Limited (ASX:LU7) CEO Alex Hanly talks about the company's business strategy, government engagement and fieldwork around the Becancour Lithium Refinery Project.

The project is advancing well and remains on track. Key milestones include finalizing the plant layout, issuing technical specifications for capex estimation, and progressing with supplier quotation activities. Environmental site visits and studies are ongoing, with no significant issues identified. Hatch's transition from Brisbane to Montreal offices is smoothly underway, ensuring continuity in project management. Early contractor engagement and strategic risk assignment are mitigating potential delays. Overall, the project is adhering to its timeline, with significant progress in engineering and procurement, ensuring readiness for a capital cost estimate and commitment to ensure environmental compliance with the regulatory framework.

To Watch the Video Interview, please visit:
https://www.abnnewswire.net/lnk/05GX0H86



About Lithium Universe Ltd:  

Lithium Universe Ltd (ASX:LU7) (OTCMKTS:ESMAF), headed by industry trail blazer, Iggy Tan, and the Lithium Universe team has a proven track record of fast-tracking lithium projects, demonstrated by the successful development of the Mt Cattlin spodumene project for Galaxy Resources Limited.

Instead of exploring for the sake of exploration, Lithium Universe's mission is to quickly obtain a resource and construct a spodumene-producing mine in Quebec, Canada. Unlike many other Lithium exploration companies, Lithium Universe possesses the essential expertise and skills to develop and construct profitable projects.



Source:
Lithium Universe Ltd

News Provided by ABN Newswire via QuoteMedia

Keep reading...Show less
Lithium Universe Ltd  Becancour Lithium Refinery Project Update

Lithium Universe Ltd Becancour Lithium Refinery Project Update

Melbourne, Australia (ABN Newswire) - Lithium Universe Limited (ASX:LU7) (OTCMKTS:ESMAF) is pleased to announce a project update of the Becancour Lithium Refinery Project. The project is advancing well and remains on track. Key milestones include finalizing the plant layout, issuing technical specifications for capex estimation, and progressing with supplier quotation activities. Environmental site visits and studies are ongoing, with no significant issues identified. Hatch's transition from Brisbane to Montreal offices is smoothly underway, ensuring continuity in project management. Early contractor engagement and strategic risk assignment are mitigating potential delays. Overall, the project is adhering to its timeline, with significant progress in engineering and procurement, ensuring readiness for a capital cost estimate and commitment to ensure environmental compliance with the regulatory framework.

Highlights

- Project is advancing well and remains on track

- Engineering milestones include plant layout, equipment packages, datasheets, scopes of work, and specifications

- Procurement priority one packages for quotes about 60% complete

- Early contractor engagement and strategic risk assignment

- Environmental work is progressing with no show-stoppers identified to date

- Strong engagement from Federal, Provincial and Local Government

- Becancour Lithium Refinery well aligned with Provincial strategy

- Mature local government support and project understanding

Procurement

Procurement activities include sending technical specifications to suppliers for detailed quotations to build the capex estimation. For priority one mechanical equipment, nine packages have been issued, with seven offers received and evaluations currently underway. Five priority one electrical equipment supply packages will be issued for inquiry within the next week. The goal is to evaluate all priority one packages by the end of September.

Due to potential lead times for electrical transformers, the tenderer list will be expanded to reduce these lead times.

Engineering

The major engineering activities include finalizing the plant layout and preparing documentation for equipment packages, such as datasheets, scopes of work, and specifications. Key tasks also involve creating the main power distribution single line diagram and providing clarifications during the tender period. Additionally, proposals received are being thoroughly reviewed to ensure they meet project requirements. Effective handling of process effluent and site runoff is another critical focus area. The development of the package register, material take-offs (MTOs), and comprehensive equipment lists are ongoing, ensuring all necessary components and details are accurately documented and organized for the project's successful execution.

Plant Layout

The first release of the plant layout has been published, with several features still under development. These include new plant areas such as the boiler plant and process effluent treatment. Structural framing of buildings and HVAC systems are in progress, along with civil works encompassing drainage, road pavements, vehicle paths, sedimentation ponds, and car parking. The location and number of plant switch rooms is being optimised.

Efforts are being made to enhance spodumene and residue storage, focusing on materials handling and capacity. Additionally, the routing of major pipe and cable racks is being planned. The layout on-site is being designed with consideration of likely environmental constraints to ensure compliance and sustainability. These developments aim to enhance the overall efficiency and effectiveness of the project.

Environmental Work

The team is actively involved in field inventories to develop knowledge of the biodiversity present on site. Four field campaigns have been carried-out to survey the presence of short-eared owls, breeding birds, fish and fish habitat, and wetlands. Based on preliminary results, no species at risk nor species of concern as listed under the Canadian Species at Risk Act (SARA) have been identified so far. The project team is also engaged in activities to optimize the site layout and reduce encroachment on wetlands identified on the property. Surveys are expected to be completed during the Canadian Summer. Field inventory results will be used to support environmental permitting activities and discussions with the Regulators to ensure site layout and the design of the industrial facility are developed in full compliance with the environmental regulatory framework.

A Phase I study to understand previous uses of the site is progressing and no potential environmental liability has been identified based on preliminary results. The Phase I Study is expected to be completed by the end of July. Over the coming months, the team is expected to initiate the preparation of permitting documents to ensure the Project follows formal approval lines.

Priorities

The highest priorities for the next few months include finalising the environmental permitting and approvals program, which entails completing the initial field survey, briefing with the Ministry, finalising the Phase 1 Report, and preparing the first application. Engineering work necessary for the environmental permit application is also a top priority, focusing on civil design, updated plant layout, and water management strategy. In parallel, equipment procurement will involve preliminary engineering, securing vendor proposals, and establishing schedules. Confirming the treatment of process effluent and site runoff is crucial for environmental compliance.

Additionally, commencing civil and structural engineering work is essential to maintain project momentum.

Finalising the plant layout will ensure all components are correctly positioned and integrated. Lastly, execution phase planning will be progressed, contingent on the monthly budget, to ensure that all activities are appropriately funded and scheduled for efficient project advancement.

Government and Community Engagement

A trip by key leadership members to Eastern Canada. The delegation, led by CEO Alex Hanly and including Chairman Iggy Tan, Board Directors Patrick Scallan and Dr. Jingyuan Liu, and Canadian Director, Victoria Vargas, engaged with government stakeholders, community partners, and industry peers. The meetings in Montreal, Becancour, Quebec City, and Ottawa reinforced the Company's strategy to address the Lithium Conversion Gap in North America and provided updates on our engineering progress and commercial discussions.

Ministry of Economics, Innovation, and Energy

A meeting was held in Quebec City with the Honourable Minister Pierre Fitzgibbon, Minister of Economics, Innovation, and Energy. This follows the Company's initial presentation of the Company's unique strategy in November 2023 in Dubai. Once again, Minister Fitzgibbon expressed enthusiasm for our engineering progress, the acquisition of the Option agreement within the Becancour Industrial Park, and the Hydro-Quebec application for an estimated 22.5MW energy allocation for our Becancour Lithium Refinery.

Lithium Universe emphasized Quebec's strategic benefits, including hydroelectric power, proximity to the James Bay region, and logistic advantages with port access to the transatlantic region. The Minister reiterated his support for our vision of transforming Quebec into the Centre of Lithium Conversion for the transatlantic region.

The Company is impressed with the forward-thinking provincial government of Quebec and the progress of the Strategic Innovation Zone under the pragmatic guidance of Minister Fitzgibbon.

Becancour Lithium Refinery Site

In February 2024, the Company successfully executed an option agreement to acquire a refinery site strategically located within the Becancour Waterfront Industrial Park (BWIP). The site in Becancour, close to Trois-Rivieres, lies between Montreal and Quebec City and is near major highways and railways. The Port of Becancour supports year-round operations with deep-water access. The site offers low-cost hydroelectric power, robust infrastructure, and comprehensive water and waste facilities, ideal for the proposed Lithium Refinery.

The Company once again met with key executives from the BWIP in Becancour. The meeting focused on the Company's progress in site evaluation activities and included a presentation on the process design, featuring pictures from a reference lithium carbonate refinery. The port was confirmed to have the capacity to manage 50,000-ton bulk shipments, exceeding the Company's initial requirements. The Company had the opportunity to inspect Lot 22, encompassing an area of 27-hectare, and view the proximity to infrastructure and immediate tiein to existing BWIP utilities. The SPIPB team provided an overview of planned expansions and facility upgrades to the onsite infrastructure, positioning Becancour as a leader in offering prime industrial real estate in Quebec.

The Company will be looking to commence various community initiatives to integrate the industrial site into the wider community.

Municipality of Becancour

The Company met with the Mayoress of Becancour to discuss the Company's objectives to contribute to the local economy by providing hundreds of employment opportunities and helping to realize its economic potential.

LU7 reaffirmed its commitment to the Becancour and wider Trois-Rivieres region, pledging to support various social, community, and environmental initiatives in the coming years. The Mayoress expressed enthusiasm for the Company's plans within the SPIPB, recognizing the development of a proven and reliable design with internationally aligned process outputs.

Provincial Government - Quebec

The Company also met with key delegates in Montreal from Investissement Quebec (IQ), the Ministry of Natural Resources and Forests (MRNF), Energy Transition Valley Innovation Zone, and the Ministry of the Environment, the Fight Against Climate Change, Wildlife and Parks. The provincial government has identified a lithium conversion gap within the supply chain, crucial for servicing the expected increase in spodumene supply from the James Bay region in the coming years. Quebec is a North American leader in attracting foreign direct investment, sustainable development, and supporting battery metals projects. The province has a strong history of supporting lithium battery supply chain development, with significant provincial and federal government incentives.

Recent government support includes the General Motors (GM) and Korea-based POSCO Chemicals' US$1 billion cathode active material (CAM) factory, the Ford/EcoPro BM US$800 million cathode factory, and Northvolt's US$7 billion EV Battery Facility at Saint-Basile-le-Grand. This creates a favourable regulatory environment for the Company's project, ensuring robust support throughout the cycle.

Canadian Federal Government - Ottawa

The Company met with various federal government stakeholders from Invest in Canada (IIC), Natural Resources Canada (NRCAN), Innovation, Science and Economic Development (ISED), and Export Development Canada (EDC). Given the lack of refining capacity in Canada, LU7's lithium carbonate plant is an innovative project, as there are no current operating or planned facilities of this kind within the country. Building lithium conversion capacity alongside spodumene mines will enable Canada to become wholly self-sufficient in the lithium chemical supply chain.

Hatch - Montreal

The Company and its engineering partner, Hatch, held a productive meeting at the Montreal office to align their shared culture and fast-track development vision. They reinforced the philosophy of "same process, same equipment, same supplier," which minimizes technical risks, ensures quality, and reduces costs. The operational environments in Australia and Canada share many similarities, facilitating the integration of skills into Quebec.

Hatch's leadership in building lithium conversion facilities and tackling challenging projects validates the decision to partner with them. Through this collaboration, the Company acknowledges Hatch's expertise as the premier lithium refinery engineering expert.

Lithium Universe Chairman, Iggy Tan said, "The project is on track, finalizing plant layout, issuing capex specs, progressing supplier quotes, with smooth office transition, and no environmental issues, ensuring readiness for capex cost estimate. The reception from federal, provincial and local government delegates has left a very positive impression on the LU7 Board of Directors. The region has made strong commitments since releasing the Critical Minerals Strategies four years ago and we have seen that in the significant investments made within the battery supply chain and pragmatic discussions held with key government executives. We look forward to advancing the Company's Becancour Lithium Refinery to contribute in making Quebec the lithium conversion centre within the Transatlantic region."

*To view tables and figures, please visit:
https://abnnewswire.net/lnk/82C8D877



About Lithium Universe Ltd:  

Lithium Universe Ltd (ASX:LU7) (OTCMKTS:ESMAF), headed by industry trail blazer, Iggy Tan, and the Lithium Universe team has a proven track record of fast-tracking lithium projects, demonstrated by the successful development of the Mt Cattlin spodumene project for Galaxy Resources Limited.

Instead of exploring for the sake of exploration, Lithium Universe's mission is to quickly obtain a resource and construct a spodumene-producing mine in Quebec, Canada. Unlike many other Lithium exploration companies, Lithium Universe possesses the essential expertise and skills to develop and construct profitable projects.



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Lithium Universe Ltd

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SAGA Metals Completes Field Program at Double Mer Uranium Project, Identifying High-Priority Zones for Expansion

SAGA Metals Completes Field Program at Double Mer Uranium Project, Identifying High-Priority Zones for Expansion

Saga Metals Corp. (" TSXV: SAGA ") (" FSE: 20H" ) (" SAGA " or the " Company "), a North American exploration company focused on discovering critical minerals, is pleased to announce the completion of its maiden field program at the Double Mer Uranium Project in Labrador, Canada. This successful field season marks a significant step forward in SAGA's efforts to unlock the Double Mer Uranium project's potential for uranium mineralization.

Strategic Location with Historical Exploration Work

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Brunswick Exploration Continues to Extend MR-6 and Discovers New Spodumene Bearing Dykes at Mirage Project

Brunswick Exploration Continues to Extend MR-6 and Discovers New Spodumene Bearing Dykes at Mirage Project

Brunswick Exploration Inc. (TSX-V: BRW, OTCQB: BRWXF; FRANKFURT:1XQ; " BRW " or the " Company ") is pleased to report the first set of results from the Mirage summer drilling campaign. The Mirage Project is located in the Eeyou Istchee-James Bay region of Quebec, approximately 40 kilometres south of the Trans-Taiga Road. This drilling program concluded with a total of 23 drill holes for 4,871 meters. Since the beginning of 2024, BRW has drilled approximately 12,000 meters to discover, delineate and expand the spodumene bearing pegmatites dykes at Mirage.

This campaign focused on the Central Zone, including the MR-6 and MR-3 dykes (see June 4, 2024 press release), and has continued to intersect wide and well mineralized intervals on their extension and at depth.

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Fortune Minerals Retains Worley to Update the NICO Project Feasibility Study and Alberta Site Permitting

Fortune Minerals Retains Worley to Update the NICO Project Feasibility Study and Alberta Site Permitting

NICO Project development advancing with U.S. and Canadian Government financial support

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Albemarle Announces New Operating Structure to Increase Agility, Drive Cost Efficiencies and Maintain Long-Term Competitiveness

Albemarle Announces New Operating Structure to Increase Agility, Drive Cost Efficiencies and Maintain Long-Term Competitiveness

Decision marks next step in comprehensive review of cost and operating structure

Albemarle Corporation (NYSE: ALB), a global leader in providing essential elements for mobility, energy, connectivity and health, today announced the company's new operating structure to adapt to dynamic market conditions.

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SAGA Metals Completes Field Program at North Wind Iron Ore Project and Lists on Frankfurt Stock Exchange

SAGA Metals Completes Field Program at North Wind Iron Ore Project and Lists on Frankfurt Stock Exchange

Saga Metals Corp. (" TSXV: SAGA ") (" FSE: 20H" ) (" SAGA " or the " Company "), a North American exploration company focused on discovering critical minerals in Canada, is pleased to announce that SAGA's exploration team has completed an initial field program at the North Wind Iron Ore project located in west central Labrador.

SAGA's North Wind Iron Ore Project:

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Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Raja Step-Out Drilling Returns Multiple Significant Intercepts

Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Raja Step-Out Drilling Returns Multiple Significant Intercepts

Mawson Finland Limited ("Mawson" or the "Company") (TSXV:MFL) is pleased to announce new drill results from 10 drillholes at the Raja and Joki zones of mineralization which were drilled as part of the Company's 38-hole 2024 winter drilling campaign on the Company's wholly-owned Rajapalot gold-cobalt project in Finland (see Table 1 and Figure 1 in Schedule "A" hereto

Highlights:

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