GCICleanTech Lithium highlights progress at Laguna Verde in interim results
There was £2.1 million cash in the bank as at June 30th.
During the period the company has made significant progress with the pre-feasibility study for Laguna Verde.
A five-well resource drilling programme was commenced, aiming to produce a maiden reserves estimate.
There were also encouraging results from the direct lithium extraction (DLE) pilot plant in Chile, which will produce battery-grade lithium carbonate for potential strategic partners to evaluate. The company is also pursuing a dual listing on the Australian Stock Exchange and aims to be trading on the ASX in the fourth quarter of 2024.
Post the period end, the Chilean government announced an update prioritising six salt flats for lithium development, including Laguna Verde.
"The first half of 2024 has seen significant operational and strategic progress on our lithium projects in Chile,” said Steve Kesler, executive chairman of CleanTech Lithium.
“This includes the production of high quality lithium chloride eluate with low impurities from our DLE pilot plant, which has a capacity to produce one tonne per month of lithium carbonate equivalent. A drilling, pump testing and reinjection programme was started at Laguna Verde aimed at updating the JORC resource estimate, providing data for the PFS and developing of a maiden reserve estimate.”
View from Vox
The direction of travel remains clear for CleanTech Lithium, and the favourable noises from the Chilean government are certainly very encouraging. Laguna Verde has support from local communities and, since DLE is the method of extraction, will have a minimal environmental impact. There’s quite a lot of work still to be done, but CleanTech now looks well positioned to take the next steps towards production.
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