Vintage Energy Progresses Albany Field Drilling

THE BOWSER: Vintage Energy (ASX: VEN) is progressing drilling of the Albany-2 well, located in the Galilee Basin, as part of the company’s Galilee Basin Deeps JV with Comet Ridge (ASX: COI).

Vintage Energy informed the market that Albany-2 is currently drilling ahead at 1848 metres toward the intermediate casing point at 2,430m.

The planned total depth of the well is 2,752m and with drilling, coring and logging, operations are expected to take a total of approximately 31 days.

“The target zone is the Lake Galilee Sandstone, which is estimated to be 280 metres thick and at a depth of 2,430 metres, with a key focus of Albany-2 being the coring of a number of representative sections of the target reservoir sands and intervening shales,” Vintage Energy said in its ASX announcement.

The company explained that the Lake Galilee Sandstone section was encountered in the Albany-1 well and flowed gas, without stimulation, at 230,000 standard cubic feet per day (scfd) from the top 10 per cent of the target reservoir.

The Albany-2 well is located approximately seven kilometres from Albany-1 and is expected to appraise the scale of the gas potential of the conventional Albany Field over its large 61 square kilometre area.

Vintage currently holds 15 per cent of the Galilee Basin Deeps Joint Venture (Comet Ridge 85%).

The company anticipates this equity level to increase to 30 per cent upon completion of Stage 2 farm-in funding obligations relating to the completed Koburra 2D seismic program and the drilling of Albany-2 and Albany-1 ST1.





Leigh Creek Energy Signs Chinese HoA

THE BOWSER: Leigh Creek Energy (ASX: LCK) has signed a Heads of Agreement (HoA) to commence In-Situ Gasification (ISG) in China with China New Energy Ltd (CNE).

Leigh Creek Energy has also been invited to apply for admission as a member of the Shanghai International Energy Exchange by China Lian Cai Petroleum Investment Holdings Limited, a shareholder of the exchange.

Leigh Creek Energy said the HoA originated due to the achievement of a Pre-Commercial Demonstration (PCD) and production of large amounts of gas that ultimately led to the 2P reserve designation of 1,153 petajoules by independent third parties.

The company explained that CNE was established in China to partner with overseas companies with demonstrated growth prospects, strong project and commercial management expertise, and commercial opportunities that align with its strategic investment objective.

CNE has been the major shareholder in LCK since March 2017 and from the outset has understood the opportunity that exists in taking LCK’s ISG process to China.

This means CNE is not just an investor, but a strategic partner with aspirations to produce gas in China with LCK in the future.

Now that the PCD has demonstrated the ability to produced quality gas and the project is moving towards its commercial phase, LCK has been able to move forward on its strategy to enter the Chinese energy market.

The HoA establishes a process to develop a full commercial agreement through a joint working group to formalise documentation through to the formation of a Joint Venture company.

A major focus of the LCK and CNE Joint Venture Agreement (JVA) will be the production of hydrogen and fertiliser using ISG methods for use in China and potentially abroad.

“The HoA with CNE is exciting as it presents a huge opportunity for LCK to move into such a large energy market as China and it is my pleasure to be able to share this news with our shareholders,” Leigh Creek Energy executive chairman Justyn Peters said in the company’s announcement to the Australian Securities Exchange.

“This HoA also gives us an opportunity for a quicker path to revenue.

“CNE is a large privately-owned company with assets in mainland China.

“CNE is also our largest shareholder and this agreement shows that, not only are they investors in the company, but have actively worked with LCK to gain a strong foundation in China and positioned LCK for considerable growth.

“This was always the strategic intention when CNE became a shareholder and we are pleased that strategy is now underway.

“China is a nation that is rich in coal with large resource of stranded coal that are suitable for ISG.

“China is also rapidly moving to a ‘Hydrogen Economy’ and is spending billions of dollars on that new energy strategy.

“Leigh Creek’s ISG process has proven that it has the potential to produce massive amounts of hydrogen as a standalone commodity or to be used in the manufacture of fertiliser.

“The development of ISG in China represents a great opportunity for LCK to be a major player in these emerging and important industries.

“We are proud of our relationship with CNE and the opportunity to join the Shanghai International Energy Exchange giving us direct access to the Chinese energy market.

“I would like to thank our two China-based directors who have worked hard on seeing our China strategy coming to fruition and look forward to even bigger and better news in the near future.”





Meteoric Resources Funded to Accelerate Brazilian Exploration

THE DRILL SERGEANT: Meteoric Resources (ASX: MEI) announced it had received firm commitments for a placement to fund an accelerated and expanded drilling exploration program at the company’s 100 per cent-owned Juruena and Novo Astro gold projects in Brazil.

Meteoric Resources informed the market of the placement to a small number of institutional and sophisticated investors will raise $2.7 million through the issue of approximately 84.4 million new shares at an issue price of 3.2 cents per share.

“Recent exploration at the Juruena and Novo Astro prospects has increased the company’s confidence in the discovery potential of Meteoric’s Brazilian assets,” Meteoric Resources managing director Andrew Tunks said in the company’s announcement to the Australian Securities Exchange.

“Over the last few weeks, diamond drilling at Juruena commenced and two rigs are currently onsite drilling double shifts at Dona Maria (Juruena).

“Additional first pass exploration has been underway 30 kilometres to the east at Novo Astro and has recognised thick zones of alteration and mineralisation within basement rocks that have been the target of extensive artisanal mining.

“It is the company’s opinion that the targets at Novo Astro warrant a large and detailed drilling program far in excess of its early expectations.

“The new capital injection will be used to bring in additional drilling capacity to effectively run two exploration teams working in tandem, one at Juruena and one at Novo Astro to immediately grow an understanding of the geology and gold distribution at these exciting bonanza-grade gold projects.

“Crucially the Novo Astra program can now scale up without affecting the company’s strong focus on Juruena, allowing both projects to be tested over the coming months, concurrently expanding and fast tracking our initial plans.”




Black Rock Mining Testing Exceeds Industry Standard for Battery Anode Materials

THE BOURSE WHISPERER: Black Rock Mining (ASX: BKT) completed a large-scale spheronising and purification trial at the company’s 100 per cent-owned Mahenge graphite project in Tanzania.

Black Rock Mining completed the testing using 400 kilograms of sub 80 mesh concentrate it had generated during its March 2019 Pilot Plant run.

The company said the trial demonstrated a yield to final product of 48 per cent and 53 per cent, and final purity of 99.98 per cent total graphitic carbon (TGC) using commercial scale equipment in commercial processing and in dedicated research facilities.

The outcomes exceeded Chinese Industry Benchmark yields of 35 to 45 per cent and purity of 99.95 per cent while using standard equipment and techniques.

Black Rock has sent Spherical Purified Graphite (SPG) produced from the trials to interested parties for further testing.

“The best way to think of the bulk spheronising trial is that it is the equivalent of our pilot plant strategy, but in this case, done downstream,” Black Rock Mining CEO John de Vries said in the company’s announcement to the Australian Securities Exchange.

“The fundamental objectives of the pilot plant approach remain the same and that is to improve our attractiveness to financiers and investors by demonstrating and de-risking Mahenge’s superior performance in our potential customers’ business.

“In completing this round of work, we had two key objectives.

“Firstly, to ensure that the flow sheet developed for the Mahenge concentrator preserves the integrity of the flake and does not impair spheronising performance.

“Secondly, to demonstrate that offtake partners can achieve industry leading performance using our flake in their existing facilities.

“This underpins our price point and volumes in our pricing framework agreements.

“Conducting a large-scale spheronising trial using industry standard equipment allows us to assess how initial laboratory results obtained during the Pre-Feasibility Study in 2017…scale up in the industrial context that our customers operate in.

“For our customers to be able to replicate the best-in-class spheronising results, that are up to a 50 per cent improvement on current yields, while able to replicate results obtained in highly controlled laboratory conditions by skilled researchers, with no modifications to their processes, is simply stunning.

“Concentrate used for these trials was produced at the Chinese pilot plant where the design flowsheet intended for the Mahenge graphite project was demonstrated.

“The exceptional spheronising yields obtained in the trial show that the planned flowsheet does not damage our flake.

“This talks to the unique geological advantage of Mahenge graphite, and the diligence applied to design and trials to optimise and de-risk our flowsheet before construction.

“With the completion of this technical work, we can confidently focus on completing our financing discussions and documenting the shareholder agreement with the Tanzanian Government.”





Renascor Resources produces Positive Process Design Test Results

THE BOURSE WHISPERER: Renascor Resources (ASX: RNU) announced results of recent process design tests undertaken at the company’s 100 per cent-owned Siviour graphite project in South Australia.

Renascor Resources said the test were carried out on Siviour graphite concentrates using the caustic roasting purification process, producing results the company declared has provided support for the proposed spherical graphite operation, as described in Renascor’s Siviour Spherical Graphite Pre-Feasibility Study that was released in February.

Renascor explained that Spherical Graphite must generally be purified to at least 99.95 per cent total carbon (TC) to be used in lithium-ion battery anodes.

Renascor’s previous Spherical Graphite purification programs included tests involving both caustic roasting, as well as hydrofluoric acid purification.

In both cases, Renascor produced +99.95 per cent TC, battery-grade anode material from Siviour graphite concentrates.

For the Spherical PFS, Renascor adopted a caustic roasting technique that combined Siviour graphite concentrates with a caustic solution and roasted them at low temperature before being leached with hydrochloric acid.

The tests produced +99.95 per cent TC, battery-grade anode material, with an average grade of 99.965 per cent TC.

The company considers the results of additional caustic roast test programs important for its strategy to produce purified Spherical Graphite by confirming that Siviour graphite concentrates are amenable to caustic roast purification to achieve +99.95 per cent TC, battery-grade graphite.

The recent tests also validated process design parameters adopted in the Spherical PFS and suggest potential operational costs savings through reduced roasting time and reagent consumption.

The recent test work also demonstrates that these results can be achieved through the more environmentally friendly caustic roasting process.

“The Spherical PFS demonstrated strong potential for Renascor to produce competitively-priced, purified spherical graphite for the growing market for lithium-ion battery anodes,” Renascor Resources managing director David Christensen said in the company’s announcement to the Australian Securities Exchange.

“The results today offer further confirmation that Siviour can achieve these competitive margins through the use of a more environmentally friendly caustic roasting purification process, which avoids the use of hydrofluoric acid.

“With nearly all natural flake spherical graphite used in lithium-ion batteries currently sourced from Chinese production facilities using hydrofluoric acid, these results demonstrate Siviour’s potential to offer strategic diversification of supply in a manner that is both cost-competitive and environmentally sensible.”





Cassini Resources Commences Drilling at Mt Squires Gold Project

THE DRILL SERGEANT: Cassini Resources (ASX: CZI) has commenced RC drilling at the Handpump prospect on the company’s 100 per cent-owned Mount Squires project, located adjacent to the western border of its West Musgrave JV project with OZ Minerals (ASX: OZL) in the Musgrave Province of Western Australia.

Cassini Resources’ Mount Squires project is an early stage exploration project, the company considers highly prospective for gold.

Drilling at the Handpump prospect is now underway that is designed to confirm mineralisation controls and extensions to previous drill intercepts which include a best result of 15 metres at 2.3 grams per tonne gold from 31m within a broader mineralised envelope of 57m at 0.94g/t gold from 14m.

Cassini explained this drilling program represents the first drilling to be undertaken at the Handpump prospect since 2011, prior to Cassini’s ownership.

Simultaneously, a high-resolution aeromagnetic survey has commenced over the northern half of the Mount Squires gold project to assist with structural and lithological mapping which should assist in targeting gold mineralisation in these geological settings.

“Cassini has compiled all previous exploration into a consolidated database and utilised public geological and geophysical datasets to assist with geological interpretation and targeting,” the company said in its ASX announcement.

“This program marks the beginning of the company collecting new data to close the gaps in the existing data sets.

“The company has demonstrated expertise in operating in the region and continues to operate all field activities at the adjacent West Musgrave JV nickel and copper project.”





Diggers & Dealers 2019 Awards

THE CONFERENCE CALLER: A highlight of the Diggers & Dealers Mining Forum each year is the presentation of the annual awards at the Gala Dinner.


The Digger of the Year Award recognises a company who has achieved exceptional results from its operating projects over the past 12 months.

The 2019 Digger of the Year Award was presented to Roy Hill, for the performance of the Roy Hill iron ore project, situated 340 kilometres southeast of Port Hedland, over the past year.

The big shovels commenced mining in May 2014 at Roy Hill, since which time it has become one of Australia’s single largest iron ore mines.

The company has also built a 344 kilometre train set and a dedicated two berth port facility.

It provides employment to over 2,000 people.

The company ramped-up to full production during the 2018 financial year, and by February 2019, Roy Hill trains had delivered more than 126 million tonnes to port.

Production for the 2019 financial year is expected to be at the company’s 55 million tonne production capacity, placing it in the healthy position to be able to capitalise on the booming iron ore price.

Roy Hill has continued to focus on sustained, low cost production, as well as increasing shipments to key markets in Japan, Korea, China & Taiwan.


The Dealer of the Year Award recognises a company whose strategic decisions have added substantial value for shareholders over the past 12 months.

This year the 2019 Dealer of the Year gong was presented to Northern Star Resources in recognition of the company’s acquisition of the Pogo underground gold mine in the Tintina Mineral Belt in Alaska.

Pogo is the eighth largest gold mine in the United States and was purchased by Northern Star in September 2018 for US$260 million.

The mine has 4.1 million ounces in resource, which equates to US$63 per resource ounce.

Northern Star has exported good old Aussie know-how to make mining methods at Pogo more efficient.

The company is investing heavily in exploration and new technology to extend the life of the mine.

The acquisition has transformed Northern Star into a 900,000 ounce per annum producer, with a market capitalisation of $8.6 billion.


The GJ Stokes Memorial Award recognises someone who has made a significant and lasting contribution to the mining industry.

This year’s winner, Mark Creasy, has dedicated many years of his life to pegging ground and searching for minerals, which has resulted in him making some of the most significant gold and nickel discoveries in Western Australia.

Creasy graduated from the Royal School of Mines in London before moving to Australia in 1964.

He began his career as a mining engineer in Broken Hill, before moving to Western Australia in the late 1960s.

His first big prospecting success came in the shape of a 46 ounce gold nugget near Mount Magnet in the 1970s.

Later, in 1979, he went looking for Skylab debris near Norseman, however, while studying maps of the area, he formed the opinion that the Fraser Range would be prospective for economic nickel

Mark’s foresight in pegging this ground eventually led to the discovery of the Nova nickel-copper deposit, via a joint venture with Sirius Resources to undertake the exploration program.

The announcement of the Nova discovery sent Sirius shares soaring 10,000 per cent within a matter of months.

In the 1980’s, Mark pegged the ground that would one day lead to two major gold discoveries in Western Australia, Jundee and Bronzewing, after he identified gold bearing outcrops in the area.

To date, these mines have collectively produced more than 11 million ounces of gold.

Mark Creasy has played a part in some of WA’s biggest resource finds, and in doing so has become Australia’s most famous modern gold prospector.

After 55 years in the industry, he remains one of the biggest holders of exploration ground in the state and continues to lend his support to many junior exploration and mining companies.


The Diggers and Dealers Media Award recognises one outstanding journalist who reports primarily on the resources sector.

Voting for the award is conducted by fellow journalists, as well as mining company representatives.

The winner of the 2019 Media Award is freelance journalist Barry FitzGerald.

This is Barry’s second time at winning the award, having taken home the inaugural gong in 2003.

Barry has covered the resources industry for more than 30 years, writing for The Australian Financial Review and The Age and has been Resources Editor at the Australian.

He is currently a contributor to Mining News and Stockhead.
His articles on the resources industry are of the highest calibre, well researched and insightful.

They cover the spectrum of small and mid-cap miners, as well as the majors.

The consistent quality of Barry’s articles and opinion pieces make him a worthy second-time winner of this year’s Media Award



Winchester Energy Raises $2.5M from Heavily Supported Placement

THE BOWSER: Winchester Energy (ASX: WEL) has received firm commitments for the placement of approximately 100 million shares at an issue price of 2.5 cents per share to raise approximately $2.5 million.

Winchester Energy indicated the net proceeds from the Placement will be used to undertake development drilling activities at the Mustang Oil Field at the company’s 17,000 acre leasehold position in the eastern shelf of the Permian Basin, Texas as well as the continued assessment of recently identified prospects.

“Recently drilled discovery well White Hat 20#3 at the Mustang Oil Field has already provided the company with enhanced revenue in a short period,” Winchester Energy managing director Neville Henry said in the company’s announcement to the Australian Securities Exchange.

“This highly successful capital raising will provide the company with adequate funding to immediately commence the drilling of a series of high-confidence development wells which have the potential to significantly enhance oil production.

“The next Mustang well will spud in the coming weeks and the company will also immediately commence completion activities at the recently drilled Arledge 16#2 well at the Lightning prospect which recorded a highly encouraging 45 feet of calculated net oil pay in the Cisco Sands.”




How Will Lithium Supplies Meet Forecast Demands?

GUEST COMMENTARY: Many equity market and lithium industry analysts have seized on recent statistics for lithium supply and demand as indicative of long-term market trends. By Adrian Griffin managing director of Lithium Australia.

They see the rapid increase in hard-rock production, combined with a slower-than-anticipated uptake of electric vehicles (EVs), as a sure sign that the sky is about to fall in on the lithium price.

This position has led to forecasts of a glut in supply that will send the value of lithium, and the chemicals produced from it, tumbling fast.

Closer examination, however, reveals this to be far from the truth.

If global demand for lithium-ion batteries grows beyond the pundits’ wildest expectations, which it seems it may, then conventional sources of lithium supply simply will not cope with demand.

How then might ‘infinite’ lithium supply be achieved?

Unconventional sources will have to fill the gap.

But how, and when, such sources will be exploited are the fundamental questions.

The answers to those questions are not yet clear, as the sector remains captive to misinformation, misinterpretation and misunderstanding.

Culpable are corporates and governments – large and small – jockeying for a larger slice of what is anticipated to be a very large pie, the next global industry.

For example, while ‘experts’ debate the rate of uptake of lithium-powered vehicles, China fiddles with its EV subsidies.

Already, converters of spodumene – a common mineral rich in lithium – struggle to cope with adding capacity or planning future expansions. Yet we are told there is an oversupply of spodumene concentrates.

These are short-term aberrations, but as legislative changes pre-empt the banning of internal combustion engines around the world, it is apparent that any perceived oversupply of lithium may actually be short-lived.

Taking a longer-term view, some 3.5 million tonnes of lithium carbonate equivalent (a common measure of value employed in the lithium industry) will be required annually just to power the EVs needed to meet the legislative requirements in place from 2030 or thereabouts.

Factor in growing demand for lithium for energy storage and electronic goods and it becomes harder and harder to realistically envisage current and planned lithium operations meeting that demand.
So, where will the ‘new’ lithium come from?

Current mining expansion will not meet lithium demand longer term.

As mines mature, production will dwindle.

New mines targeting lower grades can fill demand gaps, but alternative sources of lithium may prove more attractive as genuine supply shortages put pressure on conventional production.

As Earth’s ‘throwaway society’ matures and (hopefully) develops a culture of custodianship for the planet, recycling will replace new materials as the preferred source of supply.

When the market matures to the point of product saturation, with continual expansion no longer required, demand for – and the recycling of – lithium will synchronise.

If that does occur, newly mined material will only be necessary to top up that regained through recycling.

Unfortunately, such a scenario seems a long way off, and if global population continues to increase by around 1.07 per cent a year (82 million people) it may never be realised.

In the meantime, an exponentially increasing demand for lithium will have the industry scratching its collective head about new sources of supply.

So, what might some of those sources be? Options include the following.

Geothermal and oilfield brines;
Spent lithium-ion batteries;
Lithium clays;
Spodumene tailings; and
Lithium micas found in pegmatites and greisen.

Let us explore each option.

Seawater contains lithium in very low concentrations (approx. 0.17 parts per million).

Due to the large volumes of water that would be required, evaporation ponds will not work commercially.

Also, seawater contains many other dissolved minerals, so traditional separation technologies would involve not only huge energy consumption but also fouling of the filtration media or regenerants.

If the recovery issues for seawater can be resolved, its commercial advantages will centre on location and its ubiquity.

In fact, exploiting seawater as a source of lithium could resolve much in the way of political uncertainty and security risks and in so doing enhance sustainability.

Geothermal and oilfield brines have been much studied, but their low lithium concentrations present processing challenges and, with oilfield brines, the expense of pumping from great depths. Japan and NZ have achieved geothermal brine success, but key US efforts have not.

In the UK, hot springs in old mine workings have been found to contain lithium and this potential source is being investigated.

Spent lithium-ion batteries – worldwide, enthusiastic adoption of lithium-ion batteries in huge quantities is causing great environmental concern, since once depleted most end up in landfill.

Presently, only nine per cent are recycled.

In Australia, the figure is less than three per cent.

Right now, smelting is the main means of recovering the metals these batteries contain, but the lithium is usually lost in flux or off-gas.

Research into lithium recovery through condensation of the off-gas from such smelting is currently underway, as is the development of more efficient recovery processes that will make recycling of lithium-ion batteries a potentially significant new source of lithium (as well as other energy metals).

Lithium clays, while low-grade compared to conventional hard-rock lithium deposits, are garnering attention.

Mexican deposits have been metallurgically assessed and future production from the region is anticipated.

Other lithium clay deposits – including in Nevada – contain both lithium and boron, but recovery from such deposits remains very energy-intensive.

Spodumene tailings – given the ways in which spodumene mineral separation circuits perform, and how commercial concentrates are produced, most pegmatite orebodies offer a relatively low lithium yield in terms of tonnes of ore mined.

Conventional conversion processes are energy-intensive and feed rates dependent on relatively coarse particle size, so much of the fine spodumene is discharged to tailings.

Emerging processing technologies, however, can improve recovery rates for both coarse and finer particles, thereby limiting waste and utilising material previously considered unsuitable for conventional lithium processing.

This represents a great industry opportunity.

Lithium micas are the world’s most abundant lithium minerals.

Lepidolite in particular is commonly associated with tin, tantalum and tungsten mineralisation.

When those elements are mined, vast quantities of lithium micas are currently discharged as waste.

Given that extraction and some processing costs are already covered, lithium mica waste streams become an obvious target for lithium production, but further processing innovation is required.

Adrian Griffin is managing director of Perth-based, ASX-listed lithium disruptor, Lithium Australia NL (ASX: LIT), which is building a business that integrates all aspects of the lithium supply chain, the aim being to ‘close the loop’ on the energy-metal cycle.

Adrian is available on 0418 927 658.


Piedmont Lithium Updates Scoping Study

THE BOURSE WHISPERER: Piedmont Lithium (ASX: PLL) reported results of an updated Scoping Study for the company’s vertically integrated lithium hydroxide chemical project located in North Carolina, USA.

The updated Scoping Study included a steady-state 22,700 tonnes per annum lithium hydroxide (LiOH) chemical plant supported by a mine/concentrator producing 160,000 tonnes per annum of six per cent lithium oxide (Li2O) spodumene concentrate.

By-products quartz, feldspar, and mica will provide credits to the cost of lithium production.

The Scoping Study features:

Integrated project to produce 22,700 tonnes per annum of LiOH;
25-year project life with two years of concentrate-only sales and 23 years of integrated operations plus more than 100 per cent increase in life-of-project LiOH production compared with prior studies;
First quartile operating costs, including lithium hydroxide cash costs of US$3,105 per tonne (AISC of US$3,565 per tonne) and spodumene concentrate cash costs of US$199 per tonne (AISC of US$238 per tonne);
Exceptional project economics of NPV of US$1.45 billion, after-tax IRR of 34 per cent, and steady-state annual average EBITDA of US$298 million;
Mine/Concentrator engineering and metallurgical testwork completed to PFS-level; and
Conventional technology selection in all project aspects.

The integrated Piedmont project is projected to have an average life of project all-in sustaining cost (AISC) of approximately $3,565 per tonne, including royalties and net of by-product credits, which the company claims should position it as the industry’s lowest-cost producer.

Piedmont believes the Scoping Study demonstrates the integrated project’s strong commercial potential, and now puts the company in a strong position to engage in discussions around future financing of the project, including with prospective strategic and off-take partners.

“We are very pleased with the results of the updated Scoping Study, which reflect the benefits of a 25-year mine life, a refined concentrator flow sheet and PFS-level engineering and metallurgy,” Piedmont Lithium president and CEO Keith D. Phillips said in the company’s announcement to the Australian Securities Exchange.

“The economic benefit of developing an integrated lithium chemical business in North Carolina, USA is clear, driven by the exceptional infrastructure and human resource advantages of our location, as well as the competitive royalty and tax regime offered in the United States.

“Recent corporate transactions (i.e. Wesfarmers/Kidman and Albemarle/Wodgina) have reinforced the wisdom of the company’s integrated business strategy.

“We will continue to progress our Mine/Concentrator through the permitting and feasibility processes, but we will now redouble our efforts on the strategic front by accelerating our lithium hydroxide testwork and intensifying the initial strategic discussions we have had with a broad array of potential strategic, offtake and financial partners.”