Spot on.
FACTS are important. Detail matters.
H2 2017:
Industrial-scale pilot plant under constructoin
H1 2018:
Pilot plant operational; first Li2CO3 produced
H2 2018:
First BG Li2CO3 product achieved
PEA completed and results announced
H1 2019:
Analysing 2000tpa plant initial stage option
Submitted regulatory documents and permitting applications for 2000tpa plant
H2 2019:
Continuous production from pilot plant achieved
Seeking funding for 2ktpa plant (no permits yet)
H1 2020:
2000tpa permits granted
5-tonne shipment sent to potential offtaker (Korea)
Covid BS
H2 2020:
500kg shipment (Japan)
20t shipment prepared (Korea)
More Covid BS
H1 2021:
$30M placement to fund 2000tpa plant. Oversubscribed.
Plant construction begins
EIA report for 10ktpa expansion completed & submitted
NOTE:
"The Company explored and considered numerous financing and strategic options over the
past 18 months for a successful funding solution. However, the Company was unwilling to
accept an increased risk profile with debt security provisions (noting the failure of
spodumene producers during this period), accept direct project equity dilution, nor
handover the Company’s proprietary technology. In addition, no off-take or strategic
groups were prepared to invest in product pre-payment arrangements, noting the
oversupplied product market."H2 2021:
2000tpa plant: 53% construction works completed
H1 2022:
2000tpa plant: 90% complete
H2 2022:
2000tpa plant: Commissioning produces 99.76% Li2CO3 product
Development works 98% complete
Commissioning 90% complete
H1 2023:
2000tpa plant: Commissioning advances to 24-hr continuous operation trials
NOTE: Strategic partner process:
"
The key objective of the strategic partner process was to assess, then select via mutual
alignment to secure funding and long-term off-take arrangements for the 10,000tpa
expansion operation from a tier-1 counterparty in the EV supply chain. The Company has
undertaken a comprehensive and thorough process, including multiple phases (due to
significant and increasing interest with varying propositions) during the course of the lithium
market uplift over the past 2.5 years, and this process is now nearing finalisation.
The Company was not constrained by a set deadline, preferring to achieve a favourable
deal for stakeholders and a mutually beneficial partnership, aligned for the long-term
sustainability and strategic benefit of the parties.
As such, the Company is progressing to finalise the key agreements for such, via an off-take
agreement for long-term battery quality lithium carbonate product supply and a finance
agreement for the 10,000tpa operation funding."
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The ATH sp was reached in Q1 2023; Feb this year, just over 80c. ....yet some here make absolutely absurd claims like "
they chose to go down the 'we'll do it ourselves' route and the market doesn't like that as displayed in todays share price".....
Wow, that's interesting isn't it....?? Was the market "unaware" of this approach 6 months ago..??!! LMAO....
Not to mention other zingers like:
"They're trying to reinvent the wheel, which is not working"
Just.... FACEPALM.
Beware the wolves!! DYOR!!
Which strategy is more sensible - that of anonymous armchair "experts", or that of the Li Brine processing and operations experts..? Simple.
“Out of the pilot plant we produced battery quality lithium carbonate product, sold it to battery
cathode customers, and they have paid us battery quality prices.“It shows that the product quality
is there.“[The 2000t plant] further de-risks the process for further expansions when we get that
operation up and running.“We still must get the product qualified down the track from the big guys,
and you can only do that when you are in production, when you have built the facilities.
“That’s exactly what we are trying to do.”
IMO
DYOR
