GL1 Megathread, page-1476

Interesting write up on proactive:
Global Lithium Resources has solid foundation to progress Manna Lithium Project

do not advertise external links.au/companies/news/1037931/global-lithium-resources-has-solid-foundation-to-progress-manna-lithium-project-1037931.html
Published: 14:51 10 Jan 2024 AEDT Global Lithium Resources Ltd (ASX:GL1) has laid a strong foundation to advance the flagship Manna Lithium Project in the Goldfields region of Western Australia towards development during the next 12 months.In the next few weeks, the company will release additional results from a 60,000-metre drilling program completed last month and these will be incorporated in an updated mineral resource estimate (MRE) and mine schedule.DFS progressesCoupled with ongoing metallurgical studies, this work will form an integral part of a definitive feasibility study (DFS) the company plans to release during 2024 as it advances toward a final investment decision.The company is also well advanced in permitting and approvals with key environmental and Native Title approvals expected to be completed in the first half of 2024 with the grant of the Mining Lease to follow shortly thereafter.In an update, managing director Ron Mitchell said: Our journey since listing on the ASX in mid-2021 has been remarkable, characterised by rapid growth at the Manna and Marble Bar lithium projects in the Tier-1 mining jurisdiction of Western Australia. We are committed to continuing in this direction in 2024.”“A strong foundation”He continued: “Over the past year, we have diligently set a strong foundation as we advance towards a Final Investment Decision at the Manna Lithium Project in the Goldfields region.“In December 2023, we successfully completed a drilling program of more than 60,000 metres which has already returned further high-grade results that underpin the quality of this asset.“Concurrently, we also commenced work on the DFS for Manna and improved our understanding of the project’s favourable metallurgical characteristics.“With 2024 now underway, we are well placed to build on this foundation.”Clear strategyLooking ahead, Mitchell said he was excited about the coming year as “we execute our clearly defined strategy for the development of the Manna Lithium Project.“Manna has the potential to become a globally significant lithium mine, with substantial exploration upside in the project area and favourable metallurgy to enhance its growth.“Despite the challenges currently faced by the global lithium sector, we remain confident in the industry's long-term fundamentals. Every commodity market downturn reinforces the nature of quality projects such as Manna which can be harder to differentiate in more buoyant market conditions.Lithium upside“The recent M&A and partnering activity in the sector reinforces the appetite to secure supply at the mine gate which we continue to see at GL1 through customers seeking to secure raw material offtake contracts.“GL1 is well funded to complete the DFS for the Manna Lithium Project and participate in the upside that will likely follow the recent sharp correction in lithium commodity and chemical prices.“GL1's strategic approach and success to date position us well to thrive in this evolving market environment," he added.