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News: PLP Lithium Australia advises update to Cinovec Licence Agreement, page-79

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oxxa23

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30/08/16

12:21

Post #: 18789714
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Originally posted by rjtmpgar ↑

Again, pardon the intrusion.

"As I understand it the original work with Strategic Metallurgy and LIT was using the L-Max method and LIT have since amazingly come across the Sileach method themselves..."

Correct. Strat Met developed the L-Max technology, LIT signed a (up to) 25 year option for 3 licences in November of 2014. LIT's first announcement on Sileach was in February of 2016.

"the Sileach method...isn't dissimilar to L-Max..."

Difficult to say as little information has been released on Sileach. I'd suggest the leachate must be different, as an atmospheric sulfuric acid leach (L-Max) won't crack the spodumene alpha crystal structure.

"LIT...basically said no thanks to L-Max method..."

No, they still hold 3 licences. Exclusivity in WA, Alix in Mexico and the third one is contentious (more below). Under the terms of the agreement with Strat Met, LIT is required to build an L-Max processing plant (information on size not provided) in WA within 5 years of option exercise to extend the term another 20 years, so it's in LIT's interests not to ignore L-Max. If I'm reading the terms of the agreement right (link below), the option would have been exercised in November of 2015, so the clock is ticking on establishing a process plant.

The current disagreement is over the third licence, which LIT committed to processing Li ore at EMH's Cinovec deposit. EMH and LIT couldn't agree on terms, so the non-binding MOU between the two companies was terminated. It seems that PLP and EMH assumed with termination of the EMH-LIT MOU that LIT's ownership of the L-Max processing licence for Cinovec was also terminated. Clearly LIT thinks not.

http://lithium-au.com/wp-content/up...ing-Breakthrough-Delivers-25-Year-Option1.pdf

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I might be wrong, but, i don't believe they have committed the second licence to Alix/Mexico... I think it was talked about in anticipation, but, believe the company has not formally ever elected it.. It was only WA and had nominated Cinovec.

LPD Price at posting: 1.3¢ Sentiment: Buy Disclosure: Held
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News: PLP Lithium Australia advises update to Cinovec Licence Agreement, page-79

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