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American Lithium Corp has reported a tragic vehicle accident near its project site in Southern Peru, leading to the death of a local passenger and injuries to two employees. CEO Simon Clarke expressed deep sadness, offering condolences and support to the affected families. The company is coordinating with local authorities regarding the incident and plans to establish an endowment honoring the deceased.
American Lithium is focused on developing lithium projects in the Americas, including the TLC lithium claystone project in Nevada and the Falchani and Macusani projects in Peru. The company emphasizes strong community support for its projects and has begun pre-feasibility work at TLC and Falchani.
American Lithium Corp. has launched the Preliminary Feasibility Study (PFS) for its Tonopah Lithium Claims (TLC) project in Nevada, engaging DRA Global as lead engineer. Initial work includes a diamond core drilling program to support detailed metallurgical testing. Previously announced highlights of the Preliminary Economic Assessment (PEA) indicate a pre-tax NPV of $3.64 billion, an IRR of 28.8%, and an average annual pre-tax cash flow of $435 million. The project aims to produce 1.46 million tonnes of lithium carbonate over 40 years, with significant capital costs estimated at $1.46 billion.
American Lithium Corp has appointed DRA Global as the lead engineer for the Pre-Feasibility Study (PFS) on its Falchani Lithium Project in Peru. The company is updating its Preliminary Economic Assessment (PEA) to incorporate new mineral resource data and by-products like Sulphate of Potash and Cesium. This update is timely as lithium carbonate prices have risen significantly, with recent studies suggesting values up to $24,000 per tonne. The project has local community support, and additional hydrology drilling has restarted as part of the Environmental Impact Assessment (EIA).
American Lithium Corp. (TSX-V:LI | NASDAQ:AMLI) recently reported significant operating and financial highlights for Q3 ending November 30, 2022. The company achieved: 25% increase in Measured Resources and 129% increase in Indicated Resources at its TLC lithium project. Key accomplishments include positive drill results, a robust Preliminary Economic Assessment (PEA), and confirmation of 99.4% purity lithium carbonate. The company also announced a Nasdaq listing under AMLI and a successful buyback of a 1% royalty at TLC. However, the net loss for the quarter was $5.4 million, consistent with the previous year.