CleanTech Stock Price, News & Analysis

CleanTech Lithium PLC has released its unaudited interim results for the six-month period ending June 30, 2024. Key developments include significant progress on the Pre-Feasibility Study (PFS) at the flagship Laguna Verde project and promising results from the Direct Lithium Extraction (DLE) pilot plant in Chile. The company aims to produce battery-grade lithium carbonate for potential strategic partners by Q4 2024. They are also pursuing a dual listing on the Australian Stock Exchange (ASX) by the end of 2024.

Operational highlights include a zero-harm safety culture, the commencement of a five-well drilling program at Laguna Verde, and the production of high-quality lithium chloride eluate from the DLE pilot plant. The company also took full ownership of certain Laguna Verde licenses and submitted expressions of interest for five lithium projects to the Chilean Government. Post-period, the company plans pump tests and a reinjection well at Laguna Verde in Q4 2024 and has completed a plant location study.

Corporate updates include the resignation of CEO Aldo Boitano, with Executive Chairman Steve Kesler assuming interim CEO duties. The company’s cash position at the end of the period was £2.1 million. The ASX listing process continues despite procedural delays, with an associated capital raise planned. The Chilean Government has streamlined the CEOL process, prioritizing Laguna Verde for lithium development.

CleanTech Lithium PLC (AIM:CTL, OTCQX:CTLHF) reports that the Chilean Government has prioritized Laguna Verde, the company's flagship project, as one of six salt flats for lithium development. This is part of the process for awarding a Special Lithium Operating Contract (CEOL) to enter production. Key points include:

1. CTL submitted Expressions of Interest (RFIs) in June 2024.
2. Companies must meet criteria including industry experience, financial capacity, and holding mining concessions covering at least 80% of the CEOL area.
3. CTL is the only company meeting the mining concession area requirement for Laguna Verde.
4. The next stage is for companies to submit CEOL applications by December 31st, 2024.
5. CTL aims to start production at Laguna Verde by 2027.

CleanTech Lithium PLC (AIM:CTL, OTCQX:CTLHF) received public support from the local indigenous community for its Laguna Verde project at the CESCO seminar in Santiago, Chile. The company aims to begin project construction by 2026, pending a Special Lithium Operating Contract (CEOL) from the Chilean Government.

Key highlights include:

• Ercilia Araya, President of the Colla Pai-Ote indigenous community, expressed support for lithium project development
• CTL has a co-signed agreement with nearby local communities
• The project aligns with the National Lithium Strategy's objectives
• Industry experts discussed challenges and the need for sustainable extraction technologies

Steve Kesler, Executive Chairman and Interim CEO, stated that Laguna Verde is well-positioned to be one of the first new lithium projects operational in Chile by 2026.

CleanTech Lithium PLC (AIM:CTL)(Frankfurt:T2N)(OTCQX:CTLHF) has announced the transfer of AUD Loan Notes from one Regal Funds associate to another. On July 1, 2024, Regal Tactical Credit Fund (RTCF) subscribed for A$3,000,000 of Loan Notes. The company has now consented to transfer the beneficial ownership of these Loan Notes and associated Warrants to Regal Emerging Companies Opportunities Fund Pty (RECOF). Both funds are managed by Regal Funds Management Pty (RFM). There are no changes to the terms of the Loan Notes or any other matters mentioned in the July 1 announcement.

CleanTech Lithium PLC (CTL), an exploration and development company, announced the completion of the first stage of production from its Direct Lithium Extraction (DLE) pilot plant in Copiapó, Chile. The plant produced 88m3 of concentrated eluate, equivalent to around 1 tonne of lithium carbonate equivalent (LCE).

The DLE process achieved a lithium recovery rate of 95%, and the eluate is being shipped to Conductive Energy in Chicago for conversion into battery-grade lithium carbonate, with initial results showing a 99.75% purity. This pilot production aims to provide large test samples to potential offtake partners.

The reserve report for the Laguna Verde project is scheduled for October 2024, following the completion of the re-injection well in September. CleanTech Lithium aims to be a key player in Chile's lithium industry, targeting the development of three to four new lithium projects by 2026.

CleanTech Lithium PLC announced an update on the 'Expressions of Interest' (RFI) process for developing lithium projects in Chile. The company earlier submitted RFIs for its Laguna Verde and Viento Andino projects, among others, and expects feedback by the end of August 2024. The Chilean Government has received 88 RFIs, with over 80% proposing Direct Lithium Extraction (DLE) technologies. The Government will engage local communities in July and will analyze project criteria such as financial capacity and estimated production. CleanTech Lithium is optimistic about its Laguna Verde project, noting it aligns with the National Lithium Strategy and has made significant progress, including a DLE pilot plant and community agreements.

CleanTech Lithium PLC has announced the results of a plant location study for its Laguna Verde Project in Chile, which is a part of the ongoing pre-feasibility study (PFS). The study, led by Worley, evaluated the optimal location for the lithium carbonate plant. The decision was made to split the plant facilities between the Laguna Verde site and the mining center of Copiapó. The Direct Lithium Extraction (DLE) and eluate concentration stages will be located at Laguna Verde, while the carbonation plant will be based in Copiapó. This configuration leverages Copiapó's infrastructure and skilled workforce, reducing environmental impacts, and will support future expansions to process material from the Viento Andino project. The PFS, including updated capital and operating expenditure estimates, is expected to be completed by the end of Q4 2024.