Welcome to our dedicated page for Grounded Lithium news (Ticker: GRDAF), a resource for investors and traders seeking the latest updates and insights on Grounded Lithium stock.
Grounded Lithium Corp. reports developments tied to its lithium brine exploration and development business in Southwest Saskatchewan and its OTC-traded shares under GRDAF. Company updates commonly cover the Kindersley Lithium Project, technical work on the Duperow Formation, direct lithium extraction evaluation, pre-feasibility study work, and collaboration with Denison Mines Corp.
News also includes quarterly and year-end financial results, working-capital and capital-expenditure disclosures, shareholder meeting matters, stock option grants, and the company's resource diversification into Saskatchewan oil and gas operations. These releases connect project spending, brine-processing studies, and oil-and-gas cash-flow initiatives to Grounded Lithium's broader development plans.
Grounded Lithium Corp. (GRDAF) has completed its 2024 field program at the Kindersley Lithium Project (KLP) and provided updates on its Pre-Feasibility Study (PFS). In partnership with Denison Mines, the company successfully re-entered and extended the 4-15-33-23W3 well by 100 meters, conducting extensive testing across the Duperow formation.
Key achievements include: collection of 83 cubic metres of bulk brine samples, testing of 11 intervals for flow capabilities and lithium concentrations, confirmation of previously tested zones at 76.5 mg/L lithium concentration, and discovery of new lower zones with 66 mg/L concentration. Direct lithium extraction testing has begun at multiple labs, and 3D reservoir depletion modeling is underway to support production models and infrastructure designs.
The PFS, being prepared by Stantec Inc., is scheduled for completion in mid-2025.
Grounded Lithium Corp. (TSXV: GRD) (OTCQB: GRDAF) has released its financial results for Q3 2024. The company reported a net comprehensive loss of $183,389 for the quarter, significantly lower than the $783,927 loss in Q3 2023. For the nine-month period, losses decreased to $932,819 from $3,410,678 in the previous year. Cash flow used in operating activities reduced to $119,701 from $549,952 year-over-year. The company maintained a working capital surplus of $135,879, though lower than $385,560 in 2023. Capital expenditures included a cash payment from Denison Mines Corp, recorded as a reduction in Exploration & Evaluation assets.
Grounded Lithium Corp. (GRDAF) announces the start of its 2024 field program and Pre-Feasibility Study (PFS) for the Kindersley Lithium Project (KLP), with Stantec as lead author. The program, funded by Denison Mines Corp.'s $4.5 million budget, includes re-entering and deepening a dedicated lithium well by 100 meters, conducting extensive production testing across 11 intervals, and collecting brine samples for technology evaluation. The PFS, targeting completion in mid-2025, will incorporate data from field work and technology assessments to determine optimal metallurgical design and performance.
Grounded Lithium Corp. (GLC) announces a CAD$4.5 million budget for the Kindersley Lithium Project (KLP), fully funded by Denison Mines Corp under their Earn-in Agreement. The budget aims to advance the project through June 2025, focusing on:
1. Developing a NI-43-101 compliant pre-feasibility study (PFS)
2. Further resource delineation through drilling and sampling
3. Additional brine production for testing extraction technologies
4. Creating a depletion and recovery model for economic analysis
This collaboration represents a significant step in advancing the KLP, with Denison set to earn a 30% working interest upon funding CAD$2.2 million in project expenditures. The budget's completion will bring Denison's total investment to over CAD$5.0 million, nearing the CAD$6.0 million required for Phase 2 of the agreement.
Grounded Lithium announced a CAD$4.5 million budget for the Kindersley Lithium Project (KLP) funded by Denison Mines (DNN) to advance technical de-risking through June 2025. Funds cover a NI 43-101 compliant pre-feasibility study (PFS), additional drilling, brine production and metallurgical pilot testing, depletion/recovery modelling, and trade-off studies for direct lithium extraction and concentration methods. Denison has now incurred in excess of CAD$5.0 million of the CAD$6.0 million required to complete Phase 2 of the earn-in, and an additional CAD$850,000 cash payment is required to finish Phase 2.
Grounded Lithium Corp. (TSXV: GRD) (OTCQB: GRDAF) has released its financial and operating results for Q2 2024. Key highlights include:
- Net comprehensive loss of $241,823 for Q2 2024, compared to $944,463 in Q2 2023
- Cash flow used in operating activities decreased to $93,410 from $407,588 year-over-year
- Funds flow used in operations improved to $108,213 from $684,960 in Q2 2023
- Working capital surplus of $208,583 as of June 30, 2024
- Capital expenditures for H1 2024 include a cash payment from Denison Mines , recorded as a reduction in Exploration & Evaluation assets
The company's financial position shows improvement compared to the previous year, with reduced losses and cash outflows.
Grounded Lithium Corp. (OTCQB: GRDAF) reported its financial and operating results for Q1 2024. Key highlights include a net comprehensive loss of CAD 507,607, a significant improvement from the CAD 1,682,288 loss reported in Q1 2023. The company also announced entering into agreements with Denison Mines Corp., which are expected to fund a field pilot for the KLP project. Operating cash flow used was CAD 411,756, down from CAD 1,730,836 in the same period last year. Capital expenditures saw a disposition of CAD 800,000. The company's working capital surplus was CAD 303,222, down from CAD 890,061 a year earlier. Shares outstanding increased to 78,279,227 from 69,656,423. Further details can be found in their financial statements and management's discussion on their website or sedarplus.ca.
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