Rock Tech Lithium Inc Stock Price, News & Analysis

Rock Tech Lithium Inc. has commenced construction of its first lithium hydroxide conversion plant in Guben, Germany, marking a significant step in the establishment of a local battery supply chain. The Guben Converter is the first of five planned facilities aimed at addressing the EU's lithium demand, projected to increase significantly by 2030. The plant is set to start commissioning in mid-2025, with production of battery-grade lithium hydroxide expected by early 2026. Strategic partnership with Mercedes-Benz will enhance sustainable battery production in Europe, underscoring Rock Tech’s commitment to eco-friendly operations.

Rock Tech Lithium has successfully obtained the first partial license for its lithium hydroxide conversion plant in Guben, Germany. This milestone, announced on March 8, 2023, allows the company to initiate construction, with groundbreaking scheduled for March 27, 2023. The licensing authority issued this permit following prior permissions in December 2022 and January 2023, enabling construction of non-process buildings and site infrastructure. The Guben project, estimated to cost USD 683 million, aims to meet Europe's rising demand for battery materials, converting spodumene into battery-grade lithium hydroxide. The company plans further submissions for additional permits to progress the project.

Rock Tech Lithium Inc. (TSXV: RCK, OTCQX: RCKTF) has mobilized a diamond drill rig to initiate the first phase of its 2023 exploration drilling campaign at the Georgia Lake lithium project in Ontario. The program aims to expand the existing mineral resources, particularly at the Main Zone North (MZN) and McVittie deposits, with a target of 3,500 meters of drilling. The MZN deposit currently holds the largest resource in the Georgia Lake Pegmatite Field, while the McVittie deposit has an inferred resource of 1Mt at 1.0% Li2O. The company is working towards increasing its total mineral resources in 2023 and 2024, anticipating significant growth.

Rock Tech Lithium Inc. announced positive assay results from its summer 2022 exploration program at the Georgia Lake project in Ontario. The exploration identified three new spodumene-pegmatite prospects: Line 20, Camp 38, and Conway East, with strike-extends ranging from 100 to 500 meters. The project spans 1,042 hectares of mineral leases and 5,686 hectares of claims. Rock Tech plans further trenching in summer 2023 to explore these prospects. General Manager Robert MacDonald expressed optimism about the project's potential, highlighting plans for ongoing exploration and development.