Rock Tech Lithium Inc Stock Price, News & Analysis

Rock Tech Lithium Inc. announced the appointment of Mrs. Sonja Rossteuscher as the new Chief Financial Officer, effective November 01, 2022. She succeeds Mr. Stefan Krause, who will remain Vice Chairman of the Board. Rossteuscher brings over 20 years of financial executive experience, having previously served as CFO at Tristone Flowtech Group. Her expertise will support the company in project financing for its Guben Converter and Georgia Lake Mining Projects. Rock Tech aims to strengthen its position in the electric mobility sector through effective financing strategies.

Rock Tech Lithium and Transamine have entered into a definitive agreement to form a joint venture named RTT Lithium SA. This joint venture will focus on securing a supply of lithium-bearing spodumene for Rock Tech's planned European lithium converters. RTT aims to provide producers with a transparent offtake option and is designed to boost Rock Tech's sourcing strategy. Based in Geneva, Switzerland, RTT will operate on a 50/50 basis, overseeing the procurement and logistics of spodumene concentrate. The partnership aligns with Rock Tech's mission to enhance supply chain transparency and sustainability in lithium production.

Rock Tech Lithium Inc. has granted 300,000 stock options to certain directors, effective October 17, 2022. The options have a five-year term with 30% vesting immediately and 70% vesting monthly over 24 months. The exercise price is set at $2.77 per share, aligning with the closing price on October 14, 2022. This move aligns with the company's stock option plan approved on June 30, 2022. Rock Tech aims to produce lithium hydroxide for EV batteries, focusing on supply-chain transparency and sustainability.

Rock Tech Lithium has signed a definitive Supply Agreement with Mercedes-Benz to supply an average of 10,000 tonnes of battery-grade lithium hydroxide annually over five years. This agreement, valued at approximately C$2 billion, represents over 40% of Rock Tech's planned converter capacity in Guben, Germany. The contract also aims for CO2-neutral production of lithium by 2030. This partnership is crucial for advancing Mercedes-Benz's electric mobility goals and securing lithium supply for around 150,000 electric vehicles.

Rock Tech Lithium Inc. (OTCQX: RCKTF) has announced that the European Investment Bank (EIB) is reviewing a potential €150 million senior debt investment for its Guben lithium converter project in Germany. This project aims to produce lithium hydroxide, crucial for electric vehicle batteries, thereby supporting the EU's green transition. The Guben facility, the first of its kind in Europe, could supply materials for up to 500,000 EV batteries annually. Chairman Dirk Harbecke highlighted this as a positive market signal, showcasing progress in project development.

Rock Tech Lithium is pleased to announce the final results from its 2021-2022 Drill Program at the Georgia Lake lithium project in Ontario. This initiative aimed to enhance the confidence in mineral resource estimates for pre-feasibility studies, expected to be published in Q4 2022. The program successfully drilled 23,200 metres across multiple deposits, revealing significant lithium intersections. Notable assay results include 9.1m at 0.96% Li2O from the MZSW deposit and 2.48m at 0.56% Li2O from the Conway deposit, showcasing potential resource expansions.

Rock Tech Lithium welcomes two new directors, Jutta Dönges and Michelle Gahagan, enhancing its Board of Directors. Shareholders overwhelmingly approved their election at the June 30, 2022, AGM, with 99.98% support. Dönges, an expert in financial management, oversees significant funds in Germany, while Gahagan brings extensive experience in mining and law. Their expertise is anticipated to bolster Rock Tech's strategic growth in lithium project development, vital for the electric vehicle supply chain.

Rock Tech Lithium and Mercedes-Benz AG have announced a strategic partnership to produce high-quality lithium hydroxide for electric vehicle batteries. This agreement, set to begin in 2026, allows Rock Tech to supply up to 10,000 tonnes of lithium hydroxide annually. The partnership aims to meet increasing lithium demands amid Mercedes-Benz's commitment to electric vehicles by 2030. Rock Tech is developing a converter project in Germany and plans to operate a mine in Georgia Lake, Canada. Both companies prioritize sustainable and resilient supply chains.

On July 13, 2022, Rock Tech Lithium announced a significant framework agreement with a major German car manufacturer for the supply of lithium hydroxide, crucial for EV batteries. The agreement spans five years, with options for renewal. Both parties commit to environmental sustainability, aiming for CO2-neutral lithium hydroxide production by 2030. Rock Tech plans to commence production in Guben, Germany, in 2024, leveraging its advanced refining processes. This partnership positions Rock Tech as a key player in the growing electric vehicle market.