Rock Tech Lithium Achieves Milestones at Guben Converter Site

Rhea-AI Summary

Rock Tech Lithium (RCKTF) announces key milestones at its Guben Converter site in Germany. The company secured railway connection approval from state authorities, enabling efficient transportation of materials from Hamburg and Bremen ports. Additionally, the ONTRAS gas pipeline relocation has been completed, with ownership transfer scheduled for January 1, 2025. Site preparation is expected to be completed by Q1 2025, with final steps including property fencing and gas pressure reduction station construction. The Guben Converter aims to provide locally refined lithium hydroxide for European electric vehicle batteries.

Positive

• Secured railway connection approval for efficient material transportation
• Completed gas pipeline relocation, enhancing site infrastructure
• Site preparation nearing completion, on track for Q1 2025

Negative

• None.

TORONTO, Nov. 27, 2024 /PRNewswire/ - Rock Tech Lithium Inc. (TSXV: RCK) (OTCQX: RCKTF) (FWB: RJIB) (WKN: A1XF0V) ("Rock Tech" or the "Company") is proud to announce significant advancements at its Guben Converter site in Germany, bringing the project closer to completion of site preparation by Q1 2025.

Two key goals have recently been achieved:

1. Railway Connection Approved: The state railway supervisory authority (Landeseisenbahnaufsicht), within the Ministry of Infrastructure and State Planning, has granted approval to expand the Guben Süd industrial zone train line to Rock Tech's site within the industrial area. This development will officially connect the Guben Lithium Converter to Germany's rail network, enabling efficient transportation of critical raw materials such as spodumene concentrate from the ports of Hamburg and Bremen. The enhanced connection will also streamline the movement of reagents and by-products, ensuring smooth logistics for the facility's operations.
2. Gas Pipeline Relocation Completed: The relocation of the ONTRAS gas pipeline on the property has been finalized. The relocated pipeline is in operation since the 07^th Nov. and Rock Tech has now taken possession of the pipeline, with full ownership set to transfer on January 1, 2025, under the terms of a signed decommissioning agreement.

These achievements mark significant progress in the development of the Guben Converter site, a cornerstone of Europe's lithium supply chain. With nearly all preparatory construction tasks complete, the final steps include fencing the property and constructing a gas pressure reduction station, both scheduled for early 2025.

"The completion of these milestones highlights the strong collaboration between Rock Tech and our Guben region partners," said Henrik Wende, Plant Manager Guben. "We extend our gratitude to the City of Guben for its support and highly appreciate the availability of state funding for infrastructure improvements in Guben. We thank ONTRAS for assistance with gas pipe relocation, the State Railway Supervisory Authority for the railway connection permit, and IPP Hydro Consult GmbH for driving this project forward."

Rock Tech's Guben Converter is set to play a pivotal role in Europe's transition to sustainable energy by providing locally refined lithium hydroxide for electric vehicle batteries. These recent developments reinforce the Company's commitment to delivering a robust and efficient supply chain solution for the European market.

ABOUT ROCK TECH

Rock Tech's vision is to supply the electric vehicle and battery industry with sustainable, locally produced lithium, targeting a 100% recycling rate. To ensure resilient supply chains, the company plans to build lithium converters at the doorstep of its customers, beginning with the Company's proposed Lithium Hydroxide Converter in Guben, Brandenburg, Germany. The second Converter is planned to be built in Red Rock, Ontario, Canada. Rock Tech Lithium plans to source raw material from its own Georgia Lake spodumene project in the Thunder Bay Mining District of Ontario, Canada, and procure from other ESG-compliant mines. Ultimately, Rock Tech's goal is to create a closed-loop lithium production system. Rock Tech has gathered one of the strongest teams in the industry to close the most pressing gap in the clean mobility story. The Company has adopted strict environmental, social and governance standards and is developing a proprietary refining process to increase efficiency and sustainability further.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. 

CAUTIONARY NOTE CONCERNING FORWARD-LOOKING INFORMATION Certain statements contained in this news release constitute "forward-looking information" under applicable securities laws and are referred to herein as "forward-looking statements". All statements, other than statements of historical fact, which address events, results, outcomes or developments that the Company expects to occur are forward-looking statements. When used in this news release, words such as "expects", "anticipates", "plans", "predicts", "believes", "estimates", "intends", "targets", "projects", "forecasts", "may", "will", "should", "would", "could" or negative versions thereof and other similar expressions are intended to identify forward-looking statements. In particular, this press release contains forward-looking information pertaining to expectations concerning the Guben Converter, including the design and features of the Guben Converter, as well as the expected costs, capital expenditures, timing and outcomes thereof; statements regarding the Company's future plans, estimates, and schedules relating to the Guben Converter, including the anticipated timing of future activities taken in support of the development thereof; Rock Tech's potential financing arrangements; the expected economic performance of the Guben Converter and anticipated production of battery-grade lithium hydroxide and related processing methods employed; the estimated capital and operating costs of the Guben Converter; the anticipated timing and outcomes of a final investment decision, construction activities and commissioning of the Guben Converter; statements regarding the Company's sustainability and ESG related goals and strategy, including the benefits and achievement thereof and future actions taken by the Company in relation thereto; expected regulatory processes and final outcomes; expectations regarding the electric vehicle industry, including the demand for and pricing of battery-grade lithium hydroxide and the benefits therefrom, and the development of political and regulatory frameworks especially in Germany and the European Union; Rock Tech's opinions, beliefs and expectations regarding the Company's business strategy, development and exploration opportunities and projects; and plans and objectives of management for the Company's operations and properties. Forward-looking statements by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause the actual results to differ materially from the forward-looking statements, including the risks, uncertainties and other factors discussed in the Company's most recent management's discussion and analysis and annual information form filed with the applicable securities regulators. No assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, and the Company cautions the reader not to place undue reliance upon any such forward-looking statements. The Company does not intend, nor does it assume any obligation to update or revise any of the forward-looking statements, whether as a result of new information, changes in assumptions, future events or otherwise, except to the extent required by applicable law.

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SOURCE Rock Tech Lithium Inc.

FAQ

What are the recent milestones achieved by Rock Tech Lithium (RCKTF) at its Guben Converter site?

Rock Tech Lithium achieved two key milestones: railway connection approval from state authorities and completion of ONTRAS gas pipeline relocation, with site preparation expected to complete by Q1 2025.

When will Rock Tech Lithium (RCKTF) complete the Guben Converter site preparation?

Rock Tech Lithium expects to complete the Guben Converter site preparation by Q1 2025, with final steps including property fencing and gas pressure reduction station construction.

What is the purpose of the railway connection at Rock Tech Lithium's (RCKTF) Guben site?

The railway connection will enable efficient transportation of spodumene concentrate from Hamburg and Bremen ports, as well as streamline the movement of reagents and by-products for facility operations.