Lithium Universe Limited (ASX: LU7) – Trading Halt

Melbourne, Australia (ABN Newswire) – Lithium Universe Limited (ASX:LU7) (OTCMKTS:ESMAF) is pleased to announce a project update of the Becancour Lithium Refinery Project. The project is advancing well and remains on track. Key milestones include finalizing the plant layout, issuing technical specifications for capex estimation, and progressing with supplier quotation activities. Environmental site visits and studies are ongoing, with no significant issues identified. Hatch’s transition from Brisbane to Montreal offices is smoothly underway, ensuring continuity in project management. Early contractor engagement and strategic risk assignment are mitigating potential delays. Overall, the project is adhering to its timeline, with significant progress in engineering and procurement, ensuring readiness for a capital cost estimate and commitment to ensure environmental compliance with the regulatory framework.

Highlights

– Project is advancing well and remains on track

– Engineering milestones include plant layout, equipment packages, datasheets, scopes of work, and specifications

– Procurement priority one packages for quotes about 60% complete

– Early contractor engagement and strategic risk assignment

– Environmental work is progressing with no show-stoppers identified to date

– Strong engagement from Federal, Provincial and Local Government

– Becancour Lithium Refinery well aligned with Provincial strategy

– Mature local government support and project understanding

Procurement

Procurement activities include sending technical specifications to suppliers for detailed quotations to build the capex estimation. For priority one mechanical equipment, nine packages have been issued, with seven offers received and evaluations currently underway. Five priority one electrical equipment supply packages will be issued for inquiry within the next week. The goal is to evaluate all priority one packages by the end of September.

Due to potential lead times for electrical transformers, the tenderer list will be expanded to reduce these lead times.

Engineering

The major engineering activities include finalizing the plant layout and preparing documentation for equipment packages, such as datasheets, scopes of work, and specifications. Key tasks also involve creating the main power distribution single line diagram and providing clarifications during the tender period. Additionally, proposals received are being thoroughly reviewed to ensure they meet project requirements. Effective handling of process effluent and site runoff is another critical focus area. The development of the package register, material take-offs (MTOs), and comprehensive equipment lists are ongoing, ensuring all necessary components and details are accurately documented and organized for the project’s successful execution.

Plant Layout

The first release of the plant layout has been published, with several features still under development. These include new plant areas such as the boiler plant…