CleanTech Lithium PLC (AIM:CTL, Frankfurt:T2N, OTCQX:CTLHF), an exploration and development company advancing sustainable lithium projects in Chile for the clean energy transition, is pleased to announce its unaudited Interim Results for the six-month period ended 30 June 2024 (“1H 2024” or “the Period”).
The Company has made significant progress with the Pre-Feasibility Study (“PFS“) at the flagship project, Laguna Verde, and seen encouraging results from the Direct Lithium Extraction (“DLE”) pilot plant in Chile and will be producing battery-grade lithium carbonate for potential strategic partners to evaluate. The Company is also pursuing a dual listing on the Australian Stock Exchange (“ASX“) and aims to be trading on the ASX in Q4 2024.
Highlights of the Period:
Operational:
· Health & Safety:
o Zero-harm safety culture focused on continuous improvement to achieve an injury free and healthy work environment – no LTIs, major incidents or near misses recorded in 1H 2024.
· Laguna Verde Drilling Programme:
o Five-well resource drilling programme commenced. Work designed in collaboration with Montgomery & Associates, a leading hydrogeology and resource evaluation consultancy.
o Programme aims to produce a maiden reserves estimate using modifying factors from the Pre-Feasibility Study (“PFS”) which is underway and targeted for completion by the end of 2024.
· DLE Pilot Plant:
o Operational and producing high quality lithium chloride eluate with low impurities.
o Eluate is being converted to produce batches of battery-grade lithium carbonate which will be made available to potential strategic partners in Q4 2024 to start product qualification.
o Inauguration event was held in May 2024 where local communities and government officials were in attendance.
· Project Licences:
o CTL entered into a sale and purchase agreement (“SPA”), now taking full ownership of certain Laguna Verde licences that were previously held by way of an option agreement
o The licences held in the Salar de Atacama basin, which we understand are located outside the salar area defined as strategic by the Government and have been re-named the ‘Arenas Blancas’ project, are a potentially very promising opportunity.
· CEOL Contracts:
o Expressions of Interest (“RFIs”) for a total of five lithium projects have been submitted to the Chilean Government. CTL is very well positioned as the most advanced exploration stage company progressing DLE based projects in Chile.
o Francisco Basin project has been renamed Viento Andino, in line with the RFI submission, to highlight the project area is outside a national park of a similar name located in the basin.
Corporate:
· Board changes:
o Executive Chairman Steve Kesler assumed the duties of CEO on an interim basis, following the resignation of CEO, Aldo Boitano in April.
o The search for a new CEO is well underway and the chosen candidate will be announced in due course.
· Cash position:
o The Company’s cash position at the period end,…