Aldo Boitano CEO of CleanTech Lithium outlines the potential value of their flagship assets
Episode 902, Sep 20, 2022, 07:20 AM
Aldo Boitano CEO of CleanTech Lithium #CTL outlines how in the first half of 2022 the company has made terrific strides forward in their understanding of the potential value of their flagship assets.
Aldo Boitano CEO of CleanTech Lithium #CTL outlines how in the first half of 2022 the company has made terrific strides forward in their understanding of the potential value of their flagship assets.
Highlights
1H 2022 was a period in which the Company prepared for further growth in 2H 2022 and into 2023 through the following activities:
· The Company listed successfully on the AIM market of the London Stock Exchange ("LSE") in mid-March 2022, raising £5.6 million (before expenses) at a time when many other IPOs were being cancelled or postponed due to prevailing market conditions
· Undertook successful initial drilling campaigns at Laguna Verde and Francisco Basin projects - drilling deeper than planned in both basins and encountering deeper sub-surface brine aquifer zones than forecast
· Announced lithium grades of up to 409mg/L at Laguna Verde and up to 324 mg/L at Francisco Basin following independent laboratory analysis of brine obtained from both drilling campaigns; the Francisco Basin project is now a new lithium discovery in the resources sector with a maiden JORC resource expected to be announced in the near future
· Commenced Environmental Impact Assessment Studies ("EIA") at the Laguna Verde and Francisco Basin projects using international specialist service provider, MYMA, and a Scoping Study at Laguna Verde which is due to complete in Q4 2022
· Successfully produced 1kg of battery grade lithium from Laguna Verde brine, through laboratory Direct Lithium Extraction ("DLE") processes, with independent laboratory results confirming over 99.9% Li2CO3, with very low impurities
· Announced in late June 2022 it had applied for 119 new exploration licences, covering a total area of over 344km², which constitute the Llamara Project; opening up a greenfield project that compliments existing projects and offers significant additional lithium exploration potential, with the licences expected to be awarded in Q4 2022
· Continued and/or commenced early-stage discussions with potential strategic or future offtake partners - with real interest being shown in the potential of the Company's two/three projects from companies of substantial scale, and
· Ended the Period with cash in hand of £4,670k (30 June 2021: £185k) after incurring £1,992k on capex costs associated with the Company's work programmes in Chile.
To read the full RNS click here
Highlights
1H 2022 was a period in which the Company prepared for further growth in 2H 2022 and into 2023 through the following activities:
· The Company listed successfully on the AIM market of the London Stock Exchange ("LSE") in mid-March 2022, raising £5.6 million (before expenses) at a time when many other IPOs were being cancelled or postponed due to prevailing market conditions
· Undertook successful initial drilling campaigns at Laguna Verde and Francisco Basin projects - drilling deeper than planned in both basins and encountering deeper sub-surface brine aquifer zones than forecast
· Announced lithium grades of up to 409mg/L at Laguna Verde and up to 324 mg/L at Francisco Basin following independent laboratory analysis of brine obtained from both drilling campaigns; the Francisco Basin project is now a new lithium discovery in the resources sector with a maiden JORC resource expected to be announced in the near future
· Commenced Environmental Impact Assessment Studies ("EIA") at the Laguna Verde and Francisco Basin projects using international specialist service provider, MYMA, and a Scoping Study at Laguna Verde which is due to complete in Q4 2022
· Successfully produced 1kg of battery grade lithium from Laguna Verde brine, through laboratory Direct Lithium Extraction ("DLE") processes, with independent laboratory results confirming over 99.9% Li2CO3, with very low impurities
· Announced in late June 2022 it had applied for 119 new exploration licences, covering a total area of over 344km², which constitute the Llamara Project; opening up a greenfield project that compliments existing projects and offers significant additional lithium exploration potential, with the licences expected to be awarded in Q4 2022
· Continued and/or commenced early-stage discussions with potential strategic or future offtake partners - with real interest being shown in the potential of the Company's two/three projects from companies of substantial scale, and
· Ended the Period with cash in hand of £4,670k (30 June 2021: £185k) after incurring £1,992k on capex costs associated with the Company's work programmes in Chile.
To read the full RNS click here