The Firm has made vital progress with the Pre-Feasibility Research (“PFS“) on the flagship challenge, Laguna Verde, and seen encouraging outcomes from the Direct Lithium Extraction (“DLE”) pilot plant in Chile and will probably be producing battery-grade lithium carbonate for potential strategic companions to guage. The Firm can be pursuing a twin itemizing on the Australian Inventory Change (“ASX“) and goals to be buying and selling on the ASX in This autumn 2024.
Highlights of the Interval:
Operational:
Company:
-
Board adjustments:
-
Government Chairman Steve Kesler assumed the duties of CEO on an interim foundation, following the resignation of CEO, Aldo Boitano in April.
-
The seek for a brand new CEO is nicely underway and the chosen candidate will probably be introduced sooner or later.
-
-
·Money place:
-
The Firm’s money place on the interval finish, together with proceeds acquired from Mortgage Notes shortly after interval finish, was £2.1 million.
-
Publish-period Highlights:
-
Operational:
-
Pump exams and a reinjection nicely at Laguna Verde, deliberate to be undertaken in This autumn 2024, will assist outline the brine extraction and reinjection wellfield design and the sustainable manufacturing charge required for the PFS.
-
A plant location research was accomplished by Worley for the Laguna Verde challenge and concluded that the DLE and eluate focus ought to be undertaken at challenge web site and the purification and carbonation near Copiapo which is at a decrease elevation with good technical assist regionally obtainable. This latter plant could be expanded sooner or later to additionally course of concentrated eluate from the Viento Andino challenge.
-
Completion of the primary stage of manufacturing of concentrated eluate from the Firm´s DLE pilot plant which has been shipped for conversion to battery-grade lithium carbonate by course of companions in North America.
-
Company:
-
ASX Itemizing:
-
The Firm is looking for to dual-list on the Australian Securities Change (“ASX”). Though the Firm introduced an extension to the ASX IPO timetable on 20 September 2024, to permit it to deal with some procedural issues raised by ASX, the intention stays to finish the IPO earlier than the yr finish. An related capital increase is deliberate to allow completion of the PFS and continuance of different work programmes. However, the Firm continues to think about its funding choices on an ongoing foundation as part of its regular follow.
-
-
·CEOL Course of:
-
The Authorities has streamlined the CEOL course of, saying an replace on the finish of Septemberprioritising six salt flats for lithium improvement together with Laguna Verde, the Firm’s flagship challenge, as having essentially the most beneficial circumstances to advance lithium exploration and extraction. CEOL functions to be submitted by 31st December 2024.
-
-
Native stakeholders:
-
CTL attended a seminar organised by CESCO alongside native indigenous communities. The President of the Colla Pai-Ote neighborhood publicly endorsed CTL’s Laguna Verde challenge as the best way ahead for the lithium business in Chile, which was broadly reported within the Chilean media.
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CTL’s DLE carousel tools is now put in on the College of Atacama as a part of an ongoing partnership. The DLE tools will probably be obtainable for analysis programmes. The long-term collaboration between the College and CTL will assist nurture the talents required for fostering the lithium business within the Atacama area.
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Steve Kesler, Government Chairman and Interim CEO, CleanTech Lithium stated:
“The primary half of 2024 has seen vital operational and strategic progress on our lithium initiatives in Chile. This contains the manufacturing of top quality lithium chloride eluate with low impurities from our DLE pilot plant, which has a capability to provide one tonne per thirty days of lithium carbonate equal. A drilling, pump testing and reinjection programme was began at Laguna Verde aimed toward updating the JORC useful resource estimate, offering information for the PFS and growing of a maiden reserve estimate.
“The Firm can be within the strategy of itemizing on the ASX alternate, which can assist its future improvement, because it enters potential strategic associate discussions and progresses in direction of manufacturing. While this course of has been delayed, the ASX market is nicely versed within the lithium sector and a significant variety of the Firm’s present shareholders have Australian hyperlinks.
“With the PFS nicely underway and challenge improvement ongoing, backed by the sturdy assist from native indigenous communities and aligned with the targets of Authorities’s Nationwide Lithium Technique, we stay up for the long run with confidence.”
CHAIRMAN AND INTERIM CEO REVIEW
The next evaluation is a glance again on the highlights from the primary half of 2024:
Enterprise Technique
CleanTech Lithium continues to make nice strides in assembly the target of turning into a number one provider of battery-grade lithium carbonate to assist the world’s transition to wash power. The progress made in direction of constructing sustainable lithium initiatives in Chile the place the Firm is planning to make use of Direct Lithium Extraction (“DLE”) powered by renewable power instantly addresses the Chilean Authorities’s ambition to drive optimistic change in sustainability and social and financial improvement.
The ‘Nationwide Lithium Technique’, proposed by the President of Chile in late April 2023, goals to make sure Chile stays a prime producer and provider of lithium – a essential part for batteries in Electrical Autos and power storage methods (“ESS”). The established mining jurisdiction is presently the biggest provider of copper on the earth and one of many largest suppliers of battery grade lithium. To maneuver to a world run on clear power, new lithium initiatives are wanted, and Chile has the established infrastructure, business experience and workforce to deliver initiatives like CleanTech Lithium‘s into manufacturing within the subsequent few years.
New initiatives should be inbuilt the fitting means and the Authorities has prescribed the usage of DLE (or comparable sustainable applied sciences) for all new lithium improvement initiatives going ahead. CleanTech Lithium‘s technique is to play a major function in helping the Chilean authorities to realize this ambition. The Firm believes it’s most the superior improvement stage DLE firm working in Chile and the achievements made within the first half of 2024 is proof of this. It is rather encouraging to see the Firm’s DLE Pilot Plant producing samples of battery-grade lithium carbonate which can quickly be examined by potential strategic companions.
The Firm’s enterprise technique is targeted on delivering long-term sustainable progress and returns for all stakeholders, constructed on 4 pillars:
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develop the Firm’s superior lithium initiatives (Laguna Verde, Viento Andino) and progress the early-stage exploration initiatives (Arenas Blancas and Llamara) in Chile;
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utilise modern applied sciences, together with DLE and, the place doable, renewable power to sustainably produce lithium carbonate;
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produce business battery-grade lithium carbonate with excessive lithium recoveries and quick manufacturing time; and
-
provide instantly into the EV and battery storage market through strategic companions and offtake agreements.
To this finish, the Firm’s rapid targets are as follows:
-
replace the JORC useful resource estimate for Laguna Verde on completion of the 2024 drilling campaigns and declare a maiden reserves estimate;
-
full deliberate hydrogeological research and metallurgical exams at Laguna Verde, together with finishing a brand new reinjection nicely and pump exams to supply the info required to additional advance modelling of the sub-surface aquifer and design the extraction and reinjection wellfields;
-
ship a Pre-Feasibility Research (“PFS”) on the Laguna Verde Undertaking and begin the Definitive Feasibility Research (“DFS”) quickly afterwards;
-
full the method take a look at work on the DLE Pilot Plant and make battery grade lithium carbonate obtainable for provide to potential offtake and strategic companions to start out product qualification;
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proceed the required work to finish the environmental baseline research that commenced in 2022 and undertake the research required to allow submission of the EIA in 1H 2025;
-
enter right into a Particular Lithium Operation Contract (CEOL) with the Chilean State in relation to the Laguna Verde and Viento Andino Tasks to commercially promote lithium;
-
proceed to collaborate with the native indigenous communities, universities and different native stakeholders to make sure long-term assist for the initiatives, and
-
enter into substantive discussions with potential offtake and strategic companions with a view to reaching settlement on a future enterprise relationship, together with establishing a funding package deal for the development phases of the Laguna Verde Undertaking, together with fairness participation, debt and different buildings, to deliver the challenge on stream and begin promoting lithium carbonate on the earliest doable alternative.
Abstract of Firm Exercise
Within the first six months of the yr, CleanTech Lithium made additional progress towards delivering its PFS. This included commencing a five-well drilling programme at Laguna Verde, the commissioning of its DLE pilot plant and first manufacturing of extremely concentrated eluate for additional processing to make battery-grade lithium carbonate. The PFS is instrumental to assist discussions with potential strategic companions. The Firm can be looking for to dual-list on the Australian Securities Change (“ASX”). Though the Firm introduced an extension to the ASX IPO timetable on 20 September 2024, to permit it to deal with some procedural issues raised by ASX, the intention stays to finish the IPO earlier than the yr finish. However, the Firm continues to think about its funding choices on an ongoing foundation as part of its regular follow.
Operations
Well being and Security
The Firm maintains a zero-harm security tradition targeted on steady enchancment to realize an damage free and wholesome work surroundings, with no misplaced time incidents (“LTIs”), main incidents, or close to misses reported within the first half of 2024.
5-Properly Drilling Programme at Laguna Verde
The Firm commenced a 5 nicely drilling programme at Laguna Verde largely aimed toward changing Inferred useful resource to extra Measured & Indicated useful resource which can then have technical and financial modifying components utilized from the PFS to find out a maiden reserve. The programme was designed in collaboration with Montgomery & Associates, a number one worldwide hydrogeology and useful resource analysis consultancy.
The drill programme started in Q1 2024, with the graduation of wells LV07 and LV11 and suspended in Could on the onset of the winter shut-down interval, with the plan to recommence in October. The programme can even embody extra pump testing and reinjection testing in This autumn 2024 with outcomes serving to to calibrate the hydrogeological mannequin of the basin. This mannequin will assist additional outline the brine extraction and reinjection wellfield design and the sustainable manufacturing charge from Laguna Verde. Montgomery & Associates have been engaged to handle the drill programme, JORC useful resource and reserves reporting and design of the extraction and reinjection wellfields.
Laguna Verde is the Firm’s most superior challenge and has a complete JORC useful resource of 1.8 million tonnes LCE, of which 1.1 million is within the Measured and Indicated class. Laguna Verde’s Scoping Research, introduced in January 2023, highlighted sturdy economics, with an NPV8 of US$1.8bn, an IRR of 45.1%, web cashflows of US$6.3 billion and a low working prices of US$3,875/t for 30 years of manufacturing at 20,000 tpa LCE.
Drilling programmes at Laguna Verde since 2022
DLE Pilot Plant Commissioning and Manufacturing
The Firm´s one-tonne per thirty days DLE pilot plant (equipped by Sunresin) is situated in Copiapó, Chile, roughly 250km from Laguna Verde, and completed commissioning in late March. On the R&D centre the place the pilot plant is situated, brine from the Laguna Verde challenge is saved in a big 243,000 litre vessel outdoors the pilot plant after which fed into an indoor tank having handed by filtration to take away suspended solids. It’s then fed into the DLE columns proven within the picture under, that are stuffed with adsorbent designed to be selective for lithium molecules. Lithium, as lithium chloride, is adsorbed from the brine, earlier than desorption with water to create a purified lithium chloride eluate.
DLE Pilot Plant at R&D Centre in Copiapó, Chile (30 x approx. 3m columns to provide as much as 1 tonne per thirty days of LCE)
Testing of a variety of commercially obtainable adsorbents recognized that the adsorbent equipped by Lanshen carried out the very best on the Laguna Verde brine ensuing within the collection of this adsorbent. The DLE Pilot Plant commenced operation in Q2 2024, producing prime quality concentrated eluate. In Could, the Firm reported the important thing DLE efficiency metrics for the primary batch of 24m3 of concentrated eluate produced on the pilot plant. The restoration of lithium from the brine was 94% within the adsorption stage and 88% into the eluate. The lithium grade within the feed brine of 197mg/L was concentrated to 710mg/L within the eluate, or a 3.6X focus issue. These outcomes exceeded the Firm’s expectations. The eluate was additional concentrated by reverse osmosis to 2,194mg/l.
For the primary stage of manufacturing, a complete quantity of 1,196m3 of brine from the Laguna Verde Undertaking was processed on the DLE pilot plant with a complete of 14 cycles accomplished. Every cycle represents a quantity of brine being fed first by filtration to take away suspended solids, then into DLE columns that are stuffed with adsorbent designed to be selective for lithium molecules. Lithium, as lithium chloride, is adsorbed from the brine, earlier than desorption with water to create a purified lithium eluate.
Averaged throughout the 14 cycles, the restoration charge achieved by adsorption of lithium from the brine was 95% and the restoration charge of desorption from the adsorbent was 93%. The whole restoration charge into eluate averaged 88% and was extremely constant as proven within the determine under. The temperature of the brine and desorption water, utilizing the common ambient temperature in Copiapó throughout the March to June interval of operation, was within the vary of 20oC to 25oC indicating that good efficiency was achieved with out the necessity to warmth options in both adsorption or desorption.
Pilot Plant Complete Restoration Price
The eluate manufacturing charge was comparatively secure after the preliminary ramp up interval reaching a mean of two.8 kg LCE per hour demonstrating that the design capability of the pilot plant of 1 tonne LCE per thirty days was comfortably achieved. Selectivity of the adsorbent is one other key efficiency parameter for a DLE operation. DLE primarily acts as a purification stage, recovering lithium chloride from the brine while rejecting different impurities. For all the foremost ions within the brine, other than boron, the rejection charge was very excessive, exceeding 99%.
DLE Efficiency – Rejection of Main Impurities
The downstream conversion of lithium chloride answer to battery grade lithium carbonate is nicely established within the lithium business. Reasonably than spending capital on developing a lithium carbonate conversion plant, the Firm determined to associate with Conductive Vitality, an Alberta, Canada firm to undertake this conversion at its present facility in Chicago.
An preliminary 200L batch of concentrated eluate, was shipped to Conductive Vitality in Could. This batch was used as a trial earlier than establishing the conversion course of that may be used for processing bigger volumes of eluate produced by our DLE pilot plant into battery grade lithium carbonate. Conductive Vitality accomplished the set-up test-work producing lithium carbonate of 99.75% purity which is battery grade. This course of contains focus of the concentrated eluate to 18,000mg/l Li by ahead osmosis adopted by ion alternate to take away the hint impurities of calcium, magnesium and boron after which carbonation with sodium carbonate to provide battery grade lithium carbonate.
On completion of this trial, the Firm subsequently shipped batches of concentrated eluate from the pilot plant, with a complete of 88m3 shipped by late July, which is equal to roughly one tonne of lithium carbonate.
The downstream plant is being commissioned with lithium carbonate manufacturing anticipated in October 2024. This may present the Firm with the capability to provide vital portions of battery-grade lithium carbonate samples to potential strategic companions and offtakers to begin product qualification.
Pilot Plant Inauguration
In Could, the DLE pilot plant was formally inaugurated in Copiapó with a ceremony attended by varied regional authorities, indigenous neighborhood leaders, teachers, and enterprise representatives. Attendees on the ceremony included the Presidential Delegate of the Atacama Area, Luis Pino, Regional Councillor Javier Castillo; CORFO Director Rosa Roman, CORPROA President Andres Rubilar; miners’ union president Joel Carrizo; indigenous neighborhood representatives Christian Milla and Ercillia Araya.
DLE Pilot Plant Inauguration Could 2024
DLE inauguration occasion Could 2024 with Steve Kesler, Government Chairman and Interim CEO and Ercilia Araya, President of the Colla-Ote neighborhood
Pre-Feasibility Research at Laguna Verde
The PFS will outline the optimum configuration for the Laguna Verde challenge, paving the best way for a DFS and discussions with strategic companions. Information from the DLE pilot plant and the drilling and subject programmes are being integrated into the PFS which is being led by Worley, a world engineering companies firm, from their Santiago workplace.
As a part of that course of, in July, Worley accomplished a plant location research, and CTL has engaged varied consultants to conduct research on port entry, water provide, energy entry and lithium market dynamics. The plant location research recognized the perfect configuration for a manufacturing facility able to producing 20,000 tonnes of battery-grade lithium carbonate each year. This supplied a trade-off evaluation between finding your entire plant at Laguna Verde versus splitting plant services between Laguna Verde and the close by mining centre of Copiapó. The choice of finding the DLE plant and eluate focus levels on the Laguna Verde web site, and the carbonation plant at Copiapó was extremely beneficial, ensuing within the determination to proceed with this feature. A concentrated eluate with 6% lithium, the utmost focus earlier than lithium salts start to precipitate, will probably be transported to Copiapó for impurity removing and carbonation levels. This configuration leads to a minor improve in volumes transported whereas benefiting from Copiapó’s well-developed infrastructure and higher entry to a talented workforce. In response to the plant design, roughly 70% of the operational workforce will probably be employed on the carbonation plant, due to this fact finding it in Copiapó offers main benefits in hiring an area work pressure together with range outcomes akin to higher feminine participation, whereas contributing to the native economic system. The footprint on the challenge web site, which is at 4,300m above sea degree, will probably be drastically diminished, from energy provide, storage, camp and plant services, development part impacts, and environmental impacts.
The carbonation plant in Copiapó would ultimately be expanded to additionally deal with concentrated eluate from the Viento Andino challenge.
Company Developments
Particular Lithium Working Contracts (CEOLs)
Following the declaration of the Nationwide Lithium Technique in April 2023, the Authorities clarified that it might search majority management of strategic lithium property within the Salar de Atacama and Salar de Maricunga however that non-strategic salars could possibly be developed by personal sector pursuits with out the necessity for state firm participation. In consequence, the Chilean Authorities requested that the Firm withdraw its preliminary software for CEOLs for Laguna Verde and Viento Andino (previously Francisco Basin) and apply by the brand new formal course of. CTL´s challenge areas have been outlined as non-strategic and the Firm entered the method in June 2024 on a 100% possession foundation for Laguna Verde and Viento Andino. Functions for RFIs has additionally been made for 3 different lithium prospects in joint ventures with different events that are presently topic to confidentiality.
The Authorities supplied an extra replace to the CEOL software course of on the finish of September, prioritising six salt flats for lithium improvement together with Laguna Verde, the Firm’s flagship challenge, as having essentially the most beneficial circumstances to advance lithium exploration and extraction. The Authorities is anticipated to announce an extra replace later this yr on extra salt flats for lithium improvement. The Ministry of Mining will award one CEOL per salt flat with firms solely thought-about in the event that they meet sure standards. CTL´s Expressions of Curiosity (“RFI“) software instantly addressed every of those key standards and because the Firm has a dominant licence place within the Laguna Verde basin it’s the solely Firm that meets the mining concession space requirement. The factors set out by the Authorities recognises the standing of the Firm´s progress on the Laguna Verde challenge and places in place a transparent path to award a CEOL and the challenge’s improvement into manufacturing, which is focused for 2027.
The Chilean Authorities will now begin indigenous neighborhood consultations associated to those six salars. Further to different standards, CTL has developed a powerful relationship with indigenous communities situated within the environment areas, based mostly on early engagement together with a collaborative alliance signed in December 2023 to co-design the challenge´s EIA. The Firm can be working with the regional College to advertise native alternatives for future initiatives. The following stage of the CEOL course of is for firms to submit CEOL functions by December thirty first 2024.
Acquisition of Laguna Verde LicencesIn April 2024, the Firm accomplished the acquisition of 23 Laguna Verde licences, beforehand topic to an possibility settlement. This now provides the Firm full possession and management over all 108 mining licences inside Laguna Verde. The Board believes this acquisition enhances potential returns to shareholders and de-risks the challenge because it advances. Full possession of those licences has additionally facilitated the deliberate ASX itemizing.
Renaming of Francisco Basin and Salar de Atacama
In June the Firm introduced it had renamed the Francisco Basin challenge as Viento Andino. This was to make clear the challenge is situated outdoors a close-by nationwide park of an analogous identify. In the course of the interval, the Firm additionally introduced the Salar de Atacama licences have been renamed the ‘Arenas Blancas’ challenge to recognise that these fall outdoors of the Salar de Atacama space thought-about by Authorities as ´strategic´ to be managed by the State entity Codelco. These Enviornment Blanca licences are proven right here.
Map of licence areas in Arenas Blancas
ESG and Group Engagement:
In January, the Firm hosted a world seminar on the Universidad de Atacama titled “Lithium: World Challenges. Native Points, Decarbonization, Sustainability and Participation” introduced collectively famend worldwide teachers and business leaders to discover the essential function lithium performs in international decarbonization and the transition to a inexperienced economic system.
The Firm has additionally partnered with the College of Atacama, which has seen the set up of the Firm’s laboratory DLE carousel on the campus. This initiative permits college students to conduct their very own testing and analysis, supporting the event of a workforce for the long run and regional financial improvement.
Publish-period finish, CTL participated within the Centre for Copper and Mining Research (“CESCO”) seminar in Santiago, a outstanding annual seminar for the mining sector in Chile and acquired public assist from the native indigenous neighborhood for its Laguna Verde challenge. Native and nationwide media lined the endorsement made by the President of Colla-Ote Communities, Ercilia Araya, as seen within the press slicing under. On the seminar the Firm said if the Authorities need to see three to 4 new lithium initiatives in development by 2026, Laguna Verde could be one among these initiatives. To realize this, the Firm continues it engagement with the Chilean Authorities as a part of the CEOLs functions and in a well timed method for the EIA allowing course of.
President of the Colla-Ote Group publicly endorses CleanTech Lithium‘s Laguna Verde challenge at CESCO Seminar, August 2024
The Firm remained a signatory of the UN World Compact aligning with the ten guiding ideas. The annual ‘Communication of Progress’ report was submitted in Could 2024.
ASX dual-listing:
On 20 September the Firm introduced an extension to the Australian Securities Change (“ASX”) IPO timetable to permit it to deal with sure procedural issues raised by ASX. Though it’s anticipated the ASX IPO will full previous to the year-end, there could be no certainty over the timing. Consequently, as part of regular follow, the Board continues to think about different obtainable funding choices to supply the mandatory ongoing working capital and to take care of progress on the Firm’s varied capital programmes as described above.
The ASX is a pure match as a dual-listing for CTL given the excessive proportion of its shareholder base designated as Australian domiciled; that base contains Regal Funds as a major sharesholder which holds roughly 15% of the Firm’s shares in difficulty.
It’s clear that an Australian itemizing will broaden the shareholder base, improve the Firm’s profile in Australia and expose the Firm to a deep pool of capital from buyers with a great information of investing in useful resource, and lithium, firms.
The Firm will proceed to maintain the market knowledgeable of progress as applicable.
Board Modifications:
Along with my duties as Government Chairman, I assumed the function of Interim CEO in April following Aldo Boitano’s resignation. The seek for a brand new CEO is ongoing, and we stay up for saying the chosen candidate sooner or later.
Lithium Market:
Whereas the worldwide lithium market stays subdued with present oversupply and low costs, there may be clear expectation that market circumstances may have improved considerably by the point the Firm comes into first manufacturing in 2027. Some present high-cost manufacturing is suspending manufacturing, new initiatives are being deferred while demand for lithium to be used in batteries, for Electrical Autos and ESS continues to develop. The expectation is that lithium costs will begin to recalibrate to a medium and longer-term value that permits new initiatives to be financed. Cannacord Genuity forecasts that pricing to be in extra of US$22,500/t lithium carbonate from 2028 onwards. The scoping research for Laguna Verde and Viento Andino point out that these initiatives will probably be within the lowest quartile of prices and financial even at right this moment´s low costs and extremely engaging at forecast long-term costs.
The Firm has particular benefits in working in Chile which has a free commerce settlement (“FTA”) with the USA and preferential commerce preparations with the EU for essential minerals akin to lithium. The flexibility to provide battery grade lithium carbonate instantly into these markets with out intermediate processing in China will probably be vital for the Firm in these markets. In the meantime Chinese language firms are investing in battery provide chain manufacturing in FTA nations to take care of entry to the US market and can more and more search lithium carbonate from FTA compliant nations for these initiatives. The Firm is nicely positioned to make the most of this dynamic.
Financials:
The Firm’s money place on the interval finish, together with proceeds acquired from Mortgage Notes shortly after interval finish, was £2.1 million.
Within the six months to 30 June 2024, CleanTech continued to prioritise expenditure on its capital programmes with the next progress famous:
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Laguna Verde: Drilling: 5 nicely programme; PFS: engineering and feasibility research by Worley, Montgomery have been progressed; Hydrogeological modelling: additional evolution of each the modelling and as has the planning for pump-test and reinjection programmes; EIA: analysis of and improvement of the baseline research stays continues and stays a key side of CleanTech’s programmes in Chile
-
DLE: pilot plant development, testing and commissioning and preliminary operation prices
-
Group Relations: programme and different ESG initiatives.
As well as, the acquisition of 100% of the authorized and useful curiosity within the licences in Laguna Verde licences beforehand held beneath an possibility settlement was introduced in April 2024. Refer Be aware 12 to the monetary statements for additional particulars.
Administration money prices of roughly £1.9 million have been incurred throughout the interval (1H 2023: £2.0m million). These money prices, largely mirror £0.5 million for workers prices (1H 2023: £0.5 million), £0.4 million for promotion public and investor relations and journey (1H 2023: £0.7 million), £0.8 million for authorized {and professional} assist together with itemizing and compliance and insurance coverage prices (1H 2023: £0.7 million), the stability of £0.2 million contains quite a lot of different and common administrative prices (1H 2023: £0.1 million).
On 30 June 2024, the Firm executed a GBP mortgage be aware instrument and an AUD mortgage be aware instrument pursuant to which it issued mortgage notes (“Mortgage Notes”) to subscribers to boost A$3.995 million, roughly £2.1 million, to finance working capital and prices related to ASX admission. Refer Be aware 11 to the monetary statements for additional particulars. Previous to coming into into the mortgage be aware devices the Firm additionally terminated an settlement to difficulty a convertible mortgage be aware to a excessive web value who did not pay the subscription monies to the Firm regardless of on-going assurances on the contrary.
To assist CleanTech’s plans which goal preliminary manufacturing from Laguna Verde in 2027 the Board has developed a monetary technique to boost the capital wanted. The Firm routinely receives approaches from third events and continues to think about as a component its general funding technique. An vital tenant of that technique is the participation and assist of strategic partnerships. Though strategic partnership discussions are presently taking tempo beneath non-disclosure agreements, they’re anticipated to progress additional as soon as the Laguna Verde PFS is accomplished and as soon as the preliminary portions of battery grade lithium from the DLE pilot plant and downstream processes can be found for evaluation.
Outlook:
The Firm stays nicely positioned to show the efficacy of DLE to provide battery grade lithium carbonate from Laguna Verde brine and to ship the PFS later this yr. It is a essential step for securing strategic partnerships and future challenge funding. The goal to ship battery-grade lithium carbonate by sustainable, low environmental affect manufacturing, utilising the DLE course of and renewable power, aligns the Firm with the Chilean Authorities’s Nationwide Lithium Technique and standards outlined within the CEOL functions. We’re nicely positioned to be prioritised amongst the personal sector potential initiatives.
Publish the interval finish, the Firm filed functions for its admission to the ASX. Alongside the dual-listing, CleanTech Lithium is looking for to boost funds to assist the following stage of its improvement, together with the supply of a strategic associate, because it progresses in direction of manufacturing.
The Board is worked up in regards to the alternatives forward and stay dedicated to delivering worth for our shareholders, companions, and the communities by which we function.
Steve Kesler, Government Chairman and Interim CEO
CleanTech Lithium plc
Condensed Consolidated Assertion of Complete Revenue
Be aware |
Unaudited |
Unaudited |
|||
£ |
£ |
||||
Revenue |
– |
– |
|||
Administrative prices |
3 |
(2,861,194) |
(3,263,200) |
||
Working loss |
(2,861,194) |
(3,263,200) |
|||
Finance prices |
– |
(9,806) |
|||
Loss earlier than tax |
(2,861,194) |
(3,273,006) |
|||
Revenue tax |
5 |
– |
– |
||
Loss for the interval after tax |
(2,861,194) |
(3,273,006) |
|||
Different complete earnings/(loss): |
|||||
Change variations arising on translation of purposeful currencies |
(906,194) |
9,128 |
|||
Complete complete loss for the interval |
(3,767,388) |
(3,263,878) |
|||
Loss per share fundamental |
6 |
(0.020) |
(0.031) |
The accompanying notes are an integral a part of these unaudited condensed consolidated interim monetary statements.
Condensed Consolidated Assertion of Monetary Place
Unaudited 30-Jun-24 |
Audited 31-Dec-23 |
||
Be aware |
£ |
£ |
|
Exploration and analysis property |
7 |
32,558,090 |
13,710,413 |
Non-current property |
32,558,090 |
13,710,413 |
|
Proceeds from Mortgage Notes issued |
11 |
2,109,986 |
– |
Money and money equivalents |
35,976 |
6,202,028 |
|
Commerce and different receivables |
8 |
179,989 |
610,898 |
Present property |
2,325,951 |
6,812,926 |
|
Commerce and different payables |
10 |
(906,550) |
(351,637) |
Provisions and accruals |
10 |
(587,646) |
(378,713) |
Loans notes |
11 |
(2,109,986) |
– |
Deferred consideration |
12 |
(984,408) |
– |
Present liabilities |
(4,588,590) |
(730,350) |
|
Deferred consideration |
12 |
(13,565,301) |
– |
Non-current liabilities |
(13,565,301) |
– |
|
Web property |
16,730,150 |
19,792,990 |
|
Share capital |
26,310,625 |
26,310,625 |
|
Capital reserve |
(77,237) |
(77,237) |
|
Share based mostly fee reserve |
9 |
6,417,807 |
5,713,259 |
Overseas alternate reserve |
(1,611,569) |
(705,375) |
|
Amassed losses |
(14,309,476) |
(11,448,282) |
|
Fairness and reserves |
16,730,150 |
19,792,990 |
The accompanying notes are an integral a part of these interim unaudited condensed consolidated monetary statements.
Condensed Consolidated Assertion of Modifications in Fairness
Share capital |
Capital reserve |
Share based mostly fee reserve |
Overseas alternate reserve |
Amassed losses |
Complete |
|
£ |
£ |
£ |
£ |
£ |
£ |
|
At 1 January 2023 |
21,076,155 |
(77,237) |
1,578,340 |
315,695 |
(5,562,683) |
17,330,270 |
Loss for the interval |
– |
– |
– |
– |
(3,273,006) |
(3,273,006) |
Different complete earnings |
– |
– |
– |
9,128 |
– |
9,128 |
Complete complete loss |
9,128 |
(3,273,006) |
(3,263,878) |
|||
Share choices and warrants |
– |
– |
778,935 |
– |
– |
778,935 |
Shares issued |
396,000 |
396,000 |
||||
30 June 2023 |
21,472,155 |
(77,237) |
2,357,275 |
324,823 |
(8,835,689) |
15,241,327 |
At 1 January 2024 |
26,310,625 |
(77,237) |
5,713,259 |
(705,375) |
(11,448,283) |
19,792,990 |
Loss for the interval |
(2,861,194) |
(2,861,194) |
||||
Different complete earnings |
(906,194) |
– |
(906,194) |
|||
26,310,625 |
(77,237) |
5,713,259 |
(1,611,569) |
(14,309,476) |
16,025,602 |
|
Share choices and warrants |
– |
– |
704,548 |
– |
– |
704,548 |
30 June 2024 |
26,310,625 |
(77,237) |
6,417,807 |
(1,611,569) |
(14,309,476) |
16,730,150 |
The accompanying notes are an integral a part of these interim unaudited condensed consolidated monetary statements.
Condensed Consolidated Assertion of Consolidated Money Flows
Unaudited |
Unaudited |
||
Be aware |
£ |
£ |
|
Loss after tax for the interval |
(2,861,194) |
(3,273,006) |
|
Non-cash gadgets: |
|||
Honest worth of Mortgage Be aware warrants |
592,633 |
||
Honest worth recognition of share choices and warrants |
556,896 |
||
Fairness settled transactions or companies |
– |
||
Motion in commerce and different receivables |
397,320 |
159,605 |
|
Motion in payables, provisions and accruals |
835,849 |
22,964 |
|
Finance prices |
(9,806) |
||
Web money utilized in working actions |
(1,035,392) |
(2,543,347) |
|
Expenditure on exploration and analysis property |
(4,800,040) |
(5,481,243) |
|
Web money utilized in investing actions |
(4,800,040) |
(5,481,243) |
|
Proceeds from difficulty of bizarre shares |
– |
396,000 |
|
Finance prices |
– |
(9,806) |
|
Web money generated from financing actions |
– |
386,194 |
|
Web money movement |
(3,725,446) |
(7,638,396) |
|
Money and money equivalents introduced ahead |
6,202,028 |
12,368,265 |
|
Web money movement |
(3,725,446) |
(7,638,396) |
|
Impact of alternate charge adjustments |
(330,620) |
(91,120) |
|
Money and money equivalents carried ahead |
35,976 |
4,638,749 |
The accompanying notes are an integral a part of these interim unaudited condensed consolidated monetary statements.
Notes to the Monetary Statements
1. GENERAL INFORMATION
CleanTech Lithium Plc (“CTL Plc”, or the “Firm”)
The condensed consolidated interim monetary statements of CleanTech Lithium Plc for the primary six months ended 30 June 2024 have been authorised for difficulty in accordance with a decision of the Board on 29 September 2024.
CleanTech Lithium Plc was integrated and registered as a personal firm, initially with the identify CleanTech Lithium (Jersey) Ltd, in Jersey on 1 December 2021 with registered quantity 139640. It was subsequently reregistered as a public restricted firm on 20 January 2022 and on 2 February 2022 it modified its identify to CleanTech Lithium Plc.
On 14 February 2022, a share-for-share alternate between the shareholders of CleanTech Lithium Ltd (CTL Ltd, or the U.Ok. entity) and CTL Plc accomplished, leading to CTL Plc buying and turning into the guardian firm of CTL Ltd and its wholly owned subsidiaries, collectively “CleanTech Lithium Group” or the “Group”.
In the course of the six months to 30 June 2024, there have been no adjustments to the construction of the CleanTech Lithium Group.
2. BASIS OF PREPARATION
The condensed consolidated interim monetary statements for the Group have been ready in accordance IAS 34 ‘Interim Monetary Reporting’ per the U.Ok.-adopted worldwide accounting requirements. They’re unaudited and don’t embody all the data required for the preparation of the annual consolidated monetary statements and ought to be learn at the side of the audited consolidated monetary statements for the yr ended 31 December 2023 of CleanTech Lithium Plc, that may be discovered on the web site: https://www.ctlithium.com. The auditor’s report on these accounts was unmodified nevertheless it did make reference to materials uncertainties associated to going concern.
The quantities on this doc are offered in British Kilos (GBP), until famous in any other case. Resulting from rounding, numbers offered all through these condensed consolidated Interim monetary statements could not add up exactly to the totals supplied and percentages could not exactly mirror absolutely the figures
A abstract of the numerous accounting insurance policies could be discovered within the Firm’s consolidated monetary statements for the yr ended 31 December 2023, on pages 50 to 53. The accounting insurance policies used to organize these condensed consolidated interim monetary statements are in step with these. Moreover, there aren’t any new requirements or interpretations relevant from 1 January 2024 which have a major affect on these condensed consolidated interim monetary statements.
Important accounting judgments, estimates and assumptions
In making ready this interim monetary report, it has been essential to make judgments, estimates and assumptions to type the premise of presentation, recognition and measurement of the Group’s property, liabilities, gadgets of earnings statements, accompanying disclosures and the disclosure of contingent liabilities. Uncertainty about these assumptions and estimates may end in outcomes that require a fabric adjustment to the carrying quantity of property or liabilities affected in future intervals.
The numerous judgments, estimates and assumptions made when making use of the Group’s accounting insurance policies are the identical as these utilized to the consolidated monetary statements for the yr ended 31 December 2023. The numerous judgment in assessing the exploration and analysis property for the existence of indicators of impairment on the reporting date, that are set out in be aware 7.
Going Concern
The Group is in a pre-revenue part of improvement and till its transition to income technology and profitability the Group will probably be required to depend on externally sourced funding to proceed as a going concern, the Board recognises this situation could point out the existence of fabric uncertainties, which can forged vital doubt relating to the Group’s capability to proceed as a going concern. However, the Administrators have a demonstrated document of efficiently elevating capital elevating for initiatives and ventures of this nature and are assured in with the ability to safe the funding wanted for the Group to ship on its commitments and proceed as a going concern.
3. ADMINISTRATION EXPENES
Administration bills within the six months to 30 June 2024 totaled £2.8 million, of which roughly £0.9 million displays non-cash gadgets (2023: £1.2 million). Extra particularly, roughly £0.6 million displays a provision made in opposition to VAT in Chile which should be recoverable as soon as manufacturing begins (Be aware 8 offers additional element) (2023: £0.6 million). Along with the non-cash VAT provision, roughly £0.6 million has been recorded as a share-based fee for choices traditionally issued and for warrants issued as part of the Mortgage Notes issued within the interval (additional element is about out in Be aware 9) (2023: nil), these two gadgets have been off-set by the unrealised achieve on translation of the deferred consideration of 0.3 million (2023: nil).
Of the £1.9 million in money prices, roughly £0.5 million pertains to workers prices (2023: £0.5 million), £0.4 million pertains to promotion, public and investor relations and journey (2023: £0.7 million), £0.8 million pertains to authorized {and professional} (2023: £0.7million ) assist together with itemizing and compliance and insurance coverage prices, the stability of £0.2 million contains quite a lot of different and common administrative prices (2023: £0.1 million).
4. SEGMENTAL INFORMATION
The Group operates in a single enterprise section, being the exploration and analysis of mineral properties, actions that are undertaken in Chile the place all of the Group’s non-current property are held.
5. INCOME TAX
The accrued earnings tax expense continues to be £nil because the Group stays in a loss-making place. No deferred tax asset is recognised on these losses as a result of uncertainty over the timing of future income and positive factors.
6. LOSS PER SHARE
The calculation of fundamental loss per bizarre share is predicated on the loss after tax and on the weighted common variety of bizarre shares in difficulty throughout the interval.
A diluted loss per share assumes conversion of all doubtlessly dilutive Odd Shares arising from the share schemes. Potential bizarre shares ensuing from the train of warrants and choices have an anti-dilutive impact as a result of Group being in a loss place. In consequence, diluted loss per share is disclosed as the identical worth as fundamental loss per share.
Unaudited ix months to 30-Jun-2024 |
Reviewed six months to 30-Jun-2023 |
||
Fundamental and diluted loss per share |
£ |
£ |
|
Loss after taxation |
(2,861,194) |
(3,273,006) |
|
Fundamental weighted common variety of bizarre shares (thousands and thousands) |
145.16 |
105.66 |
|
Fundamental loss per share (GBP £) |
(0.020) |
(0.031) |
7. EXPLORATION AND EVALUATION ASSETS
Bills incurred up to now by the Chilean entities on feasibility research, mineral exploration and delineation have been capitalised as “exploration and analysis property” inside “non-current property” in accordance with the Group’s accounting coverage.
Exploration and analysis property |
Unaudited six months ended 30-Jun-2024 |
Audited 12 months ended 31-Dec-23 |
£ |
£ |
|
Opening stability |
13,710,413 |
5,317,412 |
Additions |
19,795,670 |
9,383,902 |
Impact of international alternate translations |
(947,994) |
(990,901) |
Closing stability |
32,558,090 |
13,710,413 |
Of the £19.8 million in additions, roughly £15.9 million pertains to the truthful worth of deferred consideration for licences acquired beneath the LV Buy Settlement (refer Be aware 12), of which roughly £1.0 million was paid throughout the interval. An extra £0.1 million displays non-cash share-based funds made to workers and contractors, about which additional element is about out in Be aware 9. Different additions mirror the additions related to the capital programmes being undertaken throughout the interval. These additions have been off-set by unrealised international alternate positive factors of £0.9 million.
Impairment assessments
The Administrators assess for impairment when info and circumstances recommend that the carrying quantity of an exploration & analysis asset (E&E) could exceed its recoverable quantity. In making this evaluation, the Administrators have regard to the info and circumstances famous in IFRS 6 paragraph 20. In performing their evaluation of every of those components, at 30 June 2024, the Administrators have:
-
reviewed the time interval that the Group has the fitting to discover the world and famous no cases of expiration, or licences which might be anticipated to run out within the close to future and never be renewed;
-
decided that additional E&E expenditure is both budgeted or deliberate for all licences;
-
not determined to discontinue exploration exercise because of there being an absence of quantifiable mineral useful resource; and
-
not recognized any cases the place adequate information exists to point that there are licences the place the E&E spend is unlikely to be recovered from profitable improvement or sale.
Based mostly on the above evaluation, the Administrators are usually not conscious of any info or circumstances that may recommend the carrying quantity of the E&E asset could exceed its recoverable quantity.
8. TRADE AND OTHER RECEIVABLES
Unaudited as at 30-Jun-24 |
Audited as at 31-Dec-23 |
|
£ |
£ |
|
Prepayments and deposits |
144,586 |
570,936 |
VAT |
17,651 |
13,385 |
Different receivables |
17,752 |
26,557 |
Complete |
179,989 |
610,898 |
Prepayments and deposits largely mirror pay as you go insurance coverage and different business subscriptions which renew variously and yearly in addition to workplace rental deposit quantities paid.
Though VAT exhibits a stability of roughly £18k at 30 June 2024, at that date roughly £2.4 million in Chilean VAT recoverable just isn’t proven within the desk above. Though the Chilean VAT is anticipated to be eligible for refund in future, as a result of uncertainty over the timing of future manufacturing and revenues, which might set off the Group’s eligibility to recuperate that VAT, the Administrators have made full provision in opposition to this identical quantity. Accordingly, roughly £0.6 million provision has been mirrored within the earnings assertion for the interval ended 30 June 2024 (refer Be aware 3).
Different receivables comprise a number of smaller working capital balances in Chile.
9. SHARE BASED PAYMENTS
On 30 June 2024, a complete of 4,380,181 warrants attaching to Mortgage Notes issued (refer Be aware 11) have been granted. No different warrants or choices have been granted, exercised, forfeited or allowed to lapse throughout the six months to 30 June 2024.
Unaudited Six months ended |
Audited 12 months ended |
|
30-Jun-24 |
31-Dec-23 |
|
# |
# |
|
Excellent at begin of interval |
34,362,750 |
10,984,745 |
Share choices granted |
– |
3,283,000 |
Warrant shares granted |
4,380,181 |
21,876,005 |
Share choices exercised |
– |
(1,100,000) |
Share choices revoked or forfeited |
– |
(681,000) |
Excellent at finish of interval |
38,742,931 |
34,362,750 |
All choices and warrants are granted in Firm’s identify. Share choices granted have a weighted common train value of 47 pence and warrant shares granted have a weighted common train value of 34 pence.
The truthful worth of every possibility granted within the interval was estimated on the grant date utilizing the Black Scholes possibility pricing mannequin. The next assumptions have been used:
Honest worth of name possibility per share |
£0.12 – 0.38 |
Share value at grant dates |
£0.39 – 0.55 |
Train value |
£0.01 – 0.57 |
Anticipated volatility |
98% |
Vesting interval |
4.7-5.0 years from vesting |
Danger-free rate of interest (based mostly on authorities bonds) |
4.16% |
The whole share possibility truthful worth cost throughout the six months to 30 June 2024 is £198k (2023 £779k), of which roughly £86k has been recorded within the earnings assertion as a non-cash worker expense; the stability has been recorded inside E&E. The whole warrant shares truthful worth cost throughout the six months to 30 June 2024 was roughly £506k (2023: £27k).
As famous, these truthful worth estimates derived thorough Black-Scholes modelling and Monte Carlo simulations are non-cash accounting entries.
10. PAYABLES, PROVISIONS AND ACCRUALS
Unaudited at |
Audited at |
|
at 30-Jun-2024 |
At 31-Dec-23 |
|
£ |
£ |
|
Commerce and different payables |
(863,526) |
(291,369) |
Different taxes and social safety |
(43,024) |
(60,268) |
Provisions |
(99,067) |
(106,451) |
Accruals |
(488,579) |
(272,262) |
Complete |
(1,494,196) |
(730,350) |
Commerce and different payables embody routine commerce collectors.
Different taxes and social safety balances largely relate to people-related prices and taxes balances on the interval finish. Accruals embody routine accruals for skilled companies rendered not invoiced at interval finish.
11. LOAN NOTES
Shortly after the interval finish, CleanTech acquired the money generated from issuing Mortgage Notes previous to 30 June 2024.
On 30 June 2024 the Firm executed a GBP mortgage be aware instrument and an AUD mortgage be aware instrument pursuant to which it issued mortgage notes to subscribers to boost A$3.995 million, roughly £2.1 million, to finance working capital and prices related to ASX admission. As well as, the Mortgage Be aware holders have been granted with a complete of 4,380,181 warrants valued at roughly GBP £506,000 on the date of grant. As there aren’t any vesting circumstances hooked up to the warrants, the entire worth has been expensed as a non-cash truthful worth accounting adjustment (refer Be aware 9)
Though the Mortgage Notes have a maturity date of 30 June 2025, the Firm shall redeem the Mortgage Notes at par along with the relevant premium on the sooner of the Maturity Date or 10 days following completion of any fairness fundraising by the Firm of a minimum of AUD $5.0 million. The premium payable on redemption relies on when redemption happens as follows: the Mortgage Notes carry a premium of 15% if the Mortgage Notes are repaid inside three calendar months; or a premium of 25% if the Mortgage Notes are redeemed between 4 and 6 calendar months; or a premium of 40% if the Mortgage Notes are redeemed between seven and 9 calendar months; or a premium of fifty% if the Mortgage Notes are redeemed between ten and twelve calendar months. The Mortgage Notes are unsecured, nonetheless if they aren’t redeemed on or prior to a few months from their date of difficulty, the Firm has agreed to make use of greatest endeavours to grant or procure to grant the be aware holders a primary rating cost over each all of the property and undertakings of the Firm and your entire issued share capital of CTL UK.
12. DEFERRED CONSIDERATION
Laguna Verde Choice buy-out
On 19 April 2024, CleanTech Laguna Verde SpA, an entirely owned Chilean subsidiary of CleanTech Lithium Plc, entered right into a sale and buy settlement (LV Buy Settlement) to accumulate 100% authorized and useful curiosity within the mining licences traditionally held by CleanTech beneath possibility beneath the phrases of the LV Choice Settlement. The LV Buy Settlement had the impact of terminating the LV Choice Settlement.
Pursuant to the LV Buy Settlement the consideration payable contains mounted funds totaling US$10.5 million, that are scheduled to happen a varied annual and semi-annual millstone intervals over a interval of as much as 5 years from the date of the LV Buy Settlement, and two deferred funds, totaling US$24.5 million, scheduled to happen upon offered manufacturing reaching 10k tonnes of LCE and 35k tonnes of LCE respectively or on the tenth anniversary of the date of the LV Buy Settlement, whichever is the sooner.
The carrying worth for the LV licences acquired pursuant to the LV Buy Settlement, has been designated as an asset acquisition in accordance with the Group accounting coverage and assigned a good worth in accordance with the ideas of the UK IASs. Equally, the Group has assigned a good worth to the deferred consideration related to the acquisition which is allotted between present and non-current liabilities.
In assessing the suitable foundation on which to find out the truthful worth of the non-current part of the deferred consideration, the Administrators have used a reduction charge of 8% which they imagine is reflective of the components that market individuals would contemplate within the pricing of such a legal responsibility in addition to the foreign money by which the cashflows are denominated. That is in step with the necessities of IFRS 13 – Honest Worth Measurement.
As described above, the 2 remaining funds of the deferred consideration, totaling USD$24.5m, are required to be made upon reaching sure manufacturing milestones, however in any occasion, are required to be made inside 10 years of execution of the LV Buy Settlement. Because of the uncertainties surrounding the timing of reaching the manufacturing milestones, the Administrators have assumed that the remaining two funds will probably be made on the tenth anniversary of signing the LV Buy Settlement.
Unaudited at 30-Jun-24 |
|
£ |
|
Deferred consideration, present |
988,784 |
Impact of international alternate variations on present deferred consideration |
(4,376) |
Deferred consideration, present |
984,408 |
Deferred consideration, non-current |
13,894,931 |
Impact of international alternate variations on non-current deferred consideration |
(329,630) |
Deferred consideration, present |
13,565,301 |
Complete |
14,549,709 |
13. SUBSEQUENT EVENTS
Issues regarding occasions occurring since Interval finish are reported on within the part entitled Chairman and Chief Government Officer’s Assertion.
**ENDS**
For additional info contact: |
|
Steve Kesler/Gordon Stein/Nick Baxter |
Jersey workplace: +44 (0) 1534 668 321 Chile workplace: +562-32239222 |
Or through Celicourt |
|
Celicourt Communications |
+44 (0) 20 7770 6424 |
Beaumont Cornish Restricted (Nominated Adviser) |
+44 (0) 20 7628 3396 |
Canaccord Genuity (Joint Dealer) |
+44 (0) 20 7523 4680 |
Fox-Davies Capital Restricted (Joint Dealer) |
+44 (0) 20 3884 8450 |
Daniel Fox-Davies |
Notes
About CleanTech Lithium
CleanTech Lithium (AIM:CTL, Frankfurt:T2N, OTCQX:CTLHF) is an exploration and improvement firm advancing lithium initiatives in Chile for the clear power transition. Dedicated to net-zero, CleanTech Lithium‘s mission is to change into a brand new provider of battery grade lithium utilizing Direct Lithium Extraction know-how powered by renewable power.
CleanTech Lithium has two key lithium initiatives in Chile, Laguna Verde and Viento Andino, and exploration stage initiatives in Llamara and Arenas Blancas (Salar de Atacama), situated within the lithium triangle, a number one centre for battery grade lithium manufacturing. The 2 most superior initiatives: Laguna Verde and Viento Andino are located inside basins managed by the Firm, which affords vital potential improvement and operational benefits. All 4 initiatives have good entry to present infrastructure.
CleanTech Lithium is dedicated to utilising Direct Lithium Extraction with reinjection of spent brine leading to no aquifer depletion. Direct Lithium Extraction is a transformative know-how which removes lithium from brine with increased recoveries, quick improvement lead occasions and no intensive evaporation pond development. www.ctlithium.com
Glossary
CLS Pty |
Chilean Lithium Salars Pty Restricted (Australian overhead firm now wound-up and deregistered) |
CLSH |
Chilean Lithium Salars Holdings Restricted (Australian holding firm now wound-up and deregistered) |
CTL Ltd |
CleanTech Lithium Ltd; U.Ok. registered and tax domiciled firm |
CTL Plc |
CleanTech Lithium Plc; Jersey registered and tax domiciled firm |
DLE |
Direct lithium extraction |
EIA |
Environmental Affect Evaluation |
ESG |
Environmental, Social and Governance |
Group |
CleanTech Lithium statutory group |
IPO |
Preliminary public providing |
JORC |
The JORC Code offers a compulsory system for the classification of minerals Exploration Outcomes, Mineral Assets and Ore Reserves in response to the degrees of confidence in geological information and technical and financial concerns in public studies |
LCE |
Lithium carbonate equal, business normal terminology used to check totally different types of lithium compounds |
LSE |
London Inventory Change |
MoU |
Memorandum of Understanding |
mg/L |
micrograms per litre |
Professional forma Group |
Non-statutory professional forma group as outlined within the notes to the monetary assertion |
This info is supplied by RNS, the information service of the London Inventory Change. RNS is authorized by the Monetary Conduct Authority to behave as a Major Info Supplier in the UK. Phrases and circumstances regarding the use and distribution of this info could apply. For additional info, please contact rns@lseg.com or go to www.rns.com.
SOURCE: CleanTech Lithium plc
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