Clontarf Share Price (CLON)

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“ The Company expects to complete testing on actual brine samples from more than one of the brine sites in Bolivia using the CPiTDE Pilot System during fiscal year 2025.”

Yep, posted as soon as it came out !

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Price: 0.0365

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NEW: Next ChemX filing of Form 10K

1 May 2025 01:14

Https://www.sec.gov/ix?doc=/Archives/edgar/data/0001657045/000164117225007847/form10-k.htm

Highlights:

Creation of the Partnership Company with Clontarf Energy plc

On February 21 2024, the Company formed the certain partnership company as a Nevada LLC as required in accordance with the Partnership Agreement signed March 27, 2023, between the Company and the UK AIM listed company Clontarf Energy plc (“Clontarf”). The new LLC is the 50:50 joint venture between the Company and Clontarf that will be the vehicle for the proposed deployment of the Company’s iTDE Technology in Bolivia.

On March 4 2024, Clontarf submitted the qualification materials for the partnership to the “Pública Nacional Estratégica Yacimientos de Litio Bolivianos” (the ‘National Strategic Public Company of Bolivian Lithium Deposits’ or “YLB”) in relation to the Call for Bids (“convocatoria”) for the seven priority salares (salt pans) in Southern Bolivia. Under the Partnership Agreement it is Clontarf’s responsibility to submit such bids on behalf of the partnership LLC.

On May 14, 2024, the YLB confirmed Clontarf in the partnership with the Company as one of the twenty-one approved companies moving into phase three of the ‘convocatoria’ process, which consists of five phases. While phase two focused extensively on evaluating state-of-the-art lithium extraction technologies, particularly emerging direct lithium extraction methods, phase three will involve assessing the financial capacity of the partnership with Clontarf. In this respect, Clontarf, responding to a recommendation of the European Commission, announced it had expanded its ‘Team Europe’ partnership to include financing and offtake partners representing key OEM manufacturers in the German Mittelstand.

Following Phase 3, the remaining two planned phases of the ‘convocatoria’ process are: Phase 4, wherein a detailed assessment will be carried out by YLB of extraction technology maturity and financial capacity; and finally, in Phase 5 the negotiation and signing of contracts will take place, for an initial exploitation phase. There remains a certain amount of uncertainty as the 2017 Bolivian Lithium Law is expected to be revised shortly.

The ‘convocatoria’ process will classify bids into ‘streams’ or categories dependent on readiness. Stream 1 comprises bids with existing operating direct lithium extraction (“DLE”) plants. Three 3 Chinese companies, and one Italian water purification company qualify for this category. The Company believes its CPiTDE system will fall into this category, as a stream 2 technology. This encompasses plants ready for production testing in 2025. Streams 3 and 4 comprise immature DLE technology or that still are under development and laboratory-stage processes, respectively.

The Compan

Refreshing to read confirmation of good progress, if a little delayed, by JV partner, Nextchem X. This is a complex venture, tangled within geopolitical and other complexities. Any forward progression has to be good news. Not too far adrift of time-lines, with the possibility of still going into production next year.