Cleantech Lithium Share News (CTL)

(Alliance News) - CleanTech Lithium PLC on Thursday said the results of its scoping study at the Laguna Verde project has confirmed the project's "outstanding economics and ESG credentials".

CleanTech Lithium is a London-based, Chile-focused exploration and development company. It aims to produce material quantities of battery grade lithium by 2024 in order to offer the European electric vehicle market a green lithium supply.

The company said the study indicated an operational life of 30 years, based on an annual production of 20,000 tonnes of battery grade lithium carbonate.

The study calculated post-tax cash flows of USD6.3 billion over the mine's operational life, with a low operating cost of USD3,875 per tonne of lithium carbonate, CleanTech said. The study indicated a post-tax net present value for the project of USD1.83 billion and an internal rate of return of 45%.

CleanTech said the Laguna Verde project has industry leading environmental, social and governance credentials, partially due to the use of renewable energy for processing power via the Chilean grid.

The company said it is aiming to commence production in late 2025.

Chief Executive Officer Aldo Boitano said: "The scoping study provides added confidence in the robust economics of the Laguna Verde project; based on low operating and capital costs, with a post-tax NPV of USD1.83 billion and IRR of 45.1%, and a payback period of 1 year and 8 months. The study further advances the process and technical design concept for the project, with strong ESG principles incorporated at each step. With the completion of this study, the company is proceeding to a pre-feasibility study for the project."

CleanTech shares were down 2.0% trading at 37.25 pence per share on Thursday morning in London.

By Harvey Dorset, Alliance News reporter

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