CleanTech Lithium notes delay on Laguna Verde contract application

(Alliance News) - CleanTech Lithium PLC on Friday provided an update on the progress of its application for a special lithium operating contract for the Laguna Verde project in Chile.

Shares in CleanTech Lithium were down 2.6% at 9.50 pence each in London on Friday afternoon. The stock has fallen 68% over the past year.

The Jersey-based lithium exploration company had previously expected an update from the government at the beginning of April, to confirm which applicants would enter direct negotiations on the operating contract.

Submissions for applications closed at the end of January, following which the Ministry's IT and legal departments had five days to review the requests. After that, the Ministry's Lithium & Salar unit had 45 business days to evaluate applications.

CleanTech said it understands that the administration process is still progressing for all applicants, and will provide a further update "as soon as official communication is received".

"Clearly, the process is taking a little longer than we had initially anticipated but we look forward to the response when the Ministry has completed its review process," said Executive Chair & Interim Chief Executive Officer Steve Kesler.

By Emily Parsons, Alliance News reporter

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