Progress16 Sep 2024 08:06
What a terribly written RNS, full of waffle, BUT it does hold some definitive news. Below I’ve pasted the body of the RNS and then cut out the totally meaningless vague statements.
Our JV partner is completing its pilot-plant at a trusted site near Mumbai, India. Initial testing of samples is encouraging.
The Bolivian authorities have verbally agreed to bulk samples, to be collected and despatched with the assistance of state owned Yacimientos de Litio Boliviano (YLB) once formal negotiations are underway.
Stream 2' companies, with DLE technology close to production, are expected to be invited for negotiations shortly. Clontarf has been assigned to 'Stream 2' and its negotiators are already in Bolivia.
Strong interest in long-term offtake contracts for reliable, high purity clean Lithium from brines - at higher than current spot prices. (TB:but how much higher? $1 is “higher”. Give a %).
Clontarf has sourced the 320 IBCs (Intermediate Bulk Containers), to ship the bulk samples to Mumbai.
From Statement:
We originally planned to deploy a pilot-plant to one or more Bolivian salares during summer 2024. Because of logistics and weather issues, the Bolivian authorities opted for the operating companies to remain in their original plant location, until YLB could conduct due diligence visits.
The Clontarf Energy JV has submitted a proposed action plan for the coming months and years, subject to Bolivian rules and laws. We plan to collect samples from at least 2 salares; ideally one of high Lithium grade and one with both Lithium and Magnesium content. If we collect the samples during October 2024, they can be trucked to the nearest sea-port and shipped to our partners' Mumbai plant for January 2025 delivery. Clontarf Energy will meanwhile have completed the necessary Indian paperwork with our partners.
On arrival at our partners' plant, the Bolivian bulk samples will be expedited through the production process. We request a total of 320 tonnes since we plan to optimize recovery and throughput not just for Lithium, but also for Magnesium and other economic minerals.
This production process testing of the bulk samples and, hopefully including a YLB visit may be completed during February / March 2025.
Assuming positive results, we propose agreement negotiations as soon as appropriate.
Clontarf Energy is hoping to deploy a pilot plant (at a scale of 500 tonnes / year) to a Bolivian site for arrival by mid-2025 (i.e. 6 to 7 months after arrival of the bulk samples at the Indian plant), after which it will be promptly commissioned, connected to power and brine sources, under applicable laws and start work.
Longer-term, Clontarf Energy plans to deploy an additional production plant to a total of 5 separate salares, adding a new plant every 6 months. Our plant size will accord with any restrictions under law, initially at a scale of 500 tonnes / year.
But our long-term aim is to produce 150,000 tonnes of LCE by 2030.
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