Watch the latest episode of focusIR Fireside Chats: Why Edinburgh Investment Trust Is Backing Turnaround Stocks for 2026 Growth. Viewhere

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksCadence Mineral Regulatory News (KDNC)

Share Price Information for Cadence Mineral (KDNC)

Share Price is delayed by 15 minutes
Get Live Data
5.50    0.00 (0.00%)
Bid:
5.00
Ask:
6.00
Spread: 1.00 (20.00%)
Market Cap: £22.51m
KDNC Live PriceLast checked at - London Stock Exchange

Intraday Cadence Mineral Share Chart

Western Lithium - Update

9 Sep 2014 07:00

RNS Number : 1331R
Rare Earth Minerals PLC
09 September 2014
 



 

9 September 2014

 

Rare Earth Minerals Plc.

 

("Rare Earth Minerals", "REM" or "the Company")

Western Lithium - Update.

Rare Earth Mineral Plc (AIM: REM) is pleased to announce that Western Lithium USA Corporation ("Western Lithium"), in which REM holds an approximate 2.29% interest, has announced that its 12 ton per day calcination demonstration plant is in production. This product will be shipped to Western Lithium's demonstration crystallisation and precipitation plant, which is expected to be operational in November 2014 with lithium compound production from the demonstration plant expected by the end of 2014. Western Lithium will include a lithium hydroxide circuit, in addition to planned production of lithium carbonate, to meet potential new industry requirements.

The purpose of the demonstration plant is to produce lithium carbonate and byproduct samples on pilot scale equipment for strategic investors and potential off-take partners to witness, and to complete a Feasibility Study showing the commercial viability of the project using Western Lithium's patented technology, in order to attract engineering and construction capital.

The Western Lithium news release is shown in full below.

Kiran Morzaria, the Company's Chief Executive Officer commented:

"REM is pleased with Western Lithium's progress towards the commercial production of Lithium compounds from their Kings Valley Lithium Project in Nevada, the USA state where Tesla Motor Corporation have recently announced their intention to build their first lithium-ion Gigafactory."

"To date, the majority of the world's lithium supply comes from brine and hard rock deposits. The Kings Valley Lithium Deposit in Nevada and the Sonora Lithium Deposit in northern Mexico present a potential alternative source of Lithium supply to a market that is estimated to grow significantly over the coming years driven primarily by the growth in the electric vehicle market."

- Ends -

For further information please contact: 

Rare Earth Minerals plc +44 (0) 207 440 0647

David Lenigas

Kiran Morzaria

WH Ireland Limited (NOMAD & Joint Broker) +44 (0) 207 220 1666

James Joyce

Nick Field

Hume Capital plc (Joint Broker) +44 (0) 203 693 1470

Guy Peters

Jon Belliss

Square1 Consulting

David Bick, Mark Longson +44 (0) 207 929 5599

 

 

Western Lithium USA Corporation News Release date 8 September, 2014:

 

NEWS Release

Western Lithium Advances Nevada Lithium Supply With Demonstration Plant Startup

RENO, NEVADA--(Marketwired - Sep 8, 2014) - Western Lithium USA Corporation ("Western Lithium", the "Company") (TSX:WLC)(OTCQX:WLCDF) is pleased to announce that it has commenced calcination of its lithium clays in the first of three planned campaigns to demonstrate the viability of extracting lithium on a large scale from its lithium-rich clay deposit in Nevada. The calcination is the first step to turn the lithium bearing clay into water soluble lithium sulphates, so that a brine can be produced through leaching. The 12 tons per day calcination plant is now operational, while the downstream leaching, crystallization and precipitation process is still under construction and expected to be operational in November 2014. The planned production of lithium compounds will continue through the fall and into the spring of 2015 to determine engineering parameters and equipment selection to complete a definitive feasibility study for the Company's US patented extraction process. Western Lithium will include a lithium hydroxide circuit, in addition to planned production of lithium carbonate, to meet potential new industry requirements.

 

The Company estimates that its planned annual production of up to 26,000 tonnes per year of lithium carbonate equivalent (LCE) would meet lithium demand for between 500,000 to over 1 million electric cars, depending on the size of the automotive lithium-ion batteries. Furthermore, Western Lithium's property hosts inferred and historical lithium resources that extend for over 20 miles across Federal mining lithium claims in Nevada. This mineralization has not been included in mine planning to date creating the potential, subject to upgrading of the resource confidence levels of the material and development studies, for production expansion.

 

"With dozens of automotive and consumer electronics companies now planning product expansions using lithium-ion batteries, there is a basic requirement for incremental production of non-substitutable lithium molecules," said Jay Chmelauskas, CEO of Western Lithium. "We see the potential for Nevada to become a major international hub for lithium production. Recently announced plans to develop the world's largest lithium-ion battery manufacturing facility within the State of Nevada, provides possible synergies between our businesses. The State has an opportunity to capture the innovation and invention that is taking place across the lithium sector, and our demonstration plant is the next step to establish new technology and to create another significant new business in Nevada."

 

Approximately 165 tonnes of lithium clay will be calcined with a mix of anhydrite and dolomite, all shipped from Nevada, at a rate of 12 tonnes per day to a facility in Weimar, Germany. The calciner is 1 meter in diameter by 12 meters long and instrumented and operated by experts in thermal technology. The crystallization and precipitation plant is under construction at a facility that was previously used for lithium pilot testing in Sondershausen, Germany, and is expected to be operational in November 2014. The Company has spent the last several years advancing its lithium project to be ready for a demonstration campaign. Starting in 2011, large diameter (0.9 meter) drillholes were completed through the center of its Nevada lithium deposit to secure large bulk representative ore samples. In 2012, the Company completed a pre-feasibilty study that supported the economic basis for production that could make Nevada into a major new supply source for lithium. A detailed design for a lithium demonstration facility was completed in 2013, and procurement, construction and commissioning of the lithium demonstration plant is on-going through November, 2014, with lithium compound production expected by the end of 2014.

 

The Company is also commissioning its Hectatone™ organoclay plant, located in Fernley, Nevada that is expected to begin imminent production of specialty drilling fluid additives. Mechanical commissioning of the plant is underway and first production is expected by November 2014, based on current startup progress.

 

 

About the Company

 

Western Lithium is pursuing the opportunity to be a supplier of specialty drilling additive, HECTATONE™ and potentially other organoclays for the oil and gas industry, and in particular, to support the growth of high pressure high temperature, deep directional drilling applications. The Company is also developing its Kings Valley, Nevada lithium deposit into a strategic, scalable and reliable source of high quality lithium compounds. The Company is positioning itself as a major U.S.-based supplier to support the rising global demand for lithium that is expected from the increased use of hybrid/plug-in and electric vehicles.

 

The scientific and technical information in this release has been reviewed and approved by Dennis Bryan, Senior Vice President of Development, a Qualified Person under the terms of NI 43-101. For further information about the pre-feasibility study on the King's Valley Project and the reserves and production plans contemplated thereunder, please refer to the Technical Report entitled Kings Valley Technical Report, Humboldt County dated May 9, 2014 filed on the Sedar profile of the Company.

 

Forward-looking statements

 

Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in the Company's periodic filings with Canadian securities regulators. When used in this document, the words such as "expected" and "planning" and similar expressions are forward-looking statements. Information provided in this document is necessarily summarized and may not contain all available material information.

 

Statements in this release that constitute forward-looking statements or information include, but are not limited to (i) the completion of relevant construction and the commencement of precipitation and calcination testing; (ii) the installation and testing of a lithium hydroxide circuit; (iii) the potential for production expansion; (iv) the development of battery manufacturing capacity in Nevada and synergies of such capacity with the Company's proposed operations; (v) the timing and success of demonstration plant testing; and (vi) the commissioning and production of the Hectatone Plant.

 

All such forward-looking information and statements are based on certain assumptions and analyses made by Western Lithium management in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. These statements, however, are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information or statements. Important factors that could cause actual results to differ from these forward-looking statements include those described under the heading "Risks Factors" in the Company's most recently filed MD&A. Readers are cautioned not to place undue reliance on forward-looking information or statements.

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
MSCSSAFAAFLSESU
Date   Source Headline
13th Oct 202110:27 amRNSEuropean Metals Cinovec Resource Upgrade
11th Oct 202111:05 amRNSSecond Price Monitoring Extn
11th Oct 202111:00 amRNSPrice Monitoring Extension
11th Oct 20219:05 amRNSSecond Price Monitoring Extn
11th Oct 20219:00 amRNSPrice Monitoring Extension
11th Oct 20217:00 amRNSBank Credit Committee Approval for Amapa Project
7th Oct 202112:19 pmRNSCastillo Litchfield Lithium Due Diligence Update
29th Sep 20217:01 amRNSOption Granted to Castillo to Acquire Projects
26th Aug 202112:00 pmRNSInterim Results
25th Aug 20213:58 pmRNSMacarthur Lake Giles Feasibility Study Progress
23rd Aug 20217:00 amRNSMacarthur Lakes Giles Feasibility Study Progress
18th Aug 20213:06 pmRNSYangibana Rare Earth Joint Venture Update
12th Aug 20212:39 pmRNSMacarthur Lake Giles Geotech Drill Programme
9th Aug 20219:39 amRNSMacarthur Strikes Additional Rail Haulage Deal
4th Aug 20212:28 pmRNSResult of AGM
3rd Aug 20213:59 pmRNSMacarthur Gold & Copper Asset ASX listing Update
29th Jul 20217:00 amRNSPositive Operational Progress at the Amapa Project
26th Jul 20219:50 amRNSApproval of further Amapa Iron Ore Shipment
21st Jul 202111:33 amRNSMacarthur Advances Lake Giles Feasibility Study
15th Jul 20219:17 amRNSMacarthur Signs DSO Purchase Term Sheet With GWR
9th Jul 20217:00 amRNSNotice of Annual General Meeting
8th Jul 20212:45 pmRNSMacarthur Minerals Closer to DSO Export Pathway
7th Jul 20217:00 amRNSMacarthur Moonshine Geotechnical Drill Programme
30th Jun 202110:37 amRNSMacarthur: Additional Tenure for Lake Giles
30th Jun 20217:00 amRNSResults for the year ended 31 December 2020
15th Jun 20215:09 pmRNSMacarthur & Jin Sung Intl - Strategic Agreement
14th Jun 20213:08 pmRNSMacarthur subsidiary Infinity set for ASX IPO
26th May 20214:27 pmRNSMacarthur Accelerates Lake Giles Mine Planning
19th May 20212:38 pmRNSEuropean Metals - Strong Locked Cycle Test Results
10th May 20217:31 amRNSSecond Iron Ore Shipment & Amapa Project Update
30th Apr 20213:42 pmRNSIssue of Options
23rd Apr 20212:00 pmRNSExercise of Warrants
16th Apr 20219:51 amRNSMacarthur Lake Giles Project Feasibility Update
6th Apr 20214:40 pmRNSSecond Price Monitoring Extn
6th Apr 20214:35 pmRNSPrice Monitoring Extension
1st Apr 20212:05 pmRNSSecond Price Monitoring Extn
1st Apr 20212:00 pmRNSPrice Monitoring Extension
1st Apr 202110:17 amRNSFirst Amapa Iron Ore Shipment Completed & En Route
29th Mar 20217:00 amRNSFirst Iron Ore Shipment From Amapa Since 2015
26th Mar 20214:01 pmRNSMacarthur - Re Lake Giles Groundwater Drilling
23rd Mar 202110:01 amRNSMacarthur Bolsters Feasibility Study Team
16th Mar 20219:44 amRNSMacarthur Lake Giles Feasibility Study Update
15th Mar 202110:12 amRNSForm TR-1 Notification
8th Mar 20211:14 pmRNSMacarthur Spins Out Pilbara Copper-Gold Assets
25th Feb 20218:33 amRNSMacarthur - Exclusive Agreement over Mining Leases
24th Feb 202112:56 pmRNSUpdate on Yangibana and JV Partner Funding
19th Feb 20218:05 amRNSUpdate on the Amapa Iron Ore Project
18th Feb 20217:00 amRNSMacarthur - Lake Giles consultancy appointments
10th Feb 20212:05 pmRNSSecond Price Monitoring Extn
10th Feb 20212:01 pmRNSPrice Monitoring Extension

Due to London Stock Exchange licensing terms, we stipulate that you must be a private investor. We apologise for the inconvenience.

To access our Live RNS you must confirm you are a private investor by using the button below.