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Lithium Australia NL
19:30 29 Jun 2016
Lithium Australia NL receive positive test results for
Sileach™ lithium processing
Lithium Australia NL (ASX:LIT) has confirmed extractions of greater than 90%
lithium from lithium bearing silicates during a test program with ANSTO
Minerals.
Price:
A$0.125
Market Cap:
A$35.56M
1 Year Share Price Graph
The quality of the lithium carbonate product appears suitable for further refining
to produce high purity battery-grade lithium carbonate.
The test program is optimising Lithium Australia's SileachTM process ahead of
pilot testing.
The positive test results come after the company recently made an agreement
with Pilbara Minerals Ltd (ASX:PLS) who will supply spodumene concentrate
for a pilot testing phase.
Subject to the success of pilot testing of concentrates, the parties have agreed
to establish the Sileach Joint Venture (SJV) with the aim of developing a
commercial Sileach™ processing plant.
Share Information
Code:
Listing:
52 week
High
0.265p
General Mining
Sector:
Sileach™
Website:
Sileach™ is a market leading metal extraction technology owned by Lithium
Australia.
The Sileach™ process is designed to recover lithium from silicates without the
expensive roasting step that has long been the main stay of the lithium
recovery process.
Testing on the Sileach™ process is continuing at ANSTO Minerals, which is in
its final stages ahead of initial pilot testing.
LIT
ASX
Low
0.073p
www.lithium-au.com
Company Synopsis:
Lithium Australia NL (ASX:LIT) is listed on
the Australian Securities Exchange.
Author:
Proactive Investors Ltd
+44 (0)207 989 0813
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Agreement with Pilbara Minerals
Initial pilot testing will take place at the ANSTO Minerals facility in New South
Wales after which the SJV partners may then elect to proceed with construction
of a larger-scale pilot plant, for which Port Hedland is currently the preferred
location.
Obligations of the parties as per the agreement are as follows:
Initial pilot tests at ANSTO Minerals
- LIT will cover the capital cost of pilot testing;
- PLS will supply the required spodumene concentrates for testing; and
- Operating costs for the tests will be split 50/50.
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Large-scale pilot testing
- Plant designed to produce commercial lithium carbonate and recover byproducts;
- LIT to cover capital cost of the plant;
- PLS to provide the spodumene concentrates; and
- Costs to be recovered as follows: Firstly recovering capital costs; Secondly
recovering operating costs; and Thirdly, paying PLS cost price for the
spodumene concentrate.
Definitive Feasibility Study
Data generated from operating the large-scale pilot plant will be used for
feasibility investigations into the construction of a full-scale commercial
Sileach™ processing plant.
Commercial Sileach™ processing plant
In the event of a positive outcome of the definitive feasibility study, the SJV will
advance to commercial production, including finance and construction, on a
50/50 basis.
Analysis
These positive test results bode well for the upcoming initial pilot test work with
Pilbara Minerals which aims to commercialise the Sileach™ process.
Test work shows the extraction of greater than 90% lithium which can then be
processed into a high quality lithium carbonate.
Lithium Australia's goal is to be a lowest quartile lithium carbonate producer.
By using the Sileach™ process to produce lithium carbonate from hard rock
lithium ores, which conventionally require energy intensive processing, it aims
to lower the cost of production.
The successful development of a commercial process to recover lithium from
spodumene would place Lithium Australia at the leading edge of the lithium
industry.
The company is positioned well within a strong lithium market, developing both,
processing technology that is potentially applicable on a global scale, and
growing a portfolio of lithium projects.
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The Business Centre 6 Wool House, 74 Back Church Lane
London, E1 1AF
United Kingdom Company No. 05639690
VAT No. 87207082