- E3 Lithium (TSXV:ETL) has secured an option on a strategic brownfield site for its Clearwater project’s central processing facility, which will become Alberta and Western Canada’s first lithium production plant
- The project’s 2024 pre-feasibility study details an after-tax net present value (8 per cent) of US$3.7 billion
- E3 is a lithium company developing almost 20 million tons of lithium carbonate equivalent resources and reserves in Alberta and Saskatchewan
- E3 Lithium stock has given back 65.06 per cent year-over-year but has gained 135 per cent since 2019
E3 Lithium (TSXV:ETL) has secured an option on a strategic brownfield site for its Clearwater project’s central processing facility, which will become Alberta and Western Canada’s first lithium production plant.
The pioneering site, located in and optioned from Mountain View County, features accessible utilities and roadways, making it an optimal choice for lithium extraction and battery-grade lithium salts manufacturing for the North American battery supply chain. A phase 1 commercial environmental assessment for the site found no material issues.
Thanks to the similarities between oil and gas operations and E3’s direct lithium extraction process, the company will also benefit from Alberta’s energy industry workforce for drilling, construction and other operational roles.
E3 expects the Clearwater project to expand production across its portfolio and the province at large, unlocking momentum towards onshoring Canadian supply and meeting exponential demand for battery-grade lithium.
Clearwater’s 2024 pre-feasibility study details 1.13 million tons of lithium carbonate equivalent (LCE) proven and probable with an after-tax net present value (8 per cent) of US$3.7 billion and a 24.6 per cent internal rate of return.
According to Thursday’s news release, local landowners will receive additional details on the Clearwater project directly from the company in the coming weeks.
Leadership insights
“We have a significant opportunity to build the Clearwater project in an ideal location; repurposing an existing industrial site fits into the vision for E3,” Chris Doornbos, president and chief executive officer of E3 Lithium, said in a statement. “The site also happens to be easily accessible and surrounded by essential infrastructure for successful operations. This positioning is crucial for securing future growth pathways as the company develops into a key player in the expanding global lithium market in Western Canada.”
About E3 Lithium
E3 is a lithium company developing 16.2 million tons of LCE measured and indicated and 0.9 million tons LCE inferred in Alberta, as well as 2.5 million tons LCE inferred in Saskatchewan.
E3 Lithium stock (TSXV:ETL) opened with a loss of 1.05 per cent trading at C$0.94 per share. The stock has given back 65.06 per cent year-over-year but has gained 135 per cent since 2019.
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(Top photo of E3 Lithium’s direct lithium extraction pilot plant in 2023: E3 Lithium)
