- Critical Elements Lithium (TSXV:CRE), a top-performing Canadian lithium stock, has secured a 20-year mining lease with the Québec Ministry of Natural Resources and Forests for its Rose lithium-tantalum project
- A feasibility study for the property delineates an after-tax internal rate of return of 65.7 per cent and after-tax net present value of US$2.2 billion at an 8 per cent discount rate
- Critical Elements Lithium intends to supply lithium to the electric vehicle and energy storage system industries
- Critical Elements Lithium stock (TSXV:CRE) is up by 111.11 per cent over the past five years, which is more than twice the 52.45 per cent return of the iShares S&P/TSX Capped Materials Index ETF over the period
Critical Elements Lithium (TSXV:CRE), a top-performing Canadian lithium stock, has secured a 20-year mining lease with the Québec Ministry of Natural Resources and Forests for its Rose lithium-tantalum project.
The wholly owned Rose project is “one of the most advanced hard rock lithium projects in North America,” according to a statement released Monday, and the first to be advanced by the company within its 1,050 square kilometre land package.
A feasibility study for Rose’s production of spodumene concentrate estimates an after-tax internal rate of return of 65.7 per cent and after-tax net present value of US$2.2 billion at an 8 per cent discount rate. These figures are supported by Quebec’s low-cost, low-carbon power grid featuring 94 per cent hydroelectricity.
Management expects further resource growth from ongoing exploration, as evidenced by the discovery of numerous new spodumene-bearing pegmatite outcrops announced on Sept. 12, 2023.
Key milestones for the Rose project
- July 2019: The Pikhuutaau Agreement, which covers impacts and benefits of the project, signed with the Cree Nation of Eastmain, the Grand Council of the Crees (Eeyou Istchee) and the Cree Nation Government
- Aug 2021: A favorable decision statement from the federal Minister of the Environment and Climate Change following an environmental assessment
- May 2022: The approval by the Québec Ministry of Natural Resources and Forests of a rehabilitation and restoration plan
- Nov. 2022: The receipt of the Certificate of Authorization under Section 164 of Quebec’s Environment Quality Act, after the environmental and social impact assessment and review procedure under the responsibility of the Environmental and Social Impact Review Committee
“Today’s news represents one of the final steps towards the development of the Rose lithium-tantalum project. As of today, we can say that the regulatory process is for the most part behind us,” Jean-Sébastien Lavallée, Critical Elements Lithium’s CEO, said in a statement.
Critical Elements Lithium intends to supply lithium to the electric vehicle and energy storage system industries. Potential investors can learn more about the company’s flagship Rose project by reading our profile on the property from February 2023.
Critical Elements Lithium stock (TSXV:CRE) opened unchanged trading at $1.90 per share. The stock is up by 111.11 per cent over the past five years, which is more than twice the 52.45 per cent return of the iShares S&P/TSX Capped Materials Index ETF over the period.
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