- E3 Lithium stock (TSXV:ETL) is in the green after completing more production tests at its direct lithium extraction field pilot plant in Alberta with positive results
- With an initial lithium recovery of more than 94 per cent, the company will now test for an extended operating period followed by the filing of a pre-feasibility study
- E3 Lithium intends to produce high-purity, battery grade lithium products from its 16-million-tonne measured and indicated resource
- E3 Lithium stock (TSXV:ETL) was up by as much as 6.67 per cent in early morning trading
E3 Lithium stock (TSXV:ETL) is in the green after completing more production tests at its direct lithium extraction field pilot plant in Alberta with positive results.
The company intends to produce lithium concentrate for downstream processing of battery-grade lithium hydroxide monohydrate, a key component in alkaline battery manufacturing.
The additional tests trialed numerous operating parameters to optimize for an extended operating period. Preliminary internal analysis and results include:
- Initial lithium recovery of more than 94 per cent
- Concentrate purity of more than 80 per cent
- Average lithium grade in concentrate of 916.6 mg/L
The results indicate that E3 can decrease the cycle time, which is the amount of time the sorbent is exposed to the brine during direct lithium extraction. This modification may reduce the commercial plant’s capital and operating costs.
The company will use the test results and learnings from the past six weeks of pilot operations to set the conditions for an extended operating period, which is expected to begin next week.
Upon completion of the extended operating period, E3 will be able to proceed with its planned pre-feasibility and definitive feasibility studies on the road to building its first commercial facility.
The company will share details about its successful production and ongoing refining of lithium hydroxide monohydrate over the coming weeks.
“We are thrilled to be able to provide further updates on the operations of the field pilot plant,” Chris Doornbos, president and CEO of E3 Lithium, said in a statement. “The plan we put in place to test various operating parameters has proved to be effective thus far. Not only have positive results been produced under several operating conditions, we have also grown our confidence to design the most efficient processes to commercialize our vast resource.”
E3 Lithium intends to produce high-purity, battery grade lithium products for global electrification. The company is developing an Alberta-based resource of 16 million tonnes of lithium carbonate equivalent measured and indicated and 0.9 million tonnes inferred.
Its Clearwater Lithium Project has an NPV8 per cent of US$1.1 billion with a 32 per cent IRR pre-tax and US$820 million with a 27 per cent IRR after-tax.
E3 Lithium stock (TSXV:ETL) was up by as much as 6.67 per cent in early morning trading. The stock is up by approximately 750 per cent over the past five years.
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