Battery Metals: Lake makes a splash with ‘ground-breaking’ lithium processing tech, leaps 60pc
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Lake soared +60 per cent this morning after confirming that its disruptive lithium brine processing tech works really well.
99.9 per cent battery grade lithium carbonate (that’s high) was produced with very low impurities (that’s very important) from the Kachi brine project using California-based Lilac Solutions’ potentially game changing tech.
Lithium carbonate with 99.9 per cent purity exceeds the industry standard specifications for battery-grade purity (+99.5 per cent).
Lilac’s direct extraction process returns processed brine to the aquifer once the lithium has been extracted, removing the need for traditional evaporation ponds, Lake says.
This addresses requirements from EV makers and battery makers for sustainable, scalable raw material supply chains.
This is potentially ground-breaking for the industry, Lake managing director Steve Promnitz says.
“We have demonstrated that a high-purity battery grade lithium carbonate can be produced using brines from Kachi after nine months of detailed test work,” he says.
“The critical development is the confirmation of very low levels of impurities which no doubt will be welcomed by potential off-takers.
“We are now focused on delivering greater volumes of battery grade lithium carbonate from Kachi brines and the pilot plant modules which will form the basis for more active engagement with potential off-takers increasingly focused on sustainability.”
Lake expects to release a prefeasibility study (PFS) on the low opex project within the next month.
Fellow Argentinean lithium play Argosy Minerals (ASX:AGY) has just received official approval to develop an initial ~2000-tonne-per-annum (tpa) operation at the Rincon project. The company says it will now “escalate ongoing discussions with a number of potential capital providers”.
Based on Argosy’s current plans, the ~2,000tpa processing plant will take about 12-15 months to build from commencement, with a three-to-four-month commissioning period thereafter. The budgeted capital expenditure is estimated at ~$US14.3m ($20.8m).
The stock – which is down 45 per cent over the past 12 months – nudged 5 per cent higher in morning trade.