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3 시간 전
DLE units.
Phase 2 will immediately expand the facility with additional commercial-scale DLE units.
https://www.linkedin.com/posts/arizona-lithium-limited_lithium-ugcPost-7293055317293027328-x6hr?utm_source=share&utm_medium=member_desktop
Arizona Lithium (ASX:AZL) is pleased to provide a progress update for the commercial scale proof of concept facility at Pad #1 and further outlay the development plan for the Prairie Project. The Prairie Project will be put into production across three phases of development. Phases I, II, and III represent the methodical steps being taken to cost-effectively bring the project into production while minimising the risk associated with commercialising a first-of-its-kind process.
????????????????????
• Updated strategic phased development plan has been implemented for the Prairie Lithium Project.
• Phase I will see the Prairie Lithium Project go into production at Pad #1 using a commercial-scale DLE unit capable of producing 150tpa of Lithium Carbonate Equivalent (LCE).
• To get into production, only AUD35m (USD22m) required to spend on Phase 1 CAPEX.
• Non-dilutive capital initiatives currently being considered with multiple potential strategic partners completing extensive due diligence on the Prairie Lithium Project, in addition to existing Government grants and loans being considered as well as traditional debt financing solutions.
• First commercial production marks the first Company in North America to reach this milestone.
• De-risking by a commercial scale proof of concept allows production to be increased by rapid replication of the process at Pad #1.
• Construction work will commence at Pad #1 in Q2 2025.
• Phase 2 will immediately expand the facility with additional commercial-scale DLE units. Additional units can be rapidly deployed to increase production at Pad #1. Phase III will see the Pad design replicated across the already drilled and de-risked Pad #2, and Pad #3. Additional Pad locations are also being finalised in 2025.
• Grey Owl Engineering has been engaged for facility engineering, procurement, and construction (EPC). Grey Owl is a leading Western Canadian oil & gas facilities engineering company.
• The Prairie Lithium Project in Canada is perfectly positioned to feed battery-grade lithium carbonate into the mature Asian battery market. Battery-grade samples produced from the Prairie project are currently being distributed and tested in Asia.
Read more: https://lnkd.in/gQ3Xap73
📺 Watch video: https://lnkd.in/gJXtyFaW
$AZL hashtag#Lithium Paul Lloyd
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5 일 전
Iris Jancik
CEO - International Battery Metals (IBAT)CEO - International Battery Metals (IBAT)
https://www.linkedin.com/posts/iris-jancik-49756556_the-paradox-of-trumps-critical-minerals-activity-7290495913783898113-_RuJ?utm_source=share&utm_medium=member_desktop
29 years. That’s how long it takes for a U.S. lithium mine to go from discovery to production. Too slow to meet demand.
IBAT is changing the game. Our commercial, proprietary modular Direct Lithium Extraction technology is built, deployed and operational in as little as 18 months, far faster than the 5-7 years for other DLE projects or up to 15 years for hard-rock mining. Our Utah plant proved it—commercial operations and production, from deployment to commissioning in just three months.
Yet, as this Heatmap story shows, the conversation still ignores DLE. It’s time to move beyond slow, resource-intensive mining and embrace faster, more sustainable solutions.
IBAT’s proprietary technology is the alternative. We’re ready to deliver.
https://lnkd.in/gprCwaAR
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1 주 전
21 JANUARY 2025
QUARTERLY ACTIVITIES REPORT FOR THE
PERIOD ENDING 31 DECEMBER 2024
https://wcsecure.weblink.com.au/pdf/PFE/02904763.pdf
? Continued increases in landholding with the total current landholding now 26,000+ net
acres (34,900 gross surface acres) with an additional 24,000 acres of exclusive abstract
acres still available
? Pantera stands as the largest listed acreage holder outside of industry majors like Exxon,
Albemarle, Standard Lithium and Equinor
? Increased aggressive leasing continues around and specifically to the west of the Pantera
acreage position by both current Smackover players along with PE backed private groups
? A re-entry well commenced in November 2024. The collection of lithium brine samples via
this well proved to be problematic due to unreported drill string left in the well and was
subsequently abandoned. The abandonment decision was made based on the high risk of
capital cost blow out and preservation of shareholder funds
?[color=red] Planning of the first standalone well locations has been brought forward to early 2025. This
will facilitate the collection of lithium brine samples for assaying and DLE testing. These
wells can then be converted into a future production or disposal well.[/color]
? Pantera successfully completed pro-rata non-renounceable entitlement offer, raising
$2,084,647 from new and existing shareholders. PFE offered eligible shareholders to
subscribe for new shares on the basis of one new share for every four shares held, at an issue
price of $0.022, together with one free option for every two new shares applied for,
exercisable at $0.05 on or before 3 years from the date of issue.
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1 주 전
Does DLE and new batteries (AMPX), combined make a Jevons Paradox?
https://www.linkedin.com/posts/james-crouch_for-anyone-who-wants-a-break-in-their-social-activity-7290114504753856513-svmc?utm_source=share&utm_medium=member_desktop
Jevons Paradox explains a fascinating - and often misunderstood - economic phenomenon: when advancements in a resource-dependent technology make it more resource-efficient to use, total consumption of that dependent resource can actually go up, rather than down.
The paradox was first described in the 19th century by economist William Stanley Jevons when he observed that improvements in the efficiency of coal engines led to increased coal demand. Essentially, because the resource became cheaper to use, it became more accessible to the masses and, therefore, more widely used, resulting in overall higher consumption.
It's a bit like when you promise yourself that you will start paying more off your mortgage when you get your next pay rise; but when you eventually get the pay rise, you end up moving to a bigger house with a bigger mortgage!
Jevons Paradox has been observed extremely consistently throughout history, especially when the direct underlying resource is energy. However, awareness of the phenomenon remains low, despite its significant relevance to discussions on energy policy and the sustainable development of societies.
le-bon ton-roule
1 주 전
Thanks for the clarification, so I am used to IBAT using M.T. most of the time… Either way it's a substantial amount more than they advertise… IBAT normally in the past has referred to Lithium Chloride produced and more importantly it's now Lithium Carbonate at a dramatic increase in tonnage, might be time they update their website to let perspective customers know it's not 5,000 mt a year and could potentially be way over a 100,000 tons a year.
"The Company is anticipating that its patented design will allow access and a means to capitalize on diverse lithium-bearing brine resources. The current plant is capable of producing 5,000 metric tons of commercial-grade LiCl, on a lithium carbonate equivalent basis, each year. The same plant can be quickly expanded to produce up to 20,000 metric tons of LiCl per year, based on the capacity and unique composition of the brine resource."
https://www.ibatterymetals.com/news-category/ibat-announces-assembly-of-commercial-lithium-extraction-plant
https://www.prnewswire.com/news-releases/battery-for-energy-storage-systems-market-to-grow-by-usd-22-18-billion-2025-2029-transition-from-fossil-fuels-to-renewable-energy-drives-growth-report-on-ai-driven-market-evolution---technavio-302359010.html
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2 주 전
Pierre de Lapeyriere
CEO SORCIA Europe - ENSORCIA Group
https://www.linkedin.com/posts/pierre-de-lapeyriere_dle-lithium-energytransition-activity-7289674369537048579-8_NU?utm_source=share&utm_medium=member_desktop
Ensorcia Group and IBAT recently showcased their leadership in lithium technology at the Fastmarket European Raw Material conference 2024 in Amsterdam as platinum co-sponsors. Their modular DLE technology stands out as the sole proven solution at a commercial scale 🎖️ .
During the event, key figures from Ensorcia Group and IBAT took part in crucial panels:
👉 Daniel Layton, Chairman of Ensorcia Group and IBAT board director, discussed the potential for South America to emerge as Europe’s top sustainable lithium supplier by embracing responsible practices and maximizing available resources.
👉 Dr. John Burba, IBAT Founder and CTO of the world's first operational modular DLE system at a commercial scale, delved into the future of direct lithium extraction in Europe, addressing imminent sustainability challenges.
IBAT also released a Case Study highlighting its successful Commercial DLE Operations, revealing impressive production metrics. The company's unmatched position in the lithium industry is evident, with the ability to produce 25 tons of high-purity lithium battery-grade carbonate in just a few weeks from heavily contaminated synthetic brines. Noteworthy is the rapid time-to-market deployment, accomplished in less than 5 months, despite the complexity of resources.
👉 Check out the Case Study for more details: [Link to Case Study](https://shorturl.at/kkf2k)
As we step into January 2025, the industry faces the looming specter of a lithium shortage in the next 3 to 4 years. The time is ripe for swift action to bolster efficient lithium supply.
Ensorcia stands out not only for its access to quality lithium brine resources but also for its proven industrial solutions spanning from DLE to refining. These solutions are not only quick ⏳ to implement and cost-effective 💲 but also ensure high-grade battery quality ✅ , all while prioritizing sustainability 🌍 !
hashtag#DLE hashtag#Lithium hashtag#EnergyTransition hashtag#Batteries hashtag#Ensorcia hashtag#IBAT hashtag#Materials hashtag#FastMarket
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2 주 전
Pierre de Lapeyriere
CEO SORCIA Europe - ENSORCIA Group
1h • Edited • 1 hour ago
https://www.linkedin.com/posts/pierre-de-lapeyriere_fmf-energytransition-lithium-activity-7289635285473124352-oOb8?utm_source=share&utm_medium=member_desktop
Ensorcia Group had the privilege to participate in the esteemed Future Minerals Forum (FMF) 2025 in Saudi Arabia. The event served as a pivotal platform for global stakeholders in the mineral sectors to converge, fostering collaboration and innovation within this crucial industry.
Saudi Arabia's Vision 2030 strategy, a focal point of the forum, underscores the nation's commitment to nurturing comprehensive value chains in the mineral sector. Particularly noteworthy is the Kingdom's dedication to bolstering industrial ecosystems, notably in lithium, where Ensorcia Group excels with its leading DLE technology. This strategic direction aims to diminish reliance on Asian markets, fortify Saudi Arabia's autonomy, and empower global partners, encompassing Europe and the Americas.
Throughout FMF 2025, Ensorcia Group engaged with key ministries and prominent entities such as the Ministry of Industry, Saudi Invest, Exim Bank, Maa'den, Aramco, and other esteemed organizations. These interactions epitomized a collaborative ethos and a shared vision for propelling the mineral and industrial domains forward.
The impeccable organization of the event, coupled with Saudi Arabia's unparalleled hospitality, cultivated an inspiring milieu for substantive discussions and strategic alliances. Ensorcia Group eagerly anticipates further cooperation with Saudi Arabia and its partners to contribute to the advancement of sustainable and sovereign mineral value chains.
Heartfelt appreciation is extended to Saudi Arabia for hosting this exceptional forum and for its steadfast support in shaping the trajectory of the global mineral industry. The prospect of advancing together in the lithium industry is eagerly anticipated.
hashtag#FMF hashtag#EnergyTransition hashtag#Lithium hashtag#DLE hashtag#CriticalMinerals hashtag#Batteries hashtag#EV hashtag#Sustainable
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2 주 전
Excited to be speaking at the CERAWeek Innovation Agora this March 10-14! The Agora is an incredible space for innovation, bringing together technologists, entrepreneurs, investors and policymakers to tackle the biggest challenges in energy and sustainability.
I’m looking forward to sharing how IBAT’s proprietary modular DLE technology is key to creating a U.S. lithium industry, onshoring North America’s battery supply chain, and supporting a cleaner, more resilient energy future.
Honored to be part of such an inspiring program—hope to see you there! hashtag#CWAgora
https://www.linkedin.com/posts/iris-jancik-49756556_cwagora-activity-7288569921699991552-jWP1?utm_source=share&utm_medium=member_desktop
gregcod
3 주 전
You are spot on with the fact that those 200 plus employees from that US Mag plant need to continue on their great work with IBAT..They achieve great success thruout with a very large amount of contaminated brine at the US Mag plant, with the results being that the tech was tested/ improved, and the absorbent fibers proved to be highly durable..and efficient in extracting high grade 98% pure lithium bi.. Now that IBAT is battle tested and proven at the commercial scale level.IBAT ..IMO will hook up not only in the smackover regions, but possibly in Canada,East Texas, ..and more..The proof is in the pudding said another wise man here .Great point Trader.Hire up those laid off US Mag workers.
TradingCharts
3 주 전
Iris Jancik reposted this
International Battery Metals Ltd.
https://www.linkedin.com/posts/international-battery-metals_we-agree-with-jigar-shahthat-the-us-must-ugcPost-7285760822344065024-P0Te?utm_source=share&utm_medium=member_desktop
10h • 10 hours ago
We agree with Jigar Shah that the U.S. must build out its own lithium infrastructure and, to do so, unconventional technologies will carry the day. All eyes are on the Smackover Formation, where southwest Arkansas alone could hold as much as 19 million tons of lithium, according to USGS. We know the region well; 2022 testing there by Galvanic and IBAT showed up to 89% lithium recovery with our proprietary modular DLE system. Now, as the first commercial-scale DLE operator in North America with a mobile plant design, we are ready to roll and scale, including in the Smackover, to supply domestic lithium for EV batteries and grid storage.
Read more about our test here: https://lnkd.in/g3c4m9sP
TradingCharts
3 주 전
Barnaby Egerton-Warburton
https://www.marketscreener.com/insider/BARNABY-EGERTON-WARBURTON-A0SSKF/
https://www.modenaventures.com/
https://lordresources.com/board-and-management/
Copilot
Barnaby Egerton-Warburton is a prominent figure in the investment and mining sectors. He currently holds several key positions:
Executive Chairman & CEO at Pantera Minerals Ltd.: Pantera Minerals is involved in various mineral exploration projects, including lithium brine extraction.
Non-Executive Chairman at Arizona Lithium Ltd.: Arizona Lithium focuses on lithium exploration and development in the United States.
https://www.arizonalithium.com/about/board-management/
Non-Executive Director at NSX Ltd.: NSX is an Australian stock exchange.
Director at ClearPay Pty Ltd.: ClearPay provides payment solutions.
Non-Executive Director at Diablo Resources Ltd.: Diablo Resources is involved in mineral exploration.
Barnaby has over 25 years of experience in investment banking and international investment, with positions at JP Morgan, BNP Equities, and Prudential Securities. He is also the founder of Modena Ventures Pty Ltd., which provides bespoke financing solutions for founders and companies
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3 주 전
I looked at the transcript and at the 6:50 mark this was said, ringcon we were really at The Cutting.
So I asked copilot if Burba, ever worked there here is my coversation with copilot:
(Me) ringcon we were really at The Cutting
It sounds like you're referring to the work done by Rincon Lithium, which was at the cutting edge of Direct Lithium Extraction (DLE) technology. This technology is crucial for efficiently extracting lithium from brine sources, making the process faster and more cost-effective. Rincon Lithium was known for its innovative approaches in the lithium brine space, and their efforts have significantly contributed to advancements in the industry.
If you have more specific details or questions about Rincon Lithium or DLE technology, feel free to share!
(Me)Did John Burba ever work there and do you have a link for the management team and directors?
Yes, Dr. John Burba, often referred to as "The Godfather of Lithium," has been involved in various lithium extraction projects, including Rincon Lithium. He is known for his pioneering work in Direct Lithium Extraction (DLE) technology
For information about the management team and directors of Rincon Lithium, you can visit their official website. If you have any more questions or need further details, feel free to ask!
Cannot trust copilot😔
(Me)What year did John Burba work for Rincon Lithium?
Dr. John Burba has been involved in various lithium extraction projects throughout his career, but there is no specific information indicating that he worked directly for Rincon Lithium. He is known for his pioneering work in Direct Lithium Extraction (DLE) technology and has contributed to several lithium brine projects in North and South America.
Rincon Lithium Project
https://www.riotinto.com/operations/projects/rincon
SALAR DEL RINCÓN, SALTA PROVINCE, ARGENTINA
The Rincon Lithium Project – a large, low-cost lithium-brine asset located in the heart of the ‘lithium triangle’ in Argentina – will be a valuable source of rapidly produced, high-quality lithium for the global energy transition.
In December 2024, we announced our investment of US$2.5 billion to expand Rincon, representing our first commercial scale lithium operation. Rincon's capacity of 60,000 tonnes of battery grade lithium carbonate per year is comprised of the 3,000-tonne starter plant and 57,000-tonne expansion plant.
The project consists of brine extraction using a production wellfield, processing and waste facilities, as well as associated infrastructure. We’re using direct lithium extraction (DLE) technology, a process that supports water conservation, reduces waste and produces lithium carbonate more consistently than other methods.
This investment follows our achievement of producing first lithium at the Rincon 3000 starter plant in November 2024, only 32 months after completing acquisition of the greenfield project
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3 주 전
100% Owned PANTERA LITHIUM BRINE PROJECT
Ive never heard of this one unless they changed their name.
https://panterali.com/pantera-lithium-brine/
LITHIUM BRINE PROJECT
In December 2023, Pantera entered a Binding Implementation Agreement to acquire 100% of the Superbird Project Lithium Brine Project (renamed the Pantera Li Brine project) in the ‘Smackover Formation’ in Southwest Arkansas.
Directly abuts Exxon Mobil’s (NYSE: XOM) Lithium Brine Project.
Other major lithium brine players in the region include Standard Lithium (NYSE: SLI), Equinor (NYSE: EQNR) & Albemarle Corporation (NYSE: ALB) holding projects adjacent to Pantera.
Supported by 100 years of oil and gas production, expertise, and infrastructure in Arkansas.
Targeting Direct Lithium Extraction (DLE) Brine Project with Arkansas Smackover Brine containing elevated lithium concentrations (150-600+mg/L).
Close proximity to end users including major Gigafactories.
Here is the ASX link below.
https://www.asx.com.au/markets/company/pfe
32 views Nov 12, 2024
Drilling Commences: First well on Pantera's Smackover Lithium Brine Project initiated.
Pantera Minterals (ASX:PFE) - Investor Webinar - 30 September 2024
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3 주 전
January 15, 2025 Looks like the royalties must have been worked out.
I keep searching for the latest updates. Google seems to be better then AI.
https://www.magnoliareporter.com/news_and_business/lafayette_county/article_ae589fc0-d379-11ef-b3a9-731898e565ac.html
SWA Lithium, the joint venture between Standard Lithium Ltd. and Equinor ASA, said Wednesday, January 15, 2025 that it has successfully commenced drilling a new well into the Smackover Formation at its South West Arkansas Project.
The well is currently at a depth of approximately 8,000 feet below surface and has a targeted total depth of 9,600 feet. The well location is in Lafayette County, south of Lewisville.
SWA Lithium is also undertaking an extensive field program to re-enter the wells drilled in 2023 to conduct detailed reservoir testing and brine sampling work.
All data gathered from this new well will be used to inform the forthcoming front end engineering design (“FEED”) and Definitive Feasibility Studies (“DFS”).
The SWA team is also conducting an extensive field program at four wells in the proposed first area of operation, The work consists of well re-entry, hydraulic testing to determine reservoir characteristics, and brine sampling and testing. In addition, large volumes of brine have been collected from the International Paper Company (IPC-1) to allow the field-based pilot testing to be operated.
The company said in a statement that work has demonstrated that reservoir properties are better than previously gathered in the preliminary feasibility study, and also, where lithium brine samples have been sent off for third-party analysis, the lithium concentrations are higher than previously published. Key data will be made public when available, and all relevant data will be provided in the DFS later in 2025.
TradingCharts
3 주 전
Texas is where my guess would be.
Silver Creek Resources
https://www.silvercreekresources.co/
https://ca.finance.yahoo.com/news/international-battery-metals-ltd-announces-220000330.html
Jacob Warnock is the Founder & CEO of Silver Creek Resources, LLC, a company specializing in mineral and royalty acquisitions of high-growth oil and gas rights within top-tier U.S. basins. As CEO, he has overseen company operations and acquisitions in the Eagle Ford and Haynesville Shale since 2020. A serial entrepreneur, Warnock currently manages 18 companies and has over 20 years of experience establishing and overseeing numerous upstream oil and gas enterprises, along with multiple joint ventures across several US basins. Mr. Warnock's expertise extends to leasing, curative, permitting, surface operations, facility construction, pipelines, negotiations and strategic exits.
State Oil and Gas Commission unanimously denies royalty rate application for lithium extraction
by Phillip Powell
November 5, 2024
https://arktimes.com/arkansas-blog/2024/11/05/ark-oil-and-gas-commission-unanimously-denies-royalty-rate-application-for-lithium-extraction
The Arkansas Oil and Gas Commission denied the royalty rate application from five companies seeking to extract lithium-rich brine in south Arkansas, a move that will require the companies to come up with another rate proposal and that will cause more delays for the commercial extraction of the mineral.
The five companies – Standard Lithium, Exxon Mobil, Albemarle, Tetra Technologies, and Lanxess Corporation – proposed a rate of 1.82%, which landowners in south Arkansas have argued is too low. During a much anticipated nearly two-day Oil and Gas Commission hearing that began Monday in El Dorado, the companies presented hours of expert witness testimony to make their case for the proposed payout.
The Oil and Gas commissioners voted 9-0 Tuesday afternoon to deny the application. The rate would have been a minimum rate set for over 500,000 acres of land the lithium companies have leased. The royalty rate would be multiplied by the amount of lithium carbonate produced and the price of the lithium to determine an annual royalty payout to the mineral rights owners.
Commercial extraction cannot begin until a royalty rate is set. The companies submitted the application for the 1.82% proposal in July.
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3 주 전
PR Newswire Jan 14, 2025
International Battery Metals Ltd. Provides General Corporate Update
https://money.tmx.com/quote/IBAT/news/5316011258320731/International_Battery_Metals_Ltd_Provides_General_Corporate_Update
On November 26, 2024 , the Board approved the grant of an aggregate of 2,705,630 restricted share units of the Company (" RSUs ") to the directors of the Company in accordance with the Company's restricted share unit plan (the " RSU Plan "). Each director received a grant of 541,126 RSUs. The RSUs will fully vest one year from the date of grant and once vested, each RSU will settle into one common share of the Company. All such RSUs are subject to the terms of the RSU Plan, applicable securities law hold periods and the policies of the TSX Venture Exchange (the " TSXV ").
In connection with commencing her role as Chief Executive Officer of the Company on August 20, 2024 , Iris Jancik was granted 2,113,814 options of the Company (" Options ") in accordance with the Company's option plan (the " Option Plan "). Each Option is exercisable into one common share of the Company for a period of ten years from the date of grant at an exercise price of C$0.94 per share. The Options vest as follows: 600,000 on the date of grant, 252,302 on the last day of each of the first four periods of six months immediately following the date of grant and 252,303 on the last day of each of the first two periods of six months immediately following the second anniversary of the date of grant. All such Options are subject to the terms of the Option Plan, applicable securities law hold periods and the policies of the TSXV. Ms. Jancik was also granted 4,227,630 RSUs in accordance with the RSU Plan. The RSUs vest 300,000 on the date of grant with the remainder vesting in tranches on the completion of certain milestones as agreed to by Ms. Jancik and the Board. All such RSUs are subject to the terms of the RSU Plan, applicable securities law hold periods and the policies of the TSXV.
About International Battery Metals Ltd.
IBAT is an advanced technology company focused on the development of environmentally responsible methods of extracting lithium compounds from brine. IBAT has developed a patented modular direct lithium extraction plant (" MDLE Plant ") which allows for rapid deployment to a resource holder's production site. IBAT is working with resource holders of oilfield brines, brine aquifers, and industrial customers with brine by-products. IBAT believes the modular design of its MDLE Plant provides significant initial costs savings to customers and the proprietary direct lithium extraction technology lowers operating costs by selectively extracting lithium from the brine while efficiently removing contaminants.
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4 주 전
Page 2 Signed July 26, 2024
https://cases.stretto.com/public/X063/10210/PLEADINGS/1021007262480000000235.pdf
7. Stalking Horse. The Trustee has demonstrated a sound business justification for
the Court to approve (i) Meteor Energy, LLC or its designee as the Stalking Horse Bidder for the
Remnant Assets, and (ii) the payment of the break-up fee to Meteor Energy, LLC on the terms set
forth in the Asset Purchase Agreement and the Motion.
8. Break-up Fee. The break-up fee is fair and reasonable and was negotiated by the
parties at arm’s length and in good faith and is reasonable and appropriate in light of the size and
nature of the proposed Sale and the efforts that have been and will be expended even though the
proposed Sale is subject to higher and better offers.
9. Notice of Auction and Sale Hearing. The Notice of Auction and Sale Hearing, is
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4 주 전
Daniel Layton
Group Chairman @ Ensorcia Group | LithiumGroup Chairman @ Ensorcia Group | Lithium
3w • Edited • 3 weeks ago
https://www.linkedin.com/posts/daniel-layton-31740645_the-beauty-of-salta-impressive-how-argentina-activity-7274477156561293312-z04S?utm_source=share&utm_medium=member_desktop
The Beauty of Salta. Impressive how Argentina has been so progressive in the development of its lithium industry. I look forward to a long relationship.
Steven Howard
President / Sole Owner - Meteor Energy, LLC
Meteor Energy, LLC
The University of Texas at Austin
Dallas, Texas, United State
https://edisonlithium.com/edison-lithium-arranges-sale-of-majority-stake-in-argentinian-lithium-properties-for-us5-million/
December 19, 2023
Edison Lithium Arranges Sale of Majority Stake in Argentinian Lithium Properties for US$5 Million
Vancouver, British Columbia–(Newsfile Corp. – December 19, 2023) – Edison Lithium Corp. (TSXV: EDDY) (OTCQB: EDDYF) (FSE: VV0) (“Edison” or the “Company“) is pleased to announce that it has entered into a letter of intent dated December 18, 2023 (the “LOI“) with Meteor Energy, LLC (“Meteor“), an energy corporation based in Dallas, Texas, for the sale of 100% of the Company’s interest in its Argentina subsidiary, Resource Ventures S.A. (“ReVe“), in consideration for USD$5,000,000. Prior to the sale, ReVe will have first rolled out and retained the Pipanaco claims and one of the LEXI claims to be retained in a new subsidiary, as further described below. Pursuant to the LOI, the parties agreed to use commercially reasonable efforts to enter into a definitive agreement within 60 days to give effect to this transaction on terms and conditions acceptable to both parties.
Edison Lithium Announces Termination of LOI for Sale of Majority Stake in Argentinian Lithium Properties
Vancouver, British Columbia, June 10, 2024
https://edisonlithium.com/edison-lithium-announces-termination-of-loi-for-sale-of-majority-stake-in-argentinian-lithium-properties/
(“Edison” or the “Company”) announces the termination of its previously announced letter of intent with Meteor Energy, LLC, for the sale of 100% of the Company’s interest in its Argentina subsidiary, Resource Ventures S.A. (“ReVe”). ReVe controls the rights to prospective lithium brine claims in the province of Catamarca, Argentina. The Company is now in discussions with several other parties interested in acquiring the Company’s Argentinian lithium properties, but has not reached any further sale agreements as at the date of this news release.
The Company also announces that due to challenging market and financing conditions it is postponing the completion of its previously announced spin-out by way of plan of arrangement involving the Company’s wholly-owned subsidiary, Edison Cobalt Corp. (the “Spin-Out”) until further notice. The Spin-Out received court and shareholder approval earlier this year and remains subject to final acceptance by the TSX Venture Exchange.