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2021-03-17 by Proactive Australia
Infinity Lithium Corporation Ltd (ASX:INF)(FRA:3PM) welcomes the key priorities for the EU battery value chain as outlined in the 5th Ministerial Meeting of the European Battery Alliance on March 12, 2021, which enhance the position of its San José Lithium Project in Spain.
The meeting prioritised sustainable local sourcing and processing of raw materials used in batteries with the San José project in the spotlight.
A key issue was public funding aligned to raw materials through coronavirus recovery and resilience plans and through the European Investment Bank (EIB).
Strengthening local sourcing
European Commission vice-president Maroš Šefčovič stated that it was essential for Member States to strengthen the sustainable local sourcing and processing of raw materials used in batteries, calling for greater mobilisation of public funding under COVID-19 national recovery and resilience plans for raw and advanced materials.
2021-03-17 by Proactive Australia
Lake Resources NL (ASX:LKE)(OTCMKTS:LLKKF) has refreshed the pre-feasibility study (PFS) for its flagship Kachi Lithium Brine Project based on revised lithium price estimates, which demonstrates a more robust financial outcome than the original conservative PFS price assumptions.
Kachi s project value, as post-tax net present value (NPV), increases 110% to US$1.58 billion (A$2.1 billion), with a 35% internal rate of return (IRR) and annual EBITDA of US$260 million (A$350 million), using updated lithium price forecast of US$15,500/tonne for battery-grade lithium carbonate.
The clean lithium developer is also assessing the potential increase of lithium carbonate production at the Kachi Project, as demand continues to rise from battery makers for high purity product.
2021-03-16 by Proactive Australia
Galileo Mining Ltd (ASX:GAL) has completed diamond drilling at Lantern South prospect of the Fraser Range Project in WA with zones of heavily disseminated sulphide intersected from 110.5 metres to 111.35 metres and 169 metres to 171.3 metres.
The diamond drill hole was completed to check for mineralisation beneath reverse circulation (RC) drill hole LARC012 and to establish a platform for downhole EM surveying.
Downhole EM surveying will be undertaken to look for off-hole conductors at the Lantern South and Lantern East prospects. Correct components to form mineral deposit
Managing director Brad Underwood said: We have completed our first diamond drilling program of the year at Lantern East and Lantern South and continue to build up new targets for drill testing at our highly prospective Fraser Range Project.
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