Lithium Australia NL (ASX:LIT) has announced it’s quarterly activities report and quarterly cashflow.
As quoted in the press release:
Highlights
- LIT produces lithium hydroxide from its Lepidolite Hill (Western Australia) lithium carbonate. Final reconciliations
- 100% success rate in LITCB to LITCC conversion program
- LIT executes memorandum of understanding to jointly develop lithium extraction technologies at the Electra Project with samples containing lithium now collected
- Geochemical surveys completed at Lepidolite Hill
- Geochemical surveys commenced at Pilgangoora
- Appointment of consultants to spearhead lithium clay processing
- Successful capital raisings during and after quarter end including first institutional shareholder
- Research initiated on LIT
- Subsequent to quarter end, LIT has raised funding of $6.5m
SUMMARY
Lithium Australia (“LIT”) is the only company actively pursuing the production of battery-grade lithium carbonate and lithium hydroxide from micas with a cost competitive processing technique. This gives LIT significant ‘first mover’ advantage, as does the exclusive nature of its extraction technology licenses.
Western Australia’s lithium mica deposits remain LIT’s exclusive domain, while the first of its global licenses has been allocated to the giant Cinovec deposit in the Czech Republic.
Meanwhile, LIT is assessing other projects worldwide and reviewing opportunities in Africa, Europe, the Americas and Australia.
Subsequent to quarter end, LIT has raised funding of $6.5m in 2 tranches with success in the attraction of its first institutional investor.
Connect with Lithium Australia NL (ASX:LIT) to receive an Investor Kit.
The post Lithium Australia’s December Quarter Proves Lithium Hydroxide Can Be Produced From Lithium Micas appeared first on Investing News Network.
