Wednesday, June 22, 2022

Cypress Development (CYDVF)
Hitting Major Milestones

Mark Reichman, Senior Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Direct lithium extraction working well. Cypress announced favorable results from the direct lithium extraction (DLE) portion of its pilot plant in Nevada. Lithium extraction begins in the pilot plant with acid leaching a slurry of lithium-bearing claystone. Recoveries in the pilot plant are meeting expectations with lithium extraction from claystone in the 80% to 85% range. The lithium solution from leaching undergoes several steps before entering the DLE process. Within the DLE portion of the pilot plant, assays received from samples collected during continuous operating cycles in March, April, and May 2022 revealed an average lithium recovery of 99.5%, along with over 99% rejection of major impurities. In our view, these results affirm the commercial viability of extracting lithium from Nevada claystone.

Technology license acquired. The direct lithium extraction process is one function of the pilot plant using a proprietary process and equipment acquired from Chemionex, Inc. With the release of one million Cypress shares held in escrow to Chemionex, Cypress has now acquired full ownership of the equipment and a royalty-free license in perpetuity to use the technology at its pilot plant and at the company’s Clayton Valley lithium project….

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.