Friday, May 26, 2023
Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Consistency is key. Century Lithium produced lithium carbonate grading 99.87% from lithium-bearing claystone sourced from its Clayton Valley Lithium project. Several kilograms of high purity lithium carbonate were made from lithium solution produced at Century’s pilot lithium extraction facility. Following leaching and direct lithium extraction at the pilot plant, solutions were shipped to Saltworks Technologies Inc. for final processing. The results were in line with those reported in September 2022 when lithium carbonate grading 99.94% was produced.
Feasibility study expected in 2H 2023. The Clayton Valley feasibility study is expected to be completed in the second half of 2023. Major areas of the study are finished and estimates for capital and operating cost estimates have been received, including those for the chlor-alkali plant portion of the project. The estimates are being consolidated and reviewed, along with opportunities for further optimization and cost reduction.
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