Re: Hmm...
in response to
by
posted on
Jul 07, 2022 11:31AM
Hey Okiedo. Hope all is well. I don't want to be a buzz kill again but I don't know who wrote that article. Sounds like someone's opinion. If you listen to the company, I don't think C-O is going to start commissioning until Q4 best case and I would not expect any material revenue out of C-O until the 2H 2023.
Listed below is the C-O update that the company released two months ago on May 6th. They still have critical parts of their LCE plant under "fabrication". I assume those materials are being completed in Asia and they then have a long boat ride to Argentina. There is nothing on the LAC Events calendar at all right now so I suspect nothing material will happen until post Labor Day or maybe an update or two with their Q2 release scheduled around early to mid-August. Once the Judge Du ruling happens in September the announcements will start flying. Enjoy the rest of your summer and stay cool.
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Construction Progress - Evaporation Ponds and Production Wells Earthworks for the 12 km2 of planned solar evaporation ponds are 100% complete, and liner installation is 100% complete as well. Currently, there are 40 production wells drilled.
As of the date of this MD&A, approximately 22.2 million cubic meters (“m3”) of brine have been pumped into the ponds for initial evaporation and process testing. In Q1 2022, as part of servicing the evaporation ponds, pond harvesting commenced on one of the ponds, to remove excess salts deposited at the bottom of the pond.
Infrastructure • The access roads and platforms for the wells are 100% complete. • Construction of the warehouse buildings is 100% complete. • Gas pipeline is 100% complete. • Lime plant is 100% complete. • The 33 kV power line and the 13.2 kV distribution line are 100% complete. • Construction of the water pipeline is almost complete.
Lithium Carbonate Plant • Critical, long-lead-time equipment is currently under fabrication or has been delivered to site. • Solvent extraction (SX) plant, including equipment installation, is over 85% complete. • Solid-liquid separation (SSL) plant is 100% complete. • Potassium chloride (KCl) plant is over 80% complete. • Contractors are on site working towards completing the rest of the lithium carbonate plant (the dilution plant, purification, carbonation and substation). Capital Expenditures •
As of March 31, 2022, $605 million has been spent or 82% of the current $741 million capital budget, with the majority of the remaining budget committed.