Finally
posted on
Nov 07, 2023 06:58PM
HIGHLIGHTS
Argentina
Caucharí-Olaroz
Caucharí-Olaroz Stage 1 ramp up to design capacity of 40,000 tonnes per annum (“tpa”) of battery-quality lithium carbonate is on track to be completed by mid-2024.
Production guidance reaffirmed at 5,000 tonnes of lithium carbonate in 2023.
First lithium carbonate was shipped from Argentina in early Q4 2023 with regular shipments ongoing.
During the ramp up, sales are based on market price for battery-quality lithium carbonate less a processing fee to remove the excess potassium chloride (“KCl”).
Completed the first train of the KCl plant with commissioning underway and second train expected to be completed during Q4 2023.
As of September 30, 2023, over 95% of the capital costs have been spent with Stage 1 construction substantially complete.
At current lithium carbonate prices and operating plans, the Company remains in a strong financial position and expects its remaining funding requirements for Caucharí-Olaroz to be less than $20 million, including working capital needs, during Stage 1 ramp up.
Pastos Grandes Basin
The Company continues integrating Pastos Grandes (100% interest) and Sal de la Puna (65% interest) which is expected to result in a larger scale and more optimized development plan.
The development plan for the Pastos Grandes Basin is expected to align with the ramp up of Caucharí-Olaroz Stage 1.