CleanTech Lithium PLC (AIM:CTL, OTCQX:CTLHF), an exploration and development company focused on sustainable lithium projects in Chile, made numerous operational strides in the first half, most notably with the progression of its Pre-Feasibility Study (PFS) for the flagship Laguna Verde project and the commencement of its five-well resource drilling program.
The Direct Lithium Extraction (DLE) pilot plant became fully operational, producing lithium chloride with low impurities.
CleanTech is preparing to produce battery-grade lithium carbonate in Q4 2024, which will be evaluated by potential strategic partners.
No lost time incidents reported in CleanTech’s first-half operations.
Post-period, pump tests and reinjection work are planned for Laguna Verde, helping to define sustainable production rates.
The company has also shipped its first batch of concentrated eluate for conversion to battery-grade lithium carbonate in North America.
The company continues to work towards a dual listing on the Australian Stock Exchange (ASX), with an IPO expected before the end of 2024. An associated capital raise is also planned to support ongoing project development.
In financial terms, CleanTech reported an operating loss of £2.86 million for the period.
Cash at the end of June stood at £2.1 million, down from £6.2 million at the start of the year.