Arizona Lithium Ltd (ASX:AZL) managing director Paul Lloyd talked with Proactive's Stephen Gunnion about the company's transaction that raised A$11 million in non-dilutive capital raise and how it plans to utilise the funds.
Lloyd explained that Arizona Lithium focuses on two major lithium development projects in North America: the Prairie Project in Saskatchewan and the Big Sandy Project in Arizona.
He provided insights into the Prairie Project, which holds 6.3 million tons of lithium carbonate, and how the recent land sale will help fast-track its development toward production in 2025. He emphasised the company's cost-efficient production strategy, noting, "We've got a PFS out in the public domain that talks about a cost of production of $2,800 a tonne."
Lloyd also touched on the dynamics of the lithium market, highlighting significant moves by major companies like Exxon and Rio Tinto into the lithium space. As the company works towards finalising its direct lithium extraction methods, Lloyd is confident that 2025 will be a pivotal year for Arizona Lithium shareholders.