CleanTech Lithium PLC (AIM:CTL, OTCQX:CTLHF) executive chairman Steve Kesler discusses the latest update and progress at Laguna Verde.
Steve Kesler: This is an operational update. All our shareholders want regular updates, and it’s been a bit quiet recently.
But we’re working full bore on many areas, particularly the pre-feasibility study, and we’re making good progress.
Steve Kesler: We informed shareholders earlier that we’re changing the project’s configuration.
Instead of having everything at the site, we’re splitting the plant into two locations.
We’ll handle DLE and concentration at Laguna Verde and transport the concentrated eluate to a conversion plant at Copiapó.
This has several benefits, including better technical support in Copiapó, and it allows us to expand the plant for our next project, Viento Andino.
Proactive: How has this change impacted the timeline for the PFS?
Steve Kesler: The adjustment delayed the timeline slightly. Instead of finishing by the end of this year, we’re now targeting completion in the first quarter of next year.
However, this will result in a stronger PFS that will expedite the complete DFS.
Steve Kesler: In addition, we’re exploring two power supply options.
We can connect to the national grid for renewable energy, or we may generate our own renewable power.
Laguna Verde’s location has the highest solar irradiance globally, making it perfect for solar energy.
With a mix of solar, wind turbines, and battery storage, we could potentially self-generate all the required energy.
Proactive: Can you share more about the logistics and transportation updates?
Steve Kesler: Certainly. We’ve identified a suitable site outside Copiapó for our conversion plant.
It’s connected by a highway directly from Laguna Verde and provides convenient access to the port at Caldera for exporting lithium carbonate.
Conventionally, we’d use diesel trucks, but we’re keen on electric trucks to reduce emissions.
They have the advantage of recharging on the downhill journey from Laguna Verde to Copiapó.
Proactive: Why is this level of engineering necessary for the PFS?
Steve Kesler: A well-engineered PFS minimizes rework during the DFS.
If we can finalize these details at the PFS stage, the DFS can progress much faster.
Also, a thorough PFS will help us attract strategic investors by providing clear CapEx, OpEx, and technical requirements.
Steve Kesler: Our work also includes resource validation. We completed some drilling last year but were interrupted by early winter.
We’ll resume drilling after securing additional funds, which will support resource-to-reserve conversion. Montgomery is helping us design well fields and injection wells to avoid impacting Laguna Verde’s surface water.
Steve Kesler: With all the work from Montgomery, Lanshen, and other teams, we aim to deliver a very robust PFS.
This should attract potential partners, and we’re already engaged with about seven or eight groups under non-disclosure, encouraged by Chile’s prioritisation of Laguna Verde among six projects.
Steve Kesler: Our pilot plant is operational in DLE, and we’re processing eluate in Chicago, expecting battery-grade lithium carbonate this month.
We’ll share updates, including photos, once we achieve that milestone.