CleanTech Lithium PLC (AIM:CTL, OTCQX:CTLHF) has laid out its priorities for the year ahead, centred on completing a key feasibility study, scaling up production from its pilot plant and securing government approval for its flagship lithium project in Chile.
The company is also preparing to resume its plans for a dual listing in Australia, once the regulatory path is clarified.
Publishing its audited final results for 2024, CleanTech said progress at Laguna Verde remained the company’s main focus.
A pre-feasibility study is nearly complete and will be finalised once there is greater clarity around the outcome of its application for a Special Lithium Operating Contract, known locally as a CEOL.
While the Chilean authorities declined to admit the application to a streamlined process earlier this year, CleanTech has submitted an appeal and is awaiting a response.
The project received backing from three local indigenous communities, and CleanTech has continued to strengthen those relationships with formal co-development agreements.
Two additional wells were completed in 2024, feeding into a resource update that placed the deposit at 1.63 million tonnes of lithium carbonate equivalent, including 0.81 million tonnes in the Measured and Indicated category.
At its pilot plant in Copiapó, CleanTech has now demonstrated a full end-to-end process for Direct Lithium Extraction, producing battery-grade lithium carbonate at a purity of 99.78%. The next step is scaling up production to supply potential strategic partners.
To support its plans, the company raised £4.6 million in 2024 through loan notes and a share placing, with a further £2.4 million raised post-year end in February 2025.
As you'd expect from a business in the formative phase of its development, the company posted a loss - £5.6 million for the 12 months ended December 31.
The shares were up 1.6% at 6.35p.