LEL - Lithium Energy

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SUMMARY
➢ Scoping Study work completed to date confirms the suitability of conventional solar pond evaporation as a development pathway for the Solaroz Lithium Brine Project.
➢ Pond evaporation is a tried and tested production methodology on the Olaroz Salar, currently used by adjacent global lithium neighbours Allkem and Lithium Americas Corporation for battery grade lithium carbonate production.
➢ Study work indicates the Solaroz Project is also suitable for Direct Lithium Extraction, providing the Company with the significant benefit of having multiple potential development pathways.
➢ The release of full Scoping Study results including production targets and economics is targeted for early Q4 2023.
➢ The Company confirms that it has been approached by multiple, major third parties active in the EV battery sector seeking strategic partnership or investment opportunities with Lithium Energy in the development of the Solaroz Project.
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.... and up 20 per cent. (to 66c)

 

[Dona Ferentes]

LEL currently suspended ... last trade $0.37

and lol

Tenement Consolidation Creates Significant New District-Scale Gold-Copper Belt Project in Central Queensland​

SUMMARY
➢ Lithium Energy has entered into binding agreements to consolidate a number of contiguous exploration tenements in Central Queensland that are prospective for gold, porphyry copper and VMS mineralisation. The tenements are adjacent to and surround the historic Mt Morgan Gold Mine.
➢ The tenements with an area of 1,795 km2 have been consolidated to create a significant new district-scale project named the “Capricorn Gold-Copper Belt Project”.
➢ Consideration for the acquisition of a 100% interest in the consolidated tenement package comprises:
• $3 Million in cash payable over 2 years;
• Contingent Payments (up to $2.5 Million in total) on achievement of exploration success and feasibility study milestones; and
• A 2% NSR royalty (with partial buy-back option).
➢ Terms of acquisition include a $4 Million expenditure commitment by Lithium Energy over 2 years.
➢ An extensive exploration program over high priority targets is to commence immediately following completion of the acquisition.
➢ The Capricorn Gold-Copper Belt Project tenement consolidation forms part of the Company’s strategy towards seeking the reinstatement of its shares to quotation, subject to further consultation with ASX.