IM Lithium News in Brief 17 – 23 June

By Laura Syrett
Published: Tuesday, 23 June 2015

Orocobre receives ISO accreditation for Olaroz; Bacanora and Pilbara Minerals raise funds.

ASX and TSX-listed Orocobre Ltd has announced that Sales de Jujuy, its project company for the Olaroz lithium facility in Argentina, has received International Organization for Standardization (ISO) accreditation from the Instituto Argentino de Normalizacion y Certificacion for quality, environmental and health and safety management standards.

Sales de Jujuy has also been accredited by the European REACH management programme and has implemented the ISO risk management system, Orocobre said in a statement.

"Receiving the ISO accreditation continues Orocobre’s commitment towards creating a sustainable business capable of servicing the global market with consistent, high-quality lithium carbonate," the company added.

Brisbane, Australia-headquartered Orocobre is developing the Salar de Olaroz lithium brine project in Argentina and expects to achieve a run rate of 1,450 tpm lithium carbonate by Q4 2015.

In the US, Western Lithium USA Corp. is continuing its optimisation work with Tenova Bateman Technologies in preparation for an order of magnitude preliminary engineering study at its King’s Valley lithium project in Humboldt County, Nevada.

Bateman’s LiSX advanced solvent extraction technology is designed to efficiently separate and concentrate lithium from brines and chemical streams. The company has been working on the process with Western since 2010 and has achieved staturated lithium brine concentrates of >99.9% purity.

Kings Valley has a historical resource estimate of approximately 11m tonnes lithium carbonate equivalent (LCE), compiled by Chevron Resources Corp.

In financial news, UK AIM and TSX-V-listed Bacanora Minerals Ltd has received notification from warrant holders to exercise warrants over 390,874 common shares in the company at a price of £0.33/share ($0.52/share*), providing Bacanora with gross proceeds of £128,998.

The company will notify the London Stock Exchange to admit the new common shares to trading on AIM, with admission expected to occur on or around the 26 June.

Bacanora is developing the Sonora lithium project and the Magdalena borates project, both in Mexico.

Australia-based Pilbara Minerals Ltd has issued the first tranche of a secured convertible notes with a face value of Australian dollar ($A) 1.7m ($1.3m), pursuant to its 1 June announcement proposing a convertible note issue for $A5.7m. The first set of notes is due to mature on 21 December 2016.

Pilbara said all the necessary documentation for a second tranche of A$4m worth of secured convertible notes has been completed. The issue is subject to shareholder approval.

Funds raised from the issues will be used in the development of the company’s Pilgangoora spodumene and tantalum project and Tabba Tabba tantalum project.

Pilbara said it intends to ramp up development of Pilgangoora, which is located 150km southeast of Port Hedland in Western Australia’s Pilbara region, and will shortly commence prefeasibility work, including the conversion of exploration licences to mining leases, at the site.

Finally, London-based technology startup Powervault has been touted as the UK’s answer to Tesla Motors Inc.’s lithium-ion home energy storage business, the Financial Times (FT) has reported.

The company, which produces units to capture and use surplus electricity generated by domestic solar panels, says that its products are cheaper and more practical than Tesla’s sleek, wall-mounted offerings and will be targeted at British consumers.

"This is a complete system in a box, is compatible with all solar systems and takes about an hour to install," Joe Warren, Powervault’s managing director, told the FT.

The units, which can store two or four kilowatt hours, cost between £2,000 and £2,800, but Warren believes the price will drop to £1,000 within three years.

*Conversions made June 2015



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