Pilbara Minerals Ltd has
released the results of a pre-feasibility study (PFS) for its
Pilangoora lithium-tantalite project in Western Australia
The company said that the study confirms
the technical and financial viability of a standalone 2m tpa
mining and onsite processing operation at Pilangoora
The report forecasts production rate of
330,000 tpa of 6% spodumene concentrate for 48,000 tpa lithium
carbonate equivalent (LCE).The site has been given a maiden ore
reserve of 29.5m tonnes at 1.31% lithium oxide
Operating costs are expected to be
$205/tonne spodumene concentrate FOB, with annual EBITDA* of
Australian dollar (A$) 120m ($90.47m**) over the first five
years of operation.
Netherlands-based AMG Advanced
Metallurgical Group NV announced that Outotec
Oyj has completed an affirmative PFS for the recovery
of spodumene from its Volta Grande mine tailings resource in
The company operates a spodumene pilot
plant at Volta Grande, recovering the material from existing
tailings. Outotec has been hired by AMG to perform basic
engineering for a proposed full spodumene operation, with a
targeted output of 90,000 tpa.
AMG said it will also continue separate
scoping study work with both Outotec and Hatch
Ltd to determine the optimum chemical process route to
convert spodumene concentrate into either lithium hydroxide or
In Canada, TSX-V-listed Standard
Graphite Corp. has signed an option agreement to
acquire eight lithium properties within the Abitibi and James
Bay regions in Quebec.
The claims cover a total are of 1,150 ha
(11.5km2) over what the company described as "highly
prospective geology". Unconfirmed historic data has identified
grades of 0.8% Li2O.
Subject to TSX-V approval, Standard will
make a Canadian dollar (C$) 2,500 ($1,887) cash payment and
issue 6m shares to seller for the full acquisition of the
Canadian Securities Exchange (CSE)-listed
MGX Minerals Inc. has applied for a further
five metallic and industrial minerals permits, covering 96,000
ha (960km2), from the Alberta Ministry of
Energy, which will increase its lithium land position
in the Canadian province to 141,000 ha
The company said the area is "known to
contain some of the highest levels of lithium bearing brine in
the Province of Alberta, up to 140mg/l".
In February, MGX announced it had hired
Cementation AG to complete a pilot plant
scoping study for the production of lithium carbonate.
TSX-V-listed International Lithium
Corp. has entered into an option agreement and
strategic alliance with ASX-listed Pioneer Resources
Ltd, under which Pioneer can earn an interest of up to
80% in the Mavis Lake property in Ontario, Canada.
The companies said that the deal will
allow them to test multiple undrilled pegmatite targets within
the project area at Mavis Lake.
Finalisation of the agreement is subject
to a three-month exclusivity and due diligence period.
Assay results released by TSX-V-listed
Ultra Lithium Inc. for its Big Smoky Valley
brine project in Nevada, US, indicated maximum a maximum value
of lithium in sediments of 100 ppm.
Ultra said the results confirmed the
presence of lithium in the south Big Smoky hydrogeological
system, with its north eastern areas showing "consistent
anomalous values" of lithium, boron and potassium.
The sampling work was carried out in
CSE-listed Avarone Metals
Inc. is set to acquire the Moab project, adjacent to
Ultra Lithium’s claims in Big Smoky Valley.
The company has entered into an agreement
with an arm’s length vendor to purchase the site
in exchange for 3m common shares, cash payments of C$200,000
over a three-year period and the completion of C$1m in
exploration expenditures, also within a three-year period.
In Australia, ASX-listed Dakota
Minerals Ltd said it is on schedule to begin a maiden
drilling programme at its Lynas Find lithium project in
WA’s Pilangoora region in early April, following
approval of a programme of works by the Australian
government’s Department of Mines and
Petroleum and completion of a heritage survey by
Yamatji Marlpa Aboriginal Corp.
Gridded rock-chipping work on the central
part of the project carried out in January yielded average
results of 1.7% Li2O and a maximum of 5.12%
The Australian government’s
Department of Industry and Science has awarded
ASX-listed Lithium Australia an "innovation
connections grant" to support the commercialisation of its
Lithium Australia will partner with state
body ANSTO Minerals to advance the technology,
which aims to recover lithium from silicate minerals without
the need for a roasting process.
ASX-listed Liontown Resources
Ltd has expanded its holding at the Bynoe project in
Australia’s Northern Territory by acquiring a new
The company’s expansion
includes the large Hang Gong pegmatite, which is up to 60
metres wide at surface and mapped over a strike length of 390
Liontown originally acquired Bynoe in
February this year. It said a recent site inspection identified
highly weathered and leached spodumene mineralisation from dump
samples, indicating the potential for primary lithium
mineralisation beneath existing shallow pits.
ASX-listed Argonaut Resources
NL has released the results of historic drilling
intercepts at the Crescent Lake project in Ontario.
Intercepts at the Falcon Lake deposit
yielded results ranging between 0.99% and 1.48% Li2O
at varying depths, while Zigzag yielded 6.1 metres at 1.08%
Unlisted Lithium Corp.,
meanwhile, has signed a definitive agreement with
1032701 BC Ltd a private company in the
Canadian province of British Columbia, to develop the Fish Lake
Valley lithium prospect in Nevada, US.
The announcement follows a statement by
TSX-V-listed Menika Mining Ltd that it has
signed an agreement to buy 1032701 and its interest in Fish
In financing news, TSX-V-listed
Nemaska Lithium Inc. announced a private
placement for a total of C$13m.
Of this, C$10m will come from
Resources Quebec Inc., acting on behalf of the
Quebec government, with the remaining C$3m
coming from the Cree Community of Nemaska, via
the Nemaska Development Corp.
The income from the placement will be used
by Nemaska to finance the construction and operation costs of
its phase one lithium hydroxide plant in Shawinigan,
The total issuance will be around 38m
units at a price of C$0.34/unit, where each unit comprises one
common share and one half share purchase warrant, with one
warrant entitling the holder to purchase a share at a price of
C$0.48 within a two-year period.
TSX-listed Avalon Advanced
Materials Inc. completed a non-brokered private
placement of 13.7m units at a price of C$0.10/unit, bringing in
total proceeds of C$1.370m.
Each unit comprises one common share and
one half share purchase warrant, where one warrant entitles the
holder to purchase a further common share at a price of C$0.15
within a two-year period.
CEO, Don Bubar, said that coupled with previous financing
efforts, this funding should allow the company to complete a
preliminary economic assessment (PEA) by the end of June
ASX-listed Neometals Ltd
will make a previously proposed A$0.02/share shareholder
payment, totalling A$11.2m, entirely as an unfranked dividend
(an Australian dividend arrangement that removes exposure to
The company, which forms part of a
three-way joint venture (JV) ownership of the Mount Marion
spodumene project in WA, due to come online later this year,
said that the unfranked dividend method is preferable to a
return of capital due to additional costs and delays associated
with seeking shareholder approval for the latter.
Lithium Australia said it
is continuing to receive conversion notices from holders of its
Australian dollar A$0.05 LITCC contributing shares. It said it
encourages LITCC and option holders to convert to fully-paid
*Earnings before interest, tax,
**Conversions made March 2016