Allkem Limited (ASX|TSX: AKE, " Allkem" or the " Company" ) and the International Finance Corporation (" IFC ") have agreed on a non-binding term sheet for a project financing facility (" IFC loan ") for the wholly Allkem owned Sal de Vida Project located in Catamarca Province, Argentina.
Managing Director and CEO, Martin Perez de Solay said, "We are already in a strong financial position to self-fund the Sal de Vida project however we saw an opportunity to further improve the financing structure for Sal de Vida and partner with IFC, an institution with decades of experience providing finance and sustainable business solutions in the mining space."
"Sal de Vida is expected to generate significant economy-wide benefits that will improve the fiscal outlook, economic performance and social outcomes at national, regional and local community levels."
IFC's proposed investment comprises a US$200 million debt package, including up to US$100 million from IFC for a tenor of up to 9 years and the remainder funded by a syndicate of commercial banks.
The IFC loan and its key terms reflect current market conditions for this facility type, loan size, tenor and region.
IFC's proposed financing structure will provide Sal de Vida with a diversified international lender group in a syndicated loan agreement at the asset level and will help de-risk the capital structure of the project.
IFC's Performance Standards are globally recognised as a benchmark for environmental and social risk management in the private sector. IFC has eight Performance Standards: Risk Management, Labour, Resource Efficiency, Community, Land Resettlement, Biodiversity, Indigenous People and Cultural Heritage.
A robust and detailed environmental assessment was conducted by IFC, including the assessment of brine extraction and water usage and the associated monitoring and mitigation plan. Allkem technical teams participated in the process and will work to implement the IFC's Environmental and Social Action Plan (ESAP).
IFC technical assessment through senior consulting firms validated the project scope, cost and schedule and has provided a detailed risk analysis to ensure proper mitigation plans are established.
Subject to finalisation of facility terms, legal due diligence, approval from the Allkem Board of Directors, approval by IFC Management and World Bank Group Board of Directors the facility is expected to close before the end of 2022.
IFC—a member of the World Bank Group—is the largest global development institution focused on the private sector in emerging markets. Working in more than 100 countries, IFC uses their capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2022, IFC committed a record $32.8 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of current global issues. For more information, visit www.ifc.org .
The Sal de Vida Stage 1 Project is designed to produce 15ktpa of predominately battery grade lithium carbonate. The 2022 Feasibility Study estimated capital expenditure to be US$271 million and cash operating costs of US$3,612 per tonne. Construction commenced in January 2022.
Stage 1 project economics include pre-tax Net Present Value of US$1.23 billion at a 10% discount rate, pre-tax internal rate of return of 50% and a payback period of 1.75 years from the start of commercial production.
As at 30 June 2022, Allkem had US$664 million of free cash and cash equivalents available for the development of Sal de Vida and its other growth projects.
This release was authorised by Mr Martin Perez de Solay, CEO and Managing Director of Allkem Limited.
This investor ASX/TSX release ( Release ) has been prepared by Allkem Limited (ACN 112 589 910) (the Company or Allkem ). It contains general information about the Company as at the date of this Release. The information in this Release should not be considered to be comprehensive or to comprise all of the material which a shareholder or potential investor in the Company may require in order to determine whether to deal in Shares of Allkem. The information in this Release is of a general nature only and does not purport to be complete. It should be read in conjunction with the Company's periodic and continuous disclosure announcements which are available at allkem.co and with the Australian Securities Exchange ( ASX ) announcements, which are available at www.asx.com.au .
This Release does not take into account the financial situation, investment objectives, tax situation or particular needs of any person and nothing contained in this Release constitutes investment, legal, tax, accounting or other advice, nor does it contain all the information which would be required in a disclosure document or prospectus prepared in accordance with the requirements of the Corporations Act 2001 (Cth) ( Corporations Act ). Readers or recipients of this Release should, before making any decisions in relation to their investment or potential investment in the Company, consider the appropriateness of the information having regard to their own individual investment objectives and financial situation and seek their own professional investment, legal, taxation and accounting advice appropriate to their particular circumstances.
This Release does not constitute or form part of any offer, invitation, solicitation or recommendation to acquire, purchase, subscribe for, sell or otherwise dispose of, or issue, any Shares or any other financial product. Further, this Release does not constitute financial product, investment advice (nor tax, accounting or legal advice) or recommendation, nor shall it or any part of it or the fact of its distribution form the basis of, or be relied on in connection with, any contract or investment decision.
The distribution of this Release in other jurisdictions outside Australia may also be restricted by law and any restrictions should be observed. Any failure to comply with such restrictions may constitute a violation of applicable securities laws.
Past performance information given in this Release is given for illustrative purposes only and should not be relied upon as (and is not) an indication of future performance.
Forward Looking Statements Forward-looking statements are based on current expectations and beliefs and, by their nature, are subject to a number of known and unknown risks and uncertainties that could cause the actual results, performances and achievements to differ materially from any expected future results, performances or achievements expressed or implied by such forward-looking statements, including but not limited to, the risk of further changes in government regulations, policies or legislation; the risks associated with the continued implementation of the merger between the Company and Galaxy Resources Ltd, risks that further funding may be required, but unavailable, for the ongoing development of the Company's projects; fluctuations or decreases in commodity prices; uncertainty in the estimation, economic viability, recoverability and processing of mineral resources; risks associated with development of the Company Projects; unexpected capital or operating cost increases; uncertainty of meeting anticipated program milestones at the Company's Projects; risks associated with investment in publicly listed companies, such as the Company; and risks associated with general economic conditions.
Subject to any continuing obligation under applicable law or relevant listing rules of the ASX, the Company disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements in this Release to reflect any change in expectations in relation to any forward-looking statements or any change in events, conditions or circumstances on which any such statements are based. Nothing in this Release shall under any circumstances (including by reason of this Release remaining available and not being superseded or replaced by any other Release or publication with respect to the subject matter of this Release), create an implication that there has been no change in the affairs of the Company since the date of this Release.
Competent Person Statement Any information in this announcement relating to Sal de Vida scientific or technical information, production targets or forecast financial information derived from a production target is extracted from the ASX Announcement entitled "Sal de Vida capacity increased to 45ktpa in two stages" released on 4 April 2022 which is available to view on www.allkem.co and www.asx.com.au. The Company confirms that all the material assumptions underpinning the scientific or technical information, production targets or the forecast financial information derived from a production target in the original market announcement continue to apply and have not materially changed.
Not for release or distribution in the United States This announcement has been prepared for publication in Australia and may not be released to U.S. wire services or distributed in the United States. This announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States or any other jurisdiction, and neither this announcement or anything attached to this announcement shall form the basis of any contract or commitment. Any securities described in this announcement have not been, and will not be, registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States except in transactions registered under the U.S. Securities Act of 1933 or exempt from, or not subject to, the registration of the U.S. Securities Act of 1933 and applicable U.S. state securities laws.
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Allkem Limited (ASX|TSX: AKE) ("Allkem" or "the Company") will release its September Quarter Activities Report on Friday, 21 October 2022.
Managing Director and CEO, Mr. Martín Pérez de Solay and Chief Sales and Marketing Officer, Christian Barbier will conduct a live webcast briefing at 10:00 am AEDT on the same day.
To pre-register your details and join the webcast briefing, please follow the link on the homepage of Allkem's website, www.allkem.co . Written questions may be submitted via the webcast and playback of the briefing and Q&A session will also be available on the company's website.
This release was authorised by Mr Martin Perez de Solay, CEO and Managing Director of Allkem Limited.
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Allkem Limited (ASX|TSX: AKE the Company ) is pleased to provide an update on the resource extension drilling program currently underway at its Mt Cattlin spodumene operation in Western Australia.
The drilling program consists of three phases as described below:
Phase 1 – drilling within the US$900 2NW pit shell converting resource to reserve (planned 49 holes, 11,120 metres). Underway – ~77% complete.
Phase 2 – drilling to the north and down dip of the US$900 2NW pit shell to test resource extensions outside of the US$900 2NW pit (planned 80 holes, 19,125 metres) and within the US$1,100 pit shell. Underway – ~55% complete.
Phase 3 – drilling in the SW of the mine tenements to test additional targets and prospects (18 holes, 2,440 metres). To be undertaken in late 2022/early 2023.
Allkem commenced a three-phase resource extension program in mid-April that targets 147 holes for approximately 32,685 metres of reverse circulation (" RC" ) drilling.
As of 14 September, 81 holes drilled for a total of 19,177 metres were complete and assay results for 47 drillholes were available.
Highlights from the assays of the upper pegmatite include:
All significant assays are tabulated in the appendix.
Figure 1: Intercepts to the north of the US$1,100 whittle shell show potential for mineral resource expansion .
Highlights from the lower pegmatite include:
Pegmatite mineralisation to this point generally aligns with the existing geological model and of those assays returned to date and lithia (Li 2 O) content is consistent with historic (pre-2022) assays in the North West pit area of Mt Cattlin. Given the tendency for "pinch and swell" in pegmatite mineralisation, definitive conclusions are not possible at this stage, however geological logging and assay results to date are highly encouraging.
A typical cross section at northing 224160E (MGA 94) in Figure 1 shows ongoing thick pegmatite development down dip from the US$650 (Ore Reserve) pit shell and the USD 1,100 Whittle shell.
All drill hole collars for assay results are presented in Figure 2 and Appendix: Table 1.
Given the executed orientation of the drilling, assay intercepts reported are broadly true width.
Figure 2: Drilling progress as of 14 September 2022 and location relative to USD 1,100 pit shell and current NW pit design and cut-back.
The Phase 1 resource infill program at 2NW pit is on target for completion by the end of October and Perth based consultants Entech have been appointed to project manage an open pit, cut-back feasibility level study and execution.
Planning is underway for follow-up reverse circulation and diamond drilling, for the purposes of extension, geotechnical and metallurgical studies.
The study is anticipated to commence in October and aims to convert in-situ mineral resources (as announced on 25 August 2022) to Ore Reserves for scheduling, mine planning and detailed pit design in a NW pit.
Additionally, a scoping study continues to evaluate the potential for either opencut or underground development of further resource extensions from Phase 2 drilling.
On completion of the drilling at the NW pit, the focus will shift to Phase 3 and further definition in the SW part of the reasonable prospects of eventual economic extraction (RPEEE) footprint and lead to programs that test pegmatite continuity in areas previously not included in resource and mineral resource modelling. These programs will continue towards the end of the year and extend onto exploration leases as conditions and permitting allows.
This release was authorised by Mr Martin Perez de Solay, CEO and Managing Director of Allkem Limited.
This investor ASX/TSX release ( Release ) has been prepared by Allkem Limited (ACN 112 589 910) (the Company or Allkem ). It contains general information about the Company as at the date of this Release. The information in this Release should not be considered to be comprehensive or to comprise all of the material which a shareholder or potential investor in the Company may require in order to determine whether to deal in Shares of Allkem. The information in this Release is of a general nature only and does not purport to be complete. It should be read in conjunction with the Company's periodic and continuous disclosure announcements which are available at allkem.co and with the Australian Securities Exchange ( ASX ) announcements, which are available at www.asx.com.au .
This Release does not take into account the financial situation, investment objectives, tax situation or particular needs of any person and nothing contained in this Release constitutes investment, legal, tax, accounting or other advice, nor does it contain all the information which would be required in a disclosure document or prospectus prepared in accordance with the requirements of the Corporations Act 2001 (Cth) ( Corporations Act ). Readers or recipients of this Release should, before making any decisions in relation to their investment or potential investment in the Company, consider the appropriateness of the information having regard to their own individual investment objectives and financial situation and seek their own professional investment, legal, taxation and accounting advice appropriate to their particular circumstances.
This Release does not constitute or form part of any offer, invitation, solicitation or recommendation to acquire, purchase, subscribe for, sell or otherwise dispose of, or issue, any Shares or any other financial product. Further, this Release does not constitute financial product, investment advice (nor tax, accounting or legal advice) or recommendation, nor shall it or any part of it or the fact of its distribution form the basis of, or be relied on in connection with, any contract or investment decision.
The distribution of this Release in other jurisdictions outside Australia may also be restricted by law and any restrictions should be observed. Any failure to comply with such restrictions may constitute a violation of applicable securities laws.
Past performance information given in this Release is given for illustrative purposes only and should not be relied upon as (and is not) an indication of future performance.
Forward-looking statements are based on current expectations and beliefs and, by their nature, are subject to a number of known and unknown risks and uncertainties that could cause the actual results, performances and achievements to differ materially from any expected future results, performances or achievements expressed or implied by such forward-looking statements, including but not limited to, the risk of further changes in government regulations, policies or legislation; the risks associated with the continued implementation of the merger between the Company and Galaxy Resources Ltd, risks that further funding may be required, but unavailable, for the ongoing development of the Company's projects; fluctuations or decreases in commodity prices; uncertainty in the estimation, economic viability, recoverability and processing of mineral resources; risks associated with development of the Company Projects; unexpected capital or operating cost increases; uncertainty of meeting anticipated program milestones at the Company's Projects; risks associated with investment in publicly listed companies, such as the Company; and risks associated with general economic conditions.
Subject to any continuing obligation under applicable law or relevant listing rules of the ASX, the Company disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements in this Release to reflect any change in expectations in relation to any forward-looking statements or any change in events, conditions or circumstances on which any such statements are based. Nothing in this Release shall under any circumstances (including by reason of this Release remaining available and not being superseded or replaced by any other Release or publication with respect to the subject matter of this Release), create an implication that there has been no change in the affairs of the Company since the date of this Release.
The information in this announcement that relates to Exploration Results and Mineral Resources is based on information compiled by Albert Thamm, B.Sc. (Hons)., M.Sc. F.Aus.IMM, a Competent Person who is a Fellow of The Australasian Institute of Mining and Metallurgy. Albert Thamm is a full-time employee of Galaxy Resources Pty. Limited. Albert Thamm has sufficient experience that is relevant to the style of mineralization and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves'. Albert Thamm consents to the inclusion in this announcement of the matters based on his information in the form and context in which it appears.
Any information in this announcement that relates to Mt Cattlin's Mineral Resources and Reserves is extracted from the report entitled "Mt Cattlin Resource, Reserve and Operations Update" released on 25 August 2022 which is available to view on www.allkem.co and www.asx.com.au . The Company confirms that it is not aware of any new information or data that materially affects the information included in the original market announcements and that all material assumptions and technical parameters underpinning the Mineral Resources estimates in the relevant market announcement continue to apply and have not materially changed. The Company confirms that the form and context in which the Competent Person's findings are presented have not been materially modified from the original market announcement.
Not for release or distribution in the United States
This announcement has been prepared for publication in Australia and may not be released to U.S. wire services or distributed in the United States. This announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States or any other jurisdiction, and neither this announcement or anything attached to this announcement shall form the basis of any contract or commitment. Any securities described in this announcement have not been, and will not be, registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States except in transactions registered under the U.S. Securities Act of 1933 or exempt from, or not subject to, the registration of the U.S. Securities Act of 1933 and applicable U.S. state securities laws.
APPENDIX 1 – DRILL HOLE INFORMATION AND ASSAY RESULTS
T able 1: Drill hole collar and orientation as surveyed
All significant intercepts with a minimum cut-off 0.4% Li 2 O%; minimum 4m interval; maximum 2m of internal waste are presented separately in Tables 2 and 3 below.
Table 2: Significant intercepts - upper pegmatite body (61)
Table 3: Significant intercepts - lower pegmatite body (62). Minimum cut-off 0.4% Li 2 O%; minimum 4m interval; maximum 2m of internal waste
APPENDIX 2 – RESOURCE AND RESERVE TABLES
Mt Cattlin Mineral Resource at 30 June 2022
Notes: Reported at cut-off grade of 0.4% Li 2 O contained within a pit shell generated at a spodumene price of USD1,100 at 6% Li 2 0. The preceding statements of Mineral Resources conforms to the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code) 2012 edition. All tonnages reported are dry metric tonnes. Excludes mineralisation classified as oxide and transitional. Minor discrepancies may occur due to rounding to appropriate significant figures. RPEEE is defined as reasonable prospects for eventual economic evaluation.
Mt Cattlin Ore Reserve at 30 June 2022
Notes: Reported at cut-off grade of 0.4% Li 2 O within current mine design. The preceding statements of Ore Reserves conforms to the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC Code) 2012 edition. All tonnages reported are dry metric tonnes. Reported with 17% dilution and 93% mining recovery. Revenue factor US$650/tonne applied. Minor discrepancies may occur due to rounding to appropriate significant figures.
Section 1: Sampling Techniques and Data
Section 2: Reporting of Exploration Results
Graphics accompanying this announcement are available at https://www.globenewswire.com/NewsRoom/AttachmentNg/e6a4b0dc-668b-4a68-ab2a-16f1900fec8c
https://www.globenewswire.com/NewsRoom/AttachmentNg/b561eb58-bb52-46cc-8e33-be7ad6f9e1ea
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Allkem Limited (ASX|TSX: " Allkem ," the " Company ") advises that Mr Peter Coleman has been appointed as a Director of Allkem effective 3 October 2022 and will assume the role of Chair from Martin Rowley who has indicated he will retire from the Board at the close of the 2022 Annual General Meeting (" AGM ") to be held on 15 November 2022.
In welcoming Peter to the Allkem Board, current Chair Martin Rowley commented, " Peter is an outstanding successor to the Allkem Chair, having demonstrated throughout his career the attributes necessary to guide Allkem through its next growth phase. He is ideally suited to lead the Company's successful delivery of its strategy to triple production by 2026 and maintain at least 10% of global market share in the medium term. The Board and I are delighted to welcome Peter ."
CEO and Managing Director, Martin Perez de Solay said, " I would also like to congratulate Peter and welcome him to Allkem and the Board. Peter brings a wealth of knowledge and experience that will be highly beneficial as we continue to grow Allkem ."
Peter Coleman said, " I am very pleased to be joining a company with such an outstanding portfolio of operating and development assets and that operates with such a strong commitment to sustainability and shared value for all stakeholders. I look forward to working with the Board, management team and all employees to continue the success that Allkem has achieved to date ."
Mr. Coleman is the former Chief Executive Officer and Managing Director of Woodside Energy Group Limited, Australia's largest independent gas producer, having served in that role from 2011 until his retirement in June 2021.
Prior to joining Woodside, Mr. Coleman spent 27 years with the ExxonMobil group in a variety of roles, including Vice President – Asia Pacific from 2010 to 2011 and Vice President – Americas from 2008 to 2010.
Mr. Coleman is currently a Non-Executive Director of NYSE listed Schlumberger Limited (since 2021) and is the Chair of Infinite Green Energy, an unlisted Australian green hydrogen renewable energy company (since August 2021). He is also the Chair of H2EX, an unlisted Australian hydrogen exploration start-up (since April 2022) and the Chair of DIRECT Infrastructure, an unlisted Australian-based offshore wind developer (since June 2022).
Since 2012 Mr. Coleman has been an adjunct professor of corporate strategy at the University of Western Australia Business School and, has Chaired the Australia Korea Foundation since 2016. He is the recipient of an Alumni Lifetime Achievement Award from Monash University and a Fellowship from the Australian Academy of Technological Sciences and Engineering. Mr. Coleman has been awarded Honorary Doctoral degrees in Law and Engineering from Monash and Curtin Universities respectively and, was awarded the Heungin Medal for Diplomatic service by the republic of South Korea.
Mr. Dylan Roberts has been appointed joint Company Secretary and Mr. Rick Anthon will retire from his role as joint Company Secretary effective from this announcement. Mr. Roberts joins Mr. John Sanders as the joint Company Secretaries for Allkem.
This release was authorised by Mr Martin Perez de Solay, CEO and Managing Director of Allkem Limited.
This investor ASX/TSX release (Release) has been prepared by Allkem Limited (ACN 112 589 910) (the Company or Allkem). It contains general information about the Company as at the date of this Release. The information in this Release should not be considered to be comprehensive or to comprise all of the material which a shareholder or potential investor in the Company may require in order to determine whether to deal in Shares of Allkem. The information in this Release is of a general nature only and does not purport to be complete. It should be read in conjunction with the Company's periodic and continuous disclosure announcements which are available at allkem.co and with the Australian Securities Exchange (ASX) announcements, which are available at www.asx.com.au.
This Release does not take into account the financial situation, investment objectives, tax situation or particular needs of any person and nothing contained in this Release constitutes investment, legal, tax, accounting or other advice, nor does it contain all the information which would be required in a disclosure document or prospectus prepared in accordance with the requirements of the Corporations Act 2001 (Cth) (Corporations Act). Readers or recipients of this Release should, before making any decisions in relation to their investment or potential investment in the Company, consider the appropriateness of the information having regard to their own individual investment objectives and financial situation and seek their own professional investment, legal, taxation and accounting advice appropriate to their particular circumstances.
This Release does not constitute or form part of any offer, invitation, solicitation or recommendation to acquire, purchase, subscribe for, sell or otherwise dispose of, or issue, any Shares or any other financial product. Further, this Release does not constitute financial product, investment advice (nor tax, accounting or legal advice) or recommendation, nor shall it or any part of it or the fact of its distribution form the basis of, or be relied on in connection with, any contract or investment decision.
The distribution of this Release in other jurisdictions outside Australia may also be restricted by law and any restrictions should be observed. Any failure to comply with such restrictions may constitute a violation of applicable securities laws.
Past performance information given in this Release is given for illustrative purposes only and should not be relied upon as (and is not) an indication of future performance.
Not for release or distribution in the United States
This announcement has been prepared for publication in Australia and may not be released to U.S. wire services or distributed in the United States. This announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States or any other jurisdiction, and neither this announcement or anything attached to this announcement shall form the basis of any contract or commitment. Any securities described in this announcement have not been, and will not be, registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States except in transactions registered under the U.S. Securities Act of 1933 or exempt from, or not subject to, the registration of the U.S. Securities Act of 1933 and applicable U.S. state securities laws.
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Allkem Limited (ASX|TSX: " Allkem ," the " Company ") advises Deputy Chair, Mr Rob Hubbard will retire from the Board effective 3 October 2022.
Mr Hubbard was appointed as a Director of Allkem Limited ("formerly Orocobre ") in November 2012 and was appointed as Chair in July 2016. Following the merger with Galaxy Resources Limited (" Galaxy ") in 2021, Mr Hubbard assumed the role of Deputy Chair.
Mr Hubbard has been a key member of the Board and has provided invaluable stability, guidance and leadership over his tenure. Since his appointment as a director of the Company the market capitalisation of Allkem has increased from ~A$180 million to over A$10 billion recently. Together with Martin Rowley, as Chairman of Galaxy, Rob was pivotal to the transformational merger which created Allkem, a business which now has an envied global portfolio of production and development assets.
"I am proud to have been involved in the Allkem journey over my ten years on the Board. The last decade has seen many years of growth and wealth creation for our shareholders. It has given me great pleasure to be involved in a company that has not only provided a material increase in shareholder value but also embraced sustainability as a keystone of its strategy and shared value for all stakeholders. Building a company with the global ambitions of Allkem is a relay not a marathon and I am confident we are in the best of hands with my Board colleagues and Martin Perez de Solay's leadership," Mr Hubbard said.
Allkem Chairman Martin Rowley commented, " I would like to personally thank Rob for his contribution to the success of the Company over the decade he has been involved. When we first spoke in early 2021 both of us saw the huge potential of a merger of Orocobre and Galaxy but it took Rob's guidance and diplomacy as Chair of Orocobre to ensure the successful outcome. Sitting on the Board of Allkem together we have developed a very strong relationship with Rob providing invaluable support to me and the Board in his role as Deputy Chair. I am proud to call him a friend and I wish him and his family the very best in his life after Allkem ."
CEO and Managing Director, Martin Perez de Solay said, " It has been a pleasure to work with Rob who has made a significant contribution to the Company across many areas of the Company.
"Rob has been a driving force in the development of sustainability practices and reporting and has been instrumental in the improvement of governance systems throughout the business. He leaves the company in a very strong position and well placed for the planned development and growth of its world class asset portfolio. I sincerely thank Rob for his astute guidance and enduring support and wish him well in his future endeavours."
This release was authorised by Mr Martin Perez de Solay, CEO and Managing Director of Allkem Limited.
This investor ASX/TSX release ( Release ) has been prepared by Allkem Limited (ACN 112 589 910) (the Company or Allkem ). It contains general information about the Company as at the date of this Release. The information in this Release should not be considered to be comprehensive or to comprise all of the material which a shareholder or potential investor in the Company may require in order to determine whether to deal in Shares of Allkem. The information in this Release is of a general nature only and does not purport to be complete. It should be read in conjunction with the Company's periodic and continuous disclosure announcements which are available at allkem.co and with the Australian Securities Exchange ( ASX ) announcements, which are available at www.asx.com.au .
This Release does not take into account the financial situation, investment objectives, tax situation or particular needs of any person and nothing contained in this Release constitutes investment, legal, tax, accounting or other advice, nor does it contain all the information which would be required in a disclosure document or prospectus prepared in accordance with the requirements of the Corporations Act 2001 (Cth) ( Corporations Act ). Readers or recipients of this Release should, before making any decisions in relation to their investment or potential investment in the Company, consider the appropriateness of the information having regard to their own individual investment objectives and financial situation and seek their own professional investment, legal, taxation and accounting advice appropriate to their particular circumstances.
This Release does not constitute or form part of any offer, invitation, solicitation or recommendation to acquire, purchase, subscribe for, sell or otherwise dispose of, or issue, any Shares or any other financial product. Further, this Release does not constitute financial product, investment advice (nor tax, accounting or legal advice) or recommendation, nor shall it or any part of it or the fact of its distribution form the basis of, or be relied on in connection with, any contract or investment decision.
The distribution of this Release in other jurisdictions outside Australia may also be restricted by law and any restrictions should be observed. Any failure to comply with such restrictions may constitute a violation of applicable securities laws.
Past performance information given in this Release is given for illustrative purposes only and should not be relied upon as (and is not) an indication of future performance.
Not for release or distribution in the United States
This announcement has been prepared for publication in Australia and may not be released to U.S. wire services or distributed in the United States. This announcement does not constitute an offer to sell, or a solicitation of an offer to buy, securities in the United States or any other jurisdiction, and neither this announcement or anything attached to this announcement shall form the basis of any contract or commitment. Any securities described in this announcement have not been, and will not be, registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States except in transactions registered under the U.S. Securities Act of 1933 or exempt from, or not subject to, the registration of the U.S. Securities Act of 1933 and applicable U.S. state securities laws.
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Allkem Limited (ASXTSX: AKE the Company ) announces the following indicative key dates for the remainder of 2022.
Shareholders will be provided with information on how to participate in the Annual General Meeting when the Notice of Meeting is released in October 2022.
This release was authorised by Mr Martin Perez de Solay, CEO and Managing Director of Allkem Limited.
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- Livent Corporation (NYSE: LTHM) today announced it will release its third quarter 2022 earnings on Tuesday, November 1, 2022, after stock market close via PR Newswire and the company's website at: http:www.livent.com .
The company will subsequently host a webcast conference call on Tuesday, November 1, 2022 , at 4:30 p.m. ET that is open to the public via Internet broadcast and conference call.
Internet broadcast: http://www.livent.com .
Dial-in telephone numbers: U.S. / Canada : (888) 330-2454 International: (240) 789-2714 Conference ID # 4348515
A replay of the call will be available via the Internet and telephone from November 1, 2022 until November 15, 2022 .
Internet replay: http://www.livent.com U.S. / Canada : (800) 770-2030 International: (647) 362-9199 Conference ID # 4348515
About Livent For nearly eight decades, Livent has partnered with its customers to safely and sustainably use lithium to power the world. Livent is one of only a small number of companies with the capability, reputation, and know-how to produce high-quality finished lithium compounds that are helping meet the growing demand for lithium. The company has one of the broadest product portfolios in the industry, powering demand for green energy, modern mobility, the mobile economy, and specialized innovations, including light alloys and lubricants. Livent has a combined workforce of approximately 1,100 full-time, part-time, temporary, and contract employees and operates manufacturing sites in the United States , England , India , China and Argentina . For more information, visit livent.com .
Media contact: Juan Carlos Cruz +1.215.299.6170 juan.carlos.cruz@livent.com
Investor contact: Daniel Rosen +1.215.299.6208 daniel.rosen@livent.com
View original content to download multimedia: https://www.prnewswire.com/news-releases/livent-announces-date-for-third-quarter-2022-earnings-release-and-webcast-conference-call-301642943.html
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Sandy MacDougall, CEO of Noram Lithium Corp. ("Noram" or the "Company"(TSXV: NRM | OTCQB: NRVTF | Frankfurt: N7R) is pleased to announce the appointment of Dr. Vahid Sohrabi, Senior Hydrogeologist/Geochemist to the Advisory Board.
Founder and CEO Mr. MacDougall states: "As we accelerate and finalize a new updated resource model and subsequent prefeasibility study in Q4 of 2022, we are pleased to add Dr. Sohrabi to Noram's advisory board, and add further strength to our technical team in the important components of hydrogeology and geochemistry. Dr. Sohrabi, is a respected leadervas a hydrogeologist/geochemist and geoscientist, and brings an extensive ESG-friendly environmental, groundwater, surface water and soil-related global expertise. We look forward to Dr. Sohrabi's significant contributions in assisting the Company with the completion of the upcoming prefeasibility and definitive feasibility studies of the Zeus Lithium Deposit."
Dr. Sohrabi is a Senior Hydrogeologist/Geochemist at Ecoventure and has more than 19 years of experience in the field of environmental services in Canada and internationally. He earned his Ph.D. with a major in hydrogeology/geochemistry from the University of Waterloo, Ontario, Canada.
Dr. Sohrabi has been involved in numerous mining/oil and gas/environmental projects including different resource projects in the O&G and Mining industries. His hydro-geochemical knowledge and environmental management expertise have been instrumental in a wide array of resource projects in different stages of their lifecycle, including the design of feasibility studies of mines and mineral processing units.
More recently Dr. Sohrabi has been involved in several lithium projects and played a major role in the feasibility study of lithium brine projects in the Middle East by contributing to the field program testing design, the onsite trial management, the result evaluations and the decision-making for ongoing activities of such deposits, in addition to the final mine development planning.
Noram Lithium Corp. is a well-financed, development-stage junior mining company based in Vancouver, Canada. The company's flagship asset is the Zeus lithium project, located in Clayton Valley, Nevada. The Zeus project contains a current NI 43-101 measured and indicated resource estimate of 363 million tonnes grading 923 ppm lithium, and an inferred resource of 827 million tonnes grading 884 ppm lithium utilizing a 400 ppm Li cut-off.
In December, 2021, a robust PEA indicated an after-tax net present value (8 per cent) of $1.3-billion (U.S.) and an internal rate of return of 31 per cent using $9,500 (U.S.) per tonne lithium carbonate equivalent (LCE). Using the LCE long-term forecast of $14,000 (U.S.) per tonne, the PEA indicates an after-tax NPV (8 per cent) of approximately $2.67-billion (U.S.) and an IRR of 52 per cent at $14,250 (U.S.) per tonne LCE.
Noram is aggressively advancing its Zeus lithium project through the development-stage level towards the completion of a prefeasibility study in Q4 2022.
Please visit our website for further information: www.noramlithiumcorp.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Founder, Chief Executive Officer and Director
For additional information please contact:
President and Chief Operating Officer
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking information which is not comprised of historical facts. Forward-looking information involves risks,uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes statements regarding, among other things, the completion transactions completed in the Agreement. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, regulatory approval processes. Although Noram believes that the assumptions used in preparing the forward-looking information in this news release are reasonable, including that all necessary regulatory approvals will be obtained in a timely manner, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Noram disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by applicable securities laws. *Updated Lithium Mineral Resource Estimate, Zeus Project, Clayton Valley, Esmeralda County, Nevada, USA (August 2021) **Preliminary Economic Assessment Zeus Project, ABH Engineering (December 2021).
Click here to connect with Noram Lithium Corp. (TSXV: NRM | OTCQB: NRVTF | Frankfurt: N7R) , to receive an Investor Presentation
BMM has engaged a highly capable team to conduct the first phase of its exploration program at the Gorge Project, who has a demonstrable record in the district, as well as strong relations with the First Nations communities in the area.
The Company has commenced mapping and sampling of the entire project area. This is planned to be followed by trenching and soil analysis. Subject to favourable results, BMM intends on drilling throughout the fall and winter as the appropriate drilling targets are identified.
Managing Director Ross Cotton commented:
“I would like to thank our dedicated team on the ground who have not wasted a moment to get our work project underway. I also again thank our team in both Australia and Serbia who have worked tirelessly to move BMM forward. We are extremely excited about our strategic move into a Tier 1 mining Jurisdiction in Ontario, Canada. The initial results were a great start for the Company, we look to build on these results as we embark on our planned mapping, sampling and trenching programs.”
Click here for the full ASX Release
This article includes content from Balkan Mining, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Asia Pacific has been at the centre of the lithium-ion battery supply chain, with China leading the way in many aspects while Japan and Korea have had a legacy role as well.
But as the world prepares to meet the increasing demand from the green energy transition, the region now has an opportunity to scale up the supply of key battery raw materials, including lithium, cobalt, nickel, manganese and graphite.
Australia is a top lithium producer, while Indonesia currently has a strong position on the nickel and cobalt markets. China dominates most of the refining for these metals and accounts for the majority of natural flake graphite production.
Lithium prices have been on the rise since last year, as strong demand from the electric vehicle sector paired with tight supply has sent prices through the roof.
“We don't see much of a possibility of a balanced market out until at least the mid 2020s, so up until 2026. And even still in that scenario, it's going to be fairly tight,” Cameron Perks of Benchmark Mineral Intelligence told the audience of the Battery Gigafactories Asia Pacific conference in Perth last week.
When looking at how the electric vehicle sector developed historically, China and its subsidy policy played a key role.
“What we're seeing this time around with the Europeans entering, the North Americans entering this market, is something in my personal view the Chinese never had and that's this concept of brand allegiance with their consumers,” Ron Mitchell of Global Lithium (ASX:GL1) said.
Asia remains the major source of demand for lithium, despite the spread of new battery manufacturing capacity into Europe and the US.
World demand for lithium is estimated to increase from 583,000 tonnes of lithium carbonate equivalent in 2021 to 724,000 tonnes in 2022, according to the Office of the Chief Economist. Over the following two years, demand is forecast to rise by over 40 percent, reaching 1,058,000 tonnes by 2024.
In order to bring new supply into the market, one of the main challenges that the sector is facing is expertise.
“We are seeing it everywhere — people are the biggest challenge for our business, securing the right people,” Jerko Zuvela of Argosy Minerals (ASX:AGY) said. “You need collaboration, you need partnerships, you need strategic enhancements to work together.”
Another big factor is finding the right resource.
“The main thing today that you can identify is people and followed by that is trying to find the next available economic deposit to be developed, and it is becoming tricky,” JP Vargas de la Vega of Galan Lithium (ASX:GLN) said. “Even if you use direct lithium extraction or other technologies, there are things that need to be taken into account. Is there power? Is there water available?”
Original equipment manufacturers are looking for consistency and product quality, and many are looking to lithium supply chains outside China, Mitchell pointed out. Australia could grab 20 percent of the world’s lithium refining in the next five years.
“This industry is still very much in its infancy. So it's not easy doing what these downstream plants are doing here in Western Australia,” Mitchell said. "They're the first movers."
For nickel and cobalt, the Asia Pacific region as a whole is going to be a driving force in the coming years.
“You can see the vast potential just from Indonesia, for nickel and cobalt supply,” Harry Fisher of Benchmark Mineral Intelligence said. “There are, of course, other parts of the APAC region that are important to a lesser extent, but it's definitely worth noting projects in Papua New Guinea, in the Philippines and Japan.”
The story for manganese is a bit different. Even though it is a very large existing market, batteries still remain a very small proportion of that market. But about 90 percent of the current manganese supply comes from China alone.
“It is still fairly early days, but you can see in our demand forecast how higher manganese intensity chemistries could infiltrate pharma going forward,” Fisher said. “And I think if there's further technology development, then there's definitely more upside for manganese.”
Discussions around lithium ion batteries would not be complete without looking at the anode space, and its key raw material input ― graphite.
According to data from Benchmark Mineral Intelligence, the average 30 gigawatt hour giga factory will require around 80,000 tonnes of flake graphite, or 45,000 tonnes of synthetic graphite.
About 70 percent of flake graphite mining is happening in China, and practically 100 percent of all of the processing as well. The country accounts for around 80 percent of the anode production.
As of 2022, Benchmark Mineral Intelligence expects the demand from the lithium-ion battery sector alone will overtake all of the other demand sectors for flake graphite. By the end of the decade, it sees demand from the battery side of things matching, if not out-competing demand from all of the other sectors for synthetic graphite.
“Regardless of the split that we're expected to see between natural and synthetic supply, the market is entering a period of unprecedented demand growth,” senior analyst Daisy Jennings-Gray said.
To meet the increasing demand growth, supply expansions are critical, and investment is going to be massively needed in the sector.
“We're looking at another 97 graphite mines being built out to 2035 to meet the current pipeline demand. So really, really big moves need to be taken on the anode side of the industry to contribute to the growth story,” Jennings-Gray said.
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Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Galan Lithium is a client of the Investing News Network. This article is not paid-for content.
ALBemarle Corporation (NYSE: ALB), a leader in the global specialty chemicals industry, announced today that it will release its third-quarter 2022 earnings after the NYSE closes on Wednesday, November 2, 2022 .
The company will hold its conference call to discuss third-quarter 2022 results on Thursday, November 3, at 9:00 a.m. ET . This call will be webcast and can be accessed through Albemarle Corporation's website at http://investors.albemarle.com , via the webcast link below or by phone at the following numbers:
PARTICIPANT INFORMATION (Public): Canada dial-in number (Toll Free): 1 833 950 0062 Canada dial-in number (Local): 1 226 828 7575 United States : 1 844 200 6205 United States (Local): 1 646 904 5544 All other locations: +1 929 526 1599 Participant Access code: 527598 *Participants will need to enter the participant access code before being met by an operator. Please include this when sending details to participants.
Webcast Details Event Title: Q3 2022 Albemarle Corporation Earnings Conference Call Event Date: November 3, 2022 Start Time: 09:00 AM (GMT -04:00) Eastern Time (US and Canada )
Attendee URL (Public): For inclusion in your invitations to webcast attendees. https://events.q4inc.com/attendee/735285311
To avoid registration wait times, participants are encouraged to use the webcast link as the primary listening source. If a caller is anticipating asking a question, please dial in 15 minutes before the start of the call to be placed in the queue early.
An online replay of this call will be available on Albemarle Corporation's website (for 12 months) and by phone at the following numbers (for 7 days):
Accessing the telephone replay A recording will be available until Thursday, November 10, 2022 UK (Local): 0204 525 0658 US (Local): 1 929 458 6194 US Toll Free: 1 866 813 9403 Canada : 1 226 828 7578 All other locations: +44 204 525 0658 Access Code: 900408
About Albemarle ALBemarle Corporation (NYSE: ALB) is a global specialty chemicals company with leading positions in lithium, bromine and catalysts. We think beyond business as usual to power the potential of companies in many of the world's largest and most critical industries, such as energy, electronics, and transportation. We actively pursue a sustainable approach to managing our diverse global footprint of world-class resources. In conjunction with our highly experienced and talented global teams, our deep-seated values, and our collaborative customer relationships, we create value-added and performance-based solutions that enable a safer and more sustainable future.
We regularly post information to www.albemarle.com , including notification of events, news, financial performance, investor presentations and webcasts, non-GAAP reconciliations, SEC filings and other information regarding our company, its businesses and the markets it serves.
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further High-Grade Intersections From Colina Resource Drilling8.45m @ 3.57% Li2o Including 4.17m @ 5.79% Li2o
SADD033: 1.78m @ 1.33% Li2O (120.53 - 122.31m) 1.67m @ 1.36% Li2O (275.38 - 277.05m) 18.71m @ 1.32% Li2O (321.15 - 339.86m) incl: 4.00m @ 1.94% Li2O (322.00 - 326.00m) and: 4.00m @ 1.58% Li2O (334.00 - 338.00m)
SADD031: 3.15m @ 2.12% Li2O (289.30 - 292.45m) 8.45m @ 3.57% Li2O (306.00 - 314.45m) incl: 4.17m @ 5.79% Li2O (309.10 - 313.27m)
Latin Resources’ Exploration Manager, Tony Greenaway, commented:
“The significance of these latest results from hole SADD033 cannot be understated. They confirm that we have a second zone of high-grade lithium bearing pegmatite only 500m to the west of the main Colina resource drilling. This new zone is open in all directions including along strike to the north and south, up-dip to the mapped outcrop which drew us to this area and extending at depth to the east beneath Colina.
“Colina West has the potential to add considerable resources to the Company’s maiden JORC Mineral Resource Estimate, which is on track to be delivered in December this year and proves the exceptional prospectivity of the wider project area to the west where the Company has mapped even more outcropping pegmatites that are yet to be drilled.
“Now that the drilling needed for the maiden inferred mineral resource estimate for Colina is completed, we can let loose with drilling at Colina West, with the aim of potentially incorporating this second area into the PEA and other studies that the Company has underway.”
Click here for the full ASX Release
This article includes content from Latin Resources Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
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