from the ASX...San José Lithium Project
Investigation Permit Valdeflorez Application ('PIV') research permit was cancelled on 6 April 2021.
Investigation Permit Ampliacion Valdeflorez (‘PIAV’) remains granted and in good standing with Infinity holding a 75% interest in the Joint Venture Tecnología Extremeña Del Lito S.L. (‘TEL’). The PIV and PIAV permits comprise the San Jose Lithium Project.
Test work continued to progress with our partners in Germany under phase one of the Project Agreement.
Battchain Consortium Submitted €1.2B Application for Virus Recovery Funds.
Corporate
A$15 million Placement completed.
Head of Corporate Development Appointed.
5th Ministerial Meeting of the European Battery Alliance prioritised sustainable local sourcing and processing of raw materials used in batteries – funds available through Coronavirus Recovery & resilience plans and the European Investment Bank.
Available cash as at 31 March 2021 of A$19.52 million.
Infinity Lithium Corporation Limited (‘Infinity’, or ‘the Company’) advises that it has received notification from the Junta de Extremadura (the regional government of Extremdura) (‘Junta’) advising of the cancellation of Investigation Permit Valdeflorez (‘PIV’) research permit at the San José Lithium Project (‘San José’). The decision is unexpected and follows the resolution of the Junta granting the Investigation Permit Ampliacion Valdeflorez (‘PIAV’), as announced on 23 December 2020.
Commitments to raise A$15 million before costs received to advance the San José Lithium Project.
Placement strongly supported with significant funds from international and domestic institutions and existing investors.
Placement proceeds will significantly strengthen the balance sheet to enable the acceleration of the San José Feasibility Study and project related work in the region.
Infinity fully financed for completion of the Feasibility Study to be released in Q4 2021.
Infinity part of EIT InnoEnergy led Battchain consortium submission for €1.2b of Coronavirus Recovery Funds.
€750b Coronavirus Recovery Fund comprises some €140b earmarked for Spain in the form of grants and low-interest loans.
Battchain is focused on the development of industrial projects in the Spanish automotive sector.
San José Lithium Project capable of becoming the cornerstone proponent in Battchain with the potential to provide battery grade lithium hydroxide.
San José Lithium Project
Key Investigation Permit Ampliacion a Valdeflorez granted.
The Extremadura Department of Mines continued to advance Investigation Permit Valdeflorez.
Test work momentum maintained in the EU despite the impacts of the pandemic.
Test work undertaken by Dorfner Anzaplan, as funded by EIT InnoEnergy, confirmed the first stages of PFS assumptions for flotation recoveries.
Corporate
Entitlement Offer successfully completed, raising A$2.4m before costs.
Highly credentialled technical expert Jon Starink appointed to the Board and executive management.
Lithium expert Dr. David Maree appointed to newly established Technical Advisory Committee.
Cayetano Polo appointed of Head of Institutional Relations in Spain.
Available cash as at 31 December 2020 of A$4.77 million.
EIT InnoEnergy to fund commitments for phase one test work completion under the Project Agreement for up to €400,000 (A$0.7 million).
Junta of Extremadura announces the granting of Investigation Permit Ampliacién a Valdeflorez.
The Extremadura Department of Mines continuing to advance Investigation Permit Valdeflorez.
Derived exploitation concession application progressing towards Iodgement next year
Positive results: test work outcomes have achieved an improvement on the PPS open circuit flotation recoveries.
Potential to achieve a substantial improvement in Li2O recoveries in closed circuit test work.
Test work momentum maintained in the EU despite the impacts of the pandemic.
San José Lithium Project Infinity’s San José Lithium Project became the first lithium project to secure European funding from EIT InnoEnergy as part of a multi-level investment agreement. The EIT InnoEnergy transaction includes: staged funding of up to €800,000 to fund phase one of a pilot plant for the San José Lithium Project; support for fundraising activities for phase two pilot plant (investment of up to €2.4 million); an assistance agreement to support fundraising activities for up to €300 million in debt and equity investment to fund the Project; support and facilitation of negotiations with European off-takers through the European Battery Alliance network; support in obtaining the necessary environmental approvals and societal acceptance for the Project, and in enabling Infinity’s strategic role in the European Lithium-Ion Battery value chain; and collaboration between Infinity, EIT InnoEnergy and Dorfner Anzaplan through a European based IP licensing agreement for application to the EU’s significant lithium-mica resources. EIT InnoEnergy is the public private partnership supported by the EU Commission, and mandated to lead the industrial stream of the European Battery Alliance Infinity presented San José Lithium Project to European Commission and European Investment Bank during the quarter.
Infinity’s San José Lithium Project is the first lithium project to secure European funding from EIT InnoEnergy as part of a multi-Ievel investment agreement; EIT InnoEnergy is the public private partnership supported by the EU Commission, and mandated to lead the industrial stream of the European Battery Alliance; EIT InnoEnergy funding includes a staged amount of up to €800,000 to fund phase one of a pilot plant for the San José Lithium Project; EIT InnoEnergy will support fundraising activities for phase two pilot plant (investment of up to €2.4 million); Funding is accompanied by an assistance agreement to support fundraising activities for up to €300 million in debt and equity investment to fund the Project; EIT InnoEnergy will support and facilitate negotiations with European off-takers through the European Battery Alliance network; EIT InnoEnergy will support Infinity in obtaining the necessary environmental approvals and societal acceptance for the Project, and in enabling Infinity’s strategic role in the European Lithium-Ion Battery value chain; Collaboration between Infinity, EIT InnoEnergy and Dorfner Anzaplan through a European based IP licensing agreement for application to the EU’s significant lithium-mica resources.
