from the ASX...Corporate – the funding position is strong (cash as of 31 March '21 of $13.3 million with no debt) and the share price traded at a 2-year high during the quarter, with strong trading volumes.
Recycling (Envirostream Australia Pty Ltd, 90% Company-owned):
Batteries (VSPC Ltd, 100% Company-owned):
Batteries (Soluna Australia Pty Ltd,50% Company-owned) – a distribution partnership with Legend Corporate Services Ltd ('Legend') has been secured and the supply of new, Clean Energy Council approved 10K Pack HV BESS subsequent to the end of the quarter.
Lithium chemicals – the Company’s patent application for its first-generation SiLeach® lithium extraction technology has been granted in the US and it is preparing to pilot-test its LieNA® spodumene conversion process at the ANSTO facilities in Sydney, New South Wales. Subsequent to the end of the quarter the Company entered into a commercialisation and licence agreement with Deutsche Rohstoff AG providing exclusive LieNA® licensing rights in Europe.
Raw materials
The Australian patent applied for by VSPC (a wholly owned subsidiary of Lithium Australia) for its proprietary cathode material manufacturing process has been accepted for grant.
VSPC's method of synthesising lithium metal phosphates confirmed to be novel and inventive.
Intellectual property protection for the VSPC process will last 20 years.
Lithium Australia's LieNA® pilot plant given the green light.
Pilot concentrate being prepared from spodumene-bearing drill chips.
Construction of critical pilot-plant components has begun, with order for autoclave placed.
Initial pilot-plant test run scheduled for September 2021.
Programme to be completed with a pre-feasibility study of the LieNA® process.
SiLeach® patent application granted by US Patent and Trademark Office.
SiLeach® patent application accepted by IP Australia.
SiLeach® patent application claims considered allowable by European Patent Office.
SiLeach®, which provides for low-energy recovery of lithium from micas, is potentially a short-cut in the production of lithium-ion batteries.
Corporate - strong funding position:
Recycling (Envirostream Australia Pty Ltd, 90% Company-owned):
Batteries (VSPC Ltd, 100% Company-owned):
Batteries (Soluna Australia Pty Ltd, 50% Company-owned):
Lithium chemicals - the Company’s US patent application for SiLeach® lithium extraction from micas was approved.
Raw materials:
An $8.5 million capital-raising through private placement and shareholder purchase plan (‘SPP’).
Convertible note repaid and no debt.
As at 30 Sept 2020, cash reserves were $9.2 million.
Battery recycling subsidiary Envirostream Australia Pty Ltd (‘Envirostream’ - 90% Company-owned) processed 80 tonnes of lithium-ion batteries (‘LIBs’).
The ACCC authorised the Battery Stewardship Council to establish and operate a national stewardship scheme for managing end-of-Iife batteries, which scheme is likely to significantly increase both Envirostream’s volumes and margins.
Envirostream signed electric vehicle (‘EV’) battery recycling agreements with two suppliers.
Company battery cathode subsidiary VSPC Ltd (‘VSPC’ - 100°/o Company-owned) produced high-quality Iithium-ferro-phosphate (‘LFP’) battery material.
Company battery sales subsidiary Soluna Australia Pty Ltd (‘Soluna Australia’ - 50% Company-owned) received Clean Energy Council (‘CEC’) approval for its three-phase energy-storage systems (‘ESS’) and commenced installations and sales.
The Company’s battery chemicals division completed stage 1 of the LieNA® Co- operative Research Centres Project.
The Company’s Iithium phosphate (‘LP’) recovery patent application was deemed to be novel, to involve an inventive step and to be applicable to industry.
Further studies undertaken on the Company’s Coates nickel/platinum group elements project.
The Company commenced a gold joint venture with Okapi Resources Ltd over its Lake Johnston project.
Share Purchase Plan raises $4.5 million. Envirostream Australia Pty Ltd (‘Envirostream’) business plan accelerated. Outstanding balance on convertible note from the Lind Macro Fund LP (‘Lind’) to be repaid.
Envirostream Australia Pty Ltd has signed recycling agreements with two additional batteries suppliers. Over the past 2 years, Envirostream has trialled the recycling of end-of-life battery packs from six different types of electric vehicles. The significance of these contracts are that Envirostream will become a first mover in the recycling of EOL EV batteries in Australia Envirostream expects to begin regular recycling of EOL EV battery packs over the next few weeks. Worldwide, numbers of spent lithium-ion batteries, including EV battery packs, are expected to grow rapidly, underpinning Envirostream’s business model.
Lithium Australia NL (ASX: LIT) (Company) requests a voluntary suspension of the securities of the Company, effective immediately. The Company provides the following information in relation to this request in accordance with ASX Listing Rule 17.2: 1. The voluntary suspension is requested pending the release of an announcement by the Company concerning a proposed agreement in regards to a recycling supply agreement with a major company. 2. The Company requests that the voluntary suspension remain in place until the earlier of the commencement of normal trading on Wednesday 26 August 2020 or when the anticipated announcement is released to the market. 3. The Company is not aware of any reason why the voluntary suspension should not be granted or of any further information necessary to inform the market about the trading halt.
High-performance battery cells produced using lithium recovered from mine waste and spent lithium-ion batteries ('LIBs'). Low-cost lithium used for battery cell production recovered as lithium phosphate ('LP') via proprietary Company technology. Testing of cells achieved results in excess of the capacity specifications of commercial battery-cell manufacturers. There is potential for Australia to become more competitive in terms of battery production.
Lithium Australia raises $4 million via heavily oversubscribed placement to institutions and sophisticated and professional investors. Lithium Australia launches Share Purchase Plan ('SPP'). Funds to be used to accelerate growth of Lithium Australia subsidiaries Envirostream Australia Pty Ltd (battery recycling) and Soluna Australia Pty Ltd (supplier of renewable energy storage systems). SPP allows eligible shareholders to subscribe for equity on terms identical to those for the placement to sophisticated and professional investors.
Soluna Australia provides energy-storage solutions for homes with single- or three-phase power throughout Australia. Soluna Australia receives initial orders for residential energy storage. Installations of Soluna Australia products for residential energy storage have commenced.
Expressions of interest sought to advance LieNA® commercialisation. LieNA® improves the sustainability of lithium production. LieNA® can recover lithium from spodumene that would otherwise report to waste streams. Lithium Australia’s refining technology provides direct feed for the production of lithium-ferro-phosphate ("LFP") batteries - the fastest growing sector of the battery industry. Pilot-plant construction supported by the Australian federal government.
Soluna Australia expecting positive cash flow by Dec 20 Qtr. Product approvals received, and; Indications of strong demand for battery energy storage solutions from both retail and commercial sources. Envirostream Australia revenue expected to grow significantly in Fy2021: Significant strengthening of commodity prices since March 2020; New copper and aluminium recovery circuits commissioned as copper and aluminium prices improve; Stock levels being reduced as spent battery supplies diminish, and Focus on widening battery collection initiatives to strengthen revenue. Reduction in outgoings Reduced activity in capital-intensive business units affected by travel bans. Cash at 30 June 2020 - $3.5 million, with significant R&D tax refunds over coming 6 months.
