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Core Lithium confident Finniss Project well-placed to cater for post-COVID demand for lithium

Core Lithium Ltd (ASX:CXO) has progressed development of the Finniss Lithium Project during 2020 as it prepares to cater for an expected surge in demand for lithium in the post-COVID economy.

During FY20, the company received a non-binding indicative term sheet with the Local Jobs Fund (LJF) from the Northern Territory Government for a $5 million concessional Finance Facility to help fund development of the project.

With project approvals now in place and the mine management plan approved by the Northern Territory Government, the next steps are to finalise the definitive feasibility study (DFS) and project financing.

Offtake agreements secured[hhmc]
During the past six months, the company has signed offtake agreements with its first European Offtake MOU with Geneva-based Transamine for 50,000 tonnes per annum and an MOU for 20,000-30,000 tonnes per annum with Xinfeng, which are in addition to a binding offtake for 75,000 tonnes per annum with Sichuan Yahua.

Core chairman Greg Engli..

Core Lithium Ltd (ASX:CXO) has progressed development of the Finniss Lithium Project during 2020 as it prepares to cater for an expected surge in demand for lithium in the post-COVID economy.

During FY20, the company received a non-binding indicative term sheet with the Local Jobs Fund (LJF) from the Northern Territory Government for a $5 million concessional Finance Facility to help fund development of the project.

With project approvals now in place and the mine management plan approved by the Northern Territory Government, the next steps are to finalise the definitive feasibility study (DFS) and project financing.

Offtake agreements secured


During the past six months, the company has signed offtake agreements with its first European Offtake MOU with Geneva-based Transamine for 50,000 tonnes per annum and an MOU for 20,000-30,000 tonnes per annum with Xinfeng, which are in addition to a binding offtake for 75,000 tonnes per annum with Sichuan Yahua.

Core chairman Greg English said: “The three offtake agreements collectively represent approximately 85% of our first three years of annual spodumene production from the Finniss Lithium Project.

“We aim to convert the Xinfeng and Transamine agreements to legally binding offtake agreements with the possibility of project finance.”

World map of Darwin port relative to existing and potential offtake partners.

DFS pending


The company has delivered successive resource upgrades, increasing the Finniss ore resources by more than 50%, ore reserves by in excess of 150% and extended the mine life to seven years.

English said: “Over the past two years, we have completed several technical studies to support the development of the Finniss Lithium Project and to integrate new and expanded mining operations at BP33 and Carlton.

“The inclusion of underground mining at BP33 and Carlton improves the overall economics of the Finniss Lithium project and allows Core to extend the mine life to seven years.”

Test-work to date has confirmed that the project could produce a 6.0% Li2O concentrate at an overall lithium recovery of 71% (6.3 millimetre crush size).

The company is in the process of completing a DFS for the more extensive operation and this is expected to enhance the prospects of the project.

Exploration ongoing


While the company did not experience any material disruption, COVID-19 restrictions hindered its short-term ability to explore the project and other Northern Territory tenements.

However, recent government changes have seen the company recommence fieldwork and exploration activities.

English said: “Our recent exploration activity has been focused on the Finniss Lithium Project, and this work has led to significant discoveries at BP33, Carlton, Sandras and Hang Gong.

“Regional exploration was limited to our newly acquired Adelaide River Gold Project where we have undertaken some reconnaissance rock chip and associated low impact exploration activities.

“While we remain focused on developing the Finniss Lithium Project, we believe that our Adelaide River project, Napperby uranium and Blueys silver project hold considerable value and will look for opportunities to realise value from these projects.”

Spodumene price outlook


English noted that the COVID-19 pandemic had led to adverse economic conditions and a general worldwide economic downturn which had caused softer market conditions in China and weaker customer demand for lithium raw materials.

This not only impacts spodumene prices but prices across the entire lithium raw materials and chemicals product suite.

He said: “Many market analysts expect spodumene prices to recover soon as the demand increases for lithium-ion batteries and green energy products.

“Current modelling shows that the Finniss Lithium Project offers attractive returns for shareholders with the scope and economic potential of this operation will take more precise shape as we complete the DFS.”

Benchmark Mineral intelligence Q2 2020 forecast.Read More – Source

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European Lithium raises A$2.1 million for Wolfsberg project as EU kick-starts plan to build battery supply chain

European Lithium Limited (ASX:EUR) (FRA:PF8) (NEX:EUR) (VSE:ELI) has completed a A$2.1 million share placement to progress its Wolfsberg Lithium Project in Austria.

The placement was strongly supported by a number of existing shareholders and new sophisticated and professional investors and investment funds.

Funds raised will be applied to metallurgical test-work of bulk samples from Wolfsberg to qualify product specifications for offtake partners and end-use applications in support of EURs definitive feasibility study (DFS).

Action plan on critical raw materials[hhmc]
EURs strategy to serve Europes pursuit of a cleaner and greener energy future has been enhanced by a strategic engagement with Talaxis Limited and subsequent appointment of Kimon Gkomozias as executive director to lead its development strategy in Europe.

This will assist EUR tap into the European Battery Alliance network, which is estimated to be worth EU250 billion from 2025 onwards.

Gkomozias said: “The European U..

European Lithium Limited (ASX:EUR) (FRA:PF8) (NEX:EUR) (VSE:ELI) has completed a A$2.1 million share placement to progress its Wolfsberg Lithium Project in Austria.

The placement was strongly supported by a number of existing shareholders and new sophisticated and professional investors and investment funds.

Funds raised will be applied to metallurgical test-work of bulk samples from Wolfsberg to qualify product specifications for offtake partners and end-use applications in support of EURs definitive feasibility study (DFS).

Action plan on critical raw materials


EURs strategy to serve Europes pursuit of a cleaner and greener energy future has been enhanced by a strategic engagement with Talaxis Limited and subsequent appointment of Kimon Gkomozias as executive director to lead its development strategy in Europe.

This will assist EUR tap into the European Battery Alliance network, which is estimated to be worth EU250 billion from 2025 onwards.

Gkomozias said: “The European Union (EU) has commenced an ambitious plan to build and reshape its battery supply chain.

“The European Commissions recently announced Action Plan on Critical Raw Materials, is looking at the current and future challenges and actions to reduce Europe's dependency on third world countries, diversifying supply from both primary and secondary sources and improving resource efficiency while promoting responsible sourcing worldwide.

“It contains 30 critical raw materials. Lithium, which is essential for a shift to e-mobility, has been added to the list for the first time.

“EUR is well-timed and well-positioned to benefit from Europes unprecedented need for lithium, contributing to the European integration of the lithium supply chain and capitalizing on the resulting growth of the regional lithium ecosystem.”

Placement details and notes redemption


EURs A$2.1 million share placement at 4.5 cents per share includes a 1 for 4 free attaching unlisted option exercisable at 5 cents on or before July 31, 2022.

In conjunction with the placement, EUR has redeemed 500 convertible notes issued to Winance using A$636,364 from the placement proceeds.

These notes were part of 2,000 convertible notes issued to Winance in March 2020, each with a face value of A$1,000.

More lithium needed by 2030


European Commission vice president (Interinstitutional Relations and Foresight) Maroš Šefčovič has said that a secure and sustainable supply of raw materials is a prerequisite for a resilient economy.

He added: “For e-car batteries and energy storage alone, Europe will for instance need up to 18 times more lithium by 2030 and up to 60 times more by 2050.

“As our foresight shows, we cannot allow to replace current reliance on fossil fuels with dependency on critical raw materials.

“This has been magnified by the coronavirus disruptions in our strategic value chains.

“We will therefore build a strong alliance to collectively shift from high dependency to diversified, sustaiRead More – Source

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Vital Metals signs term sheet to negotiate construction of Canadian rare earth extraction plant

Vital Metals Ltd (ASX:VML) has signed a binding term sheet with Saskatchewan Research Council (SRC) to negotiate definitive agreements for the construction and operation of a rare earth extraction plant in Saskatoon, Canada, to produce mixed rare earth carbonate products.

Last month, the government of Saskatchewan and the SRC announced a C$31 million funding package for the construction of Canadas first rare earth processing and separating facility in Saskatoon.

Vitals proposed rare-earth extraction plant is planned to be adjacent to SRCs separation plant, which will convert mixed rare earth carbonate to commercial grade-separated rare earth oxides

SRCs facility will require mixed rare earth carbonate product for separation making Vital a likely customer.

Important milestone[hhmc]
Vital Metals managing director Geoff Atkins said: “The signing of this term sheet with SRC marks an important milestone for Vital and the development of the Nechalacho project.

“Whilst the definitive agr..

Vital Metals Ltd (ASX:VML) has signed a binding term sheet with Saskatchewan Research Council (SRC) to negotiate definitive agreements for the construction and operation of a rare earth extraction plant in Saskatoon, Canada, to produce mixed rare earth carbonate products.

Last month, the government of Saskatchewan and the SRC announced a C$31 million funding package for the construction of Canadas first rare earth processing and separating facility in Saskatoon.

Vitals proposed rare-earth extraction plant is planned to be adjacent to SRCs separation plant, which will convert mixed rare earth carbonate to commercial grade-separated rare earth oxides

SRCs facility will require mixed rare earth carbonate product for separation making Vital a likely customer.

Important milestone


Vital Metals managing director Geoff Atkins said: “The signing of this term sheet with SRC marks an important milestone for Vital and the development of the Nechalacho project.

“Whilst the definitive agreements continue to be finalised in line with the term sheet, the company is excited about the prospect of the construction and operation of a rare earth demonstration extraction plant, as well as it being co-located with SRCs recently announced rare earth separation plant.

“Being the only rare earth project in Canada with near-term production capability, co-located with Canadas only separation facility, provides Vital the opportunity to be a cornerstone of the North America Critical Minerals Strategy.”

SRC facility


The SRC rare earth processing facility will include the construction and operation of a rare-earth separation plant, which will convert mixed rare earth carbonate feedstock into commercial grade-separated rare earth oxides.

Construction is anticipated to start in the fourth quarter of 2021 and the plant is expected to be fully operational in late 2022.

Rare earth extraction plant

Vital has signed the binding term with SRC through its 100% subsidiary Cheetah Resources.


The capital cost of the proposed rare earth extraction plant bRead More – Source

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archTIS set to become global-leading information security company in 2021 after transformational 2020

archTIS Ltd (ASX:AR9) is set to establish itself as a global-leading information security company in 2021 after a transformational year in 2020 with the launch of its Kojensi software platform.

Described as a “defining year” focused on establishing product-market fit and associated sales opportunities, the company has been extremely busy with the launch of the highly secure and trusted platform for sharing sensitive and classified files and document collaboration.

Opportunities for continued growth[hhmc]
Chairman Miles Jakeman said: “With product-market fit now being established and the veracity of the underlying technology proven, there are many opportunities to continue growing the archTIS business in public and private markets.

“We expect growth to be organic and from selected merger and acquisition opportunities should they arise.”

Solid sales pipeline[hhmc]
The Kojensi software platform has made inroads into the target government market, with high-profile client wins include t..

archTIS Ltd (ASX:AR9) is set to establish itself as a global-leading information security company in 2021 after a transformational year in 2020 with the launch of its Kojensi software platform.

Described as a “defining year” focused on establishing product-market fit and associated sales opportunities, the company has been extremely busy with the launch of the highly secure and trusted platform for sharing sensitive and classified files and document collaboration.

Opportunities for continued growth


Chairman Miles Jakeman said: “With product-market fit now being established and the veracity of the underlying technology proven, there are many opportunities to continue growing the archTIS business in public and private markets.

“We expect growth to be organic and from selected merger and acquisition opportunities should they arise.”

Solid sales pipeline


The Kojensi software platform has made inroads into the target government market, with high-profile client wins include the Commonwealth Attorney Generals Department, Commonwealth Ombudsman and the Australian Criminal Intelligence Agency.

It also moved into industries servicing the government which also need to share sensitive and classified information, culminating in wins in the education and space sector with Curtin University and the defence industry sector with Northrup Grumman.

The Curtin University opportunity also provided product development opportunities in securing Big Data analytics.

These sales have not only secured annual recurring revenue but this is expected to grow as clients continue to use Kojensi to share their trusted information with external parties.

This has validated Kojensis market demand, Jakeman said, adding that the archTIS was continuing to refine and add features to the core product to offer customers an enhanced experience in the cloud and on-premise.

In certain cases, this additional research and development effort was part-funded by customers.

The company has now established a solid sales pipeline to be further executed over the next 12 months.

It has seen just under $5.2 million in contract renewals and new wins in the first quarter of this financial year – more than double the entire prior year.

Its activities have generated a sales pipeline of over $15 million of opportunities to be executed in the 2021 financial year.

Chief executive officer Daniel Lai said: “This has come at a time when the Australian Prime Minister has announced a significant increase in targeted cyber-attacks across the country against government institutions, industry and businesses.

"This was followed by the announcement of a $1.67 billion investment into Cyber Security by the Morrison government and a further $15 billion investment to deal with the information and cybersecurity needs within the Australian Department of Defence across the next 10 years.

“archTIS is in a strong position to capitalise on this large market opportunity, “ Lai added.

Key partnership with DXC Technologies


archTIS also signed a key partnership agreement with DXC Technologies during the year to further expose the Kojensi platform to the market and increase sales opportunities.

Under the deal, DXC will offer Kojensi as a managed service to their National Security Community clients opening significant growth opportunities for Kojensi sales and a pathway to access up to 7,000 users in the Australian National InRead More – Source

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