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AutoNation Inc V.AN


Primary Symbol: AN

AutoNation, Inc., through its subsidiaries, is an automotive retailer in the United States. The Company operates through three segments: Domestic, Import and Premium Luxury. Its Domestic segment consists of retail automotive franchises that sell new vehicles manufactured by General Motors, Ford, and Stellantis. Its Import segment consists of retail automotive franchises that sell new vehicles manufactured primarily by Toyota, Honda, Hyundai, Subaru, and Nissan. Its Premium Luxury segment consists of retail automotive franchises that sell new vehicles manufactured primarily by Mercedes-Benz, BMW, Audi, Lexus, Jaguar, Bentley, and Land Rover. The franchises in each segment also sell used vehicles, parts and automotive repair and maintenance services, and automotive finance and insurance products. It owns and operates approximately 349 new vehicle franchises from 252 stores located in the United States, primarily in metropolitan markets in the Sunbelt region.


NYSE:AN - Post by User

Post by Gromoreon Jun 28, 2022 9:42am
117 Views
Post# 34787051

Arena produces 35% LiCl from Sal de la Puna brine

Arena produces 35% LiCl from Sal de la Puna brine

 

Arena produces 35% LiCl from Sal de la Puna brine

 

2022-06-27 13:03 ET - News Release

 

Mr. William Randall reports

ARENA MINERALS PRODUCES 35% LITHIUM CHLORIDE IN PILOT TESTING AT SAL DE LA PUNA PROJECT

Brine processing at Arena Minerals Inc.'s pilot facilities has successfully reached concentration levels of 35 per cent lithium chloride (LiCl) in phase I and phase II testing. The LiCl product was produced by treating raw brine from the Sal de la Puna lithium brine project ("SDLP"), located in the Pastos Grandes basin, Salta, Argentina, with a calcium chloride reagent produced at the Company's 100% owned Antofalla project in Catamarca, Argentina ("Antofalla"). The treated brine was subsequently evaporated at the Company's on-site pilot facilities until the intended concentration levels were reached.

William Randall, President & CEO of Arena, said, "Reaching a 35% LiCl product with low impurity levels at SDLP is the key step to successfully deploying our business model. At Arena, we recognize the technical, execution, and financial risks of embarking on a business plan that contemplates building and operating both a ponding facility and battery grade lithium carbonate chemical plant. Our approach is to produce a battery grade lithium product directly from a ponding facility that reduces the environmental impact, time frame to cashflow, minimizes operational risk and lowers the capital requirements." He continued, "Realizing a 35% LiCl product in our on-site facilities is the most important cornerstone in achieving this vision."

Eduardo Morales, Executive Chairman of Arena, stated, "We are very pleased with the concentration profiles of the SDLP brine and production of 35% LiCl directly from evaporation ponds. The impurity levels in the final product from our Phase I and II testing are very low, indicating that we can indeed produce a high purity product suitable for the battery and lithium metal markets." He added, "We observed trends and reached product specifications similar to those achieved and commercialized at Atacama. We will continue pilot testing, focusing on process optimization, particularly on maximizing reagent efficiencies and recoveries."

A full breakdown of the composition of the 35% LiCl product obtained from Phase II pilot testing can be found below in Table 1. The high LiCl concentrations and low impurity levels demonstrate the quality required for a battery grade lithium carbonate plant feed. Of note are the low concentrations achieved for magnesium, sulphate, and boron, three influential elements for obtaining a competitive cash cost in a chemical plant.

The LiCl product was attained by treating raw SDLP brine with calcium chloride reagents produced at the Company's Antofalla project. The reagent used contains >11% calcium, 1200 ppm Li, and less than 100 ppm Mg. Antofalla's reagent contributes lithium to the system that translates into additional lithium head feed with a very negligible magnesium contribution.

The metallurgical program is jointly designed and supervised by the Company and BarryMor Ingenieria consultants. All brine samples are sent to SGS Laboratories, Salta, Argentina, an independent and fully international accredited laboratory for analysis for lithium multi-element Induction Coupled Plasma Spectroscopy. Arena has a regimented Quality Assurance, Quality Control program where at least 10% duplicates, blanks and standards are inserted into each sample shipment.

About Arena Minerals Inc.

Arena owns 65% of the Sal de la Puna Project covering approximately 11,000 hectares of the Pastos Grandes basin located in Salta, Argentina. The claims are highly prospective and share the basin with two advanced lithium brine projects. In addition to Sal de la Puna, the Company owns the Antofalla lithium brine project in Argentina, consisting of four claims covering a total of 6,000 hectares of the central portion of Salar de Antofalla, located immediately south of Albemarle Corporation's Antofalla project. Arena has developed a proprietary brine processing technology using brine type reagents derived from the Antofalla project with the objective of producing more competitive battery grade lithium products.

Arena also owns 80 percent of the Atacama Copper property within the Antofagasta region of Chile, and 5.8 million shares of Astra Exploration. The projects are at low altitudes, within producing mining camps in infrastructure-rich areas, located in the heart of Chile's premier copper mining district.

For more information regarding the Company, its management, expertise, and projects, please visit www.arenaminerals.com. An email registration allowing subscribers to directly receive news and updates is also available on the website.

The technical information contained in this news release has been reviewed and approved by William Randall, P.Geo, who is a Qualified Person as defined under NI 43-101. Mr. Randall is a director and is the Chief Executive Officer and President of Arena.

We seek Safe Harbor.

© 2022 Canjex Publishing Ltd. All rights reserved.

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