Desert Lion Energy Inc - Ordinary Shares DSLEF

RE:RE:RE:RE:RE:Short volume going down!

[foundryman]

They're already producing, with an initial shipment slated on/before mid-April. The stockpiles are historical material by a previous operator, leftover due to that particular concentrate not being worth much at the time it was mined. Over time, the type of materials required in batteries has changed, and DLI found itself in a position where these leftover stockpiles were now worth a fair amount.

DLI is currently crushing and organizing stockpiles, with an offtake deal already in place. Next year they intend to start pulling more material from in situ resources, with the ultimate plan being to build a lithium carbonate conversion plant in 2020/2021. While investors will enjoy the FCF generated in the interim, the company will be putting that cash from startup operations towards developing the maiden resource and further stages of production.