NLC mentioned in the articleIt's been so quite here, and we all are waitting for the next NR. NLC's SP has been weak recently, and inside selling does not help the SP. I am not worried about the inside selling, as long as Waldo is STRONG and has his FAITH!
tiger
Here is an article mentioned about NLC.
https://www.northernminer.com/news/battery-metals-snapshot-eight-companies-developing-critical-metals-for-the-future/1003829515/
Neo Lithium (TSXV: NLC; US-OTC: NTTHF) is working to deliver a feasibility study for its 3Q lithium brine project in Argentina’s Catamarca province, 100 km from the town of Fiambala, in the third quarter of this year. The 350-sq.-km site includes a 160-sq.-km salar (dry lake) complex.
A 2019 prefeasibility study for the project suggests a 35-year conventional evaporation operation that would then purify and precipitate lithium carbonate. The brine would be processed at two locations, Fiambala, 100 km from 3Q, and at Recreo, 465 km from Fiambala.
The mine would generate an average of 20,000 tonnes of lithium carbonate a year at cash operating costs of US$2,914 per tonne. Based on an initial capital cost estimate of US$319 million, and lithium carbonate prices between US$11,500 and US$16,000 a tonne, the after-tax net present value estimate for this project stands at US$1.1 billion, at an 8% discount rate, with a 49.9% internal rate of return.
The feasibility study will focus on a scenario producing 20,000 tonnes of lithium carbonate a year, with an optional expansion to 40,000 tonnes a year once the first phase is established.
In January, the company announced that its lithium carbonate pilot plant in Fiambala produced battery-grade lithium carbonate, with 99.797% purity, that meets “worldwide premium specifications.” Neo Lithium plans to continue optimizing the plant process for the feasibility.
The project includes a measured and indicated resource of 1.2 billion cubic metres grading 614 milligrams lithium per litre that contain 4 million tonnes of lithium carbonate and inferred resources of 939 million cubic metres at 584 milligrams lithium that add 2.9 million tonnes of lithium carbonate. The project’s reserves include 1.3 million tonnes of lithium carbonate.
According to Neo Lithium’s corporate presentation, the average grade of the 3Q project positions it as the fourth-highest grade lithium project worldwide.
In February, the company closed a $30.2 million bought deal financing.
In mid-March, Neo Lithium closed a $2.6 million equity investment by publicly traded China-headquartered Contemporary Amperex Technology Co. (CATL); the company has an 8% equity stake in Neo Lithium with a participation right to maintain its percentage holding. CATL is involved in the manufacturing of lithium-ion batteries.
Neo Lithium has a $369.2 million market capitalization.