E3 Lithium Ltd V.ETL

Aug 24 Filing

[Dibah420]

Direct Lithium Extraction (“DLE”) Field Pilot Plant On May 16, 2023, E3 Lithium began field pilot plant site construction and on August 3, 2023 construction was complete. The field pilot is designed to test and validate DLE technology in real-world operating conditions to develop the design and cost estimates for E3 Lithium’s first commercial facility. Outlined below are a set of parameters, or key performance indicators (“KPIs”), for the field pilot plant. E3 Lithium believes that achieving these KPIs will facilitate a design basis for the Pre-Feasibility Study (“PFS”) and provide a viable commercial operation. Along with testing its DLE technology to demonstrate commercial viability, E3 Lithium will also be testing third-party technology at its field pilot plant this summer and fall. Based on the results of testing, commercial readiness and economics, the Company will decide which technology to pursue for its first commercial facility. Choosing the appropriate technology path for the first plant will enable E3 Lithium to get to commercial operations as quickly as possible and reduce its project technology risk while controlling the cost and quality of the process and end product. The Company is working through the full process design for its PFS while taking into account data produced from the pilot, and in which fulsome project economics will be outlined. On July 6, 2023, the Company selected Fluor Corp. as its prime Engineering, Procurement and Construction (EPC) company to lead its PFS for the Clearwater commercial project. Fluor will provide overall PFS project management, design and oversight, and will be coordinating with several other firms hired by E3 Lithium that will provide specialty engineering services that include reservoir and well design, technical reports, and environmental studies. 3 Pilot KPIs E3 Lithium will measure the success of the field pilot plant against the KPIs below. Success Criteria Key Performance Indicator (KPI) Description Lithium recovery ≥ 80% Mass of lithium recovered from the mass of lithium in the feed Lithium grade in the lithium product stream ≥ 25% Concentration of lithium relative to other impurities (Na+K+Ca+Mg+Mn+Sr+B) ≥ 600 mg/L Concentration of lithium in the lithium product stream Flow rate ratio ≥ 3 Brine flow rate divided by the system volumetric capacity

[My19sixyNineZ]

The April 43-101 section 26.2 & 26.3 shows cash needs $16m. After that raised $5m. Treasury went to $19m & still to receive $3m from Govt = $22m. Chris said they keep minimum $3m in bank. So overall they're currently cashed up to commercial status. By then, they'll have Capx partners figured out too.

[NoBigDealbcl]

There further ahead then we think, the pilot is news is just around the corner, with KPI's.  Concurrently the PFS is moving forward, and I would expect to hear about the finial Li refining to battery grade soon as well.  Then we have of takes ....