Avalon
Advanced Materials Inc. (TSX: AVL, OTC: AVLNF, Forum) provided investors with an update on its Separation Rapids Lithium Project on Wednesday. Since the beginning of the summer, metallurgical test work had been progressing on several fronts to reduce costs, improve recoveries, and optimize lithium product quality. Looking ahead, AVL intends to further assess opportunities in the market that would both serve the glass-ceramics market with its lithium mineral (petalite) product and the lithium battery materials market with its high purity lithium hydroxide product.
Avalon is also investigating collaborative opportunities to establish a lithium processing facility in Northwestern Ontario, given the provincial government’s interest in establishing new battery materials supply chains.
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This Canadian mineral development company recently completed a non-brokered private placement consisting of six million flow-through units at a price of $0.09 per unit for gross proceeds of
$540,000.
The proceeds from this offering will be used primarily to continue to advance the Company's Separation Rapids Lithium Project, situated approximately 70 km by road north of Kenora, Ontario.
FULL DISCLOSURE: Avalon Advanced Materials Inc. is a client of Stockhouse Publishing.