CleanTech Lithium PLC (AIM: CTL), an exploration and improvement firm advancing sustainable lithium initiatives in Chile, publicizes that it now expects the Australian Securities Trade (“ASX”) itemizing to launch in April and full in Might. Whereas the ASX itemizing course of is taking longer than initially anticipated, the Board and our advisers imagine that ready for a constructive determination by the top of March on getting into the streamlined direct negotiation course of for the Particular Lithium Working Contract (“CEOL”) for Laguna Verde and finishing the Pre-Feasibility Research (“PFS”) will considerably strengthen our funding case within the Australian market.
The Firm additionally recognises that, below ASX itemizing guidelines, it’s going to now have to incorporate 2024 year-end audited financials (“2024 Financials”) within the ASX-listing Prospectus earlier than the Prospectus could be revealed. The 2024 Financials are well-advanced and anticipated to be launched by the Firm earlier than the top of March 2025, some three months sooner than usually deliberate in order that the Prospectus could be finalised shortly thereafter. The Prospectus may even embrace outcomes of the PFS, which is progressing effectively and is anticipated to be finalised and revealed in April.
The Firm has been knowledgeable by Tony Esplin, nominated as CEO designate in November 2024, that he has reconsidered his place and, for private causes, is not going to be taking on his meant appointment as CEO. Mr Esplin’s appointment was conditional on the profitable itemizing of the Firm on the ASX which is now anticipated to finish in Might. The Firm´s Govt Chairman, Steve Kesler, will proceed as interim CEO while the Board re-engages with various candidates because the CEO to guide CleanTech Lithium into its subsequent part of development.
Steve Kesler, Govt Chairman, CleanTech Lithium PLC commented:
“We imagine that pushing out the ASX itemizing to incorporate the decision permitting the Firm to enter direct negotiation with Authorities on the CEOL and outcomes from the PFS will likely be taken positively by Australian buyers. We remorse that Tony has determined to withdraw from the proposed appointment as CEO, and we’ll begin to re-engage with different excessive calibre candidates instantly.”
The Board believes the ASX itemizing will improve shareholder worth and can present additional updates on the ASX itemizing and CEO search in the end.
Investor Webinar
CleanTech Lithium will likely be internet hosting a reside webinar by way of the London Inventory Trade platform Spark Reside on Wednesday 26th February. This webinar will start at 13:00 GMT and buyers can register without spending a dime by way of this hyperlink: https://shorturl.at/5020m
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For additional data contact: |
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CleanTech Lithium PLC |
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Steve Kesler/Gordon Stein/Nick Baxter |
Jersey workplace: +44 (0) 1534 668 321 Chile workplace: +56 9 312 00081 |
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Or by way of Celicourt |
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Celicourt Communications Felicity Winkles/Philip Dennis/Ali AlQahtani |
+44 (0) 20 7770 6424 |
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Beaumont Cornish Restricted (Nominated Adviser) Roland Cornish/Asia Szusciak |
+44 (0) 20 7628 3396 |
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Fox-Davies Capital Restricted (Joint Dealer) Daniel Fox-Davies |
+44 (0) 20 3884 8450 |
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Canaccord Genuity (Joint Dealer) James Asensio |
+44 (0) 20 7523 4680 |
Beaumont Cornish Restricted (“Beaumont Cornish”) is the Firm’s Nominated Adviser and is authorised and controlled by the FCA. Beaumont Cornish’s tasks because the Firm’s Nominated Adviser, together with a accountability to advise and information the Firm on its tasks below the AIM Guidelines for Corporations and AIM Guidelines for Nominated Advisers, are owed solely to the London Inventory Trade. Beaumont Cornish shouldn’t be performing for and won’t be accountable to another individuals for offering protections afforded to prospects of Beaumont Cornish nor for advising them in relation to the proposed preparations described on this announcement or any matter referred to in it.
Notes
CleanTech Lithium (AIM:CTL) is an exploration and improvement firm advancing lithium initiatives in Chile for the clear power transition. Dedicated to net-zero, CleanTech Lithium’s mission is to change into a brand new provider of battery grade lithium utilizing Direct Lithium Extraction know-how powered by renewable power.
CleanTech Lithium has two key lithium initiatives in Chile, Laguna Verde and Viento Andino, and exploration stage initiatives in Llamara and Arenas Blancas (Salar de Atacama), situated within the lithium triangle, a number one centre for battery grade lithium manufacturing. The 2 most superior initiatives: Laguna Verde and Viento Andino are located inside basins managed by the Firm, which affords vital potential improvement and operational benefits. All 4 initiatives have good entry to current infrastructure.
CleanTech Lithium is dedicated to utilising Direct Lithium Extraction with reinjection of spent brine leading to no aquifer depletion. Direct Lithium Extraction is a transformative know-how which removes lithium from brine with larger recoveries, quick improvement lead instances and no in depth evaporation pond building. www.ctlithium.com
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