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American Lithium Corp (AMLI) drives innovation in lithium exploration and sustainable energy resource development. This dedicated news hub provides timely updates on corporate milestones, operational advancements, and strategic initiatives critical to investors and industry observers.
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American Lithium Corp. (AMLI) has announced its intention to voluntarily delist from the Nasdaq Capital Market, with the last trading day scheduled for December 27, 2024. The company will maintain its listings on the TSX Venture Exchange and Frankfurt Stock Exchange, while applying for quotation on the OTCQX Markets.
The decision follows a March 8, 2024 notification from Nasdaq regarding non-compliance with the minimum bid price requirement of US$1.00 per share. The Board of Directors determined that the costs and burdens of maintaining a Nasdaq listing outweigh the benefits, citing high compliance costs, management burden, and benefits due to market conditions and low share price.
The company plans to file Form 25 with the SEC around December 20, 2024, which will terminate its U.S. reporting obligations while maintaining information flow to shareholders.
American Lithium Corp. (AMLI) has announced its intention to voluntarily delist its common shares from the Nasdaq Capital Market. The last trading day on Nasdaq will be December 27, 2024. The company will maintain its listings on the TSX Venture Exchange and Frankfurt Stock Exchange, and plans to transfer to the OTCQX Best® Market immediately after delisting.
The Board's decision was based on several factors, including high compliance costs, regulatory burden, benefits from SEC reporting status, and current market conditions. The company cited ongoing costs such as insurance premiums, audit fees, and regulatory fees as disproportionately impacting operations. The shares will continue trading on alternative exchanges, and the company will maintain shareholder communication while reducing regulatory obligations.
American Lithium Corp. (NASDAQ:AMLI) held its Annual and Special Meeting in Vancouver, announcing the election results for its Board of Directors. All seven nominees were successfully elected, with approval rates ranging from 56% to 98%. Alex Tsakumis received the highest approval at 98%, while other directors including Andrew Bowering, Laurence Stefan, G.A. Binninger, Claudia Tornquist, Carsten Korch, and Rona Sellers were also elected. Shareholders additionally approved Davidson & Company LLP as the company's auditor and re-approved the omnibus incentive plan.
American Lithium (AMLI) provided an operational update across its projects. The company is finalizing an updated Mineral Resource Estimate for the TLC Lithium Project, incorporating 42 new drill holes. For the Falchani Lithium Project in Peru, the company awaits regulatory approval of its Environmental Impact Assessment Study, with processing optimization work ongoing. At the Macusani Uranium Project, the company awaits exploration permit approval and is exploring potential spin-out opportunities into an independent uranium-focused public company. The company aims to leverage this to strengthen its balance sheet non-dilutively.
American Lithium Corp. (TSX-V:LI | Nasdaq:AMLI | Frankfurt:5LA1) has released financial and operating highlights for the second quarter ended August 31, 2024. Key points include:
1. Falchani Flow Sheet Optimization: Implemented additional hydrometallurgical processing steps, reducing sulfuric acid consumption by ~50% and improving by-product specifications.
2. Nasdaq Extension: Applied for a 180-day extension to regain compliance with the Minimum US$1 Bid Price Rule.
3. Board Appointment: Rona Sellers, an experienced legal and governance professional, joined the Board of Directors.
4. Financial Data: Reported a loss of $6,051,064 for the quarter, with cash and cash equivalents of $5,726,605 as of August 31, 2024.
The company continues to advance its lithium projects in Nevada and Peru, as well as its uranium project in Peru, amid challenging market conditions in the lithium sector.
American Lithium Corp. (TSX-V:LI | Nasdaq:AMLI | Frankfurt:5LA1) has issued a shareholder letter addressing recent challenges in the lithium market and outlining the company's strategy moving forward. The newly appointed Interim CEO, Alex Tsakumis, highlights:
1. The impact of declining lithium prices on industry valuations
2. Proactive measures taken by the company, including cost-cutting and management changes
3. Continued advancement of large-scale 'green metals' deposits towards pre-feasibility studies
4. Emerging marketplaces for premium pricing of lithium carbonate supplies
5. Potential value from the Macusani Uranium Project in Peru
6. Significant resource base growth at TLC and Falchani projects
The company remains focused on contributing to domestic critical metals supply chains in both the US and Peru, and plans to publish an operational update this month.
American Lithium Corp. (TSX-V:LI | Nasdaq:AMLI | Frankfurt:5LA1) has announced significant management changes and a request for a Nasdaq listing extension. Simon Clarke will resign as CEO and Director effective September 1, 2024, with Alex Tsakumis, a current board member, stepping in as Interim CEO. The company has also applied for an additional 180-day extension from Nasdaq to regain compliance with the Minimum Bid Price Rule of US$1.00 per share.
This extension, if granted, would allow American Lithium more time to meet Nasdaq's requirements without immediate impact on its listing or operations. The company continues to focus on developing its TLC lithium project in Nevada and advancing its Falchani lithium and Macusani uranium projects in Peru, all of which have undergone preliminary economic assessments and show strong expansion potential.
American Lithium Corp. (TSX-V:LI | Nasdaq:AMLI | Frankfurt:5LA1) has appointed Paul Charlish as Chief Financial Officer (CFO) effective August 1, 2024. Charlish, previously Vice President Finance and Corporate Secretary, brings over 35 years of financial experience to the role. He replaces Philip Gibbs, who is retiring but will continue as an advisor. Charlish has extensive knowledge in financial reporting, risk management, international tax, and internal controls, with experience in public equity offerings in Canada. CEO Simon Clarke expressed confidence in Charlish's ability to excel in his new position. American Lithium is focused on developing large-scale lithium projects in the Americas, including the TLC project in Nevada and the Falchani lithium and Macusani uranium projects in Peru.
American Lithium Corp. (TSX-V:LI | Nasdaq:AMLI | Frankfurt:5LA1) has released its financial and operating highlights for Q1 ended May 31, 2024. Despite challenging market conditions in the lithium sector, the company reports solid progress and prudent working capital management. Key developments include:
1. Appointment of former Deputy Minister of Mines as Strategic Corporate Advisor in Peru
2. Launch of 'Solar Electrification' program in Peru
3. Progress on Falchani flow sheet optimization, potentially reducing operating costs
4. Intent to commence Falchani pilot work in H2 2024
Financial highlights show a reduced loss of $7,006,169 compared to $11,122,415 in the same quarter last year. Cash and equivalents stand at $8,965,001 as of May 31, 2024.
American Lithium announced significant progress on optimizing its Falchani flow-sheet and plans to start pilot work in H2 2024. Recent tests at ANSTO in Sydney, Australia, and TECMMINE in Lima, Peru, have achieved a 50% reduction in sulfuric acid consumption, lowering operating costs. New techniques, like Solvent Extraction, show promise in further simplifying the process and reducing expenses. High-purity lithium carbonate with over 99.5% purity has been consistently produced, surpassing battery-grade thresholds. The company also optimized the recovery of potassium sulfate and cesium sulfate, adding economic value. These advancements support the robust economic projections of the Falchani Project.
