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Century Lithium Corp (CYDVF) is an advanced lithium company, focusing on the development of its 100%-owned Clayton Valley Lithium Project in Nevada, USA. The company is in the pilot stage of testing on lithium-bearing claystone material at its Lithium Extraction Facility, with the goal of becoming a domestic producer for the electric vehicle and battery storage market. Century Lithium has recently completed a Feasibility Study that highlights robust economics, unique chlor-alkali, and direct lithium extraction processes, indicating a 17.2% after-tax Internal Rate of Return (IRR) and a $3.16 billion Net Present Value (NPV) at an 8% discount rate.
Cypress Development Corp. (OTCQB: CYDVF) reported a significant cash inflow of $6,949,791 from the exercise of 4,741,189 warrants between October 1 and November 29, 2021. This addition boosts their cash reserves, which were $19.8 million as of September 30, 2021. The warrants, initially issued during a financing deal in March 2021, had an exercise price of $1.75. The company currently holds 12,262,253 outstanding warrants, maintaining a strong financial position for future developments.
Cypress Development Corp. (TSXV: CYP | OTCQB: CYDVF) announces the resignations of Mr. Donald Huston and Ms. Amanda Chow from its Board of Directors, effective immediately. Huston has been a pivotal figure since the company's inception in 1997, significantly contributing to its growth. The company expresses its gratitude for their service. Cypress is focused on developing its Clayton Valley Lithium Project in Nevada, recognized for its world-class lithium resource, further confirmed by a positive Pre-Feasibility Study in August 2020.
Cypress Development Corp. is advancing its Clayton Valley Lithium Project in Nevada, announcing the start of extraction testing of lithium-bearing claystone at its pilot plant in Amargosa Valley. The test employs chloride-based leaching with the Chemionex-Lionex process for Direct Lithium Extraction (DLE). CEO Bill Willoughby confirmed the pilot plant is functioning as intended and is set to optimize lithium extraction based on prior recommendations. This initiative is a significant step towards increasing lithium production capabilities.
Cypress Development Corp. (TSXV: CYP | OTCQB: CYDVF) announces an extension from the Nevada Division of Water Resources for Nevada Sunrise Gold Corp's Water Right Permit 44411 until August 28, 2022. This extension is crucial for Cypress's pending purchase of the Permit, vital for the Clayton Valley Lithium Project in Esmeralda County, Nevada. The transaction entails a total cost of US$3 million, with an initial US$150,000 already paid. The remaining US$2.85 million will involve cash and share payments, pending regulatory approvals.
Cypress Development Corp. (TSXV: CYP | OTCQB: CYDVF) announced that all resolutions were passed at its Annual General & Special Meeting on October 28, 2021. A total of 15,827,720 shares (12.57% of outstanding) were voted. Shareholders approved the number of directors at 8 and re-elected the board members, including Ken Owen, who brings over 40 years of mining experience. The meeting also saw the approval of the Long Term Incentive Plan and the re-appointment of Davidson & Company as auditors. Cypress focuses on its Clayton Valley Lithium Project in Nevada.
Cypress Development Corp. has announced the completion of its pilot plant for the Clayton Valley Lithium Project in Nevada. This milestone follows months of work and will focus on direct lithium extraction using a chloride-based leaching process. Testing is set to begin next week, aiming to demonstrate the production of lithium hydroxide and optimize various operational parameters. The pilot plant's configuration stems from a 2021 scoping study highlighting the advantages of chloride leaching, aligning with the Company's Pre-Feasibility Study objectives.
Cypress Development Corp. announced the acquisition of 24 unpatented mining claims in Clayton Valley, Nevada, adding 480 acres to its land holdings. This acquisition increases Cypress's total land to 6,558 acres and enhances exploration potential for lithium-bearing claystone and brine. The claims were purchased for 49,000 Cypress shares, with no retained royalties. The transaction is subject to TSX Venture Exchange approval. Cypress focuses on developing its Clayton Valley Lithium Project, which is adjacent to North America's only lithium brine operation.
Cypress Development Corp. has announced that its pilot plant for the Clayton Valley Lithium Project is nearing commissioning, with most components operational. The team is focusing on on-site assaying capabilities and completing necessary installations. Testing will begin after inspections. President Bill Willoughby emphasized the team's diligence in overcoming scheduling and supply challenges. The pilot plant will be operated by Continental Metallurgical Services, in cooperation with Chemionex Inc. for lithium extraction processes.
Cypress Development Corp. (TSXV: CYP, OTCQB: CYDVF) has entered into a Water Rights Purchase and Sale Agreement with Intor Resources Corporation for a Water Rights Permit in Clayton Valley, Nevada. This Permit allows 1,770 acre-feet of water per year for mining, milling, and domestic use, vital for their lithium project. The purchase price totals US$3 million, with an initial cash payment of US$150,000 already made. The final US$2.85 million payment will follow necessary approvals. The agreement is subject to TSX Venture Exchange approval.
Cypress Development Corp. (OTCQB: CYDVF) reported progress on its pilot plant assembly, with major components onsite and commissioning planned for August 2021. Key electrical subcomponents are delayed due to Covid-19-related supply issues. The company is also advancing its Letter of Intent with Intor Resources Corp for purchasing water rights in Clayton Valley, Nevada, having made necessary payments under the agreement. Additionally, Spiros Cacos will join as Vice President, Investor Relations, effective August 1, 2021, bringing over 20 years of experience in the mineral sector.
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