Preliminary Economic Assessment Filed on SEDAR
Lithium South Development has filed a Preliminary Economic Assessment report on SEDAR for its Hombre Muerto North Lithium Project in Argentina. The report supports plans for a 15,600 tonnes per year lithium carbonate plant with strong financial projections, including a Net Present Value of US$938 million and an Internal Rate of Return of 31.6%.
Strong financial projections with a Net Present Value of US$938 million and an Internal Rate of Return of 31.6%.
The report supports the development plans for a 15,600 tonnes per year lithium carbonate plant.
The extraction and recovery process for the project is based on an industrial proven method of lithium production.
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The PEA Report provides support for Lithium South to proceed with development plans for a 15,600 tonnes per year lithium carbonate plant, located at its wholly owned, Hombre Muerto North Lithium Project ("HMN Li Project") in
The financial model shows a Net Present Value after tax of
Summary of Economic Results
Company Founder President and CEO, Adrian F. C. Hobkirk is quoted, "We are very pleased to have achieved this important milestone for the HMN Li Project. The robust economics and room for expansion indicate a promising future for Lithium South."
About Lithium South
Lithium South owns
Qualified Person Statements
Peter Ehren is an independent Lithium Consultant. He has more than two decades of experience in the industry. He started his interest in the lithium business during his master's thesis at Technical University of the Delft where he investigated for BHP Minerals the recovery of lithium from geothermal brine (Salton Sea), applying a Direct Lithium Extraction ("DLE") technology. After his thesis he worked for SQM as a process engineer and R&D manager till 2007. Since 2007 he started to work as independent consultant in the lithium, boron and potassium industry. He is a world expert in solar evaporation systems, phase chemistry and process developments. Additionally, his experience covers product applications, OPEX and CAPEX estimation, process simulations, engineering, R&D and product development. He has worked in lithium basins and production facilities worldwide. He is a Chartered Professional (AusIMM) and QP for NI 43-101 and JORC.
Dr. Mark King, Ph.D., F.G.C., P.Geo., of Groundwater Insight, Inc., is the QP for resource estimation components of the PEA., as such term is defined by NI 43-101. Dr. King has extensive experience in salar environments and has been a QP on numerous lithium brine projects, ranging from early exploration to production. Dr. King is independent from the Company and has reviewed and approved the technical information mentioned in this press release.
Richard Goodwin, P.Eng., Project Manager for JDS Energy and Mining, Inc., is independent of Lithium South and a QP as defined under Canadian National Instrument 43-101. Mr. Goodwin is a mining engineer and study manager with over 30 years of experience managing mining operation and projects in various commodities such as base metals, precious metals, PGMs, and diamonds in various domestic and international locations. Mr. Goodwin is responsible for the PEA results, participated directly in the production of this press release, and directly related information in this press release, and approves of the technical and scientific disclosure contained herein.
On behalf of the Board of Directors
Adrian F. C. Hobkirk
President and Chief Executive Officer
Investors / Shareholders call 855-415-8100 / website:lithiumsouth.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. The TSX Venture Exchange has not reviewed the content of this news release and therefore does not accept responsibility or liability for the adequacy or accuracy of the contents of this news release.
Note 1: A report titled, Updated Mineral Resource Estimate – Hombre Muerto North Project, NI 43-101 Technical Report Catamarca and
This news release contains certain "forward-looking statements" within the meaning of Section 21E of the United States Securities and Exchange Act of 1934, as amended. Except for statements of historical fact relating to the Company, certain information contained herein constitute forward-looking statements. Forward-looking statements are based upon opinions and estimates of management at the date the statements are made and are subject to a variety of risks and uncertainties and other factors which could cause actual results to differ materially from those projected in the forward-looking statements. The reader is cautioned not to place undue reliance on forward- looking statements. We seek safe harbor.
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SOURCE Lithium South Development Corporation
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