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Lithium Ionic (OTCQX:LTHCF) reported development progress at its 100%-owned Bandeira lithium project in Minas Gerais, Brazil. The company placed its first long-lead order for a 138/13.8 kV substation transformer from Blutrafos, with overall project engineering now about 65% complete.
Geotechnical drilling of 1,352m is finished to support detailed design, and the capital cost estimate is being updated. Lithium Ionic has logged over 4,500 hours of community engagement since late 2025, involving more than 700 attendees through meetings, workshops, and a three-hour April 26, 2026 project presentation.
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Lithium Ionic (OTCQX:LTHCF) filed its audited financial statements for the year ended December 31, 2025, plus MD&A and CEO/CFO certifications, on SEDAR+ and its website. It also filed interim Q1 2026 financials and related documents.
According to Lithium Ionic, these filings restore compliance with continuous disclosure obligations, and the Management Cease Trade Order issued on May 4, 2026 is expected to be revoked on June 9, 2026. The company states the delay reflected additional diligence, not issues with its financial reporting or operations.
Lithium Ionic has filed an independent NI 43-101 compliant technical report for its Bandeira Lithium Project in Minas Gerais, Brazil. The report supports the feasibility study results released on May 29, 2024, outlining a 14-year mine life, producing 178,000 tonnes per annum (tpa) of spodumene concentrate with 5.5% lithium oxide (Li2O).
Key figures include an after-tax net present value (NPV) of US$1.3 billion with an internal rate of return (IRR) of 40%, operating costs of US$444/t SC5.5, and a capital expenditure (CAPEX) of US$266 million. The technical report prepared by Atkins Réalis, GE21 Consultoria Mineral, Planminas, and L&M is accessible on SEDAR+ and the company’s website.
Additionally, Lithium Ionic granted 1,110,000 stock options to its directors, officers, and consultants, exercisable at $0.90 per option for five years, pending TSX Venture Exchange approval.
Lithium Ionic has initiated a 4,000-meter drilling program at four properties near its Bandeira Lithium Project in the Lithium Valley, Minas Gerais, Brazil. This effort will test lithium soil anomalies identified through previous exploration.
Additionally, the company has expanded its Salinas drilling program to 30,000 meters to upgrade its initial mineral resource estimate. The Salinas project, located in the Araçuaí Pegmatite District, had an initial estimate of 5.86Mt at 1.09% Li2O in Measured and Indicated categories, and 8.90Mt at 0.97% Li2O in the Inferred category, based on 27,030 meters drilled. A Preliminary Economic Assessment for Salinas is underway.
CEO Blake Hylands emphasized the rapid development and promising potential of these projects, reflecting the company’s capability to efficiently execute its exploration strategy.
Lithium Ionic has announced an option agreement allowing its subsidiary, Neolit Minerals, to acquire up to a 90% interest in select properties in Brazil's Lithium Valley, Minas Gerais. The properties total 2,983.22 hectares and are within the lithium-rich Araçuaí Pegmatite District. Neolit must invest approximately C$5.5 million by Q1 2030 and deliver a feasibility study to achieve the 90% stake. This acquisition is part of Lithium Ionic's strategy to expand its footprint in promising lithium districts. The company plans extensive exploration to delineate resources and engage local communities for sustainable development.
Lithium Ionic has finalized the acquisition of the remaining 15% interest in its Salinas properties in Minas Gerais, Brazil, thereby gaining full ownership.
The transaction involved a cash payment equivalent to USD 2 million and the issuance of 2.5 million shares of Lithium Ionic. An additional payment of USD 1 million is due by April 4, 2025.
A Preliminary Economic Assessment is underway by GE21 Consultoria Mineral Ltda and is expected in the second half of 2024. This arm's-length transaction involved no finder’s fees.
Lithium Ionic Corp. has signed an agreement to acquire the remaining 15% of the Salinas properties in Minas Gerais, Brazil, securing 100% ownership. The transaction involves a cash payment of US$2 million by June 7, 2024, an additional US$1 million by April 4, 2025, and the issuance of 2.5 million shares by June 18, 2024. These properties, located within the lithium-rich Araçuaí Pegmatite District, contribute 14.76Mt to the company’s total Global Mineral Resource Estimate of 60.1Mt. A Preliminary Economic Assessment is expected in the second half of 2024.
Lithium Ionic has signed a binding term sheet with Appian Capital Advisory to sell a 2.25% gross revenue royalty on its Bandeira Deposit for $20 million.
The funds will be used to advance and construct the Bandeira Lithium Project, located in Brazil's Lithium Valley. The project is estimated to support a 14-year mining operation, producing 178,000 tons of high-quality spodumene concentrate annually. A May 29, 2024 feasibility study reported a post-tax NPV8 of $1.3 billion and an IRR of 40% for the project.
The royalty agreement includes an option for Lithium Ionic to buy back the royalty within five years for $67.5 million, subject to customary closing conditions.
Lithium Ionic has released the Feasibility Study results for their Bandeira Lithium Project in Minas Gerais, Brazil. The project is set to produce 178,000 tonnes per annum (tpa) of spodumene concentrate with a 14-year mine life. The study reveals strong project economics, with an after-tax NPV8 of $1.3 billion and an IRR of 40%. Operating costs are forecasted at $444 per tonne. Capital expenditure is estimated at $266 million, with a payback period of 3.4 years.
The project will feature underground mining and responsible tailings management, minimizing environmental impact. Estimated local economic contributions include $915 million in taxes and a peak workforce of 870. Construction permits are on track, with approvals expected by Q3 2024. The study confirms the company's path to becoming a near-term lithium producer, with opportunities for further optimization and regional growth.