Rock Tech Lithium Inc - RCKTF STOCK NEWS

Rock Tech Lithium has granted 150,000 stock options to its CFO, Sonja Rossteuscher, effective December 15, 2022. The options have a 6-year term and an exercise price of CAD 2.5 per share. They will vest 25% after one year and the rest monthly over three years. This grant aligns with the company's stock option plan approved in June 2022. Rock Tech aims to produce lithium hydroxide for EV batteries and plans to ensure supply-chain transparency while adhering to strict ESG standards.

Rock Tech Lithium has released a positive Pre-Feasibility Study (PFS) for its Georgia Lake spodumene project in Ontario. The study estimates a pre-tax net present value (NPV) of USD 223 million and an internal rate of return (IRR) of 47.8%. The project includes planned production of 1,000,000 tonnes of spodumene concentrate annually with a lifespan of nine years. Total capital costs are projected at USD 290.7 million, and estimated pre-production costs are USD 192.2 million.

New mineral reserves and resources have also been declared, enhancing the project's economic viability.

Rock Tech Lithium announced the completion of a bankable project study for its lithium hydroxide converter in Guben, Germany. The study indicates a pre-tax NPV of USD 1.219 billion and an IRR of 24%. Initial capital costs are estimated at USD 683 million, with a projected annual lithium production capacity of 24,000 tonnes. The project is set to begin construction in Q1 2023, aiming for commissioning in Q2 2025. This facility is crucial for meeting rising lithium demand due to the EU's drive towards electric vehicles, significantly impacting regional supply chains.

Rock Tech Lithium Inc. has appointed Dirk Harbecke as the new Chief Executive Officer (CEO), succeeding Markus Bruegmann who resigned for personal reasons. Harbecke, a co-founder with over 25 years of investment experience, mentioned the company's promising future following a recent agreement with Mercedes-Benz. Rock Tech aims to produce lithium hydroxide for EV batteries, prioritizing supply-chain transparency and sustainability. The company intends to utilize its own mineral project in Canada and develop a closed-loop lithium production system.

Rock Tech Lithium Inc. announced the appointment of Mrs. Sonja Rossteuscher as the new Chief Financial Officer, effective November 01, 2022. She succeeds Mr. Stefan Krause, who will remain Vice Chairman of the Board. Rossteuscher brings over 20 years of financial executive experience, having previously served as CFO at Tristone Flowtech Group. Her expertise will support the company in project financing for its Guben Converter and Georgia Lake Mining Projects. Rock Tech aims to strengthen its position in the electric mobility sector through effective financing strategies.

Rock Tech Lithium and Transamine have entered into a definitive agreement to form a joint venture named RTT Lithium SA. This joint venture will focus on securing a supply of lithium-bearing spodumene for Rock Tech's planned European lithium converters. RTT aims to provide producers with a transparent offtake option and is designed to boost Rock Tech's sourcing strategy. Based in Geneva, Switzerland, RTT will operate on a 50/50 basis, overseeing the procurement and logistics of spodumene concentrate. The partnership aligns with Rock Tech's mission to enhance supply chain transparency and sustainability in lithium production.

Rock Tech Lithium Inc. has granted 300,000 stock options to certain directors, effective October 17, 2022. The options have a five-year term with 30% vesting immediately and 70% vesting monthly over 24 months. The exercise price is set at $2.77 per share, aligning with the closing price on October 14, 2022. This move aligns with the company's stock option plan approved on June 30, 2022. Rock Tech aims to produce lithium hydroxide for EV batteries, focusing on supply-chain transparency and sustainability.

Rock Tech Lithium has signed a definitive Supply Agreement with Mercedes-Benz to supply an average of 10,000 tonnes of battery-grade lithium hydroxide annually over five years. This agreement, valued at approximately C$2 billion, represents over 40% of Rock Tech's planned converter capacity in Guben, Germany. The contract also aims for CO2-neutral production of lithium by 2030. This partnership is crucial for advancing Mercedes-Benz's electric mobility goals and securing lithium supply for around 150,000 electric vehicles.

Rock Tech Lithium Inc. (OTCQX: RCKTF) has announced that the European Investment Bank (EIB) is reviewing a potential €150 million senior debt investment for its Guben lithium converter project in Germany. This project aims to produce lithium hydroxide, crucial for electric vehicle batteries, thereby supporting the EU's green transition. The Guben facility, the first of its kind in Europe, could supply materials for up to 500,000 EV batteries annually. Chairman Dirk Harbecke highlighted this as a positive market signal, showcasing progress in project development.