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Rock Tech Lithium Inc. (OTCQX: RCKTF) is a cleantech company operating in Canada and Germany with a focus on producing lithium hydroxide for electric vehicle batteries. The company plans to construct lithium converters near its customers to ensure transparent supply chains and timely delivery. Starting with the proposed lithium hydroxide converter and refinery facility in Guben, Germany, Rock Tech aims to establish the second converter in Red Rock, Ontario, Canada. By sourcing raw materials from its Georgia Lake spodumene project and other environmentally responsible mines, Rock Tech aims to address the critical gap in sustainable mobility by creating a closed-loop lithium production system.
Rock Tech Lithium is pleased to announce the final results from its 2021-2022 Drill Program at the Georgia Lake lithium project in Ontario. This initiative aimed to enhance the confidence in mineral resource estimates for pre-feasibility studies, expected to be published in Q4 2022. The program successfully drilled 23,200 metres across multiple deposits, revealing significant lithium intersections. Notable assay results include 9.1m at 0.96% Li2O from the MZSW deposit and 2.48m at 0.56% Li2O from the Conway deposit, showcasing potential resource expansions.
Rock Tech Lithium welcomes two new directors, Jutta Dönges and Michelle Gahagan, enhancing its Board of Directors. Shareholders overwhelmingly approved their election at the June 30, 2022, AGM, with 99.98% support. Dönges, an expert in financial management, oversees significant funds in Germany, while Gahagan brings extensive experience in mining and law. Their expertise is anticipated to bolster Rock Tech's strategic growth in lithium project development, vital for the electric vehicle supply chain.
Rock Tech Lithium and Mercedes-Benz AG have announced a strategic partnership to produce high-quality lithium hydroxide for electric vehicle batteries. This agreement, set to begin in 2026, allows Rock Tech to supply up to 10,000 tonnes of lithium hydroxide annually. The partnership aims to meet increasing lithium demands amid Mercedes-Benz's commitment to electric vehicles by 2030. Rock Tech is developing a converter project in Germany and plans to operate a mine in Georgia Lake, Canada. Both companies prioritize sustainable and resilient supply chains.
On July 13, 2022, Rock Tech Lithium announced a significant framework agreement with a major German car manufacturer for the supply of lithium hydroxide, crucial for EV batteries. The agreement spans five years, with options for renewal. Both parties commit to environmental sustainability, aiming for CO2-neutral lithium hydroxide production by 2030. Rock Tech plans to commence production in Guben, Germany, in 2024, leveraging its advanced refining processes. This partnership positions Rock Tech as a key player in the growing electric vehicle market.
Rock Tech Lithium has announced a non-binding Memorandum of Understanding (MOU) with thyssenkrupp Materials Trading to form a strategic partnership for the supply of lithium spodumene concentrate. The partnership aims to enhance the supply chain for lithium refining into high-purity lithium hydroxide, essential for electric vehicle batteries. Rock Tech plans to begin refining at its facility in Guben, Germany, by the end of 2024, targeting the production of battery-grade lithium hydroxide. The collaboration is expected to meet the growing demands of the automotive industry and support electromobility.
Rock Tech Lithium Inc. announced promising assay results from its ongoing drill program at the Georgia Lake lithium project in Ontario. The program, initiated in 2021, aims to enhance resource classification and extend mineralization. Key highlights include 11,604 meters drilled at the Main Zone North and significant lithium grades reported, such as 1.37% Li2O over 13.2m at Conway. The findings will bolster the pre-feasibility study. Rock Tech plans to supply lithium hydroxide to the automotive sector, targeting production by 2024.
Rock Tech Lithium Inc. (TSXV: RCK, OTCQX: RCKTF) has signed a non-binding term sheet with Swiss commodity trader Transamine SA to collaborate on sourcing lithium spodumene concentrate for its European lithium hydroxide converters. This partnership aims to enhance Rock Tech's diversified sourcing strategy for lithium products, critical for the European electric vehicle market. The term sheet is valid until August 31, 2022, with potential for extension. Rock Tech plans to commission Europe's first lithium converter by 2024, supporting the upsurge in electric vehicle production.
On May 11, 2022, Rock Tech Lithium announced its membership in the European Battery Alliance (EBA), which aims to position Europe as a leader in sustainable battery production. The EBA includes around 700 entities, focusing on creating environmentally friendly vehicle solutions and a competitive value chain for battery manufacturing, projected to reach €250 billion by 2025. Rock Tech plans to launch Europe's first lithium converter by 2024, with a capacity of 24,000 tonnes per year for lithium hydroxide, sufficient for approximately 500,000 electric vehicles.
Rock Tech Lithium has granted 100,000 incentive stock options to an officer at an exercise price of $4.92 per share, expiring in six years. The options will vest over four years, with 25% vesting on the first anniversary. The company aims to supply high-quality lithium hydroxide for electric vehicles and plans to commission a lithium converter in Germany by 2024, targeting production of 24,000 tonnes per year. This production will support around 500,000 electric vehicles. Rock Tech is focused on creating a closed-loop for lithium recycling by 2030.
Rock Tech Lithium announced the appointment of Cristina Rocco as Chief Operating Officer, effective May 1, 2022. With extensive experience in the energy sector, she will oversee operations in Europe and Canada, including the construction of the first lithium hydroxide converter in Germany. The company aims to produce high-purity lithium hydroxide for electric vehicle batteries starting in 2024, supporting their goal of creating a closed-loop for lithium and addressing raw material gaps for clean mobility.
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