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Standard Lithium has been added to the VanEck Vectors Rare Earth/Strategic Metals ETF (REMX) as of June 30, 2021. The company will begin trading under the ticker symbol “SLI” on the NYSE American and TSX Venture Exchange starting July 13, 2021, marking a significant step in its growth strategy. CEO Robert Mintak highlighted this inclusion as a demonstration of the company's evolution and commitment to delivering shareholder value. Standard Lithium focuses on lithium extraction technologies and operates in Arkansas, with plans for resource development in California.
Standard Lithium Ltd. has received approval to list its common shares on the NYSE American, with trading expected to commence on July 13, 2021, under the ticker symbol SLI. This strategic move aims to enhance the company's visibility in US capital markets, attracting a broader range of institutional and retail investors. The existing OTCQX trading will cease with the new listing, and shareholders are not required to take any action. The company focuses on lithium extraction, utilizing proprietary technology, and aims to become a leading lithium producer in the US.
Standard Lithium announced the early conversion of a $3.75 million loan from LANXESS Corporation, eliminating long-term debt and enhancing its balance sheet. In exchange, Standard Lithium issued 6,251,250 common shares and 3,125,625 share purchase warrants, with each warrant allowing acquisition of more shares at C$1.20 until June 2024. This conversion is strategic for ongoing project development, reducing interest expenses, and solidifying LANXESS as a key shareholder.
Standard Lithium Ltd. announced the early conversion of its loan facility with LANXESS Corporation, eliminating long-term debt and enhancing its balance sheet. The company issued 6,251,250 shares and 3,125,625 warrants to LANXESS, retiring a US$3,750,000 loan. This conversion reduces interest expenses and strengthens shareholder ties. Standard Lithium's flagship project in Arkansas focuses on lithium extraction innovation, utilizing its proprietary LiSTR technology for efficient resource recovery.
On May 17, 2021, Standard Lithium Ltd. (OTCQX: STLHF) announced the initiation of a Preliminary Economic Assessment (PEA) for its TETRA Property in Arkansas. The PEA will encompass the design of infrastructure such as brine supply wells and a Direct Lithium Extraction plant using proprietary LiSTR technology. NORAM Engineering has been engaged as the lead consultant for this project, with expected completion in early Q3 2021. The TETRA Property boasts significant lithium resources, including 802,000 tonnes of Lithium Carbonate Equivalent (LCE) and an extensive existing infrastructure.
Standard Lithium Ltd. has initiated a Preliminary Economic Assessment (PEA) on its TETRA Property in Arkansas, focusing on an integrated project featuring brine supply, extraction technology, and conversion facilities. NORAM Engineering will lead the assessment, which includes key infrastructure and expected lithium resources. The TETRA Project boasts 27,262 acres of brine leases with high lithium grades, and the company plans to complete the PEA by early Q3 2021. This effort aligns with Standard Lithium's commitment to sustainable lithium production in North America.
Standard Lithium Ltd. has appointed Francis R. Fannon as a Strategic Advisor, effective immediately. Fannon, a former Assistant Secretary of State for Energy Resources, will leverage his expertise to enhance capital markets profile and expedite development activities. His extensive background includes leadership roles in both public and private sectors, including BHP and Murphy Oil. Standard Lithium aims to transform lithium extraction technology, significantly increasing domestic lithium supply while minimizing environmental impact. The company operates a demonstration plant in Arkansas, utilizing innovative technology for efficient extraction.
Standard Lithium Ltd. announced that Francis R. Fannon has joined as Strategic Advisor, leveraging his extensive public and private sector experience to enhance the company's capital markets profile. Previously confirmed by the Senate as Assistant Secretary of State for Energy Resources, Fannon has a strong background in critical materials. CEO Robert Mintak emphasized Fannon's knowledge in the new energy economy and the importance of secure domestic lithium supplies. Standard Lithium's flagship project in Arkansas focuses on innovative lithium extraction technology aimed at a sustainable clean energy supply chain.
Standard Lithium Ltd. (OTCQX: STLHF) will participate in a live virtual fireside chat at the ROTH Growth Conference on March 15 at 5:30 PM ET. CEO Robert Mintak and COO Dr. Andy Robinson will discuss the global lithium market, production factors, and the push for EV investments. They will provide updates on the company's efforts in ramping up the first new commercial lithium project in the U.S. in over 50 years. The conference will host various public and private companies and will facilitate meetings for institutional investors.
Standard Lithium Ltd. has successfully converted Arkansas-produced lithium chloride into 99.985% pure lithium carbonate using OEM technology from Veolia Water Technologies. This achievement highlights two effective flowsheets for producing battery-quality lithium carbonate, enhancing the project's commercial viability. Additionally, the company is working to convert lithium chloride into battery-quality lithium hydroxide. Dr. Andy Robinson, President and COO, expressed excitement about upcoming milestones and project development as the company progresses towards commercialization.
