5.2 C
Wednesday, December 6, 2023

CleanTech Lithium PLC Final Results

CleanTech Lithium PLC (AIM:CTL, Frankfurt:T2N, OTC:CTLHF), an exploration and development company advancing next-generation sustainable lithium projects in Chile for the EV transition, is pleased to announce its audited Final Results for the twelve months to 31 December 2022.

A full version of the annual report is available on the Company’s website, accessible via the link and with extracts set out below: https://ctlithium.com/investors/latest-presentation-report/

Steve Kesler, Executive Chairman of CleanTech Lithium, said:

The Company has advanced considerably in the past year, and I am looking forward, now in an executive capacity, to be working with the CEO, Aldo Boitano, and his management team to accelerate the path to commercial lithium production.”

Operational and Corporate Highlights in 2022


  • Exploration & Evaluation Costs: £4.5 million incurred on activities (main capex)
  • Additional JORC resource: Developing our wholly owned Laguna Verde and Francisco Basin projects in lithium triangle of Chile, with lithium resources of over 2 million LCE achieved through two successful drilling programmes in 1H 2022 – including maiden resource at Francisco Basin
  • Scoping Study: Demonstrated robust economics at Laguna Verde for a multi-decade commercial (20,000tpa) lithium operation with low operating cost of US$3,875 per tonne of lithium carbonate.
    • Results included an NPV8 of US$1.83bn, IRR of 45.1% and a payback period of 1 year and 8 months, based on a long-term lithium carbonate price of US$22,500 per tonne from 2027
  • DLE: Laboratory scale test work produced 1kg sample of battery-grade lithium (LCE) in June 2022
  • M&A Activity: Applied for 119 new exploration licences for green fields Llamara project taking total project holding to over 500km2 in Chile.
  • Health & Safety: Zero-harm safety culture focused on continuous improvement to achieve an injury free and healthy work environment – no LTIs, major incidents or near misses recorded in 2022 or 2023 to date
  • Community Relations: Established a team to implement continuing on-going engagement programme
  • Management & Staff: Increased the team in Chile from 3 people to over 20 specialists, including 13 from Chile at year-end since March 2022


  • Funding: Raised £17.9 million in the calendar year 2022
    • IPO on London Stock Exchange’s AIM market after successfully raising £5.6m with existing and new shareholders in March 2022
    • Raised an additional £12.3 million in October 2022 to fund work programme for 2023 with new institutional and retail investors on the registrar.
  • Further Trading: Commenced trading on the Frankfurt Stock Exchange, Open Market, LT Baader Bank and the Munich Stock Exchange in Q4 2022
  • Cash Position: £12.4 million at year-end 2022

2023 Highlights – to date and planned


  • Further Resource Drilling: Underway at Laguna Verde and Francisco Basin to upgrade resource base – due to be completed c.Q2 2023
  • M&A Activity: Exploration licences for Llamara project granted in Q1 2023, first exploration drilling campaign commenced in Q2 2023
  • Pre-Feasibility Study: Commenced at Laguna Verde in March 2023, targeted for completion in late 2023
  • DLE Pilot Plant: Lab scale plant commenced operation in Q1 2023, commissioning of pilot plant to produce 1 tonne per month of LCE expected mid Q3 2023
  • Local Community Office: to open in Copiapó Q2 2023


  • Further Trading: Commenced trading on the OTCQB Venture Market February 2023
  • ASX Listing: Dual-listing planned for early Q3 2023
  • ESG Committee: Reporting to the Board, to ensure the Company is being held accountable across all ESG factors

For further information contact:

CleanTech Lithium PLC

Aldo Boitano/Gordon Stein

Jersey office: +44 (0) 1534 668 321

Chile office: +562-32239222

Or via Celicourt

Celicourt Communications

+44 (0) 20 8434 2754

Felicity Winkles/Philip Dennis/Ali AlQahtani


Dr. Reuter Investor Relations

Dr. Eva Reuter

Harbor Access – North America

Jonathan Paterson/Lisa Micali

Porter Novelli – Chile

Florencia Cummins

Beaumont Cornish Limited

(Nominated Adviser)

Roland Cornish/Asia Szusciak

+49 69 1532 5857

+1 475 477 9401

+569 95348744


+44 (0) 207 628 3396

Fox-Davies Capital Limited

(Joint Broker)

Daniel Fox-Davies

Canaccord Genuity Limited

(Joint Broker)

James Asensio

Gordon Hamilton

+44 (0) 20 3884 8450


+44 (0) 207 523 4680

The information communicated within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No 596/2014 which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. Upon publication of this announcement, this inside information is now considered to be in the public domain. The person who arranged for the release of this announcement on behalf of the Company was Gordon Stein, Director and CFO.


Source link

Related Articles

Latest Articles