Not good and more dilution seems to be in the cards.
Canada Lithium produces first lithium carbonate samples
2013-06-20 16:47 ET - News Release
Mr. Peter Secker reports
CANADA LITHIUM PROJECT UPDATE
The first lithium carbonate samples have been produced from Canada Lithium Corp.'s mine and processing plant near Val d'Or, Que. The kiln, recently granted operational approval by the Canadian Standards Association (CSA), is functioning at design temperatures, and commissioning of downstream components of the hydrometallurgical plant is continuing.
Production schedules and global lithium markets
Due to previously announced delays to the commissioning of the kiln, initial carbonate shipments to Tewoo Group in China have been rescheduled to July, and ramp-up to annual design capacity of 20,000 tonnes of lithium carbonate is now rescheduled to be completed in the first quarter of 2014 (rather than late in the fourth quarter of this year), which may impact the company's working capital levels. The global market for lithium carbonate, meanwhile, is firm. Strong demand continues for consumer electronics devices, such as laptops, iPads and cellphones powered by lithium-ion batteries. In the electric vehicle/hybrid sector, recent press releases by a major hybrid car maker indicating a sixfold increase in lithium battery production for its hybrid range of vehicles and Tesla's indications that it could potentially double production of its Model S electric vehicle continue to support lithium carbonate demand.
Tailings management facility
Under the supervision of geotechnical consultant, Golder Associates, repairs to the tailings management facility have been completed, and operations approval has been received from the Ministere du Developpement durable, de l'Environnement de la Faune et des Parcs (MDDEFP).
We seek Safe Harbor. |
