Goat Industries (GOAT-Cse) Transaction Update for Acquisition of Direct Lithium Extraction Technology
Sept 29, '22 - NR
Goat Industries announces that, further to its press release dated September 14, 2022, the Company is working through diligence of 1000288601 Ontario Inc. ("Ontario Co") and its Canadian license for a leading Direct Lithium Extraction technology (the "DLE Technology") and expects to enter into definitive agreements in the coming weeks.
The DLE Technology has been developed by private industry as well as university researchers based out of Australia and it is GOAT's understanding it is more cost-effective extraction technology than fractional crystallization, membrane filtering, MOF's, adsorption, reverse osmosis, and ion exchange. Upon closing, it is GOAT's intention to pursue commercial partnerships with explorers and producers in brine rich Canadian jurisdictions.
The DLE Technology has the potential to reduce capital and operating costs, while accelerating lithium-based battery metal project startups via:
No evaporation requirements;
Increased lithium recovery;
Increased production flexibility;
Reducing residence time;
No ground water disturbance; and
Increasing the percentage of solvents that are recovered and reused.
Lithium demand is projected to rise from approximately 500,000 metric tons of lithium carbonate equivalent in 2021 to some three million to four million metric tons in 2030.i At the same time, surging electric vehicle demand has seen lithium prices skyrocket by around 550 percent in a year: by the beginning of March 2022, the lithium carbonate price surpassed $75,000 per metric ton and lithium hydroxide prices surpassed $65,000 per metric ton (compared with a five-year average of around $14,500 per metric ton).ii
Generally, direct lithium extraction ("DLE") can be a driving force behind the lithium industry's ability to respond to the expected demand increase more swiftly.iii DLE offers an opportunity not only to increase industry supply of lithium, but to reduce the industry's ESG footprint and provide a lower cost method of extraction.iv
ABOUT GOAT INDUSTRIES
GOAT Industries is an investment issuer focused on investing in high-potential companies operating across a variety of sectors. The paramount goal of the Company will be to generate maximum returns from its investments.
The Company's final prospectus, financial statements and management's discussion and analysis, among other documents, are all available on its profile page on SEDAR at www.sedar.com.
CONTACT INFORMATION
GOAT Industries Ltd.
Investor Relations
Email: alex@goatindustries.co
Phone: 604-687-2038 |
