Latest news with #DLE
National Post
a day ago
- Business
- National Post
LibertyStream Acquires Commercial Lithium Carbonate Refining Unit for Texas; Announces $3.53 Million Promissory Note Financing with Leading Institutional Investment Firm and Insiders
Article content CALGARY, Alberta — LibertyStream Infrastructure Partners Inc. (TSXV: LIB | OTCQB: VLTLF | FSE: I2D) (' LibertyStream ' or the ' Company ') is pleased to announce the Company has finalized the purchase of a commercial lithium carbonate refining unit (the ' Refining Unit ') capable of producing up to 10 tonnes per annum (tpa) of industrial grade and battery grade lithium carbonate. In addition, LibertyStream announces an offering of 12% promissory notes (the ' Notes ') for aggregate gross proceeds of $3,530,000 (the ' Offering '). Article content Article content ' The purchase of the Refining Unit is a critical next step to commercial production,'commented Alex Wylie, President & CEO of LibertyStream. 'Customers have told us loud and clear that they need bulk samples of lithium carbonate from the field in order to negotiate future offtake agreements. The Refining Unit is expected to provide our future customers with the lithium carbonate from the field they require.' Article content Lithium Carbonate Refining Unit Article content In September 2024, LibertyStream deployed its first direct lithium extraction (' DLE ') field unit in the Permian Basin, subsequently scaling up to its Generation 5 unit by February 2025. This rapid scaling resulted in North America's largest operational DLE system, capable of processing over 10,000 barrels per day of produced water. Article content LibertyStream has focused the past six months conducting intensive operations in Texas, during which the company completed over 1,300 DLE runs. The Company has leveraged the knowledge gained over the six-month period to continuously improve its system including adding a pre-treatment step to knock out iron and organics prior to the DLE process. The 1,300 DLE runs and system improvements have led to consistency of results in the Texas operations. The performance to date has provided management the confidence to accelerate to the next crucial stage in the business strategy by acquiring the Refining Unit. Article content The Refining Unit will be capable of producing up to 10 tpa of lithium carbonate tailored to the technical specifications of future customers for either industrial grade or battery grade lithium carbonate. In order to have the ability to sign offtake agreements, future customers need bulk sample from the field in Texas. Management anticipates that the Refining Unit will consistently provide its customers with the confidence to rely on the grade and quality of lithium carbonate for future offtake agreements. Article content Promissory Note Financing Article content LibertyStream's Offering of the $3,530,000 aggregate principal amount of Notes is expected to be fully subscribed. The principal balance of each Note will be payable on the date that is one year from the date of issuance of the Notes (the ' Maturity Date '), provided that the Company shall have the right to redeem and repay the Notes at any time prior the Maturity Date, in whole or in part, without notice, bonus or penalty. The Notes will bear simple interest at a rate of 12% per annum, with interest payable on the Maturity Date. The Company intends to use the proceeds from the Notes to complete the purchase of the Refining Unit ($2,400,000) and for general working capital purposes ($1,130,000) or for such other purposes as the Company may determine to be appropriate in its sole discretion. Article content Pathfinder Asset Management Ltd. (' Pathfinder ') has agreed to purchase $3,400,000 aggregate principal amount of Notes under the Offering, which Notes will be senior and secured against all of the Company's present and after-acquired property. The remaining $130,000 aggregate principal amount of the Notes will be purchased by Alex Wylie, the Company's President and Chief Executive Officer. The Notes purchased by Mr. Wylie will be unsecured. Article content In connection with the Offering, the Company will issue an aggregate of 2,893,617 common shares in the capital of the Company (the ' Bonus Shares ') to the lenders. The Bonus Shares will represent a value equal to 20% of the principal amount of the Notes, calculated based on the Market Price (as defined by the TSX Venture Exchange (' TSXV ')) of $0.235 per Bonus Share. The Bonus Shares will be subject to a four month hold period commencing from the date of issuance thereof, in accordance with applicable Canadian securities laws and the policies of the Exchange. Article content Closing of the Offering is subject to customary closing conditions, including receipt of all necessary corporate and regulatory approvals, including TSXV conditional approval. Article content This news release does not constitute an offer to sell or a solicitation of an offer to sell any securities of the Company in the United States. The Notes and Bonus Shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the ' U.S. Securities Act ') or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or except where an exemption from such registration is available. Article content Alex Wylie, the Company's President and Chief Executive Officer, will acquire $130,000 aggregate principal amount of Notes and 110,638 Bonus Shares. Accordingly, the Offering constitutes a 'related party transaction' as defined under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (' MI 61-101 '). The Company is relying on the exemptions for the formal valuation and minority shareholder approval requirements of MI 61-101 contained in sections 5.5(b) and 5.7(1)(b) of MI 61-101, as the Notes are not listed, and will not be listed, on a specified market and the fair market value of the Notes and Bonus Shares being issued to the related party does not exceed $2,500,000, as determined in accordance with MI 61-101. The Company has not filed a material change report with respect to the participation of the insiders at least 21 days prior to the closing as the related party participation had not been determined at such time. Article content About LibertyStream Infrastructure Partners Article content LibertyStream is a lithium development and technology company aiming to be one of North America's first commercial producers of lithium carbonates from oilfield brine. Our strategy is to generate value for shareholders by leveraging management's hydrocarbon experience to deploy our proprietary DLE technology directly into existing oil and gas infrastructure, thereby reducing capital costs, lowering risks and supporting the world's clean energy transition. With four differentiating pillars, and a proprietary DLE technology and process, LibertyStream's innovative approach to development is focused on generating the highest lithium recoveries with lowest costs, positioning us for future commercialization. We are committed to operating efficiently and with transparency across all areas of the business staying sharply focused on creating long-term, sustainable shareholder value. Investors and/or other interested parties may sign up for updates about the Company's continued progress on its website: Article content This news release does not constitute an offer to sell or a solicitation of an offer to sell any securities of the Company in the United States. The Notes and Bonus Shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the ' U.S. Securities Act ') or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or except where an exemption from such registration is available. Article content Forward Looking Statements Article content This news release includes certain 'forward-looking statements' and 'forward-looking information' within the meaning of applicable Canadian securities laws. When used in this news release, the words 'anticipate', 'believe', 'estimate', 'expect', 'target', 'plan', 'forecast', 'may', 'will', 'would', 'could', 'schedule' and similar words or expressions, identify forward-looking statements or information. Statements, other than statements of historical fact, may constitute forward-looking information and include, without limitation, management's expectations relating to the processing capacity of its DLE unit, information with respect to the completion and timing of the purchase of the Refining Unit and expectations of production therefrom, the anticipated benefits to the Company's customers relating to the deployment of the Refining Unit, closing of the Offering; the use of proceeds of the Offering; TSXV approval of the Offering and issuance of the Bonus Shares; and Pathfinder's participation in the Offering. With respect to the forward-looking information contained in this press release, the Company has made numerous assumptions. While the Company considers these assumptions to be reasonable, these assumptions are inherently subject to significant uncertainties and contingencies and may prove to be incorrect. Additionally, there are known and unknown risk factors which could cause the Company's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein including the risk of delay in completing the purchase of the Refining Unit, delay or failure to obtain TSXV approval for the Offering or the issuance of the Bonus Shares, the risk that management's production estimates relating to the Refining Unit turn out to be incorrect, and generally, those known risk factors outlined in the Company's annual information form for the year ended June 30, 2024, the Management's Discussion and Analysis for the six months ended December 31, 2024, and the (final) short form base shelf prospectus dated July 20, 2023. All forward-looking information herein is qualified in its entirety by this cautionary statement, and the Company disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law. Article content Article content Article content Article content Article content Contacts
Business Wire
23-07-2025
- Business
- Business Wire
Rio Tinto and ENAMI sign binding agreement for Salares Altoandinos lithium project in Chile
LONDON--(BUSINESS WIRE)--Rio Tinto and Empresa Nacional de Minería (ENAMI), a state-owned Chilean mining company, signed a binding agreement to form a joint venture to develop the Salares Altoandinos lithium project in the Atacama region. The signing follows a 23 May announcement of Rio Tinto's nomination as the preferred partner for the project. As previously announced, Rio Tinto has agreed to acquire a controlling 51% interest in the project and provide up to $425 million cash and non-cash contributions including its Direct Lithium Extraction (DLE) Technology. The cash contributions will include staged spending to sole fund the pre-feasibility study and further studies, subject to the joint venture progressing through investment stage-gates. The transaction is expected to close in the first half of 2026, subject to receipt of all applicable regulatory approvals and the satisfaction of other customary closing conditions. Rio Tinto Minerals Chief Executive Sinead Kaufmann said: 'We are continuing to execute our strategy of building a world-class lithium portfolio to position Rio Tinto as a global leader in the responsible supply of critical minerals essential to the energy transition. The Salares Altoandinos project represents a significant opportunity to develop a large-scale, long-life, low-cost lithium brine resource. We are committed to the highest environmental standards and to ensuring any potential development is guided by transparent, respectful, and ongoing engagement with local communities in Chile's Atacama region.'
Business Wire
10-07-2025
- Business
- Business Wire
E3 Lithium Announces Arrival of Equipment for the Demonstration Facility at the Clearwater Project Site
CALGARY, Alberta--(BUSINESS WIRE)--E3 LITHIUM LTD. (TSXV: ETL) (FSE: OW3) (OTCQX: EEMMF), 'E3', 'E3 Lithium' or the 'Company,' a leader in Canadian lithium, is pleased to announce the on-schedule arrival of equipment for the Demonstration Facility at the Clearwater Project site, including the 30-column Direct Lithium Extraction ("DLE") system and associated polishing and purification units. This equipment will be used for both Phase 1 and Phase 2 of the planned testing at the Demonstration Facility. The equipment consists of five separate skids that will be tied together to operate fully automated. Over the next few weeks, all equipment will be assembled on-site and tested to ensure that no damage occurred during transport. The commissioning of the equipment will begin with leak testing and electrical inspections, and then raw brine will begin to be processed. Phase 1 of the demonstration program concludes with the completion of the commissioning using brine available on the surface and the production of lithium carbonate. 'The arrival of the equipment officially kicks off our Demonstration Program and is a key milestone towards commercial lithium production,' said Chris Doornbos, President and CEO of E3 Lithium. 'With only a few systems of this kind operating, we appreciate each of our vendors and engineering firms for their ongoing support. The E3 Lithium team is excited to get the equipment operating and we look forward to providing additional updates on the Demonstration Facility as we progress towards commissioning Phase 1.' Each phase of the Demonstration Facility is an important step towards validating the process technology and E3 Lithium's ability to produce battery-grade lithium carbonate at scale as we advance one of Canada's first lithium-from-brine developments. For more details on the DLE system equipment and the planned phases of the Demonstration Facility, please see the June 2, 2025, Press Release. ON BEHALF OF THE BOARD OF DIRECTORS Chris Doornbos, President & CEO E3 Lithium Ltd. About E3 Lithium E3 Lithium is a development company with a total of 21.2 million tonnes of lithium carbonate equivalent (LCE) Measured and Indicated 1 as well as 0.3 Mt LCE Inferred mineral resources 2 in Alberta and 2.5 Mt LCE Inferred mineral resources 3 in Saskatchewan. The Clearwater Pre-Feasibility Study outlined a 1.13 Mt LCE proven and probable mineral reserve with a pre-tax NPV8% of USD 5.2 Billion with a 29.2% IRR and an after-tax NPV8% of USD 3.7 Billion with a 24.6% IRR 1. Unless otherwise indicated, Kevin Carroll, P. Eng., Chief Development Officer and a Qualified Person under National Instrument 43-101, has reviewed and is responsible for the technical information contained on this news release. Forward-Looking and Cautionary Statements This news release includes certain forward-looking statements as well as management's objectives, strategies, beliefs and intentions or forward-looking information within the meaning of applicable securities laws. Forward-looking statements are frequently identified by such words as 'believe', 'may', 'will', 'plan', 'expect', 'anticipate', 'estimate', 'intend', 'project', 'potential', 'possible' and similar words referring to future events and results. Forward-looking statements are based on the current opinions, expectations, estimates and assumptions of management in light of its experience, perception of historical trends, and results of the PFS, but such statements are not guarantees of future performance. In particular, this news release contains forward-looking information relating to: the expected timelines for the assembly, testing and commissioning of the demonstration equipment; production, pretreatment, purification, volume reduction and conversion process and features and the expected outcomes thereof; the Company's expectations regarding the production of lithium carbonate; plans and objectives of management for the Company's operations of the Demonstration Facility; and the inherent hazards associated with mineral exploration and mining operations. In preparing the forward-looking information in this news release, the Company has applied several material assumptions, including, but not limited to, that any additional financing needed will be available on reasonable terms; the exchange rates for the U.S. and Canadian currencies will be consistent with the Company's expectations; that the current exploration, development, environmental and other objectives concerning the Demonstration Facility can be achieved and that its other corporate activities will proceed as expected; that general business and economic conditions will not change in a materially adverse manner and that all necessary governmental approvals for the planned activities on the Demonstration Facility will be obtained in a timely manner and on acceptable terms. All forward-looking information (including future-orientated financial information) is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, the effectiveness and feasibility of emerging lithium extraction technologies which have not yet been tested or proven on a commercial scale or on the Company's brine, risks related to the availability of financing on commercially reasonable terms and the expected use of proceeds; operations and contractual obligations; changes in estimated mineral reserves or mineral resources; future prices of lithium and other metals; availability of third party contractors; availability of equipment; failure of equipment to operate as anticipated; accidents, effects of weather and other natural phenomena and other risks associated with the mineral exploration industry; the Company's lack of operating revenues; currency fluctuations; risks related to dependence on key personnel; estimates used in financial statements proving to be incorrect; competitive risks and the availability of financing, as described in more detail in our recent securities filings available under the Company's profile on SEDAR+ ( Actual events or results may differ materially from those projected in the forward-looking statements and we caution against placing undue reliance thereon. We assume no obligation to revise or update these forward-looking statements except as required by applicable law.
Newsweek
10-07-2025
- Politics
- Newsweek
US Launches Massive Air Force Drills With Eye on Pacific War With China
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. The United States launched a large-scale Air Force exercise focused on the Pacific theater this week as the Pentagon prepared for a potential conflict with China over the vast region. Newsweek has contacted the Chinese defense and foreign ministries for comment via email. Why It Matters China, which is rapidly expanding its military power, has been viewed by the Pentagon as its "pacing threat"—a direct, consequential and near-term peril to U.S. security and values—and as its "pacing challenge"—a long-term risk to its influence, position and power. Taiwan, a self-ruled island democracy, is the primary point of clash between the two powers. The U.S. has vowed to deter Chinese aggression in the Indo-Pacific—Washington's "priority theater"—while Beijing has declared it will seize Taiwan by force if necessary. What To Know A "first in a generation" Department-Level Exercise (DLE) series kicked off on Tuesday and took place across the U.S. and Indo-Pacific region, the U.S. Air Force said. It involved 12,000 personnel from the Air Force and Space Force, along with more than 350 aircraft. The DLE series is scheduled to incorporate "multiple command exercises" into an overall threat deterrence scenario—including Resolute Force Pacific, which tested the ability to rapidly disperse units across the region to defend the U.S. and its allies. A United States E-3 Sentry aircraft landing in support of Exercise Resolute Force Pacific at Misawa Air Base in Japan on July 9. A United States E-3 Sentry aircraft landing in support of Exercise Resolute Force Pacific at Misawa Air Base in Japan on July 9. Airman 1st Class Koby Mitchell/U.S. Air Force "Our ability to fight and prevail in any contested environment depends on our team's ability to generate aircraft sorties while under attack and often far away from our main operating bases," said General Kevin Schneider, the commander of the U.S. Pacific Air Forces. The Pentagon has warned of China's growing missile arsenal, which is capable of targeting U.S. military bases and warships in the western Pacific. Experts have also urged the U.S. to fortify its airfields in the region as they are highly vulnerable to a potential surprise attack. "Training like this alongside the Joint Force, our allies and partners in realistic operating environments using distributed operations is how we integrate capabilities to overcome any national security challenge," said Troy Meink, the U.S. secretary of the Air Force. The U.S. Air Force said the DLE series sought to prepare the service to become a "stronger, more lethal deterrent force" that provides an advantage over competitors and adversaries. Meanwhile, the U.S. Pacific Air Forces announced that multiple B-52H bombers were sent to Andersen Air Force Base in Guam—a U.S. military hub in the western Pacific—from Minot Air Force Base in North Dakota on Tuesday as a Bomber Task Force deployment. A Newsweek map previously showed where the U.S. rotated its bombers in the Indo-Pacific region. The U.S. Pacific Air Forces said such missions enabled bombers to operate from a "broad array of overseas and continental U.S. locations" with greater operational resilience. What People Are Saying U.S. Secretary of the Air Force Troy Meink said in a news release on Tuesday: "This exercise, the first of its kind since the Cold War, marks a pivotal moment for our Air Force and Space Force, bringing together Airmen and Guardians to bolster our nation's warfighting capabilities." U.S. Air Force Chief of Staff General David Allvin said in a news release on Tuesday: "We need Airmen to move fast and think outside the box, disrupting the operational status quo. We also build trust and understanding through deliberate planning, operating and learning alongside our partners across the Pacific." General Kevin Schneider, the commander of the U.S. Pacific Air Forces, said in a news release on Tuesday: "We must be ready to operate in austere conditions, with degraded networks, and through disruptions to sustainment chains. Our forces must be self-sufficient, mobile, and capable of rapid adaptation." What Happens Next The U.S. Air Force's exercise coincided with Taiwan's annual Han Kuang war game, which began on Wednesday. It remains to be seen whether China will respond to both drills by increasing its military presence around Taiwan and in the western Pacific.
Yahoo
03-07-2025
- Business
- Yahoo
POSCO Plans to Build Pilot Plant in Utah, Eyes Lithium Production
Posco Holdings PKX has announced plans to develop a trial lithium processing plant in the United States in collaboration with Australia's Anson Resources. This is in sync with the company's efforts to expand its electric vehicle (EV) battery raw materials supply chain. This is the first time a South Korean company has taken steps to directly produce lithium in North America, enabling it to lessen its reliance on Chinese suppliers in order to meet the new import limits imposed by the United two companies have signed a memorandum of understanding (MoU) to construct the new pilot plant in Green River City, UT, next year. This plant will help determine the viability of Posco's Direct Lithium Extraction (DLE) technology for large-scale commercial production. The method uses natural evaporation to recover lithium from vast, low-concentration brine lakes. Anson Resources has mining rights to a lithium brine location in Utah. Posco's collaboration with Anson Resources will give it an edge over domestic rivals, such as LG Chem, which has supply arrangements with local lithium producers to supply the U.S. market rather than producing lithium themselves. Posco aims to market the DLE technology it developed in 2016, following the successful operation of the demonstration plant in the United States. The company intends to use this technology to invest in and commercialize undeveloped lithium brine lakes across North America. Following Bolivia and Argentina, the United States possesses one of the world's greatest lithium reserves, which are contained in vast brine the past year, shares of PKX have lost 19.8% compared with the industry's 25% decline. Image Source: Zacks Investment Research PKX currently carries a Zacks Rank #3 (Hold).Better-ranked stocks in the basic materials space include Carpenter Technology Corporation CRS, Agnico Eagle Mines AEM and Avino Silver & Gold Mines Ltd. Technology currently carries a Zacks Rank #2 (Buy). CRS beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 11.1%. The company's shares have soared 157.7% in the past year. You can see the complete list of today's Zacks #1 Rank stocks Zacks Consensus Estimate for Agnico Eagle's current-year earnings is pegged at $1.61 per share. AEM, carrying a Zacks Rank #1 (Strong Buy), surpassed the Zacks Consensus Estimate in each of the trailing four quarters, with the average earnings surprise being 12.3%. The company's shares have rallied 74.4% in the past Silver, which currently carries a Zacks Rank #1, beat the consensus estimate in each of the trailing four quarters. In this time frame, it delivered an earnings surprise of roughly 104.1%, on average. ASM's shares have rallied 271.5% in the past year. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report POSCO (PKX) : Free Stock Analysis Report Carpenter Technology Corporation (CRS) : Free Stock Analysis Report Agnico Eagle Mines Limited (AEM) : Free Stock Analysis Report Avino Silver (ASM) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
