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Corporate Spotlight

Lithium Australia NL (LIT, formerly Cobre Montana NL) is a developer of disruptive lithium extraction technologies. LIT has strategic alliances with a number of companies, potentially providing access to a diversified lithium mineral inventory.
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NEW WORLD METALS - Interview with Adrian Griffin

CATHODE TECHNOLOGY

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Lithium Australia subsidiary VSPC signs MoU to commercialise its cathode technology

ASX Announcement 6 January 2020 


HIGHLIGHTS 

  • VSPC Ltd (‘VSPC’) and Beijing Saideli Technology Incorporated Company Ltd (‘SDL’) have signed a memorandum of understanding (‘MoU’) to commercialise VSPC cathode material. 
  • Terms of the MoU include the low-capital establishment of a supply chain for VSPC cathode material in China, and collaboration on a feasibility study for an international cathode material project using VSPC technology. 
  • The MoU was agreed following significant technical review and discussions around VSPC’s Lithium-Ferro-Phosphate (‘LFP’) cathode product. 
  • Demand for LFP batteries is expected to grow significantly over the next decade.


Background to the transaction 

A wholly owned subsidiary of Lithium Australia NL (ASX: LIT, ‘the Company’), VSPC is a developer of advanced cathode materials. With patented processes for the production of lithium-ion battery (‘LIB’) cathode materials, VSPC has a strong focus on the application of LFP in energy-storage and transport applications.


The MoU signed by VSPC and SDL will see the parties collaborate on a staged plan for VSPC to commercialise production of its LFP cathode material. This includes the establishment of a supply chain for VSPC customers in China, as well as a joint feasibility study for LFP production and supply outside China using VSPC proprietary process technology.


SDL has considerable expertise in the design and manufacture of process equipment and extensive experience in the construction, commissioning and operation of chemical process plants, including those for the production of LIB cathode powders. 


LFP cathode material 

The market for LFP cathode material is forecast to grow strongly over the next decade. In addition to core applications for ebus and stationary storage, significant demand is expected through substitution (existing) and displacement (expanding) in applications traditionally the domain of lead acid batteries; including but not limited to 12V and 48V applications for micro and mild hybrid powertrains, LSEV (low speed electric vehicles), datacentre UPS and 5G tower backup. Attributes of LFP that make it the ideal LIB chemistry for energy-storage applications include the following.


  • Deep discharge. 
  • Fast charging rates. 
  • High power delivery. 
  • Long operating life. 
  • Low cost. 
  • Wide operational temperature range. 
  • Safety (no thermal runaway).


Further, LFP is ideally suited to other applications in which the energy density of the battery is less critical, as with, for example, e-buses, light rail, trucks and military and marine applications.


Comment from Lithium Australia managing director Adrian Griffin 

“We see partnering with SDL – which has a demonstrated track record in process development and high-tech process plant delivery – as a great opportunity. VSPC’s MoU with SDL provides Lithium Australia with a low-capital pathway to the commercialisation of VSPC cathode powders, in order to meet targets set by our other partners in China. We look forward to working with SDL, with a specific focus on the anticipated growth of LFP cathode materials for transport and energy-storage applications.”


Click here to view the full announcement

FIRST PRODUCT SHIPPED

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First product shipped from new Envirostream Australia plant 

ASX Announcement 23 December 2019


HIGHLIGHTS 

  • Envirostream Australia Pty Ltd has shipped the first batch of product from its recently expanded Melbourne plant. 
  • That shipment included high-value mixed metal dust (‘MMD’) containing the energy metals cobalt, nickel, lithium and graphite. 
  • Lithium Australia NL has now increased its stake in Envirostream to 84%, in line with its agreement to move to 90% ownership.


Overview 

Envirostream Australia Pty Ltd (‘Envirostream’), a subsidiary of Lithium Australia NL (ASX: LIT, ‘the Company’) reports that the first shipment of MMD has left its upgraded battery recycling plant in Campbellfield, Victoria.



Lithium Australia has increased its interest in Envirostream to 84.1% (see ASX announcement dated 6 December 2019), which will ultimately become a 90% ownership interest. 


Comment from Lithium Australia MD Adrian Griffin 

“This shipment from Envirostream’s expanded operation is another important milestone in terms of revenue generation. By acquiring Envirostream and expanding its processing capacity, the Company is developing an environmentally responsible framework for Australian battery consumers. We aim to encourage sustainable battery use with minimal environmental impact.”


 Click here to view the full announcement

LIT SECURES $6.3 MILLION FUNDING

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 Lithium Australia secures A$6.3 million funding agreement

ASX Announcement 16 December 2019



 HIGHLIGHTS 

▪ The Lind Partners have agreed to invest up to A$6.3 million in Lithium Australia under a convertible security and share purchase funding agreement. 

▪ Initial investment of A$3 million will fund battery sales, battery recycling growth and working capital. 

▪ Lithium Australia has the option to repay the convertible security in cash subject to Lind Partners’ buy back conversion rights for up to 30% of the outstanding Face Value.


 Lithium Australia NL (ASX: LIT, ‘the Company’ or ‘LIT’) is pleased to announce it has executed an agreement with The Lind Global Macro Fund, LP, an entity managed by The Lind Partners (together ‘Lind’ or ‘Investor’), for an investment of up to A$6.3 million (‘Funding Agreement’). The initial funding commitment will be provided within seven days. 


Lind’s initial A$3 million investment will be provided by way of a secured convertible security and a A$100,000 share placement, the proceeds of which will be used, along with Lithium Australia’s current cash, to fund: 

▪ growth of the Soluna Australia battery business; 

▪ commercialisation of the Company’s cathode business, owned by its subsidiary VSPC Ltd; 

▪ growth of the Company’s battery recycling business, owned by its subsidiary Envirostream Australia Pty Ltd, and 

▪ costs of the funding, as well as general working capital. 


The Funding Agreement includes provisions that allow for conversion of securities outstanding to the Investor into fully paid ordinary shares in the capital of the Company (‘Shares’), optional cash payments by the Company or early repayment, subject to Lind’s buy back conversion rights for up to 30% of the outstanding Face Value. 


Comment from Lithium Australia managing director Adrian Griffin 

“During 2019, Lithium Australia has made a significant transition towards what is a more diversified, revenue producing business in one of the world’s fastest growing sectors – batteries and battery minerals. This Funding Agreement will improve the Company’s balance sheet, allowing us to grow our business in ways that are environmentally responsible and sustainable. The Lind Partners has been a long-time supporter of Lithium Australia and its directors, and we are pleased to continue our relationship with Jeff Easton and The Lind Partners.”


Comment from Lind managing director Jeff Easton 

“We have been following Lithium Australia since 2013. In that time we have seen Lithium Australia evolve from an explorer to a diversified battery and battery minerals Company with three distinct complimentary business units with excellent commercial potential. We are thrilled to invest in Lithium Australia and its management team to support the strategic plan of expanding operations into a diversified battery Company.”


Click here to view the full announcement

NEW WORLD METALS

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