The first campaign work involved collection of 255 surface brine samples from lakes, Salt flat, rivers, and geothermal springs throughout the property. Results were used to map the distributions of lithium, potassium, and other parameters in surface brines.
The 3Q Project was acquired through acquisition and direct staking of concessions in early 2016. On January 11, 2016, this third party sold these six mining claims to the founders which created Neo Lithium (NLC) and LIEX SA wholly-owned subsidiary in Argentina
On July 18, 2016, NLC announce the completion of the previously announced qualifying transaction with POCML 3 Inc. and the successful concurrent raise of close to $20M.
Successfully closed an upsized a bought deal of units (1 share plus ½ warrant) at a price of C$1.10 per Unit for a total successful raise of ~$25m.
Announce its maiden resource estimate for the 3Q lithium brine project.
Announced the positive results of its preliminary economic assessment ("PEA") for the production of lithium carbonate at the 3Q lithium brine project.
Closed an upsized bought deal of common shares at $1.95 for ~$30m and also received C$15.6m from the acceleration of outstanding warrants from the previous $25m financing in early 2017.
Announced a resource estimate update for its 3Q lithium project with a 227% increase in measured and indicated categories.
Comprehensive environmental baseline study finalized with positive results and submitted to the Catamarca Province authorities, paving way for final mining approvals.
Pilot evaporation ponds expanded and producing high grade concentrate, and lithium carbonate pilot plant completed, with operation and training starting imminently.
Successfully completed and tested the pilot plant built by the Instituto de Investigaciones Tecnolágicas from Universidad de Concepcion, Chile and has shipped the Plant to the warehouse in Fiambalá, Catamarca, Argentina.
Announced extremely positive PFS after-tax results on its 3Q Project with over US$1.1B NPV8% and ~50%IRR.
Announced submission of its environmental impact assessment (EIA) for Construction of its 3Q Project
Successful production of 99.1 % Lithium Carbonate in the first batch from its pilot plant
Creation of a lithium industrial park in Fiambalá for the future construction of the plant
Production of battery grade lithium carbonate ~99.6%
CATL ~$8.5M investment for ~8% of NLC, a board position and a joint DFS and define construction financing.
Located in the Lithium Triangle
40% of global production.
90% of Brine Resource.
3Q Project is 100% owned and NLC controls entire salar.
Excellent access with current infrastructure.
High Grade. Low Impurities and Large reserve Base
3rd highest lithium brine grade in the world.
Lowest critical impurity content in the world (SO4/mg)
P&P Reserves 1.3 Mt LCE.
M&I Resources 4.0 Mt LCE.
Inferred Resource 3.0 Mt LCE.
Similar process producing in the region >20 years.
Fully functional laboratories, pilot scale ponds and plant.
3q Project pilot plant producing battery grade lithium carbonate 99.6%
Pre-feasibility Study complete.
20ktpa Lithium Carbonate annual production with post-tax PFS result of US$ 1.2B NPV8%, -50% IRR and payback of < 2years.
Full Feasibility ongoing.
Best in Class
Low impurity = Low OPEX
US$ 2,914/t OPEX is lowest quartile in the industry.
High grade = Low CAPEX
~US$ 16,000/t CAPEX intensity is the lowest of any greenfield development.
Proven Team / Structure
Strong strategic partner - CATL
Very strong technical domestic lithium experience.
Permits in place. EIA approval imminent.
Fiscal stability in the place.
Strong w/c and best in the class institutional ownership.