CleanTech Lithium (CTL)

Sector:

Mining

Index:

FTSE AIM All-Share

25.30p
   
  • Change Today:
      4.05p
  • 52 Week High: 63.00p
  • 52 Week Low: 11.00p
  • Currency: UK Pounds
  • Shares Issued: 145.16m
  • Volume: 677,494
  • Market Cap: £36.73m

CleanTech begins new drilling programme at Laguna Verde

By Josh White

Date: Monday 08 Jan 2024

LONDON (ShareCast) - (Sharecast News) - CleanTech Lithium announced the start of an ambitious drilling programme at its Laguna Verde project on Monday, marking a significant step in its efforts to upgrade its existing JORC resources and convert resources into reserves.
The AIM-traded firm said it aimed to generate a reserve estimate of lithium carbonate equivalent (LCE), which would be pivotal in the project's pre-feasibility study and eventual production plan.

It said the project's drill rig mobilisation and establishing a drillers' camp and support services had been completed, with drilling starting on 4 January.

CleanTech said it intended to drill five wells as part of the programme, with the first well, LV07, already underway.

The company said it had enlisted the expertise of renowned hydrogeology and resource estimation consultant Montgomery & Associates to oversee the resource drill programme and the subsequent JORC reserve report.

It said the programme would also include reinjection testing - a vital aspect of refining the brine extraction and reinjection model.

"We are excited to start off the new year with another active drilling programme at our flagship project, Laguna Verde," said chief executive officer Aldo Boitano.

"The aim of this drilling programme is to upgrade the current JORC resource, converting resources into reserves.

"This provides a key input into the pre-feasibility study and will inform the environmental impact assessment, all of which will support CTL's conversations with potential strategic partners."

Boitano said CleanTech was working with a "leading" international consultant, Montgomery & Associates, to deliver the resource drill programme, including reinjection testing.

"The reinjection of spent brine is key to minimising aquifer depletion.

"Furthermore, we are expecting results from our DLE test work and first eluate production from our pilot plant in the coming weeks."

At 1607 GMT, shares in CleanTech Lithium were down 1.3% at 19p.

Reporting by Josh White for Sharecast.com.

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CTL Market Data

Currency UK Pounds
Share Price 25.30p
Change Today 4.05p
% Change 19.06 %
52 Week High 63.00p
52 Week Low 11.00p
Volume 677,494
Shares Issued 145.16m
Market Cap £36.73m

CTL Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
Market averageMarket averageMarket averageMarket averageMarket average
44.44% below the sector average44.44% below the sector average44.44% below the sector average44.44% below the sector average44.44% below the sector average
Price Trend
Market averageMarket averageMarket averageMarket averageMarket average
60.00% above the sector average60.00% above the sector average60.00% above the sector average60.00% above the sector average60.00% above the sector average
Income Not Available
Growth Not Available

CTL Dividends

No dividends found

Trades for 22-Jul-2024

Time Volume / Share Price
17:08 25,000 @ 25.30p
16:40 50 @ 25.30p
16:40 50 @ 25.30p
16:18 436 @ 23.04p
15:51 1,000 @ 22.50p

CTL Key Personnel

CFO Gordon Bowman Stein

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