E3 Lithium Sets Sights on Expansive Growth in 2024
Achievements in 2023 and Growth Trajectory for 2024
E3 Lithium Ltd., a prominent lithium developer in Alberta, has outlined its notable accomplishments in 2023 and its ambitious growth plans for the coming year. The company's achievements include a significant resource upgrade, the successful operation of a Direct Lithium Extraction (DLE) field pilot plant, and the production of high-purity lithium hydroxide.
Major Milestones of 2023
- E3 Lithium enhanced its resource base to 16.0 million tonnes Lithium Carbonate Equivalent (LCE) Measured and Indicated, becoming the largest in Canada.- The company demonstrated the viability of DLE technology at scale in Alberta, marking a significant step in lithium extraction from the region's brines.
- Achievement of 99.78% purity in battery-grade lithium hydroxide production, facilitating discussions with potential partners.
- Initiation of a Pre-Feasibility Study (PFS) with a leading global engineering, procurement, and construction (EPC) firm.- Strengthening of financial position through funding and grants, ensuring a robust balance sheet for future endeavors.
Strategic Initiatives for 2024
For 2024, E3 Lithium aims to further progress its business towards launching its first commercial facility.
Key initiatives include:
- Establishing Canada's first lithium-in-brine reserves as a part of the ongoing PFS.
- Deciding on the DLE technology for the commercial facility based on various criteria including performance and economic viability.
- Selecting a lithium refining vendor and progressing with downstream flowsheet development.
- Completion of the PFS to detail engineering, design, plant capacity, and updated financial projections.
- Expanding the team to support growing commercial activities and opportunities emerging post-PFS.
