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05/06/2024 08:03:00
Direct Lithium Extraction
International Battery Metals (IBAT) and US Magnesium Sign Agreement to Install World's First Modular Direct Lithium Extraction (DLE) Plant
Modular design provides scalability and smaller footprint Technology effective with diverse brine resources, including oilfield produced brines, as well as subterranean brines (CSE: IBAT), today announced an agreement with US Magnesium LLC (US Mag) for the installation of its first-of-its-kind, patented modular direct lithium extraction (DLE) plant installed at a brine resource. The mobile facility is co-located at US Mag's existing operations outside Salt Lake City, Utah. IBAT's plant will process brine produced from lithium-containing waste-magnesium salts. The resulting lithium chloride product will provide feed for high-purity lithium carbonate production by US Mag. Modular, transportable design. In the last month, IBAT has initiated most of the equipment setup, including pipe and utility tie-ins and other installation activities of its patented modular extraction plant at the US Mag site. Initial testing of critical equipment is underway. IBAT anticipates that full commissioning...[ Read More ]
04/26/2024 18:30:00
Direct Lithium Extraction
INTERNATIONAL BATTERY METALS LTD. ANNOUNCES STRATEGIC PRIVATE PLACEMENT AND CORPORATE UPDATE
(the " Company ") is pleased to announce that it has completed a non-brokered private placement financing of up to 14,338,494 units (each a " Unit ") issued at a price of CAD$0.784 per Unit for gross proceeds of USD $8.2 million (CAD $11,241,380) (the " Private Placement "). Each Unit consists of one common share of the Company (each a " Unit ") and one Common Share purchase warrant (a " Warrant "), with each Warrant entitling the holder thereof to purchase one additional Common Share for a period of two (2) years at an exercise price of CAD $0.98 per common share. In connection with the Private Placement, the Company has agreed to extend the expiry of 6,396,999 previously issued warrants from April 21, 2025, to the date which is 24 months from the date of closing the Private Placement. The Company has granted customary registration rights to the investors in the Private Placement. The proceeds of the Private Placement will used by the Company to meet current obligations for the...[ Read More ]
01/11/2024 00:00:00
Direct Lithium Extraction
INTERNATIONAL BATTERY METALS LTD. ANNOUNCES THE SIGNING OF A TERM SHEET FOR OUR MODULAR DIRECT LITHIUM EXTRACTION PLANT WITH A CUSTOMER
Vancouver, British Columbia, and Houston, Texas – January 11, 2024 - International Battery Metals Ltd. (the "Company") (CSE: IBAT), is pleased to announce the signing of a term sheet for deployment of our modular direct lithium extraction plant (the “MDLE Plant”) with a customer (the “Customer”) in the western United States. Our MDLE Plant utilizes our proprietary selective absorption media minimizing the use of chemicals, reducing by-product waste, and recovering over 98% of our process water. The Customer is a significant producer of metals and minerals including the production of battery grade lithium carbonate. Pursuant to the terms sheet, IBAT will immediately begin mobilizing the MDLE Plant to the Customer’s site where it will be integrated into existing production facilities. The initial targeted production, following commissioning, is approximately 4,000 metric tons per annum of lithium carbonate with the goal of increasing this production to over 8,000 metric tons per...[ Read More ]
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