Rock Tech Lithium - Processing hub for European lithium supply
Since our last note on the company in June, Rock Tech (RCK) has announced the results of an updated preliminary economic assessment (PEA) on its Georgia Lake lithium project in Canada and raised an additional C$8.5m. The updated PEA used the economic outputs of its October 2018 PEA to include a lithium hydroxide converter to create a fully integrated mining and processing operation. Operating at nameplate capacity, the converter would consume Georgia Lake’s production over 10 years to produce 15,000tpa of battery-grade lithium hydroxide. An alternative case considered a 24,000tpa converter that would operate over 20 years and would require RCK to supplement the feedstock from Georgia Lake with material from third-party spodumene producers.Rock Tech Lithium is engaged in the business of mineral exploration. The recoverability of carrying amounts for mineral properties and related deferred exploration and development costs is dependent upon the discovery of economically recoverable reserves, confirmation of Co.' interest in the underlying mineral properties, the ability of Co. to obtain necessary financing to complete exploration and development, achievement of future profitable production or proceeds from the disposition thereof.
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