International Lithium is engaged in the exploration and development of lithium and rare metals properties located in Argentina, Canada, Ireland and the U.S. Co. has not yet determined whether the properties contain reserves that are economically recoverable. The recoverability of the amounts shown for exploration and evaluation assets are dependent upon the existence of economically recoverable reserves, Co.'s ability to obtain necessary financing to complete the development of those reserves and upon future profitable production.
Namibia Rare Earths is focused on the exploration and development of its 100% held Lofdal Rare Earths Project located in north-western Namibia. Lofdal is a district scale exploration project covering 573 square kilometers with a focus on heavy rare-earth enriched carbonitite deposits. In addition to the Lofdal exclusive prospecting license, Co. holds two other exclusive prospecting licenses in Namibia.
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