Business
Result of AGM and Corporate Update
Result of AGM and Corporate Update.
About this update from Clontarf Energy Plc
[{"type":"text","content":"\n\n \n13th July 2023\n \nClontarf Energy plc\n(\"Clontarf\" or \"the Company\")\n \nResult of AGM and Corporate Update\n \nThe Directors of Clontarf Energy plc (AIM: CLON) announce that, at the Annual General Meeting held today, all resolutions put to shareholders were duly passed.\n \nThe Clontarf Energy plc Chairman updated shareholders on Clontarf's lithium projects in South America's \"lithium triangle\", as well as on petroleum projects in Ghana, Australia, and elsewhere.\n \nPrevious work had identified priority brines, with attractive grade and manageable impurities. Any exploration and development must be in partnership with the authorities, taking into account the interests of local communities, in accordance with applicable law.\n \nThe Direct Lithium Extraction (\"DLE\") technology developed by our joint venture partner in Bolivia, NEXT-ChemX Corporation (iTDE process), has continued to perform well in processing synthetic brines modelled on the chemical composition of key Bolivian salares. This has boosted our confidence level, and ability to advance to the next stage.\n \nThe next step is to field-test our iTDE process for the authorities, on the larger scale (40kg) samples received by our team, with all necessary permitting in accordance with law, from the 5 priority salares (salt-lakes).\n \nThe first phase of this process includes exhaustive laboratory test-work, testing several processing sequencing combinations, which is expected to be completed during the Q3 2023.\n \nBased on the volumes delivered, we then expect to conduct preliminary pilot-plant testing at the joint venture's facility, which is now being assembled in Austin, Texas.\n \nProvided this initial pilot-plant test-work yields results as expected, we plan to collect much larger (possibly up to 60,000kg) volumes of the highest yielding brines for full pilot-plant processing. This detailed work may allow us to fine-tune the iTDE process for some or all of the targeted brines, with the objective of high yields, low impurities, low cost and especially a limited environmental foot-print.\n \nBy facilitating new lithium supplies, the cost-effective and environmentally conscious iTDE process should help meet rapidly growing lithium demand without the cost and environmental issu...