Business
Open Letter to Shareholders from Chair of the Board of Directors Eric Zaunscherb
MONTRÉAL, QC / ACCESSWIRE / June 15, 2023 / Critical Elements Lithium Corporation (TSX-V:CR...
About this update from Critical Elements Lithium Corporation
[{"type":"text","content":"Open Letter to Shareholders from Chair of the Board of Directors Eric ZaunscherbMONTRÉAL, QC / ACCESSWIRE / June 15, 2023 / Critical Elements Lithium Corporation (TSX-V:CRE)(US OTCQX:CRECF)(FSE:F12) (\"Critical Elements\" or the \"Company\") today announced that Chair of the Board of Directors, Eric Zaunscherb has issued an open letter to shareholders.As Chair of the Board of Directors of Critical Elements Lithium Corporation, it has been a fruitful few weeks communicating directly with shareholders and investors, via timely marketing and other initiatives.In this letter, I want to address the recent decline in our share price and provide an update on the status of our strategic partnership negotiations. However, before diving into these topics, I want to take a moment to remind our shareholders why they own shares of Critical Elements Lithium and why our management team is passionately dedicated to realizing the potential of the Rose project:Continued healthy lithium demand for electric vehicles and energy storage systems as supply growth remains challenged.Strong economic support for the development of lithium projects available from the governments of Québec, Canada, and the United States.Pikhuutaau Agreement (IBA) signed July 2019 with the Cree Nation of Eastmain, the Grand Council of the Crees (Eeyou Istchee), and the Cree Nation Government.An important land package for hardrock lithium exploration and development in North America, with the right geological setting, scale (1,050 square kilometres), proximity to infrastructure (roads and inexpensive, 100% renewable energy), and location in Québec - known as one of the top mining jurisdictions globally.Robust Rose lithium-tantalum project2022 Feasibility Study (see press release dated June 13, 2022) for a mine and concentrator annually producing ~175,000 tonnes of high purity spodumene concentrate for the battery industry, and ~50,000 tonnes of premium spodumene concentrate for the glass and ceramics industry.A conservative price deck delivering a US$1.9 billion after-tax NPV (8%) and 82.4% internal rate of return.Key approval from the Federal Minister of Environment and Climate Change on the recommendation of the Joint Assessment Committee, comprised of representatives from the Impact Assessment Agency of Canada and the Cree Nation Government, and received the...