Business
International Lithium Announces Strategic Goals For 2018
Vancouver, British Columbia--(Newsfile Corp. - February 2, 2018) - International Lithium Corp....
About this update from Ilc Critical Minerals Limited
[{"type":"text","content":"International Lithium Announces Strategic Goals For 2018Vancouver, British Columbia--(Newsfile Corp. - February 2, 2018) - International Lithium Corp. (the \"Company\" or \"ILC\") (TSXV: ILC) is pleased to announce the completion of a successful transitional year. We are building a green energy metals company in order to provide our shareholders with the opportunity to participate in the ongoing Energy rEVolution. ILC currently holds highly prospective projects in the most prolific areas of the world for lithium and rare metals. ILC's joint ventures with Jiangxi Ganfeng Lithium Co. Ltd. in Argentina and Ireland are an entry point to a vertically integrated lithium business with the largest lithium materials producer from China.During ILC's transitional year, we built a team of dedicated professionals who cover all aspects of our operations, and made further improvements to our internal controls and operating systems.We have succesfully activated all of our joint venture operations on the continents of Argentina, Ireland and Canada. Our partners include global industry leaders, Jiangxi Ganfeng Lithium Co. Ltd. of China and Pioneer Resources Limited of Australia.Our main priority for 2018 is to continue to advance our JV operations with a focus on establishing access to strategic sources of capital in order to advance our business plan. ILC plans to optimize our portfolio of assets, strengthen our capital structure and extend our shareholder base.Mariana Lithium Joint Venture with Ganfeng LithiumOn January 8, 2018, the Company, together with our joint venture partner, Mariana Lithium Co. Ltd. ((\"MLC\"), a subsidiary of Jiangxi Ganfeng Lithium Co. Ltd. (\"Ganfeng Lithium\")), announced the adoption of a 2018 budget for continued work at the Mariana lithium brine project (\"Mariana JV\") in Salta, Argentina. Current ownership of the project is through a joint venture company, Litio Minera Argentina S. A., a private company registered in Argentina, ownership of which will be 82.754% by Ganfeng Lithium and 17.246% by ILC. In addition, ILC has an option to acquire 10% in the Mariana project through a back-in right.Highlights of the US $17 million budget for 2018 include:continued natural evaporation studies;membrane separation studies;aquifer characterization studies;preliminary economic assessment (\"PEA\"); andpre-feasibil...