Cleantech Lithium (LSE:CTL) — Investor Presentation

0:01 Good afternoon, and welcome to the CLEANTECH LITHIUM PLC Investor Presentation. Throughout this recorded presentation, investors will be in listen only mode. Questions are encouraged and can be submitted at any time by the Q and A tab situated in the right hand corner of your screen. Just simply type in your questions and press send. The company made it with a position to answer every question received in the meeting itself. However, the company will review all questions submitted today and publish responses where it is appropriate to do so. Before we begin, I'd like to submit the following poll. I'd And now like to hand you over to doctor Aldo Buetano, CEO. Good afternoon, sir. Oh, hi. Good afternoon. Good morning from me.

0:34 I'm based in Chile, and that that's where we're doing the seminar along with me. I'm I'm CLEANTECH's CEO, and I have a background in civil industrial engineering and a MBA and a doctoral degree in The US is doctor Steve Kessler, our executive chairman. He's a doctor in hydrometallurgy, and he's very experienced on taking projects from early development all the way into production, financing, construction, etcetera. And, it's a pleasure to to have you all. We're gonna be sharing a presentation, and at the same time, we wanna highlight the recent public announcements, the RNSs. We just released the last week, and and we'll go in detail of the excitement and the good news of the the flow rates after our pumping test and reinjection work on the two basins that we have in Laguna Verde and Francisco Basin in the southern tip of the Lithium Triangle.

1:29 And also the RNS that we released yesterday based on the on the resource work, all the drilling at the three sites, the drilling campaigns that we're doing, and and all the the conversation we've been having with the Chilean government. All these things very positive. We're very excited. It's been a lot of work for the whole team here in Chile and in The UK and our and our board in in different parts of the world. So let's just start that with CLEANTECH, a a quick view, a snapshot of of what we're doing. Again, remind everyone, the ones who don't know us, from day one from 2017, when me and the other cofounders started the company, we've been always looking for being the one of the greenest lithium producers of the world with the lowest impact we we can do with a combination of renewable energy and the direct lithium extraction method that we are the ones who started more in the early stages when this was starting to unveil more into the mainstream since 2017.

2:34 So we had three leasing projects in Chile. They account for more than 500 square kilometers in various license areas that we have indefinite. That's the mining rights of Chile. As long as you pay the patents, you can keep them forever in these three sites. We had over 2,000,000 tons of lithium carbonate equivalent. We, yesterday, we unveiled some of the preliminary drilling results, and those will upgrade the this number. You can go for further information of the projections on the notes by various analysts, including, our two brokers, Canaccord and Daniel Fox Davis, of the the upgrades, how they will play into into exceeding these 2,000,000 tons even more.

3:21 The importance of having a wholly owned license, but not only to have them, but to have them complete controlling the basins, the basins that we are the complete basin of Laguna Verde, the complete basin of Francisco Basin, the southern basin of Yamara project, is that you can really don't have any competing projects projects on the areas. You can really do a hydrogeological modeling to be able to do and and and to comply with one of the big promises of direct lithium extraction that is 100% reinjection of the brine without the lithium. We'll go into details later on the presentation. But you can do that. You cannot do that if you have another project in your same basin. There's no indigenous communities inside at Laguna Verde and Francisco Basin.

4:09 Main reason because they both projects are at 4,400 meters of elevation, and there's not significant flora and fauna. There is, but not not significant, again, because of the of the altitude. I mentioned Steve's

4:22 board and management and and the whole board and management capacity. Steve, in particular, developed the two largest copper mines of the world, both based in Chile and projects in South Africa and the largest back then uranium mine in Namibia. All this experience serves very well, and but the rest of the world is as qualified on on various fronts and from financing, from

4:49 accounting, all the ESG credentials that that we we have and and that we're working on. And, again, we'll go in detail as we go into the presentation. In 03/17/2022, we got listed on AIM. We're now going to other markets as well. We just had, this week, announced too that on The US market where QX re registered. And so the stories we raised 4 millions £4,000,000 in a pre IPO in 2021 in the last quarter, then 5.6 in March 2022, and then a further raise of 12,000 12,000,000 point to 12.3 millions we raised in November 2022.

5:44 1,100,000 tons of those two are in Laguna Verde, where the license area is 67 square kilometers. 800,000 of them are indicated and measured. That means there's more certainty of them. Enough for a 20,000 ton per year production for for thirty years. And Francisco Basin with half million tons and mostly inferred 305 milligrams per liter, the average, the two zero six, allows also when we finish the drilling season and then we we comply with an upgraded resource. And we finish also a scoping study. We also project 20,000 tons per year production initially for for thirty more years. Yamarasi Greenfield Exploration is a very large and vast area located in the northern part of the Lithium Triangle, a little to the north west of Salar De Takama at 1,000 meters.

6:40 The three of these projects have excellent infrastructure. Chile's premier mining jurisdictions always been along with with Canada and Australia, and and that helps a lot these projects and the early developments and the continuation of the of the projects into into the future. Some key data. Our market cap is around £50,000,000. The share price has been around 50 p on the recent days. Again, we're OTCQX in the in The US. We're also listed in in Germany, and we're going do a listing with with Australia. We also released this. We intend this to on the early stages of the of the third quarter to to be doing that. We're doing all the hard work and to be able to comply with the Australian ASX requirements.

7:34 And we received some awards. When we got listed, we received The UK Investor Magazine Award for the best IPO. We listed just when the the Russian Ukrainian war started, and and we succeed on a successful racing.

7:51 Also, Forbes listed us as as the top four lithium stocks along with the Piedmont and Atlantic Lithium and Albemarle, and and mining.com on the top 10 lithium stocks to invest this year. And our two brokers are, again, I said it, the capital markets, Canaccord Genuity Capital Markets and Fox Davis. And Canaccord declared us the top pick on the mining sector and energy sector for 2023. One of the reasons we're getting listed in Australia, it's a significant percentage of our shareholders, around 30%,

8:27 is from Australia. Regal funds, an Australian leading fund in in energy and mining and also very important in Canada, has more than 16%. The the board and and and management controls almost 20%, including me and Jason, the other cofounder, but also the the the board and and and some of the executives. So that's one of the reasons we're listing in Australia is the importance of legal funds and another investors. Lithium. Lithium, the demand for lithium. I don't know, Steve, if you wanna touch in here. No. It's just that the the the growth rate is is very, very high, as everybody knows, particularly in the EU, which is very keen to electrify the vehicle fleet, trying to to battle the carbon dioxide emissions.

9:23 But the most important thing there is that they are demanding that the materials going into those batteries are also carbon neutral, and that's where it's very important for for us. It gives us a great advantage for putting material into Europe is that we will be producing green lithium with close to zero carbon con content. Thank you, Steve. So let's talk in detail what I I I mentioned in the snapshot and my introduction of the projects we have. Here, you can see in this photo the small footprint of a drilling. And then when once you're finished, this is very small for anywhere from three to eight inches casing that that comes from the to the top, just a meter or so, and then deep into the subsurface.

10:14 At Buena Verde is a project more developed. We drilled four drilling holes in the previous campaign last year. That goes anywhere from October till June, and now we drilled two more holes in this season. Those are l b o five and l b o six drilled this season. So six, that allows us the previous four to 1,500,000 tons, as I mentioned before. The the then it that was released in 2022. And, and now we we expect to to move that a little bit up, and then at the same time, more measured and indicated with the with the two ones we just did. The highest grade we have on the completed wells, is four seventy milligrams per liter.

11:01 There's a lot of geothermal activity in the area. All these brines comes between twenty and thirty degrees, and and the average went a little bit high, the two zero three milligrams per liter. This is all important for future production, but not only is important the grade, but at the same time, the depth of the of the subsurface aquifer more than 300 meters each, you know, l b o five, l b o six, more details are on there. And just released, RNS was very complete and detailed if you wanna check it up. But something what was very exciting is the flow rates. We had

11:40 when we when we thought that we with the hydrogeological information of the basin from our own geophysics and existing data from the Chilean government and authorities, we said, well, hopefully, we'll get 30 liters per second. And and we actually did that on on the pumping test and the reinjection initial work. This is very, very important, to confirm the the bottom of of our projected

12:09 production with 20,000 tons per 20,000 tons per year. We're doing the environmental baselines. We've already finished the four seasons of assessing what is happening in this basin, very important from the environmental impact assessment. And just, again, very, very happy of the results and the good work at 4,400 meters in the High Alti Plano in here in Chile. The scoping study that came out, again, 20,000 tons per year production, thirty years of operational life. We have more than 800,000 tons of indicated and measure. We we aim for eighteen months construction. We'll be in 2026, starting construction in 2000, '25, and currently working on developing more the resource hydrogeology environmental work along with the community early engagement that is key for for the the path forward of of the project as they are they're not on-site. They're 2,000 meters below, an hour and a half, two hours from our sites, but we drive through them, and it's very important that we bring them early on as as we have done.

13:23 We have a high recovery rate on our direct lithium extraction projection, more than 90%. That compares to 40 to 45% of evaporation ponds, the other way of producing lithium from the brine. The the the third way is it's out of rock, of course. The recovery rate at the at the plant is 94.

13:45 The the old recovery rate again is 85 compared to that forty, forty five. Takes less time to go from initial work of construction into production. You don't have to build evaporation ponds at much lower footprint as as I and Steve have mentioned. And this is the key financial metrics around 400,000,000 of a CapEx.

14:07 The the operating cost of a of a US of a ton in dollars of a ton of lithium, it's it's around $3,900, and that's compares to around 3,500 of the evaporation ponds. We have a very conservative lithium price coming from Benchmark Minerals and Canaccord of $22,500.

14:31 The payback period is just a little bit more than a year and a half, and this is all the calculations. The net present value of this project this project alone of Laguna Verde is $1,830,000,000. Francisco Basin, who I'll touch later in the next slide, is it's similar in evaluation. It's attractive economics. The government gets also a nice chunk of the of the revenue along with the lines of the national lithium policy and what's been happening in the country. Again, I'll touch that a little bit later. So Francisco Basin, we have a big debate always internally and with some of our analysts which project will be bigger, more significant. And even though they're in a similar type size of basin and the drilling we've done and the resources we think will be similar,

15:22 something that came out very surprisingly is the the the flow rate of the of the hydrogeological work. 80 liters per second. That's very, very unheard in the lithium triangle and in particular, grass. That's one well producing with various calculations. This is just a rough figure around 4,000 tons per year. It's a will mean a lower CapEx when we do the work of the 20,000 tons per year and all the assumptions and less construction on on on on the pumping and and the and the aqueducts that bring the brine into the facility of producing via direct lithium extraction. But I got it a little bit ahead of the story of Francisco Bay. We drilled one hole, f b o one very well constructed that came out now with this excellent flow rates just a couple of weeks ago that we announced.

16:14 We are drilling f b o two, f b o three, f b o five originally We're doing that so. We're close to completion, but we added two more wells, FBO four and FBO six. That's as the as the we got more knowledge of the of the basin and the drilling improved, that's why we added two more wells. So we're gonna have a very nice resource update, again, moving from the inferred capacity inferred evaluation into indicated and measured. All we already have to sustain 20,000 tons per year production. The the average lithium rate of f b o one is it's higher than the one in Laguna Verde, three zero five milligrams per liter.

17:00 We're doing as in Laguna Verde all the work of environmental baselines. We're gonna have a scoping study, then we'll follow-up by a PFS. I forgot to mention in Laguna Verde, we're working already with the PFS with Worley.

17:15 And, again, this will move into a project of the caliber of Laguna Verde and will bring another big evaluation of the value of the of the company. Working hard, a very experienced team both in Chile and the management in The UK and the board, and very pleased to see this project also going forward. You can see some of the infrastructure in the roads already in place. It's even cell phone coverage here with the existing gold mines

17:45 so close in the area or around the the area where we are. The same for Laguna Verde. It's an international highway that goes through it paved and everything. So Yamara, this is much north northern, as I said. You can see at the bottom of the of the presentation geo the geophysics that we acquired from an early oil and gas exploration from the government many years ago.

18:08 The the the light magenta color shows high conductivity or low resistivity that it it means there's brine down there, and there's a big, thick subsurface aquifer of brine, a little bit deeper than the one we have in Francisco Basin and Laguna Verde. By the way, the geophysics in those two sites had rat been ratified by the drilling. So so we know there's salty brine down there. The question remains of how much diesel there is. We drilled. We we went, more than 300 meters, actually, 321, and we found gas.

18:47 The Chilean government looked for gas many, many years ago, didn't find gas, and and then we were looking for lithium, and we find some some shallow gas. We moved to a to a new position. We're following evaluation of seismic data to avoid finding gas again. We might go into this in the near future, but right now, our main interest is to find lithium. And this could be a game changer for CLEANTECH. Again, the the the the other two license kilometers combined of Francisco Basin and Laguna Verde account around for half of what we have in Yamaran. We're working even to expand this. So if we find brine and and and the lithium content is it's enough for our DLE directly to mass traction work, then this could be be, again, a very, very much a game changer. We're fully financed on both projects, Laguna Verde and Francisco basing all the way into the completion of the the PFS, the pre feasibility study, again, that we're doing with Worley. But Yamara, it it's something that, again, could be a game changer and may as part of the reasons we're going to Australia on top of the importance of our shareholders there and and to have another major market stock market with us. It's an ability to raise funds to expand this project if as we think drilling goes forward well.

20:12 So what's our vision? Steve, you're you're the executive chairman. Just lead us through. In in terms of, of our current program is we are looking to determine the resources across all three projects and demonstrate the economic value of the projects by completion of the scoping studies and prefeasibility studies. Unlike most other junior lithium

20:40 explorers, we have not sought to give out any offtake contracts, nonbinding offtake contracts. We believe that is is premature. We'll be better placed to undertake those discussions with potential off takers and potential strategic partners at the end of this year when we've completed the pre feasibility study of Laguna Verde. We will know all the economic value of the projects, the size of of the projects, and then clearly, there'll be potential partners very much interested in coming into those projects with us. The the pool of potential partners is much wider than it was two years ago. Essentially, was only Chinese companies looking for offtake. But as the world is electrifying its vehicle fleets to ensure security of supply, we're now seeing even the car manufacturers entering this space.

21:37 Now companies such as General Motors provided Lithium Americas with $650,000,000 of finance.

21:44 Stellantis have taken an equity participation in the Vulcan energy project in in in in Germany. We're seeing major mining companies like Rio Tinto entering this space. And, clearly, there's all the trading houses in Japan and Korea and the battery manufacturers all wanting security of supply. So we believe that by the end of this year, we're very well positioned to enter into substantive discussions. And the quid pro quo is if you want offtake from us, how are you gonna mobilize the construction capital to get this this project into production? So, basically, that's our our our strategy, making sure that we will engage during this year, and meet up with people, but no substantive discussions until the end of this year.

22:33 Yep. Yep. Thank you, Steve. Yeah. We've taken some of those

22:39 future or potential future off taker partners to site. They're very impressed with what they found. Again, we can't disclose who who have been talking in an early stage with us, but very exciting news. So let's have a a snapshot of direct lithium extraction. This has been around in many, many years and twenty years, enlivened in a project in in Argentina, formerly owned by FCM. They are extracting the lithium without the series of evaporation ponds with a resin,

23:12 but then it it started to be more mainstream when we started in 2017. By 2019, Sun Resin, who now partner, a major resin producer of of the world, the largest one, it's a 4,500,000 US dollar market cap public company.

23:32 They constructed two projects in in China and partnered with and bought subsidiaries, wholly owned subsidiaries in Belgium who were working on the on the piloting stage with them. And many others come you need for the brines that are being developed, the projects that have lower brines that the traditional Salada Takama, who is at very, very higher high grade.

23:58 There are these some extraction is to go the way to go forward, but at the same time for environmental reasons. So how does it work from the subsurface brine aquifer that we'd identify while drilling and doing our hydrological work? You have an extraction well. You pass it to the d DLE plant where this this resin organic resin absorbs the lithium, then you strip that lithium with some industrial water that you have on-site, very, very limited number quantity of water to do so. And then and then you you you reinject the spent brine past this stage, a 100% of them back in the subsurface aquifer. Again, to be able to do that, you need to control the basins and study the hydrogeological modeling of it and and and understand what's beneath there. We're the only ones who are doing direct lithium extraction and owing holy holy basins.

24:56 We that's why a lot of the big names have been approaching us, and we're leading this. So that's how it works. So then you go after the direct lithium extraction, the resin and some mechanical work. You you process this all the way to battery grade lithium. We already produce one kilo of lithium carbonate in excess of the qualifications that's certified in Germany of the 9.5% concentration, and it's ninety nine ninety nine point nine, actually, with very low impurities. Again, there's no evaporation pond, no aquifer depletion, low carbon, low water conception, faster to market, and and low less CapEx than evaporation port. And the Chilean government has state publicly in in their announcement of the national lithium policy that this is the way to go forward, and we were the ones early on talking to the authorities about this.

25:54 Again, back in 2019 had two plants, now have nine. They've been delivering at 30 73,000 tons per year via direct lithium extraction. Chile, my home country and where we're talking today. The the Chilean government around spoke publicly about the the national lithium strategy, said that that the the projects have to go with the regulation extraction, as I mentioned, in in the in the partnership with the with the local indigenous communities with an early engagement that we have. Basically, the government said, I have Salars, the Salar de Takama, who's rented to the to two companies, SQM and Aldemari.

26:43 They they said they want to extend the lease of SQM having involvement of the government then. Then they said that that the the the Salars are owned by the government the ones that are owned by the government are owned via two special vehicles from copper producers. That's Codelco, the largest world copper producer. They have a special vehicle of lithium, and it's drilling in Maricunga, a Salar farther south from Salar De Dacama, who's within the region we have, Laguna Verde and Francisco Basin. But there's many others there. There's lithium powered and a and and South Korea and a Chilean joint venture group. And and they're working together towards developing that. And and, again, especially with the the extraction and the all the reinjection, they're they need to work in collaboration, and that's what the government has signaled.

27:36 But, there's five more Salars owned by Yanami in our in our region. We see this as very positive for us as we have all the work and the resources and the knowledge of of of drilling, bringing projects into resource evaluation, then the tech the the engineering work of scoping study PFS, plus the the direct lithium extraction work where we have a small unit

28:00 in Copiapo, the nearing mining town where we're working on the water modeling, water balance, and the and the metallurgical metallurgical processing of the direct lithium extraction and where we have, at the same time, a commission. We'll be installing it this in July this year, a one ton per month production of lithium carbonate from our two sites, Buena Verde and Francisco Bay. I I and the the last thing that the government signaled and they've been very positive with us, we've been talking to the mining ministry, this publicly announcements of that. And at the same time, we've been talking to Invest Chile who leads the foreign investments into Chile and and also been talking to these entities that I that I mentioned, they they want to create incentives to partner in a minority stake with companies like us who are going into closer into production. Again, is aiming to be in 2026.

29:03 We could go on our own and present our applications for for operation. We have them written and everything, but we really wanna have a a a value created with the with these incentives that the government is saying for partnership with any minority minority stake and waiting for that to happen and can tell you everything, but we're working very extensively on that. And, again, we tick all the boxes of of the technology, of the advancement of the project, wholly owned license, wholly owned basis, experienced team, and even 45% of our workforce just by merit is is woman. That's another important thing and rare on the on the mining world.

29:52 So whatever thing is happening, as Steve mentioned, the whole world is going into EV, especially incentives in the in The US. We're the only country that has us producing lithium and has a a free trade agreement with The US. Actually, last night, I was in a dinner where the Chilean president and the mining ministry and the highest authorities were where we were celebrating the twentieth anniversary of signing this free treaty. Why is it important? Because the the recent inflation reduction at at the the US government release requires that 80% of the minerals in the battery to be sourced from The US or free trade agreements. And, again, we're the only ones. The government has also unveiled some action plant with improved permitting, with some tax investments, and other things to to speed up the the the process of of going in into production.

30:48 Chile owns most of the reserves of the world. We're the second largest producer of lithium, but only with Salar de Tacama and other Malian SQM and with evaporation ponds. We aim to be the first project into production in Chile and show a path again of being clean, green, and and an excellent collaboration strategic collaboration with the government and with the indigenous communities. Why we think we'll be in production in 2026? Because our drive forward socially minded minded approach, we we we, from day one, brought our core values. I'm a very sorry to talk about myself respected and famous mountaineer here in Chile because I I I participated in a successful climb of k two, second world highest mountains, and many other mountains and also my involvement in bringing some of the values of the outdoor into and privilege kids via foundation for many years. I actually organized the first day of cleaning up the mountains.

31:59 So I saw these pristine areas. I saw there's there was brine potentially to be, produced from these areas. And and from that day on, we set up these core values that has transmitted into into the how the company is today. There's no conflict in producing and helping the world with green lithium to to go into the the cultural transformation and the the into electric vehicles and help the environment of the world, but at the same time, keeping these places as they are pristine. So you can read here about the values. You can download this presentation and also some instructional videos from our website. We are we we have worked without any incidents at three sites, two of them at 4,400 meters. We've been very open here. You can see the communities.

32:53 There's six of them in in the the access to Laguna Verde. We are adding another one into the access of Francisco Basin. All of them are working in an important way from our own work. They're working to be in just one big organization so they can have one voice in this area. We've been taking before we drill. We've been taking them to the drilling sites. While we're drilling, we're gonna take them while we close the wells to see what we're doing. We've been talking to them and taking them to to explain directly some extraction to our small large scale unit that we have. We're gonna do the same when we upscale to the larger one in in the in July when we have it commissioned.

33:41 I've been going to radio shows, bingos along with other people from the company. We have our operations in Copiapo. We we we're really doing our best from our heart to engage everyone and to have a successful project in the area. And it's been well received. Steve, our road map to raise the CapEx we need for our funding, if you could help me here. Yeah. The project is very strongly cash generating payback in in eighteen months or so. So we believe it's gonna be very attractive to the the banks provide conventional finance, but there's lots of other sources of finance available. We're seeing the the ESG funds, green bonds, all desperately searching for green projects in which they can invest.

34:40 We see potential from the inflation reduction act in The United States. You know, countries are very keen to see, clean, lithium going into The US and into the the EU, and there will be support funding available from import credits agencies like KFW in Germany and OPIC in the The United States. And clearly, at the project level, when we bring in a strategic partner, they will be investing in the equity in the underlying projects that that we have. There's also potential. There's royalty companies, streaming companies. So there's a whole battery of potential sources of finance.

35:25 And towards the end of this year, we will engage a financing consultant to assist us in what is the best mix of of the finance that we'll put to put put together? Now each project is 400,000,000. It it sounds quite a big sum for a junior, but for a mining project, that's that's quite a a modest ask. So we don't believe there'll be any difficulty in putting a a financing package for 400,000,000 together. Thanks, Steve. So our path into production, again, a short lead time, and we'll take questions after this. We've have a proven direct lithium extraction technology. There's plants operating in Argentina and China.

36:10 Not only we've been working with who among all the vendors, they are the only ones who sell you the technology as a traditional and the machinery and the installation as a traditional vendor. The the there's other vendors out there, but they they have been they have more of an equity approach. We actually turned down LITHIUM successfully. Is working on this front. But but, basically, because it's a black box technology, we keep talking to all of them to to see what resin that can they provide. There's also resin producers that we're we're testing. But, again, we're going a sure path with sun resin into the future as the only ones who are successfully, have escalated, from piloting into production their their their DLE technology.

37:00 Again, I mentioned excellent infrastructure. Chile is the highest per capita country of of Latin America. We we are we have credit ratings sometimes higher than the ones in The UK. Have a life expectancy higher than the than The US. And and we've been leading the world, and I was part of it under new power development. I developed three projects accounting for more than 800 megawatts, all engineering and all the permitting, and then they went into construction. Road again, roads, ports, energy, and everything. Within a kilometer or so of Francisco Basin, there's a substation with enough capacity to have a 100% of renewable energy on the project.

37:45 And in France, in Laguna Verde, it's only 52 kilometers away. That's very close. All the right to operate and and the early work and with not significant flora or fauna to disturb and and indigenous communities who are not on-site and who we're working with. The government has been very supportive publicly and privately. As Steve just mentioned, we're financed for getting to our PFS stage and then for grow. We're holding off on these strategic partners and offtake agreements past derisking of the project once we are finished the PFS of of Laguna Verde and all our ESG focus. With this, we'd like to take some questions and pass it back to you at at Investor Meat Company.

38:37 Yes, Aldo. Steve, thank you very much for your presentation. Ladies and gentlemen, please do continue to submit your questions just by using the q and a tab situated on the top right hand corner of screen. We have received a number of pre submitted questions from investors, and I want to start off the q and a session with these. The first one reads as follows. Are the key highlights on the news announced yesterday, and what are you most encouraged by? Well, I'm I'm I'll take this one. I'm very encouraged by the fact that the the grade of what we had drilled and and the new work that we have done on on the on the hydrogeological modeling and the flow rates sustain the claim that we can at least produce 20,000 tons per year. The the significance of having those rates, 300 30 liters per second in Laguna Verde was high, and the extremely rare and very high 80 liters per second on Francisco Basin is means that our CapEx are within, what we have projected and study on the scoping study. It was, like, a preliminary economic assessment for Laguna Verde. And and and it means very likely that it'll be less CapEx in the in the Francisco Basin or higher production.

39:46 So those two things on the on those two more developed projects, a more certainty and less derisking of the project as going forward is very important. And Yamara, we drilled 321 meters, the ability to drill fast, and and the fact that we were starting to get some salty results. Of course, the the gas changed everything, and we have to move and close that well. So it it's giving us indications that there's there's we're gonna find salty brine down there. Now, again, we need to confirm the lithium grade. And it's so vast that we're interest and happy about it. I mean, really motivation. And and a good thing for the whole team here who got very excited that of the of the work coming public.

40:34 Perfect. Thank you very much for that, Aldo. Steve, maybe one for you. Regarding yesterday's news, what does the average grades mean? If the grade is higher, how does this impact operations? Okay. When when we drill each hole, we drill through the aquifer thickness. As an example, L V 05 is 375 meters thick. We take samples every every six meters, so we have 62 samples done down that drill hole. We analyze each one of those 62 samples and then declare, you know, the range was 175 to 315 grams per liter, and the average of those was was 202. So we get an average grade for each of the drill holes.

41:23 And what grade means is the higher the grade means that you need to pump less volume to the plant to produce a fixed amount of lithium carbonate. That means the higher grade, the less drill holes you need, the less piping you need, the less operating cost for operation of those pumps. So high higher the grade, the better. Perfect. Thank you very much for that, Steve. Wanna address to you, Aldo. You said you're surprised with the pump test at Luca Nuverde. What's this mean, and why were you surprised? Well, when you when you drill and and and and and you find the subsurface aquifers who are semi confined or confined by clay on top of them, meaning they're above one atmospheric pressure, you you just think of all the projects that are out there. Lots of them are at 50 liters per second, then you you find that l b, they're 30 liters per second. And, again, Laguna Verde, 80 liters per second.

42:27 That along with the grade that Steve is mentioning, the thickness of the aquifer, and the ability of the subsurface aquifer to to to to give you a high flow rate to extract, it means the operations is it's more simpler. You can aim at least for the 20,000 tons per year, not higher. And and it's less in whales. So it's high. It is high. It's it's rare, actually. The the 80 liters, it's exceptional. And 30 liters, it's it's very good. We're very, very happy. I mean, the surprise is is because in the in the sector, you have much lower 15 liters per second, and and other companies are very happy about that number.

43:14 Perfect. Thank you. The next question here reads as follows. The reinjection test at Laguna Verde are first in Chile for the lithium industry. What are the benefits of this? Why are you try what are you trying to test, and what is a good outcome? It's not only a first in Chile for the lithium industry. It's a first in Chile for the world. Rejection has been happening in the in the oil and gas industry and in the mining industry, but in lithium industry, it hasn't. The benefits of this is, again, the 100% of the spent brine that we're what is what we're we're trying to test can be reinjected. The thing is, can the the the the soil absorb this back and and and can you reinject it in the subsurface aquifer, keeping the the chemistry of the subsurface aquifer, and keeping the the flow rates. And that's what we're trying to prove, and the initial work, it's it's very, very good. And, and that that's what we're trying to aim. Again, a lot of people promise reinjection and talk about reinjection We're the one first ones expending resources and and trying to gain more knowledge.

44:17 And and and as as it's going forward, we we're doing it right. The indigenous communities were very surprised when we introduced our team, and we we introduced them a lead hydrogeological competent person. I mean, not a specialist. They said that that there's three or four lithium projects there, most in Maricunga, and this is the first time they've been introduced to a hydrogeologist. So that team has been working forward to achieve the promise of a 100 cement brine without the lithium being reinjected. Perfect. Thank you very much. You published a scoping study saying 20,000 tons of LCE a year. How many cars will that support? Well, I think if if you look at at at the cars, you've got a range from the, you know, the small city type cars with low low range and and not so powerful all the way up to the electric Porsches and Tesla s.

45:19 And the the more powerful cars and the ones that have longer range have larger batteries. So you end up with the the small cars will maybe have a a 20 kilowatt, you know, battery. The larger ones, 80 to 90 kilowatt batteries. And the more kilowatts, the more lithium it it is used. So you probably get from 20,000 tons about 300,000 batteries to supply a Porsche and maybe a million to power a sort of Chevrolet Volt type city car. So depends on the on the size of the the car and the power of the battery, but somewhere in that 300,000 to a million. Perfect. Thank you very much.

46:06 Steven, maybe another one for you. Where do you want CLEANTECH LITHIUM to be by the end of the year, and what potential can investors expect? Well, I think we would have covered a lot of work during the course of this year. By the end of this year, we should have had upgraded resource and a prefeasibility study completed on on Laguna Verde. We would have done the upgraded the resource from Francisco Basin, the scoping study completed at Francisco Basin. We were done drilling at Yamara to demonstrate whether we've got a real project there. We would have installed the the sun resin pilot plant expected sort of August this year and had results, you know, from that pilot plant producing battery grade lithium carbonate and or hydroxide by the end of this year.

46:59 We would have been dual listed on the ASX with the news flow and with the listing on the ASX. We would expect our our share price to significantly appreciate during the course of this year, get closer to our peer group who are already listed in Australia. We should have submitted our sales, the operating contract that we need from the the government and be in negotiation with the government on that. And at the end of this year, we should already be in discussion with potential off takers and and strategic partners and starting the process of selecting where do we want to sell our material to, and who do we want to come in as a as a long term partner.

47:46 So I think a lot of work is gonna go during the course of this year, and we'll be in a very good position by the end of this year for the next stage of going towards construction and into operations. Perfect. Thank you very much. Steve, another one for you. How do you evaluate the investor meetings and conferences you have attended since the beginning of the year? Do you find it successful, and how is the feedback to you? Oh, it's it's extremely important. You you can have a very good project, do lots of work, but unless you tell people what you're what you're you're doing and where you're going, nobody will know. So we've been attending conferences and having meetings with investors in in Europe well, in The UK, in Germany, Switzerland, United States, Singapore.

48:38 And in general, the feedback that we get is very, very positive towards the project and what we are doing in terms of wanting to produce green lithium, I. E, low carbon footprint, low low water use, in comparison to the big producers using evaporation ponds in Chile or the hard rock miners in in Australia. And there's a good recognition that we're gonna be in a very good position to provide our green lithium into The EU and The United States. I think the the the one caveat in in recent meetings over the last month is since the announcement by the the government in Chile on their national lithium strategy, how it's been misconstrued by the world's press.

49:27 We're talking about nationalization when it's anything but. It is the government trying to attract private investment to expanding the lithium production capacity of of Chile. And we're part of the the the messaging and trying to explain to people exactly what the Chilean government is trying to do. Perfect. Thank you very much, Steve. Aldo, one for you. How is the investor approach after Chile's national lithium strategy announcement? What's the risks and benefits of the strategy, and what is your likely worst case scenario? Okay. Well, already Steve just mentioned that it's misjudged around the media and the world. Again, Chile, the the government owns the Salar Takama, runs it.

50:14 Codelco owns a Salar Corp Pedernales within our area, part of Maricunga, and and Nenami, five more Salars. Those account for a big percentage of the reserves of Chile. So how can you nationalize something that the government owns with the mining licenses? It's the it's the opposite they're bringing, and that's what we said in the RNS. It's an opportunity for us to engage in those development of those solar. As the government said, they don't have the resource or the knowledge to develop them, and we are in the area of those in in the Laguna Verde and Francisco Basin area. And then they said small projects or sorry. These projects were not strategic like us. Only Salarota, Cam and Maricuna have been declared strategic, have to go into production fast, and and they will, again, try to create incentives for this partnership with the with the government in minority stake.

51:07 So we take it as as very good. What are the risk and benefits of the strategy? The risk is that we get in a sort of a of a bureaucratic or or a political conversation, and this gets delayed. Gotta remind everyone that Chile has turned significantly to the right and more pro business business with the with the congress being a little bit more than 50% tilted to the center right. The center left is also pro business. Actually, this government was the first one who took the step forward to develop the lithium industry. And and then we're gonna have a a new constitution that's gonna be voted in December 17, and it's more than 70 of the of the group working to to agree or not on when the the the what it was submitted as a as a panel of experts only a week ago to for them to to debate is again to the from the central right.

52:09 By the way, in that initial draft of the constitution, lithium doesn't have a strategic and non concessionable status as it has on the previous constitution. So so what the risk is, again, just delay, and and that's what the government is trying to avoid with the national lithium industry. The benefits is to speed up the the the process, not only our projects, but the country as a whole. We think, and we've said it publicly, we're best positioned for both things, for show an early win, the government sees us as a low hanging fruit of a success collaboration with the government and the public sector and the private sector along with the communities and and then also to develop their projects.

52:56 So the likely worst case scenario is delays. The resource is there. The knowledge is there, and I don't think that's what the government is is trying to do is completely the opposite. Perfect. Thank you very much, Aldo. Steve, can you tell us about your resource upgrade schedule and pilot production schedule as well? Yes. Well, at Laguna Verde, you've seen the results of the drilling have been declared, and that's being put into the resource modeling by our complement person and geologists. I would expect that that resource upgrade report should be complete during the course of this month. So by the end of June, I would expect that resource upgrade for Laguna Verde.

53:46 At Francisco Basin, we're still finishing off the the last hole. We're already doing sampling of the holes that have been completed. Those samples need to go to the laboratory that tends to be a bit of a slower process. But probably sometime during by the end of July, certainly in the third quarter this year, we will have a resource upgrade at Francisco Basin. The DLE pilot plant is still in fabrication in Belgium. The latest date that we have is scheduled for delivery during during August. So probably late August, early September, together with the sun resin commissioning team, we'll be commissioning that that pilot plant and starting to to to use it.

54:40 We do have winter almost upon us. It becomes very difficult to work up at altitude, so we're already taking large bulk samples of of brine to feed that pilot plant when it is constructed at the lower elevation in Kopiopo. So probably from September onwards, we'll start to get results from that from that pilot plant. Perfect. Thanks very much, Steve. Aldo, I know you have touched on this, but if you could just provide an update on the position with the Chilean government, and as much color as you're able to share on direct discussions with the relevant government representatives on the question of any potential change to the company's ownership structure, etcetera.

55:28 Well, there'll be again, there'll be no company ownership structure change if we bring a project as much as we we're thinking of the future strategic partners that that that will engage at the end of this year once we've completed the PFS and on, it'll be at the project level. And and there's there's not any any change coming up. The government were very low obedient country, and and all the contract contracts are always respected. We have free trade agreements with 85 of the world's economic economy. What's the the some color that I can provide? Our biggest shareholder, Regal Funds represented by the fund manager, and that's a public news in in LinkedIn and so on, came to meet with the invest Chilean, the highest authority on the mining ministry, the the the the ministry herself.

56:22 And he was giving ample securities of of the the Chilean government going forward, speeding the process, allowing us to keep the company as it is, and, again, sign will create incentives. What type of incentives? And and is speeding the permitting. It's building infrastructure, is bringing in a separate conversation their Salars in conversations with us. So so, yeah, again, there's no potential company ownership structure. If they come, they'll come at the project level. And, again, a minority position and and based of what they can bring and and how they pay their way into whatever percentage we agree if we agree to that.

57:08 We we can go on our own. Again, we publicly announced that we'll wait and see what are the incentives and and then go forward. We've been talking for years and more more since we started, and that's part of our success with all the permitting until now, drilling and hydrological work, metallurgical work, etcetera. But more intensively over the last six months when they they started this task force that unveiled the national lithium policy that we knew how it will came out. They didn't knew how it will be presented and how it will be taken around the world, but that's the importance of going out in conferences and and and conventions, as Steve mentioned, and I've been part of that importantly. Perfect. Thank you very much. Steve, some resin has some resin has DLE plants installed and being installed in both China and Argentina.

58:03 Have you visited those? And if so, what can you share about the relevance of them to CLEANTECH LITHIUM? What can you say about the adaptations to the technology that they implement for varied brine resources? Well, the the the reason we've chosen to work with Sunrisen is exactly this. They do have plants that they've brought into commercial production in in in China. We haven't visited them yet. We're waiting for for visas to to enter China. And our the the cofounder of of CLEANTECH LITHIUM, Jason Bavistock, who's responsible for business development for the company, be leading that visit together with our our metallurgical team. So as soon as those visas come through, they will be going to to visit.

58:50 Fortunately, Jason is also a Mandarin speaker. He spent time working in in in in China and and is fluent. So those communications will be will be good. The the project that Sunrise and we're working on in in China in in in Argentina is was for a 25,000 ton a year lithium carbonate plant for Tibet Summit. Tibet Summit bought a project, the Salar, from from a Canadian company. The the plant was fabricated and delivered into Argentina. They did not start the the construction of that because Tibet Summit did not have the environmental permits in place. They've been working on those, and I understand that they now have them because two or three days ago, there was an announcement that Tibet Summit have awarded a $1,700,000,000 contract to Sunresin to provide two fifty thousand ton lithium carbonate plants and two Salars in in Argentina.

59:55 So they're both moving very, very strongly. SunResin are also working with Ensign Resources at their prime project in Utah The United States, also doing the engineering with with Worley. And, clearly, there's some common grounds to have our discussions with with those other projects. But as soon as we can get into China, our our team will go. Now, certainly, know, various brines have different compositions of of impurities, and that has some effect on, you know, the flow rates through through the the the resin absorption column. There there's really no no change to to the the the resin. It's really the downstream processing and the removal of any impurities that pass through the resin.

1:00:48 There's some changes to to the the the process in terms of the ion exchange to remove boron or calcium or or magnesium that that came through, but not real changes to to to the plant. They're they're they're very flexible plants. Perfect. Thank you very much. And, Steve, the final pre submitted question we've got here is, could you please confirm your ASX listing date? We need to complete all these technical studies, which is the resource upgrades at Laguna Verde and and Francisco Basin. Our timing for that is looking like end of end of July. All that work has to go into an updated competent person's report, which is part of the the prospectus of the ASX.

1:01:37 So the best view that we have is sometime sometime in August is our our target listing date. Perfect. Thank thank you very much for that. And thank you for dealing with those pre submitted questions. And as you can see, we have received a number of questions throughout today's live presentation, and thank you to all the investors for submitting those. Aldo, could I just hand over to you to read out those questions and give a response when it's appropriate to do so? And I'll pick up from you at the end. Thank you. This is the first question by Miles. I'll I'll take him. Actually, I've been reading it. He could you please summarize again what was meant by sale incentives linked to minority state participation with nonstrategic lithium developments like us? Is the government decree expected, or this is his CLEANTECH state negotiation around the the Laguna Verde sale, which is now expected soon?

1:02:28 There's many parts of the question. Some of the incentives, again, is a speeding processing, is is I mean, sorry, permitting. It's it's also what they can bring into the project. And and another incentive is actually this contract. It's a there's not a decree. The decree has some timelines and and how how a how a sale goes forward. We actually presented ourselves at the end of the last government, and then the new government, when they came in power, told us to kindly to take them out so that we'll come out with a national lithium policy. The the this this sale, you basically propose a contract. They they suggest that you take it along the the sale that has, and it's a racketed scheme.

1:03:14 So you can agree also less taxes as the government is involved. There's various things that you can agree. And and and, yeah, we expect this soon. How soon? Can promise a date. I can tell you all the conversations we've had. Any path forward into a sale of any contract with the government is as you all might think, is to have an NDA, is to have an m m o MOU of an memorandum of understanding. An MOU was the draft then for a final agreement. And we're working on all those things, and and, hopefully, we can tell the market about this in a in a rightly manner soon. How soon? Don't know exactly, and I can just tell you that. I might might can give you an educated guess. I don't think it's it's appropriate.

1:04:07 So next question is is to Steve. I don't know if you wanna read it to from James. Steve said in the interview he wants to do all three projects together to see what resources we have. Will that mean the drill rigs will stay at Yamara if the results are good? And if so, Aldo said in another interview, they would have to raise money to do the drilling. Yeah. Let's say, but before we want to to really engage with with strategic partners, it's important to know exactly what we what we have. And so clearly, having done the the resource upgrades on both Laguna Verde and Francisco Basin, we're in a very good good good position. Now clearly, if we get a good result at at Yamara, we will want to expand that into a full scale drilling program, which is at the moment un unbudgeted.

1:05:00 We do have the ASX listing coming up in August, and we are required to get a minimum of 200 new shareholders in Australia. So we always have to do some limited capital raise. Following on from the prefeasibility study of Laguna Verde, we do need to get into the full DFS, the EIA, the PFS on on on Francisco Basin. We're starting to develop the budgets for what we will require to do that work through into 2024, and also making an estimate of what a drilling program in Yamara will look like.

1:05:46 And the timing for raising those funds during the ASX listing is the most reasonable time to actually do to do that. Quite what we will do in terms of of capital raise at the time depends on what our share price is doing at the time as well. Yeah. Yeah. I think you answered the last next two questions about Jamara. Well, Jamara, well, we are in Jamara by James. There's there's two more below. Yeah. Steve, I don't know if you addressed completely. Or Yeah. Yes. I I think I've I've already answered those. Okay. And then the And and for the for the ASX listing, have you instructed an adviser?

1:06:33 Yes. We have our our joint brokers, Canaccord Genuity, and Fox Davis. We'll be leading that. We We have have Canaccord out of the the Perth office is is is responsible for all the preparation work. We've engaged lawyers, Alan's in Perth for that. We've engaged the company sec company secretary, so we have all the all the professionals working in in Australia. The competent person is the same that did the competent person's report for AIM, that's Montgomery and Associates, so they they know the project very, very well. Yeah. There's a question here I'll take from Robert. What is the risk of Italian government nationalizing our company? None.

1:07:20 The the the again, there's no talk of nationalization, no intention of nationalization. You can take the copper industry as a as an example. I don't know. Fifty years ago, it was Codelco was created through a nationalization, and then the the country developed since then many, many times more the the the copper in going into into into production and producing, and Steve is part of those two large projects, Escondida, and there are many others. And and when this came out and the news was taking nationalization again is the contrary to that is the country opening state owned to private private collaboration. The the the whole the whole government, the president included, and the the main speak person, etcetera, etcetera, talked about it. We have 85% of the of the of the free trade the the world's economy in free trade agreements.

1:08:18 The the the drafting of the new constitution agrees on 12 rules of engagement, and the draft that came out complies with all of them and much more of of the state. Very controlled. You need four seventh of the senate to to give budget to a company of the state, and there's not many. We're Chile is dry by the private sector. And and there's it won't happen ever. There's no intention. The public sentiment is all against it. So so we we would like to see as and and that's the the intention of a national lithium policy. New projects coming to into into production like ours and then taking a lead in the world in the in the direct I mean, in the lithium production with green credentials along with renewable energy. None.

1:09:09 No. The question by Edward is the current market cap is around £52,000,000. What value will you ascribe to Yamara currently? Will it be fair to say it's worth around 1 to £2,000,000? I think it's too early to say any any of that. We really need to see the depth of the aquifer, the grade, and the pumping test and all those things that will come into your resource and then scoping study and EPFS, the same route that we're doing with the other projects. What are the main challenges have faced in the company? The fundamentals of our projects is resource. It's the technology. It's the ability to manage the project. It's the the permitting into production and the and the the the financing.

1:09:59 And we've addressed all three through this through the presentation. You can see there the the the summary of of everything. Everything has challenges. The the the exact resin and and and and process to process the brines differently around the world. And that between our two brines, even though they're very similar and similar to the ones in Argentina, there's differences. The bringing the people with the knowledge forward is something we all every day, we have challenges when we're hiring or we're having advisers to be to be, contracted. Yeah. There's there there's challenges, but not not not nothing that will stop the project going forward. And you're add something, Steve, to that?

1:10:49 No. I I I think the the the the two main areas for, you know, for a project is is getting community support for a project. We've seen lots of projects in places places like like Peru get stopped because companies did not get the the community support. So the work that Aldona's team in Chile is doing is is vitally important at making sure that the community is fully behind the the the project. So that's that's essential. The second part, when you're developing any large project, it's it's creating the the operating team that's got the the capability to execute the the project. We've done tremendous work in the course of of the last year, going from two people on listing in in March to an operating team of of 30 today, handling these various studies.

1:11:47 And during the course of the the next eighteen months, it's developing the team even more to have the ability to manage the the construction and the operations. So it's community support and permitting, and it's developing the execution capability for for the project. There's more questions about Yamara. What salinity readings were obtained on the first Yamara? Well, water samples just can't because we have it's not in the public domain, but, there's indications of salinity. While we drilled in in all these three locations, you you do a TDS, a total dissolved solids, and and before you send it to the lab, sometimes it's it's it's mixed with the biodegradable mud.

1:12:34 And I can tell you that we know a lot about drilling and then because they're the only ones doing it for the second season. And the few samples of salinity because we we went to drill much more are encouraging. And that's the same question by Miles about the the success of Jamara. We have to see the grades, and and that's very important. It's an early stage. We're optimistic because of the size, because of the encouraging geophysics, and because we just started to hit the salinity, then we had oil we had gas. And so we have to try it again. I think this question from calling is to you, Steve. The comments about European offtake. Yes.

1:13:21 Well well, clearly, EU and and The United States now want to lessen their dependence on on China now for now for for batteries and for those materials going into in into batteries. What's tending to to happen, we're now seeing Chinese investment going into The United States and into the EU to develop battery plants in those locations. So there doesn't appear to be any desire from The US and the EU to prevent Chinese participation in those battery plants. It really wants to get the security of supply into their own areas.

1:14:07 So working with a Chinese supplier of of engineering and process equipment, I don't think there's any risk of of that being prevented. You know, China's working and delivering all sorts of products right across the the the world and will continue to do so. We have looked at other resin suppliers apart from sun resin, and we continue to do so, and we'll do so in in the future. There's there's nothing in our relationship with sun resin which which prevents this. Now clearly, when we do go to the the point of having erected a plant by by sun resin, we can use sun resin's resin or another resin if it proves to be developed as a better resin. So we are completely open at being able to use whatever providers that we prefer.

1:15:07 Yes. The question of where do you see the company valuation in twelve months? Are you interested in a strategic corporate invest investor from KSA? If so, get in touch. We'll we'll take the the data here. You can go to our the announcements of our public reports of our brokers, Canaccord and and Fox Davis. We just can give you company evaluation. It's eighteen months more than 12, and it's in the range of $5.40 p. That's 10 more times what we are now in the case of Canaccord and and a little below that 10% below that that number by by Fox Davis. I'm not counting Yamara. That's just counting Francisco Basin and Laguna Verde. Yamara, again, is too early. And and, yeah, we'll we'll write the number that that and you can reach us to link it in or to our website too if if, yeah, we'd like to talk. Again, we'll engage in more serious conversation at the end of the of the year.

1:16:06 Steve answered this question, more or less, does sun resin have the capacity to supply the quantities you require or is likely to be a constraint there? The largest resin producer of the world. 70% of the they produce the dressing of 70% of the apple juice in the world that helps you an organic resin that helps you to have that color. If you produce apple juice in your house, it will come with different color, the one you're buying on the stores, and they produce that. Again, we're looking at different alternatives. The importance is world class provider that can provide the same resin that we specify and that we we want to go forward. Then we go the gas was discovered in one of the trials. Was it hydrocarbon? The the the gas has a it was a very to close the well and everything, we have to to study it and everything. We again, we haven't disclosed, but it's just shallow shallow gas, the the origins and everything. We we just, again, can't disclose, but there's not significant it's not a business there as we see it right now. We'll we'll see if we find that again. Hopefully, not for the for the purpose of the exploration that we're doing on this on the new on the new on the new, well.

1:17:21 Do you reinject above or below the extraction point? Yeah. No. We we we reinject back in the subsurface aquifer. We don't need to go all the way down. This this is in in another part of the basin where the the there's not brine almost at all. I mean, not brine, there's not a lithium at at all, and the brine is a lot more or less would let less dissolved solids. And that's where we're reinject within the subsurface aquifer. Not likely at the extraction point, which is more closer to the to the bottom. But that, again, is without the proper hydrological model that will come in the stage of the PFS with more detailed engineering, could answer that better.

1:18:10 Then he says, oh, thank you for the great communication, Aldo. My father was an avid mountaineering. Oh, I'm sorry. He died climbing Gashapur to a beautiful and very hard mountain in Pakistan. You hold 200,000 shares of the company, and you give me very good feeling with your philosophy and the way you guys move forward. I guess my question will be understanding all correctly. Okay? Is there a chance that Chile might ultimately deny you the mining rights itself? No. No. They can't. They can't deny it. They can postpone it. And and then and that's exactly the contrary of what they've been saying, both to bring investors and to develop the lithium space. What they've been saying is you have to write ESG credentials, and we tick them all. Actually, part of the national lithium in policies influenced by our work.

1:18:58 So thank you. Sorry about your dad in to one of the 8,000 meter mountains and a very hard one in Pakistan. If some residents are fabricating and providing scale up service for large capacity expansions for Tibet Summit, will they have enough bands bandwidth to work with scale and clinic, Hansen and others? Yes. Yeah. Again, they're a big, big company. They it took them only five months from from the purchase order from Tibetan Tibet Summit into delivering a 154 containers to to the project in in in Argentina. And now they have two more. Yeah. It's it's a it's a it's a modular process. So it it it you just repeat the same modules over and over again. It's not like you need to build it.

1:19:49 If it's 20,000 or 70,000, it's it's more of the same. So, yeah, they're a big company. And, again, that's part of the the machinery. The the resin, it's it's it's it's another question that we've been answering that. What kind of staffing support will SunRestine be providing during operation of the demonstration plant that you'll be installing later this year? What length of timing testing do they anticipate, and what will be the testing before being able to engineer the unique direct lithium extraction facility to address your particular impurities? We were working I'll answer the last question. Three in three ways with them. One, they've doing been successful piloting with their resting and our brine in China in their labs. We've been working with their machinery in our facility to answer that too. And now we're also working with their just installed pilot plant in Salta in Argentina. We just sent Brian there. We're also gonna be testing.

1:20:47 That will come soon. The the they they will provide staffing for the for the initial construction, small. We we wanna have some hundreds of of of contractors constructing the the plant, and then they will supply a small number of them to to to both install it and teach us how to operate. Chile has one of the most highly skilled technical persons in the world. It's the headquarter of mining in the world. It's here. My dad worked there for many, many years. The the head of of the of the Mitsubishi Group of on mining who has a 40% of Mitsubishi's revenues here, and many other companies. And and and Chile does a lot of engineering for mining projects around the world. There's a lot of technical capacity. We have people from SQM, all the working with us. DLE is just a portion. It's just a resin and multivalve system.

1:21:44 There's other things as reverse osmosis, force osmosis, the sodium car lithium sodium carbonate with sodium carbonate. And and all those things are known and been happening for many years, not only in the lithium industry and others. There's not much need other than the installation and the and the and the operation. We're actually operating part of that in in just a small lab scale, and we're gonna be doing it. So we're very optimist not optimist. Our work is is giving assurances that we'll do it right. That's the last question. Aldo, Steve, thank you very much for that. You've been very generous with your time and actually managed to answer every single question from investors. And of course, the company will review all the questions submitted today, and we'll publish those responses out on the investor meet company platform.

1:22:36 But just before redirecting investors to provide you with their feedback, which is particularly important to you both, Aldo, could I just ask you for a few closing comments? Yeah. I think three things are important. We again, we have this green low emission lithium production, reducing directly extraction in a leading mining jurisdiction as Chile. We have a board and management experience of delivering projects from early exploration to production, and and Steve kinda assess to that. So it's a very unrivaled opportunity to invest in this undervalued lithium opportunity and encourage you to do so. For the ones who are already in, thanks for trusting us, and and we'll be delivering more news and and keep delivering going the process forwards and and for the other again to invite them to invest. And thanks for your time, all of you.

1:23:31 Howdy, Steve. Thank you very much for updating investors today. Could I please ask investors not to close the session as you'll now be automatically redirected to provide your feedback in order that the management team can better understand your views and expectations. This will only take a few moments to complete, but I'm sure it be greatly valued by the company. On behalf of the management of CLEANTECH LITHIUM PLC, we'd like to thank you for attending today's presentation, and good afternoon to you all. Thank you.