September 2, 2021 (Investorideas.com Newswire) Commonplace Lithium Ltd. shares traded 25% increased after the corporate reported that set up work at its SiFT lithium carbonate crystallization plant close to El Dorado, Arkansas is now completed and that it expects absolutely built-in operations to get underway this month.
This morning earlier than U.S. markets opened for buying and selling, lithium improvement firm Standard Lithium Ltd. (SLI:TSX.V; SLI:NYSE American) announced “an replace on the set up of the SiFT lithium carbonate plant at its flagship South Arkansas mission and different associated developments.”
Commonplace Lithium reported that it has now completed all set up work on the SiFT lithium carbonate plant, connected the key connections to the present plant, and constructed a brand new weatherproof enclosure. The corporate indicated that moist commissioning operations on the SiFT Plant are at present energetic and said that it expects to start absolutely built-in operations throughout September.
The agency advises that it additionally put in a novel osmotically assisted Excessive Strain Reverse Osmosis (HPRO) unit on the demonstration plant in El Dorado, which is up and operating and is presently being built-in into the plant’s course of movement. The corporate defined that the unit’s major goal is to pay attention lithium chloride produced by the LiSTR Direct Lithium Extraction (DLE) plant for later conversion to lithium carbonate.
Commonplace Lithium famous that upfront of the arrival of Hurricane Ida, its Arkansas staff initiated pre-emptive emergency security protocols to safe the plant, gear, and workers on the El Dorado web site. The corporate mentioned that resulting from a shift within the storm’s path it was capable of proceed regular operations with out interruption.
Commonplace Lithium’s President and COO, Dr. Andy Robinson, remarked, “We’re very grateful that our staff and operations are secure and that El Dorado was spared the worst of Hurricane Ida. Our mission execution efforts proceed and, with the ultimate phases of commissioning and integration nearly completed, we are actually within the closing phases of operating the one steady, 24/7 start-to-finish, brine-to-carbonate plant in North America.”
The corporate said that it continues in its efforts to help the El Dorado group and famous that it’s going to be a part of with a number of different firms as a significant sponsor for the twenty second Annual SouthArk Outside Expo! this month and moreover can be a Celebrity Sponsor for the Most important Avenue El Dorado Musicfest 2021 that includes performers Frank Foster, Ice Dice, and others.
Commonplace Lithium Ltd. is a Vancouver, B.C.-based lithium improvement and manufacturing firm. The agency listed that it’s targeted on testing and proving industrial viability of lithium extraction from roughly 150,000 acres of permitted brine operations at its “flagship” Lanxess Undertaking in southern Arkansas.
The corporate suggested that at Lanxess south, it has put into operation a first-of-a-kind industrial-scale direct lithium extraction demonstration plant that employs Commonplace’s proprietary LiSTR expertise to extract lithium successfully and optimally from tail brine. The agency said that it is a a lot improved and extra environmentally pleasant course of because it eliminates the necessity for evaporation ponds and considerably reduces processing time from months to hours and boosts lithium restoration yields and economics.
As well as, the corporate is engaged on creating lithium assets at a second property in Arkansas masking round 30,000 acres of brine leases in addition to about 45,000 acres of mineral leases within the Mojave Desert in San Bernardino Co., California
Commonplace Lithium started the day with a market cap of round $744.4 million with roughly 144.3 million shares excellent. SLI shares opened 11% increased in the present day at $5.75 (+$0.59, +11.43%) over yesterday’s $5.16 closing worth. The inventory traded in the present day between $5.70 to $6.60 per share and closed at $6.60 (+$1.44, +27.91%).
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