Trading Volumes Surge for Allied Copper (TSXV: CPR, OTCQB: CPRRF) On Significant News Drop
Big news today from Allied Copper (TSXV: CPR, OTCQB: CPRRF) and its wholly owned subsidiary Volt Lithium as they announce bench test results from their proprietary DLE process for production Lithium from a Oil Field Brines.
The company also announced their intent to begin pilot production this fiscal quarter.
This is a major stepping stone toward Allied realizing its commitment to bring necessary green energy resource assets into production in the very near term.
The full press release is linked below, but first here are some key take-aways from today’s news:
- High recovery rate of lithium using proprietary DLE technology (93% recovery rate)
- Provides a strong foundation for pilot production
- Successful removal of 99% of contaminants from oilfield brines using proprietary oilfield brine treatment system
- Ensures high purity levels required for salable lithium
- Pilot project equipment already bench tested
- Ensures continuity and consistency of results
- Intent to commence pilot production by Q1 2023, demonstrating confidence in the technology and readiness to move forward with production
- Independent verification of results by Sproule Associates
- Adds credibility to the company’s claims and gives investors confidence in the results
- Proprietary DLE technology provides a significant competitive advantage
- Ensures the company retains full control over the extraction process
- No value can be siphoned off by an outsource vendor
- Partnership with Cabot provides:
- Ready access to a source of brine
- Elimination of the need for additional permitting
- Makes the path to production less capital-intensive and faster
- Positions the company well to capitalize on the growing demand for lithium
- The company’s hydrocarbon wells owned and produced by Cabot Energy (a Friedland backed company) produce a 98% water cut
- Water use agreement is in place to utilize the produced water
- Company shares operating costs with Cabot and receives a royalty on hydrocarbons produced
- Volt’s treatment process removes 99% of contaminants
- Reduces CAPEX in the concentration circuit and improves lithium recoveries
- OPEX significantly lower when compared to management reviewed peers
- Media used by Volt for the ion extraction process is market leading, again reducing OPEX significantly against management reviewed peers
- Volt’s ability to monetize the estimated 78bn barrels of lithium infused brines is de-risked by the testing and refining of the process over 12 months with partner Sterling Chemicals and Camber Technology Corporation
- This is a major advancement for Canadian junior lithium brine E&P
- Significantly improves speed to market for both pilot and commercial production
Press Release: VOLT LITHIUM ANNOUNCES 93% LITHIUM RECOVERIES FROM ITS PROPRIETARY DLE TECHNOLOGY
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