Standard Lithium Ltd. (NYSE: SLI) climbed Tuesday, on news surrounding its property in Arkansas. The company, an innovative technology and lithium project development company, reports the positive results of a Preliminary Economic Assessment (PEA) for the Company’s South-West Arkansas (SWA) Lithium Project (the "Project"; previously called the Tetra Project; SLI points to its 20-year mine-life producing an average of 30,000 tonnes per year of battery-quality lithium hydroxide monohydrate (LHM). Operating costs have been projected at $2,599 per tonne of battery quality lithium hydroxide.
SW Arkansas Lithium Project PEA lithium brine resource is updated to consider the potential unitized area of production, leading to an increased total (global) in-situ resource of 1,195,000 tonnes Lithium Carbonate Equivalent (LCE) at the Inferred Category.
COO Andy Robinson commented, "The completion of this PEA for the SWA Lithium Project is an important milestone for Standard Lithium as it begins to showcase the significant potential that is present within the Smackover Formation in southwestern Arkansas. This PEA is the result of a concerted team effort, and we owe considerable thanks to all the team members who have contributed their professional expertise to this study."
This morning’s news release added the PEA and updated lithium resource estimate are based on a unitized area of future potential production resulting in 36,172 gross mineral acres (14,638 gross mineral hectares).
The PEA considers the production of battery-quality lithium hydroxide averaging 30,000 tonnes per annum (TPA) over a 20-year operating timeframe. The PEA also updates the existing inferred mineral resource.
SLI shares leaped 73 cents, or 9.1%, to $8.79.
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