Critical Elements Corporation (TSX-Venture:CRE) shares sprang to life Monday, after the Montreal-based company trumpeted the results from its pilot plant program recently completed at the Outotec Research Centre.
The programs successfully converted a substance called spodumene concentrate from the Rose Project into battery grade lithium hydroxide using a thermal leaching process.
These results provide Critical Elements the flexibility, in conjunction with lithium carbonate and spodumene production, to meet all needs of cathode, battery and electric vehicle producers.
The pilot plant conversion process from spodumene concentrate to lithium hydroxide demonstrated strong results with extraction rates of 93%.
The extraction rate bettered the worldwide average of between 70% and 75% in what is accepted as an industry standard. In addition, the pilot plant produced battery grade lithium hydroxide with 99% purity.
CRE shares brought cheers from investors starved for favourable news after last week’s heavy losses marketwide, gaining two cents, or 2.9%, to 70 cents, on volume of more than 96,000 shares
