REG - CleanTech Lithium - Update to CEOL Process

Cleantech LithiumAnnouncement

23/04/2025 07:00

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RNS Number : 7637F  CleanTech Lithium PLC  23 April 2025

23 April 2025

CleanTech Lithium PLC ("CleanTech Lithium" or the "Company")

Update to CEOL Process

 

CleanTech Lithium PLC (AIM: CTL, Frankfurt:T2N), an exploration and
development company advancing sustainable lithium projects in Chile, has been
informed by the Chilean Government that the Company's Special Lithium
Operating Contract ("CEOL") application under the simplified procedure for the
Laguna Verde project has been rejected and has not been admitted into the
streamlined process that provides for direct negotiation but should enter a
short public tender process. The Company will be appealling this decision
within five business days in accordance with a procedure set out in the
Ministry's resolution document. CleanTech believes it can meet the criteria
set out by the Government (referring to RNS dated 15 January 2025) and will
provide a further update in due course. Acquiring a CEOL gives the applicant
the right to commercially produce lithium.

Ignacio Mehech, Chief Executive Officer, CleanTech Lithium PLC said:

"We were informed by the Chilean Government yesterday afternoon that our
Laguna Verde application has not been accepted into the streamlined CEOL
process. While not the decision we expected, we will be exercising our right
to appeal within the five-day window provided.

We believe CleanTech can meet the criteria set out by the Government. The
Company has made significant investments in its Chile projects through
extensive drilling campaigns, pilot plant development, and detailed technical
studies, while also building strong, transparent relationships with local
indigenous communities. We have undertaken by far the most extensive resource
evaluation and process development work for a DLE project in Chile, in support
of the Chilean Government´s National Lithium Strategy, and are fully
committed to continuing that work. We will provide a further update once we
receive a response to our appeal."

 

The information communicated within this announcement is deemed to constitute
inside information as stipulated under the Market Abuse Regulations (EU) No
596/2014 which is part of UK law by virtue of the European Union (Withdrawal)
Act 2018. Upon publication of this announcement, this inside information is
now considered to be in the public domain. The person who arranged for the
release of this announcement on behalf of the Company was Gordon Stein,
Director and CFO.

 For further information contact:

 CleanTech Lithium PLC
 Ignacio Mehech/Gordon Stein/Nick Baxter       Jersey office: +44 (0) 1534 668 321

                                               Chile office: +562-32239222
 Beaumont Cornish Limited (Nominated Adviser)  +44 (0) 20 7628 3396

 Roland Cornish/Asia Szusciak
 Fox-Davies Capital Limited (Joint Broker)     +44 (0) 20 3884 8450

 Daniel Fox-Davies                             daniel@fox-davies.com (mailto:daniel@fox-davies.com)
 Canaccord Genuity (Joint Broker)              +44 (0) 20 7523 4680

 James Asensio

 

Beaumont Cornish Limited ("Beaumont Cornish") is the Company's Nominated
Adviser and is authorised and regulated by the FCA. Beaumont Cornish's
responsibilities as the Company's Nominated Adviser, including a
responsibility to advise and guide the Company on its responsibilities under
the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed
solely to the London Stock Exchange. Beaumont Cornish is not acting for and
will not be responsible to any other persons for providing protections
afforded to customers of Beaumont Cornish nor for advising them in relation to
the proposed arrangements described in this announcement or any matter
referred to in it.

 

Notes

CleanTech Lithium (AIM:CTL, Frankfurt:T2N) is an exploration and development
company advancing lithium projects in Chile for the clean energy transition.
CleanTech Lithium has two key lithium projects in Chile, Laguna Verde and
Viento Andino, and exploration stage project in Arenas Blancas (Salar de
Atacama), located in the lithium triangle, a leading centre for battery grade
lithium production.

The two most advanced projects: Laguna Verde and Viento Andino are situated
within basins controlled by the Company, which affords significant potential
development and operational advantages. All three projects have good access to
existing infrastructure.

CleanTech Lithium is committed to utilising Direct Lithium Extraction ("DLE")
with reinjection of spent brine resulting in no aquifer depletion. Direct
Lithium Extraction is a transformative technology which removes lithium from
brine with higher recoveries, short development lead times and no extensive
evaporation pond construction. For more information, please
visit: www.ctlithium.com (http://www.ctlithium.com/)

**ENDS**

 

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