REG - Clontarf Energy PLC - South American Brines Progress

Clontarf EnergyAnnouncement

05/02/2024 07:00

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RNS Number : 9412B  Clontarf Energy PLC  05 February 2024

5(th) February 2024

 

Clontarf Energy plc

("Clontarf" or the "Company")

 

South American Brines Progress

 

Clontarf Energy plc (AIM: CLON), the energy company focused on lithium brines,
and petroleum projects, is pleased to update shareholders on progress:

 

Highlights

 

·  The Bolivian State Lithium Company ("YLB") formally launched, on 26(th)
January, its second Call for Bids ("convocatoria") over seven priority salares
(salt pans) in Potosí y Oruro. This ambitious bid round targets much of the
world's large and medium-sized salares and includes scope for Direct Lithium
Extraction proposals. This will provide a firm legal basis for work, under
Bolivian laws.

 

·   This major convocatoria applies to all commercial evaporite products,
with a special focus on battery grade Lithium salts.

 

·  Clontarf has been encouraged to submit bids on further development of
the key Uyuni, Coipasa, Pastos Grandes, Capina, Cañapa, Chiguana and Empexa
salares. These are the priority salt pans identified by Clontarf's technical
team in 2018. The team has conducted sampling and initial tests on most of
these salares.

 

·   Initial laboratory results from work on the official YLB samples
provided recently were highly encouraging. Lithium levels were high in the key
samples, while impurities are not expected to trouble our Joint Venture's
Direct Lithium Extraction process.

 

·    Accordingly, the Joint Venture's technical process, and key
components, especially sensors and membranes, are being fine-tuned and
upgraded in accordance with brine composition, including impurities levels.

 

·   For best results, this involves further improvements in membrane
design and construction, as well as fine-tuning the planned plants' layouts.

 

·    Clontarf's current plan is to offer to deploy a test-plant to one or
more salares by the end of 2024.

 

·   The start of operations at the Texas pilot plant is now scheduled for
Q2 2024. Timeframes have been adjusted for better results, over longer
periods, to fulfil possibly higher future customer requirements. Key
commissioning staff are being mobilised, and the pilot plant is being
assembled.

 

·  Clontarf is also actively participating in the priority European Union
("EU") lithium initiative. This included a European Union delegation to
Bolivia and Argentina during November and December 2023, which included
several site visits, as well as high-level official meetings. This initiative
may lead to additional cooperation agreements and may benefit from EU support.

 

·   Further updates will be provided, as appropriate, in accordance with
necessary clearances from the authorities.

 

 

David Horgan, Chairman, commented: "The new convocatoria, or formal Call for
Bids, gives both sides a legally-binding basis for exploration and development
agreements in joint venture with national authorities. For Clontarf, this
represents a vindication of years of work since 2018.

 

"Similarly, the EU Commission's Critical Minerals initiative is something we
have argued for since 2008. The high-powered EU delegation to Bolivia and
Argentina during late 2023 studied how critical South American brines are to
supplying adequate volumes of premium clean battery-grade lithium. Follow-up
discussions are scheduled during February 2024. Clontarf will participate
vigorously in this initiative.

 

"Our team is active in South America, and elsewhere.  We are keen to
accelerate work in accordance with local regulations. Our long-term plan is
developing as hoped.

 

"The battery-grade Lithium products industry will evolve rapidly over the
coming months. The future has arrived."

 

 

This announcement contains inside information for the purposes of Article 7 of
Regulation (EU) 596/2014.

ENDS

 

 

 

For further information please visit http://clontarfenergy.com
(http://clontarfenergy.com) or contact:

 

 

 Clontarf Energy                    +353 (0) 1 833 2833

 David Horgan, Chairman

 Jim Finn, Director

 Nominated & Financial Adviser      +44 (0) 20 7409 3494

 Strand Hanson Limited

 Rory Murphy

 Ritchie Balmer
 Broker                                     +44 (0) 207 399 9400

 Novum Securities Limited

 Colin Rowbury

 Public Relations                   +44 (0) 207 138 3206

 BlytheRay

 Megan Ray
 Teneo                              +353 (0) 1 661 4055

 Luke Hogg

 Alan Tyrrell

 Fia Long

 Alan Reynolds

 

 

 

 

 

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