Lithium-focused mining company Standard Lithium Ltd. (TSX.V: SLL) (FRA: S5L) (OTCQX: STLHF) this morning announced its entry into a non-binding Letter of Intent with a non-affiliated NYSE-listed company whereby, subject to execution of a definitive agreement on terms acceptable to both parties and obtaining of necessary consents and permits, the company will design, build and operate a continuous demonstration scale pilot plant adjacent to certain chemical production facilities in southern Arkansas. Per the update, the LOI provides a 90-day period within which the two companies will negotiate a definitive agreement. “The facilities in southern Arkansas where we may build the Pilot Plant are fed by a network of brine production wells in southern Arkansas that access underground brine from the Smackover Formation and transport it via an extensive system of pipelines and related infrastructure,” Robert Mintak, CEO of Standard Lithium, stated in the news release. “In signing this letter of intent and negotiating quickly an agreement for pilot scale testing, Standard Lithium expects to de-risk and expedite the initial phases of resource assessment and project development while realizing significant reductions in both the capital and time associated with permitting and drilling test wells.”
To view the full press release, visit http://ibn.fm/eOVTo
About Standard Lithium Ltd.
Standard’s value creation strategy encompasses acquiring a diverse and highly prospective portfolio of large-scale domestic brine resources, led by an innovative and results-oriented management team with a strong focus on technical skills. The Company is currently focused on the immediate exploration and development of the Bristol Dry Lake Lithium Project located in the Mojave region of San Bernardino County, California; the location has significant infrastructure in-place, with easy road and rail access, abundant electricity and water sources, and is already permitted for extensive brine extraction and processing activities. The Company is also commencing resource evaluation on up to 33,000 acres of brine leases located in the Smackover Formation. Please visit the Company’s website at http://nnw.fm/standardlithium
MissionIRNewsBreaks provide a rapid summary of corporate news that catch the attention of MissionIR. MissionIRNewsBreaks are created by our Team of professional journalists that keep a constant eye on the markets, these posts are designed to inform you on the latest happenings of our clients and other publicly traded companies on our radar. From earnings, acquisitions and agreements to conference attendance and clinical study results, our news breaks keep you up-to-date with the day’s top movers. MissionIR is primarily focused on strategic communications. We have executed countless communications programs to address the needs of companies ranging from start-ups to established industry leaders, gaining valuable experience and the expertise necessary to determine the most effective strategy for any given situation.