Lithium Australia granted Patent for revolutionary Li extraction technology LieNA®; stocks spikes 23%

Australian mineral exploration company, Lithium Australia NL (ASX:LIT) is engaged in the acquisition and development of lithium projects.

The Company has developed two disruptive proprietary lithium extraction technologies (SiLeach^® and LieNA^®)as it aims to deliver advanced componentsfor the global battery industry and for stationary energy storage systems within Australia and sustainably close the loop on the energy-metal cycle, thus creating a circular battery economywith recycling of old lithium-ion batteries (LIBs) intrinsic to this plan.

LieNA^® Flowchart (Source: Company Website)

LieNA^®Patent received From IP Australia

On 6 April 2020, Lithium Australia informed the market that the Company has been granted patent from IP Australia for its revolutionary proprietary lithium extraction technology LieNA^®, which significantly improves metallurgical recovery of lithium from fine and contaminated spodumene.

The Commissioner of Patents at IP Australia has provided Patent Number 2017306576 for LieNA^®. In Australia, as in most other countries, standard patents last about 20 years, provided periodic renewal fees are paid annually. So, this patent sanctions the Company with long-term legal protection and control over its invention for up to the next 20 years in Australia.

The receipt of the ‘Notice of Acceptance’ from IP Australia for Lithium Australia’s LieNA^® patent application, filed in August 2017, was received in February 2020, a vindication of the value of the Company’s intellectual property.

Also, Read: WIPO Publishes Two Lithium Australia Patent Applications; Stock Zooms Up 25.81%

Proprietary technology - LieNA^®

Presently, hard-rock lithium production has a major sustainability issue, which is poor recoveries of lithium from conventional spodumene beneficiation, from the mine onwards to the production of lithium chemicals. These recoveries can be as low as 50% due to the specification constraints applied on concentrate offtake by the current generation of lithium chemical producers in the country.

So, the LieNA^® process (which, importantly, does not require a roasting stage) not only enhances lithium recoveries but also minimises the footprint of mining operations, lowers impacts on the environment, hence providing a sustainable method of processing.

Furthermore, LieNA^® process comprises caustic digestion and acid leaching after which the desired lithium chemical is recovered. Without the need for roasting, LieNA^® becomes more environmentally sustainable. LIT and ANSTO (the Australian Nuclear Science and Technology Organisation) have so far conducted extensive test work on LieNA® and the final recovery of lithium has been as high as 85%.

The benefits of this processing technology are huge including a pathway for processing of fine and contaminated spodumene that would otherwise be dumped as waste. In Fact, LieNA^® is currently being discussed as a subject for a co-funded government research project to ensure and improve ESG (environmental, social and governance) performance of lithium production.

The Company is also actively working to commercialise its proprietary LieNA^® technology for better recovery of lithium from spodumene, the most common hard-rock source of lithium for the production of critical battery chemicals.

Stock Information: With a market cap of ~ AUD 22.79 million and ~ 584.27 million shares outstanding, the LIT stock is trading at AUD 0.048, edge dup 23.077% on 6 April 2020. Over the last five day, the stock has delivered a positive return of 5.41% .

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