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Zinnwald Lithium Plc (LSE:ZNWD), a German-focused lithium development company, has announced its interim results for the period ended 30 June 2024, showcasing significant advancements in its lithium project.
Key Highlights
Mineral Resource Estimate (MRE) Updates
Zinnwald has successfully updated its Mineral Resource Estimate, reinforcing its position as the second-largest hard rock lithium project in the European Union. The latest assessments have notably enhanced the Measured category, indicating a more reliable estimate of resources.
Processing Advancements
The company has advanced its processing tests in collaboration with Metso. The tests are yielding encouraging results, suggesting potential improvements in recovery rates, operational efficiency, and reduced environmental impact.
Project Expansion Plans
Zinnwald is exploring phased expansion of its project, starting with Phase 1, which aims to produce 16,000 to 18,000 tonnes per annum (tpa) of battery-grade Lithium Hydroxide (LiOH). This represents a significant increase from the previously estimated 12,000 tpa in 2022.
Government Support
The company has received robust expressions of support from both Federal and State Governments in Germany, including an invitation to formally apply for federal grant funding, strongly endorsed by the State of Saxony.
Community Engagement and Team Strengthening
Zinnwald has taken steps to strengthen its team in response to increased project activity. The company has also organized community events and maintained regular communication with local stakeholders. Additionally, Zinnwald has engaged InvestorHub to improve communication with its shareholders.
Post-Period Developments
Since the end of the reporting period, Zinnwald has made significant strides:
- Pre-Feasibility Study (PFS): The company has agreed to develop a PFS to evaluate the potential for a Phase 2 expansion, alongside various technical trade-off studies.
- Progress on Workstreams: Workstreams are progressing well, with several reaching Feasibility Study accuracy and others nearing completion at the PFS level.
- Strategic Designation Application: Zinnwald has applied for the designation of its project as 'strategic' under the European Critical Raw Materials Act (CRMA), with a decision anticipated in December.
- Engagement with Government Officials: A productive meeting was held with German Chancellor Olaf Scholz during his visit to the Saxon Mining Authority, further highlighting the project's significance.
