LithiumBank Resources Corp. (TSXV: LBNK) (OTCQX: LBNKF), has announced significant updates to the Preliminary Economic Assessment (PEA) for its 100%-owned Boardwalk Lithium Brine Project in Alberta, Canada. An increase to an impressive pre-tax NPV8% of USD $3.7 billion and a reduction in OPEX to USD $4,588 per tonne LCE per tonne highlights the updated projections.

Enhanced Project Economics

Following the incorporation of licensed cDLE® technology from G2L, the updated PEA highlights a 34% cost reduction and a pre-tax internal rate of return (IRR) of 25%. An annual increase in battery-grade lithium hydroxide monohydrate production is now projected at 34,005 tonnes over a 20-year life span. The use of cDLE® has not only increased lithium recovery to 98% but also suggests a shorter payback period and a signficant step toward sustainable and efficient lithium extraction.

Technological Advancements and Sustainability Efforts

The optimized process employs high-efficiency gas turbines for on-site power generation with the possibility of utilizing hydrogen, which is expected to reduce the carbon footprint significantly. This aligns with the project’s reduction in freshwater usage and highlights LithiumBank’s commitment to environmental responsibility within the resource-friendly jurisdiction of Alberta.

Strategic Technological Licensing

The Boardwalk Project stands to benefit significantly from the newly licensed cDLE® technology, which emphasizes high recovery rates and cost-efficiency, putting LithiumBank in a competitive position on a global scale. Rob Shewchuk, the CEO of LithiumBank, expressed confidence in the project’s updated status and the advantages presented by the company’s strategic decisions.

Overall, the Boardwalk Project’s advancements continue to position LithiumBank as a leader in the North American lithium extraction industry, with the potential for expedited commercial production and significant economic viability for investment.

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