PUR’s lithium pilot plant to be switched on in Q1-2024?
Our Argentinian lithium brine Investment Pursuit Minerals (ASX: PUR) expects to have its pilot plant operating very soon…
Earlier in the year PUR acquired a pilot processing plant that has produced battery grade (99.5%+ purity) lithium carbonate in the past.
PUR paid ~US$365k for the plant, which had a replacement cost of ~US$3.65M.
When it was operational the plant had capacity to produce ~750kg per day (100 tonnes per annum) of lithium carbonate equivalent.
The significance of getting a plant onto its project so early is that PUR can start generating revenues at a small scale to fund exploration/development of its project AND so lithium carbonate samples could be sent out to potential offtake partners.
The pilot plant also means PUR can start production testing its project a lot quicker than first expected - meaning a condensed timeline to first production.
Today, PUR confirmed that Pilot Plant commissioning and start up works had progressed and the plan was to get the plant back into operation, producing ~250 tonnes per annum of 99.5% battery grade carbonate products.
That would be a production rate 2.5x higher than the plant's previous operating capacity.
PUR expects the plant to be commissioned and ready to start producing in Q1-2024.
Ultimately, the production target for PUR is ~2,000 tonnes per annum within 24 months and 20,000 tonnes per annum within 36-48 months.
To scale up to this kind of production, over time, PUR needs to build evaporation ponds and start pumping its lithium brines to surface.
PUR expects construction on its ponds to start in the second half of 2024 (depending on environmental/regulatory approvals).
(Source)
What’s next for PUR?
Drill program (Q4 2023) 🔄
PUR’s plans to drill four exploration drillholes and one pumping well as part of its first drill program.
PUR had previously said that drilling was expected to start in Q4 this year which gives the company ~2 weeks to kick off the program.
We are hoping that the drill program starts later this year and at the latest in early 2024.
Pilot plant commissioning 🔄
PUR expects the pilot plant to be commisioned in Q1-2024.
Once fully assembled PUR can start producing both battery and technical grade Lithium Carbonate - which can then be sent off to potential buyers/offtake partners.
Interestingly, PUR mentioned in a recent announcement that the company had already received “several expressions of interest for the development of the project inclusive of off-take agreements”.
We are hoping the pilot plant is ready to produce lithium carbonates from the brines that might come from the Q4 drill program, before an eventual scale up in 2024.
