Zero Carbon Lithium Project update

Having today announced that its sorption-demo plant was now under construction, Vulcan Energy Resources (FSE | ASX: VUL) also provided updates on other progress at its Zero Carbon Lithium™ Project.

VUL says its lithium hydroxide production Demo Plant, (CLP-Demo Plant) is also progressing and remains on track to start commissioning in late Q1 2023.

The company also provided updates on an upcoming 3D seismic survey in the Insheim license area with seismic teams mobilising to site this week. The survey, surrounding VUL’s existing geothermal operations, will lead toward an expanded development plan.

VUL also advised that it has received Preliminary EIA approval — its second second positive environmental approval — for its Taro license to drill wells for geothermal energy and lithium.

As outlined in our VUL Investment Memo, the key objective that we want to see the company achieve is completion of the DFS.

VUL says the DFS for Phase 1 of the project is progressing and is likely to be completed in Q1 2023. It is also working to provide an updated PFS for Phase 2, ideally completed at the same time.