Following the submitting of its preliminary financial evaluation (PEA) for the Raleigh Lake lithium venture, Worldwide Lithium (TSXV:ILC) is now looking for potential companions to advance the venture to manufacturing, the corporate’s chairman and CEO, John Wisbey, defined.
“We’re going to do extra work in direction of getting (the venture) to the following stage,” he stated, including that the PEA pegs the pre-production capital price at C$111.9 million.
“That is fairly some huge cash, so we’re undoubtedly on the lookout for companions for that proper now for the correct phrases, and there are lots of ways in which could possibly be performed,” added Wisbey.
He famous the Raleigh Lake property can be extremely potential for rubidium, which was not a part of the PEA, however presents one other alternative for the corporate.
“Rubidium is closely utilized in … making prime quality optical fiber,” Wisbey stated. “It is received a reasonably excessive market worth so far as we are able to see. So we’re doing quite a lot of analysis on really how huge is the market.”
Watch the total interview with Worldwide Lithium CEO John Wisbey above.
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