Quarterly Report - Q1 2024

2024 has started very positively, with our best silica-sales quarter to date and the completion of the design and construction of our new North American direct lithium extraction (DLE) pilottesting assets, comprising a pre-processing unit and a DLE Plant, both of which are mobile.

As we go to print, both plants are on a site in Texas testing the oil-formation waters of a major oil company. The latter marks the start of an ambitious North American lithium pilot testing program that is intended to showcase our lithium recovery technology, which we anticipate will run until around October.

During the quarter, we also undertook discussions with several geothermal power operators from Asia and Europe who have expressed interest in the benefits of Geo40’s silica extraction technology. We look forward to potentially undertaking site testwork with one or more of these parties as the year progresses, with the possibility of moving to the next stage under a licence-based model.