Quarterly Report - Q4 2023

The year 2023 was a challenging period for the Company, both in terms of raising essential development capital and in selling silica. However, this position changed during Q4 with both a conditional investment deal in place with London-based resources investor Vision Blue Resources and a rebound in silica sales on the back of the Company’s sustained efforts. As we go to print, sales volumes have firmed considerably.

The Company commissioned the build of two lithium-piloting assets during the period. The fabrication of both is now complete and the preliminary processing of initial samples of American lithium-bearing brines has commenced, in preparation for site deployment. An initial site deployment contract has been signed, with others currently under discussion as we prepare to widely showcase our direct lithium extraction (DLE) technology across North America through 2024.