Summary.
In spite of the weakened need and the subsequent cost decrease in 2023, need for lithium is still on track to considerably overtake supply by 2030 Numerous countries continue to increase efforts to enhance their domestic materials of lithium and other crucial minerals.
The Canadian Crucial Minerals Technique, for example, develops an extensive structure for the advancement of sustainable, properly sourced domestic products. Beyond that, its objectives consist of supporting financial development, promoting environment action, advancing reconciliation with Native Peoples and neighborhoods, promoting work environment inclusivity and improving worldwide collaborations. The United States Inflation Decrease Act has a comparable goal, with arrangements such as sustainability tax credits and decreased renewable resource expenses.
Through its extremely potential Apollo lithium task in James Bay, Québec, Lithium Universe (ASX: LU7) is well-positioned to take advantage of the anticipated need for lithium over the next years. Québec is quickly becoming a significant location for lithium production, setting the phase for Lithium Universe to possibly end up being a substantial manufacturer not simply for the North American market, however internationally.
A vertically incorporated expedition and advancement business, Lithium Universe is led by the popular lithium advancement veteran Iggy Tan. Commonly considered a trendsetter in Australia’s lithium market, Tan led Galaxy Resources (ASX: GXY), developing it as one of the nation’s leading lithium mining business. Dealing with an extremely skilled group, Tan now intends to reproduce that success with Lithium Universe.
Tan is signed up with by a variety of renowned mining experts, consisting of leading technical specialist Dr. Jingyuan Liu. Liu was accountable for supervising the building and construction and commissioning of Galaxy Resources’ Mt Cattlin Spodumene task in addition to the world-renowned Jiangsu Lithium Carbonate Plant.
The group likewise consists of: Patrick Scallan, a skilled veteran with 25 years of management experience at the biggest lithium acid rock mine worldwide; Alex Hanly, who brings more than a years of experience in capital shipment and functional management for mining, oil and gas, and production; Huy Nguyen, who assisted style and construct Mt Cattlin’s Spodumene plant; and Roger Pover, previous plant supervisor at Mt Cattlin.
Lithium Universe’s method for Apollo is easy: rapidly determine a resource and develop a producing mine to help with the business’s vertically incorporated mine-to-refinery vision. The business is likewise pursuing the facility of a lithium processing center in the area to support operations at Apollo.
An engineering research study on the business’s Québec Lithium Processing Center (QLPH) multi-purpose battery-grade lithium carbonate refinery is underway. Hatch, the business carrying out the research study, has actually completed the style flowsheet and draft website design for the refinery. The QLPH is ranked at 16,000 lots per year (tpa) with a presumed feed grade of spodumene at or around 5.5 percent lithium oxide. The last lithium carbonate item need to be at least 99.5 percent and 99.9 percent grade. Target plant accessibility is 84 percent and target total healing rate for lithium is 85 percent.
Covering over 240 square kilometres, the extremely potential Apollo lithium task consists of 466 claims and is related to a substantial geological dataset. Found in the Eeyou Istchee Baie-James Town in northwest Québec, the home remains in the exact same greenstone belt as Patriot Battery Metals‘ (ASX: PMT, TSXV: PMET, OTCQX: PMETF) Corvette lithium task, which has a first resource of 109.2 million lots at 1.42 percent lithium oxide. Apollo’s tenement plan includes 17 recognized pegmatite outcrops.
Job Emphasizes:
- Job Geology: Apollo screens mineralisation normal of greenstone belts in the La Grande sub-province, with spodumene pegmatites hosted by mafic metavolcanic rocks and pegmatitic granite Vieux Comptoir. Residential or commercial property geology consists mainly of Mesoarchean and Neoarchean invasions.
- Strong Mineral Prospective: Apollo lies 29 kilometres southeast of the Corvette Lithium Job and 28 kilometres East of Winsome Resources’ (ASX: WR1, FSE:4 XJM, OTCQB: WRSLF) Adina Job. It shows comparable mineralisation, magnetism and geology to the 2 jobs, both of which just recently returned exceptionally appealing outcomes:
- Corvette Lithium: 156 metres at 2.12 percent lithium oxide at CV5
- Adina: 107 metres at 1.34 percent lithium oxide from 2.3 metres
The business has actually finished its 2023 summer/fall expedition work program at the Apollo and got all the last soil lab analyses. A drilling method remains in location for 2024, along a significant east-west trending fault shear passage function that extends from the Apollo task to Winsome Resources’ Adina Lithium task to the east. Some prospective targets have actually been produced that might be included into a future maiden drilling program.
Management Group.
Iggy Tan– Non-executive Chair
Iggy Tan, a trendsetter of the contemporary lithium market, was among the very first Australian mining executives to determine the considerable chance within the emerging lithium-ion battery sector when he led Galaxy Resources Limited. Tan is wanting to reproduce that success with Lithium Universe, having actually constructed Galaxy’s Mt Cattlin Spodumene Job and the downstream Jiangsu Lithium Carbonate task. He likewise got the James Bay Spodumene Job in Canada and the Sal de Vida Salt Water Job in Argentina for Galaxy.
When Tan began at Galaxy, the business’s market capitalization was less than AU$ 10 million. It increased to AU$ 2.5 billion when the business combined with Orocobre Limited in August 2021. Tan’s previous experience dealing with lithium go back to the early 1990s when he quickly handled the Greenbushes Lithium Mine and commissioned the very first lithium carbonate plant for Gwalia Consolidated.
Tan has more than thirty years of chemical and mining experience and has actually functioned as executive director for a variety of ASX-listed business. He holds a Master of Organization Administration from the University of Southern Cross, a Bachelor’s Degree from the University of Western Australia and is a graduate of the Australian Institute of Business Directors. He is presently CEO and handling director of Altech Batteries Limited.
Alex Hanly– President
Alex Hanly has more than ten years of experience in capital shipment and functional management for openly noted business within the mining, oil & & gas, and production markets in Australia and Africa. Over the last 3 years, Hanly held the function of president of ASX-listed gold business Polymetals Resources (ASX: POL). He was accountable for the effective IPO of the business, the functional management and the effective execution of the fast-track expedition method.
Hanly has a Bachelor of Mechanical Engineering and Master of Organization Administration specialising in worldwide task management.
Patrick Scallan– Non-executive Director
Patrick Scallan’s substantial experience in the lithium market is an important addition to the LGX board. With over 25 years of management experience at the first-rate Greenbushes Mine, he is a skilled veteran. Greenbushes is the biggest lithium acid rock mine internationally and likewise hosts the highest-grade ore body worldwide. This makes Greenbushes a special abnormality, as no other lithium deposit around the world compares to it.
Scallan managed the mine’s lots of growths, increasing yearly output from 200,000 in 1997 to 1.4 million tpa today, and browsed various ownership modifications throughout his period. He is an expert in acid rock mining and spodumene focusing, with downstream relationships with significant spodumene converters worldwide.
Scallan is likewise extremely knowledgeable in handling regional neighborhood relationships, having actually functioned as shire councillor for almost twenty years throughout his time at Greenbushes, getting his Order of Australia Medal for his neighborhood and city government contribution. His previous functions consist of management positions at Capel and Eneabba Mineral Sands in Western Australia and Western Deep Levels Cash Cow in South Africa.
Dr. Jingyuan Liu– Non-executive director
Dr Jingyuan Liu is commonly considered a leading technical specialist in the lithium market. He formerly held the position of basic supervisor of advancement and innovations at Galaxy Resources, where he was accountable for supervising the building and construction and commissioning of the Mt Cattlin Spodumene Job and the world-renowned Jiangsu Lithium Carbonate plant. Liu likewise played a crucial function in creating the circulation sheet for the Sal de Vida salt water task.
Following his deal with Galaxy, he has actually functioned as an unique advisor to different lithium carbonate and lithium hydroxide jobs internationally, consisting of the Lithium Hydroxide Plant run by Tianqi in Kwinana, Western Australia.
Liu has more than thirty years’ experience in task management, procedure and devices style for minerals processing and the chemicals, non-ferrous metals, iron & & steel and energy markets, both in Australian and worldwide. He was granted a PhD in chemical engineering from the University of Newcastle, Australia and has actually operated in senior chemical engineering functions with leading business such as Hatch Engineering and Metso Minerals in Australia and Malaysia.
He is presently primary innovation officer for Altech Batteries (ASX: ATC), establishing high capability silicon anode lithium-ion batteries.
Gernot Abl– Executive Director
Gernot Abl was formerly a tactical handling director with large experience in company management, operations and financial investment for a few of the fastest growing markets worldwide. After getting over 15 years of business experience, he led the only pure esports play noted on the ASX, Esports Magnate Limited. Abl has a tested background in company management and industrial instinct, at first from working as a management expert for both Deloitte Consulting and Deloitte Corporate Financing in Perth and Melbourne.
Abl likewise led the restructure and turn-around of an economically distressed ASX-listed media business and presently holds directorships for a series of start-up business, using business advisory, task management and industrial settlement guidance to numerous organizations. He has a degree in law and commerce with honours in financing and accounting from the University of Western Australia.
Fadi Diab– Non-executive Director
Fadi Diab was the previous head of worldwide payroll at Commonwealth Bank of Australia. There, he handled the worldwide payroll group, which is accountable for 55,000 workers throughout 15 nations. Diab is an accomplished senior executive identified for leveraging strong group management and advancement to drive forward development.
He has a background in personnels, having actually held the function of executive personnel supervisor at the Commonwealth Bank, and presently runs a financier relations business.
Diab has a Bachelor of Organization, Personnel Management, and Industrial Relations from the University of Western Sydney and a Master of Organization Management from University of Innovation Sydney.
John Sobolewski – Chief Financial Officer
John Sobolewski’s experience in the lithium market uses another important addition to the LU7 all-star team. At Galaxy Resources, he played an essential function throughout the expediency, financing, building and construction and operation stages of the Mt Cattlin Spodumene mine and Jiangsu Lithium Carbonate refinery. He was likewise vital in developing groups and systems in Australia and worldwide. His experience in monetary modelling and financial obligation modelling for both jobs will be crucial in Lithium Universe, finishing conclusive expediency research studies of the Québec Lithium Processing Center concentrator and lithium carbonate refinery jobs.
Sobolewski is a chartered accounting professional and a graduate of the Australian Institute of Business Directors. His previous functions consist of handling director and CEO with Mintrex, CFO and business secretary with Mintrex, Galaxy Resources Limited and Vital Metals Limited, monetary controller and business secretary with Croesus Mining NL, and group accounting professional and business secretary with Titan Resources NL.
Vincent John Fayad– Joint Business Secretary
Vincent John Fayad is a chartered accounting professional with over 40 years of experience in business financing, worldwide M&A, accounting and advisory-related services mainly carried out by mid-tier accounting company PKF. In 2016, he developed his own company, Vince Fayad & & Associates, to supply accounting and advisory services within Australia and overseas.
Over the last 25 years, Fayad has actually invested a substantial quantity of time recommending on different deals, mainly associated to the mining and expedition markets and offering accounting and business secretarial experience to mining expedition business.
Fayad is presently an executive director and joint business secretary of Astute Metals NL (ASX: ASE) and joint business secretary of Greenvale Energy (ASX: GRV). He is likewise a non-executive director of Nexon Asia Pacific, a telecom business, managed by personal equity group EQT.
Kurt Laney– Joint Business Secretary
Kurt Laney is a skilled chartered accounting professional specialising in the arrangement of advisory, consultancy, tax and business secretarial services. Laney is presently an associate director of Vince Fayad and Associates, where he supplies accounting and tax services to high-net-worth people, household workplaces, big family-owned organizations and international entities.
Laney is likewise the joint business secretary and CFO of Greenvale Energy Ltd (ASX: GRV) and Astute Metals NL (ASX: ASE), in addition to numerous unlisted public business mainly concentrated on the tech and mining markets. He has actually formerly functioned as the business secretary of Polymetals Resources (ASX: POL).
Justin Rivers– Head of Geology
Justin Rivers has more than twenty years of senior executive, technical and industrial experience in Africa, Australia, Asia, Arctic, Middle East, The United States And Canada and South America in the significant and junior area, with a specific concentrate on Iron Ore and Gold. He has a well-tenured tactical and tactical technique to the mining market with intimate industrial, company advancement and M&A experience in Tier-1, openly noted and personal equity environments.
Prior to signing up with Lithium Universe Limited, Rivers held the position of executive director and CEO of Mauritian domiciled personal equity business Convertible Resources, driving tactical advancement of its gold jobs in the Siguiri area of northeast Guinea. He has a Bachelor’s Degree (very first class honours) learning geology and ecological science from the University of Tasmania.
Terry Stark– Head of Mining
Terry Stark was formerly handling director – resources department for Galaxy Resources (ASX: GXY), where he was accountable for all of Galaxy’s mineral resources possessions such as expedition and mine operations. Stark managed the Mt Cattlin building and construction and subsequent effective start-up. He likewise handled the Galaxy James Bay task and had a great relationship with the regional Cree Country.
An experienced mining engineer, Stark holds a Bachelor of Applied Science specialising in mining engineering.
John Loxton – Head of Lithium Carbonate Refinery
John Loxton’s lithium experience began in 2010 with deal with the Jiangsu Lithium Carbonate Plant EPCM for Galaxy Resources in China where his duties at first were at a Sponsor level, and even more into the task. He was the task supervisor for the lasts of building and construction and commissioning. In 2019, Loxton was engaged by Tianqi Lithium as head of jobs for the execution of their financial investment in a lithium hydroxide processing plant in Kwinana, Western Australia. He handled the commissioning of the very first train accomplishing the very first item in 2021 and carried out execution preparation and developing a task group for a similar 2nd train in 2022. Loxton is a task supervisor with over 45 years of experience throughout a varied series of energy, commercial, procedure, civil, and significant facilities jobs.
Roger Pover– Head of Processing
Roger Pover was formerly the Mt Cattlin plant supervisor for Galaxy Resources (ASX: GXY). He became part of the commissioning and launch group and ran the plant for several years. Pover likewise directed all optimisation adjustments made at Mt Cattlin.
Pover is a veteran in the lithium market, having actually started his profession at Greenbushes Lithium mine in the early 90s. He has a 45-year profession in the mining and chemical processing markets including mineral sands, alumina refining, lithium, iron ore, tantalum minerals and tin production.
Huy Nguyen– Engineering Supervisor
Huy Nguyen has actually been seconded from Mintrex to function as Lithium Universe Limited’s engineering customer agent. Mintrex was the lead engineering business that developed and built (together with DRA International) the Mt Cattlin Spodumene Plant.
Nguyen became part of the building and construction guidance when Mt Cattlin was constructed, so he is experienced with not just the style however likewise the building and construction procedure that provided a task on time and on spending plan.
Nguyen has a Bachelor of Mechanical Engineering from Curtin University, Master of Organization Administration and a member of Engineer Australia.
Victoria Vargas – Director, Lithium Universe Holdings (Canada)
Victoria Vargas gives Lithium Universe (Holdings) more than 25 years of experience in the North American capital markets, with a substantial concentrate on the Canadian mineral sector. She started her profession at Kinross Gold Corporation and signed up with Alamos Gold in 2004. Throughout her period, she played an essential function in improving financier direct exposure and assisting in the business’s shift from the TSX Endeavor to the TSX. Before signing up with Alamos Gold, Vargas worked for water Development, a Québec-based business concentrated on offering best-in-class innovations and services for the water and wastewater treatment market.