Delta Lithium Produces 99.8% Lithium Carbonate in Western Australia Project Testwork, Shares Up 3%

MT Newswires Live

Mar 31

Delta Lithium (ASX:DLI) said processing of mica concentrate at its Mt Ida lithium project in Western Australia produced 99.8% lithium carbonate product during testwork, confirming its suitability for battery manufacturing, according to a Tuesday Australian bourse filing.

The company said low lithium losses during processing resulted in an overall lithium recovery of 86% to lithium carbonate from concentrate, while development of a process to recover rubidium also demonstrated production of high-grade rubidium carbonate of about 97% purity.

Delta said spodumene concentrate prices are stabilizing above $2,000 per tonne, providing a significant incentive to compile current study workflows for the Mt Ida lithium project.

As of March 27, the company held a cash balance of AU$52 million and additional ASX-listed investments valued at about AU$100 million based on closing prices on that date, the filing added.

The company's shares rose 3% in recent Tuesday trade.

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