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Arizona Lithium Limited ( (AU:AZL) ) has provided an announcement.
Arizona Lithium Limited has announced significant progress in its Prairie Lithium Project, having received regulatory approval for Phase 1 production from the Ministry of Energy and Resources in Saskatchewan. This phase will see the project produce 150 tonnes per annum of lithium carbonate equivalent, marking a major step towards commercial-scale production. The company has also successfully raised $4.25 million through an oversubscribed Share Purchase Plan, which will be used to fund the development of a commercial-scale DLE facility. This facility is expected to be one of the world’s largest, allowing for scalable and cost-effective production expansion, thereby strengthening Arizona Lithium’s market position and reducing project risks.
More about Arizona Lithium Limited
Arizona Lithium Limited is a company operating in the lithium industry, focusing on the extraction and production of lithium carbonate equivalent (LCE). The company is engaged in developing the Prairie Lithium Project in Saskatchewan, Canada, and aims to utilize Direct Lithium Extraction (DLE) technology to enhance its production capabilities.
Average Trading Volume: 28,233,443
Technical Sentiment Signal: Sell
Current Market Cap: A$43.04M
Find detailed analytics on AZL stock on TipRanks’ Stock Analysis page.