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CleanTech Lithium PLC ( (GB:CTL) ) just unveiled an announcement.
CleanTech Lithium PLC is facing a legal claim against its subsidiary, CleanTech Laguna Verde SpA, regarding a delayed payment under a sale and purchase agreement for mining concessions at Laguna Verde. The legal proceedings occurred without the subsidiary’s knowledge, resulting in a lien on its share capital. The company is seeking to annul the proceedings due to improper service and is confident of a favorable outcome. The directors assert that this issue does not affect their application for a special lithium operating contract at Laguna Verde.
More about CleanTech Lithium PLC
CleanTech Lithium PLC is an exploration and development company focused on advancing sustainable lithium projects in Chile, crucial for the clean energy transition. The company operates two key lithium projects, Laguna Verde and Viento Andino, and an exploration stage project in Arenas Blancas, located in the lithium triangle, a renowned area for battery-grade lithium production. CleanTech Lithium is committed to using Direct Lithium Extraction technology, which offers higher recoveries and shorter development times without extensive evaporation pond construction.
Average Trading Volume: 430,607
Technical Sentiment Signal: Sell
Learn more about CTL stock on TipRanks’ Stock Analysis page.