Afrigather WINNIPEG, MB / ACCESSWIRE / January 29, 2023 / Snow Lake Sources Ltd., d/b/a/ Snow Lake Lithium Ltd. (NASDAQ:LITM) (“Snow Lake” or the “Firm”) is happy to present a strategic replace from the Chairman of the Board.
Expensive Valued Shareholders,
Following the restructure of the board, I’m writing to you to stipulate our development and growth technique transferring ahead. We imagine the Firm is properly positioned for fulfillment and we now have thrilling plans for 2023 and past.
Our new board has a well-balanced set of abilities and has begun working in earnest to place the Firm on a path to execute on its growth technique on the Thompson Brothers Lithium Mission, consistent with the important thing factors outlined under.
Our technique seeks to create worth for shareholders via quick monitoring our mission growth, increasing our useful resource, and investing in additional development via exploration and M&A.
Mission Improvement
Our central focus is on making a staged and accountable strategy to mission growth, which shortens the general manufacturing timeline. Particularly, a Preliminary Financial Evaluation (PEA) which considers the potential for Direct Transport Ore (DSO) can be commissioned. This course of could contain selectively mining and / or ore sorting. Starting the event course of via DSO will quick monitor the event of our mission because it removes lots of the allowing and capital spending hurdles while producing money stream for the Firm.
The inclusion of DSO into the Firm’s technique provides further assurance of provide to our potential offtake companions. Importantly, the PEA can even examine an entire stream sheet which is able to embody a DMS / concentrator operation, which we’ll look to fund via money flows generated via DSO.
Mission Progress
As lately introduced, the Firm has elevated its land holdings to 59,587 acres of potential lithium floor. The Firm plans to conduct a discipline exploration marketing campaign as soon as the snow melts. The marketing campaign’s goal can be to determine further lithium-bearing pegmatite swarms throughout the mission.
The Firm then plans to begin exploration drilling on any excessive precedence targets generated via the marketing campaign, with the target of accelerating its tasks tonnage.
Lastly, we plan to proceed to guage M&A alternatives within the area as we work to develop our mission portfolio through accretive acquisitions.
Company
We firmly imagine that good persons are key to the success of the Firm transferring ahead. As such, the board is dedicated to the recruitment of a excessive calibre CEO who will drive the Firm alongside this development technique.
We’re additionally actively reviewing all company bills and contracts that have been entered into by the earlier administration, to make sure that our funds aren’t being wasted, that they’re being spent effectively, and most significantly that our funds are in accordance with our development and growth technique.
The next key motion gadgets are already in progress:
- Recruitment of a excessive calibre CEO
- Infill and extension drilling on the Grass River Mission
- Up to date useful resource estimate for the Thompson Brothers Mission and a Maiden Useful resource Estimate for the Grass River Mission
- Allowing preparation via the development of Environmental and Social research
- Preliminary Financial Evaluation (PEA) for a Direct Transport Ore (DSO) product to begin our fast-tracked strategy to manufacturing and money flows (An idea lately demonstrated by Core Lithium (ASX:CXO) with 1.4% Li20 DSO bought out of Australia at US $951/dmt)[1]
- An area contractor has been brief listed and is able to work through a standard truck and shovel mining methodology upon essential allowing being acquired
- Discussions and negotiations with potential offtake companions
In abstract, our prime goal is to be the subsequent low-cost Lithium producer while rising our Lithium assets. Our staged growth strategy will reduce start-up threat and up-front capital necessities. Our income from open-market DSO adopted by spodumene focus gross sales can even assist defray our capital necessities as we proceed to look at the viability for a centralized hydroxide plant within the years to return with strategic companions.
Closing Commentary
As outlined above, our precedence is now set on exploring early money flows via a fast-tracked strategy to mission growth by the use of a DSO operation, adopted by additional spodumene focus gross sales. It will place Snow Lake to draw financing on phrases not usually accessible to early-stage developments, together with potential entry to the US company bond market and the Division of Power’s (DOE) loans program for important metals. That is anticipated to result in a decrease value of capital when financing a possible hydroxide plant sooner or later.
This vital near-term upside via growth and exploration offers us with a transparent path to worth creation over the brief, medium and long run. It is a really transformational time for our Firm as we search to shortly begin provide on this long-term Lithium bull market.
The board and I are dedicated to delivering on our clearly outlined technique. We stay up for offering additional updates on our near-term catalysts, as we glance to exceed expectations, preserve open communication and ship on our worth creation technique.
Nachum Labkowski
Chairman of the Board
Snow Lake Lithium, Ltd.
About Snow Lake Sources Ltd.
Snow Lake is dedicated to close time period manufacturing and money stream lithium mine via standard truck and shovel mining strategies to produce the North American electrical automobile and battery markets.
Ahead Wanting Statements
This press launch comprises “forward-looking statements” which can be topic to substantial dangers and uncertainties. All statements, apart from statements of historic reality, contained on this press launch are forward-looking statements, together with with out limitation statements with restoring Snow Lake Lithium. We base these forward-looking statements on our expectations and projections about future occasions, which we derive from the data at the moment accessible to us. Ahead-looking statements contained on this press launch could also be recognized by means of phrases resembling “anticipate,” “imagine,” “ponder,” “may,” “estimate,” “count on,” “intend,” “search,” “could,” “would possibly,” “plan,” “potential,” “predict,” “mission,” “goal,” “purpose,” “ought to,” “will,” “would,” or the adverse of those phrases or different comparable expressions, though not all forward-looking statements comprise these phrases. Ahead- trying statements are based mostly on Snow Lake Sources Ltd.’s present expectations and are topic to inherent uncertainties, dangers and assumptions which can be tough to foretell. Additional, sure forward-looking statements are based mostly on assumptions as to future occasions that won’t show to be correct. A few of these dangers and uncertainties are described extra totally within the part titled “Threat Components” in our registration statements and reviews filed with the Securities and Change Fee. Ahead-looking statements contained on this announcement are made as of this date, and Snow Lake Sources Ltd. undertakes no obligation to replace such info besides as required beneath relevant legislation.
For extra info, please contact:
Buyers: [email protected]
Media: [email protected]
Twitter: @SnowLakeLithium
www.SnowLakeLithium.com
[1] https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02617718-2A1423133?access_token=83ff96335c2d45a094df02a206a39ff4)
SOURCE: Snow Lake Sources Ltd.
