LithiumBank Resources (LBNKF) – Transitioning from Exploration to Development

Natural Resources
0 min read

Friday, February 03, 2023

Mark Reichman, Senior Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Alberta projects are front and center. Boardwalk and Park Place are both district-scale lithium brine projects with significant potential for commercial development. LithiumBank established Canada’s first indicated mineral resource of lithium brine at its Boardwalk project and assayed wells up to 82.0 milligrams per liter lithium at Park Place. LithiumBank intends to complete a preliminary economic assessment (PEA) for Boardwalk in the first quarter of 2023 and a preliminary feasibility study (PFS) in the second half of the year. At Park Place, a mineral resource estimate is expected in the first half of the year, followed by a PEA in the second half of 2023. LithiumBank expects to conduct detailed hydrogeological modeling and brine sampling at both Boardwalk and Park Place to expand and upgrade the classification of their lithium resources to measured and indicated categories.

Brine processing pilot plant. LithiumBank intends to further de-risk Boardwalk and Park Place by commissioning a brine processing pilot plant in the second half of 2023 to produce a concentrated lithium chloride solution. LithiumBank is working with several direct lithium extraction (DLE) technology providers to enhance recovery, lower power consumption, and reduce project capital expenditures. This work and subsequent reservoir sampling is expected to be incorporated into the Boardwalk PEA and Park Place resource estimate.

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