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Lithium Australia has successfully completed the LieNA® piloting with Mineral Resources (MinRes) and has also received A$1.2m from MinRes in relation to the convertible note. 

The remaining key activities towards formation of a 50:50 joint venture (JV) with MinRes is analysis of the lithium phosphate produced from the piloting  and completion of the demonstration plant engineering study. The JV plans to license the technology to third parties at an 8% gross product royalty rate. 

Contact us for further details or questions.

TLDR: Lithium Australia successfully completed the LieNA® piloting with Mineral Resources, receiving funding for the engineering study. The joint venture to commercialize the technology is on track pending product analysis. The company drew down ~A$1.2m, totaling ~A$4.2m to fund ongoing activities. The JV plans to license the technology to third parties at an 8% royalty rate. CEO Simon Linge is pleased with progress and highlights commitment to commercialization. Investors can expect updates on engineering study completion and JV formation. Contact us for further details or questions.<br/><br/>Investors are informed that past performance is not indicative of future performance. Lithium Australia aims to lead the global transition to sustainable lithium production, operating a battery recycler and producing lithium ferro phosphate. The company's technologies capitalize on growing lithium-ion battery demand, providing diversification benefits to global supply chains.

LIT completes LieNA piloting and fourth drawdown from MinRes

Announcement summary