This will occur after the third parcel of more than 15 million fully paid ordinary shares held under voluntary escrow trading restrictions is released, which is expected to occur on November 24.
The balance of the VSPC acquisition will be released in a final tranche in three months from now.
Lithium Australia aspires to ‘close the loop’ on the energy-metal cycle in an ethical and sustainable manner.
To that end, it has amassed a portfolio of projects and alliances and developed innovative extraction processes to convert all lithium silicates to lithium chemicals.
From these, the company plans to produce advanced components for the lithium-ion battery industry.
The final step for Lithium Australia involves recycling of spent batteries and e-waste.
By uniting resources and the best available technology, Lithium Australia seeks to establish a vertically integrated lithium processing business.
The company’s subsidiary VSPC forms part of this strategy with its Brisbane plant that produces lithium iron phosphate (LFP) cathode powder for use in the production of lithium-ion batteries.
This plant, which is Australia’s only cathode powder pilot plant and battery-testing facility, was recently recommissioned.
At the time, Lithium Australia’s managing director Adrian Griffin said: “We are convinced that VSPC’s elegant solution to increasing lithium-ion battery efficiency is the best available for production of LFP cathode powders.
“The technology also has applications in catalyst and medical fields. Independent tests have already shown that VSPC cathode powders out-perform industry benchmarks – a compelling reason for cell makers to use VSPC material.”
SiLeach® processing trials
Lithium Australia is also undertaking stage II processing trials of its SiLeach® technology at a facility in Sydney, NSW.
The objective is to use the processing technology to convert mine waste into lithium-ion batteries, which would be a world first.
Processing trials are being undertaken at the ANSTO facility in NSW.
Trade-off studies are underway to resize the company’s proposed large-scale pilot plant (LSPP) with an objective of reducing capital costs.
Despite the additional engineering requirements of resizing the LSPP, Lithium Australia remains confident that the studies required for commitment to construction of the plant will be complete this quarter as the plans are well advanced.
The company is also reassessing the pilot plant location to optimise technical and financial benefits.
This process will take into account the principal financial considerations together with intangibles such as the ability to manage research & development in offshore jurisdictions.