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American Pacific Borate & Lithium optimisation work delivers high-purity boric acid

The company has begun a process to secure funding for phase 1A of the Fort Cady Borate Project with a view to being fully financed by end of 2019 to begin construction.

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Boric acid crystals produced in process optimisation works

American Pacific Borate & Lithium Ltd (ASX:ABR) has delivered a high-purity plus 99.9% pure boric acid crystal with minimal impurities from process optimisation works at the Fort Cady Borate Project in California, USA.

The works, which were on April 10, 2019, were designed to ensure consistent delivery of a technical grade quality boric acid crystal from the project.

Shares on the ASX are up 12.5% to an intra-day high of 22.5 cents.

 Location of Fort Cady and Salt Wells projects in the USA

 

ABR chief executive officer Michael Schlumpberger said: “This is another hurdle in our aspiration to commence production of borates from our flagship Fort Cady Borate Project and ultimately to become a globally significant producer of high purity borate products.

“Our focus now turns to the completion of detailed engineering and securing the modest financing for the low capital starter project.

“Importantly, we have delivered a very low capital starter project with brilliant financial metrics that sees us on the pathway to becoming a globally significant producer of borates targeting an EBITDA of over US$340 million per annum.

“When you consider borates are a vital input into new world technologies including electric vehicles, clean energy and food security related micro-nutrients for optimal plant growth, we are sure the demand for borates will only continue to grow.”

 

Fort Cady boric acid assay results

ABR is focused on completing process optimisation works to ensure it can consistently deliver a technical grade premium boric acid product.

The results of these works have been very encouraging with a final process now designed to ensure that a high-grade product with minimal impurities will be delivered.

Optimisation works include:

  • Treating liquor (pregnant leach solution or PLS) retrieved on site from the Fort Cady ore body by solvent extraction using isoctanol as the organic extractant;
  • Further treating the resulting liquor in a scrubbing stage to purify the liquor; and
  • Crystallising the final liquor via a crystalliser manufacturer where the liquor was sent for evaluation and testing of the crystallisation steps of the process.

Quick facts: American Pacific Borates Ltd

Price: 0.2925 AUD

ASX:ABR
Market: ASX
Market Cap: $61.16 m
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