Infinity Lithium Corporation Limited (‘Infinity’, or ‘the Company’) is pleased to provide an update on sustainability and carbon footprint requirements in Europe, and the strategic importance of the San Jose Lithium Project. The company noted in the European Conferences and 9th International Advanced Automotive Battery Conference Presentation (ASX announcement 1 February 2019) the support of European raw materials and refining projects to strengthen the strategic position of the European Union (‘EU’) lithium-ion battery (‘LIB’) and electric vehicle sectors. Limiting CO2 emissions remains a priority for Europe and increasingly a consideration for electric vehicle (‘EV’) OEMs throughout their entire supply chain.
The increasing focus of EV industry participants in Europe is changing the landscape of investment in the EU and availability of key components in lithium-ion battery (‘LIB’) production and assembly. The ability to source raw materials and consideration of CO2 emissions remains a priority for the European market, and ultimately the requirements of EV manufacturers to address the carbon footprint of their end products is increasingly important as the integration of the LIB industry in Europe gains momentum.
With the European Commission (‘EC’) promoting lithium refining as part of a broader strategy to develop and entire LIB value chain in Europe. Key industry EV producers and cathode manufacturers are working with suppliers to reduce carbon emissions and the promotion of an inevitable European supply chain.
Infinity’s CEO and Managing Director, Ryan Parkin stated “It is encouraging to see the increasing focus of the European LIB and EV community respond to not only the highly concentrated geographical constraints seen in today’s lithium chemicals market, but also seek to secure the future of the 2nd largest EV market globally through sustainability and carbon emission considerations. The proximity of San Jose to European markets remains a significant asset for potential strategic partners and offtake consumers, essentially enabling a multi decade surety of supply within increasing stringent environmental considerations.”
Please refer to the attached corporate presentation, both this and the Spanish version is available at www.infinitylithium.com
Forward-looking statements are statements that are not historical facts. Words such as “expect(s)”, “feel(s)”, “believe(s)”, “will”, “may”, “anticipate(s)” and similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to statements regarding future production, resources or reserves and exploration results. All of such statements are subject to certain risks and uncertainties, many of which are difficult to predict and generally beyond the control of the Company, that could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include, but are not limited to: (i) those relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits and conclusions of economic evaluations, (ii) risks relating to possible variations in reserves, grade, planned mining dilution and ore loss, or recovery rates and changes in project parameters as plans continue to be refined, (iii) the potential for delays in exploration or development activities or the completion of feasibility studies, (iv) risks related to commodity price and foreign exchange rate fluctuations, (v) risks related to failure to obtain adequate financing on a timely basis and on acceptable terms or delays in obtaining governmental approvals or in the completion of development or construction activities, and (vi) other risks and uncertainties related to the Company’s prospects, properties and business strategy. Our audience is cautioned not to place undue reliance on these forward-looking statements that speak only as of the date hereof, and we do not undertake any obligation to revise and disseminate forward-looking statements to reflect events or circumstances after the date hereof, or to reflect the occurrence of or non-occurrence of any events.
The Production Target referred to in this announcement is based on 91% Indicated Resources and 9% Inferred Resources for the life of mine life covered under the Study. In accordance with the twenty four (24) year mine plan incorporated into the Study, the first three (3) years of production (covering payback period) will come 96% from Indicated Resources.
The Study is based on the material assumptions outlined in the ASX announcement 29 November 2018. These include assumptions about the availability of funding. While the Company considers all the material assumptions to be based on reasonable grounds, there is no certainty that they will prove to be correct or that the range of outcomes indicated by the Study will be achieved. To achieve the potential mine development outcomes indicated in the Study, additional funding will be required. Investors should note that there is no certainty that the Company will be able to raise funding when needed however the Company has concluded it has a reasonable basis for providing the forward looking statements included in this announcement and believes that it has a “reasonable basis” to expect it will be able to fund the development of the San Jose lithium deposit.
Infinity is not aware of any new information or data that materially affects the information included in this ASX release, and Infinity confirms that, to the best of its knowledge, all material assumptions and technical parameters underpinning the resource estimates in this release continue to apply and have not materially changed.