Standard Lithium Ltd. on Wednesday filed a "Definitive Feasibility Study" detailing a timeline for expansion of company facilities to extract lithium from brine pumped from deep below south Arkansas.
The study was filed with Canada's System for Electronic Document Analysis and Retrieval (SEDAR), the filing system that allows public companies in Canada to report their securities-related information to regulators.
The first phase of Standard Lithium's expansion is expected to start production in 2028, the report said.
The study says the company is "assuming initial annual production of [about 6,300 tons], and an average annual production of [about 6,000 tons] of battery-quality lithium carbonate over a 25-year operating life."
The study said Standard Lithium "expects to make a final investment decision for Phase 1A in the first half of 2024."
Standard Lithium said it plans to expand "across its portfolio of projects in the Smackover Formation, including the South West Arkansas Project and highly prospective East Texas landholdings. The lithium concentrations of [Standard Lithium's] projects tend to improve from east to west across the Smackover Formation. Most recently, East Texas drilling results delivered the new, highest grade lithium brine concentrations in North America that the Company is aware of. ... Higher lithium concentrations paired with economies of scale through the advancement of multiple projects is expected to afford the Company a competitive advantage as it expands its footprint through the Smackover Formation."
A copy of the study is available under Standard Lithium's profile at www.sedar.com.
Standard Lithium trades on Canada's TSX Venture Exchange and the NYSE American exchange under the symbol "SLI."