As a key driver in the global energy transition, lithium has seen its demand skyrocket. Central to the green energy revolution, the demand for lithium is set to increase as the push towards decarbonization intensifies, especially following specific initiatives discussed at the recent
Following the recent release of the desktop research and reconnaissance survey, the company has disclosed a comprehensive overview of the initial phase of the project's rollout schedule. Dedicated teams are already on the ground, actively executing the plan. This document outlines the action plan and timelines essential for completing a Preliminary Economic Assessment (PEA) by Q2 2024, including critical dates for key activities like drilling and core sampling. It also introduces the main exploration team members leading this phase. In addition, as part of the detailed rollout, further samples from the prospecting license sites have been obtained and submitted for comprehensive laboratory analysis. The management team anticipates the initial results from this thorough lab assessment in the coming weeks and is hopeful that these findings will lead to a discovery announcement of significant importance, potentially marking a major milestone in the project's advancement. Shareholders seeking a comprehensive overview of the rollout plan and associated task deliverables are invited to visit the investor section of the CGRA Mining website.
Two key elements of the action plan which will be completed early in the new year, prior to completing a PEA, include the drilling and core sampling programs. These programs will be instrumental in enriching the company’s understanding of the tenements and building a strong reserve table. The drilling will refine the estimation of the lithium resources already confirmed, while the core sampling will provide detailed data on the lithium concentration and ore quality. This information will be instrumental in understanding the economic potential of the mining project in greater detail. Given the encouraging data from surrounding mines and the company’s recent research study, the management team's optimism regarding the project's potential has intensified. This sentiment is buoyed by anticipation of further validation and positive results from upcoming analyses and in-depth reports, especially in light of the recent positive upturn in the global lithium market.
While it's beneficial to understand the core elements of the rollout plan for the next number of months within this phase of the project schedule, it's equally important to reflect on the significant progress and key milestones achieved in recent months, recognizing the tangible benefits and practical implications of these accomplishments for CGRA shareholders. With this in mind, it is crucial for shareholders to fully grasp the significance of the following milestones:
Granting of Prospecting Licences
Obtaining prospecting licenses is a crucial milestone in the mining industry, signifying a major achievement for any mining company. CGRA has successfully secured multiple four-year prospecting licenses from the
Internationally Accredited Mining Standards and Appointed Experts
Companies and competent persons engaged by
Confirmation of Lithium Bearing Pegmatite Deposits
CGRA published its first formal findings via a comprehensive research study and reconnaissance survey, often viewed as a key milestone for a mining company. This provides independent validation of the existence of lithium deposits within the tenements owned by
Value-Enhancing Discovery Phase
CGRA's current trajectory aligns with the Lassonde Curve, a widely recognized model in the mining industry that illustrates the significant growth potential during the discovery stage—a phase CGRA is now entering. This achievement is particularly noteworthy as it can take upwards of four years to reach this stage of the mining process. The Lassonde Curve suggests that the discovery stage often corresponds with the most substantial increase in a mining company's market value. As CGRA embarks on this exciting phase, there is a strong anticipation of not only advancing exploration efforts but also realizing remarkable value growth. Historically, this stage has been a pivotal point for substantial increases in company valuations and benefitting shareholders in return.
In summary,
For regular
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Source: CGRA
Forward-Looking Statement
Certain information set forth in this press release contains "forward-looking information", including "future-oriented financial information" and "financial outlook", under applicable securities laws (collectively referred to herein as forward-looking statements). Except for statements of historical fact, the information contained herein constitutes forward-looking statements and includes, but is not limited to, the (i) projected financial performance of the Company; (ii) completion of, and the use of proceeds from, the sale of the shares being offered hereunder; (iii) the expected development of the Company's business, projects, and joint ventures; (iv) execution of the Company's vision and growth strategy, including with respect to future M&A activity and global growth; (v) sources and availability of third-party financing for the Company's projects; (vi) completion of the Company's projects that are currently underway, in development or otherwise under consideration; (vi) renewal of the Company's current customer, supplier and other material agreements; and (vii) future liquidity, working capital, and capital requirements. Forward-looking statements are provided to allow potential investors the opportunity to understand management's beliefs and opinions in respect of the future so that they may use such beliefs and opinions as one factor in evaluating an investment. These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause actual performance and financial results in future periods to differ materially from any projections of future performance or result expressed or implied by such forward-looking statements. Although forward-looking statements contained in this presentation are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change except as required by applicable securities laws. The reader is cautioned not to place undue reliance on forward-looking statements.
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