Talison Lithium Announces Preliminary Second Quarter 2012 Sales Volume
Perth, Western Australia, January 12, 2012 – Talison Lithium Limited (“Talison” or the “Company”) (TSX: TLH | US: TLTHF ) today announced its preliminary sales volume and production results for the three months ended December 31, 2011 (“Q2 FY2012”). The Company also provided an update on its growth projects encompassing its Australian capacity expansion, lithium minerals conversion plant and Salares 7 brine project.
Preliminary Results
Talison sold 75,221 tonnes lithium concentrate during Q2 FY2012 (or approximately 11,200 tonnes lithium carbonate equivalent (“LCE”)). Sales in the quarter were affected by significant congestion at the Port of Bunbury due to berth closures and unplanned Port shutdowns impacting all Port users. This resulted in approximately 38,000 tonnes of Talison’s lithium concentrate sales that were ready at the Port for shipment in early December being delayed into January 2012. These shipments have now departed and will be included in Q3 FY2012 sales. Sales for the 2012 fiscal year are not expected to be affected.
For the six months ended December 31, 2011 Talison sold 155,536 tonnes of lithium concentrate (approximately 23,100 tonnes LCE), a 4% increase compared to the six months ended December 31, 2010.
Q2 FY2012 production was 89,015 tonnes lithium concentrate (approximately 13,200 tonnes LCE), a 7% increase compared to Q2 FY2011. For the six months ended December 31, 2011, Talison produced 179,723 tonnes of lithium concentrate (approximately 26,700 tonnes LCE), a 9% increase compared to the six months ended December 31, 2010.
Growth Projects
Greenbushes Stage 2 Expansion On Schedule and On Budget
The Stage 2 Expansion at the Greenbushes Lithium Operations continues to proceed on schedule and on budget. Foundations for the new chemical-grade plant are complete, installation of steel-work is continuing and the conveyer belt to the finished product stockpile is being constructed.
The Company continues to expect commissioning of the Stage 2 Expansion during Q4 FY2012. Upon completion, the Stage 2 Expansion will double Talison’s current production capacity to approximately 740,000 tonnes per annum lithium concentrate (approximately 110,000 tonnes per annum LCE).
Work on the new chemical-grade plant as part of the Stage 2 Expansion at the Greenbushes Lithium Operations.
Conveyer belt to finished product stockpile being constructed as part of the Stage 2 Expansion at the Greenbushes Lithium Operations
Proposed Minerals Conversion Plant
Responding to growing global demand for an additional secure supply of lithium chemicals, particularly from electric vehicle battery manufacturers, Talison is aggressively pursuing its proposed plant to convert lithium minerals into lithium carbonate (“Minerals Conversion Plant”).
Commencing in early calendar 2012, the next phase of the project includes a detailed engineering study of a 20,000 tonnes per annum lithium carbonate plant located in Western Australia. Talison is targeting commissioning in FY2015 and anticipates making an investment decision on the project by the end of calendar 2012.
Discussions with potential customers for the Minerals Conversion Plant are continuing positively. To accelerate the formation of customer relationships in Japan, Talison recently signed a Memorandum of Understanding with Sojitz Corporation to discuss on a non-exclusive basis collaborative marketing and distribution opportunities of lithium carbonate produced by Talison to customers in Japan.
Greenbushes Resource Development and Salares 7 Project
Talison is accelerating resource definition drilling at the Greenbushes Lithium Operations due to the encouraging progress to date in the development of the Minerals Conversion Plant.
The objective of accelerating the drilling is to increase lithium mineral reserves and extend the mine life at Greenbushes to support future additional expansions of the lithium concentrate processing plants and a potential doubling in capacity of the Minerals Conversion Plant.
Consequently Talison is reallocating resources in H2 FY2012 from the Salares 7 Project to the drilling at Greenbushes. The drilling program at the Salares 7 Project will be deferred and the focus will be on the environmental approvals process. This is not anticipated to affect the overall development timetable for the Salares 7 Project.
Financial Results Release February
Talison will release its financial results for Q2 FY2012 in mid-February, 2012.
Peter Oliver, Chief Executive Officer and Managing Director of Talison will host a conference call to discuss the results.
Teleconference and replay call details will be distributed prior to the release of financial results.
To view the entire press release please visit: 2012-01-25 Talison Lithium Ltd. Press Release
No comments:
Post a Comment