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Be the first with the news that moves the market- Millenial Lithium (TSXV:ML) has been granted the final approval for its REMSA property grouping in Salta, Argentina
- The final license was pending at the Mining Court of Salta, with the application submitted through the company’s Argentine subsidiary Proyecto Pastos Grandes S.A.
- The REMSA properties are satellite sites at the company’s Pastos Grandes project
- Alongside this news, the company has maintained its operations have not been material impacted by the coronavirus pandemic
- Millenial Lithium (ML) is up one per cent and is trading at C$0.97 per share, with a market cap of $80 million
Millenial Lithium (TSXV:MLO) has been granted the final license for its REMSA properties at the Pastos Grandes project in Salta, Argentina.
The final license was pending at the Mining Court of Salta, with the application submitted through the company’s Argentine subsidiary Proyecto Pastos Grandes S.A.
The outstanding license related to the company’s Nueva Sijestya 01 site, one of five REMSA properties, which amount to 6557 hectares of land.
These are satellite properties near to the company’s core licenses that make up the bulk of its Pastos Grandes project.
Millenial Lithium CEO and President, Farhad Abasov said the company was pleased the final license for the REMSA properties had come through.
“Despite the recent slowdown in Argentine due to the COVD-19 restrictions mandated by the Government, the company continues to advance its pilot evaporation ponds and three tonne-per-month pilot lithium carbonate plant.
“The demand for electric vehicles in Europe was very robust before the COVID-19 restrictions and it is expected to recover faster than demand for other vehicles after the restrictions are lifted,” he said.
During the coronavirus, the company implemented a suite of procedures to protect the health of its workers and crews during the pandemic.
Office staff have all been working from home, and field crews have either not been active or have been performing desk work where possible.
Plans for further field work are being accessed for later in the year, but the company does not yet expect a significant impact on its operations from the virus.
Argentina’s government designated mining an essential service, and thus most of the company’s work has progressed largely uninterrupted in the remote part of Bolivia.
Millenial Lithium (MLO) is up one per cent and is trading at C$0.97 per share at 11:38 pm EDT.
