Arizona Lithium Limited (ASX:AZL) Unveils Updated Development Plan for Prairie Project
Updated Development Plan
Arizona Lithium Limited has implemented an updated phased development plan for its Prairie Lithium Project. Phase I will commence production at Pad #1 using a commercial-scale direct lithium extraction (DLE) unit capable of producing 150 tonnes per annum of lithium carbonate equivalent (LCE). Phase II will expand production on Pad #1 with additional DLE units, and Phase III will replicate the facility across Pad #2, Pad #3, and other identified locations.
Capital Initiatives
The company requires AUD35 million in capital expenditure for Phase I. Arizona Lithium is considering non-dilutive capital initiatives with multiple potential strategic partners, in addition to exploring government grants, loans, and traditional debt financing solutions.
Executive Comments
Managing Director Paul Lloyd commented, “We are excited to share additional details about our plans for the Prairie Project. In 2023, a PFS was released that highlighted lithium production across three pad locations from the Prairie Project. In 2024, we partnered with three landowners to secure the three pad locations and immediately went to work permitting and clearing the ground for the pads. A major drilling program was then executed across those three pads, which significantly de-risked the project and put us in a position to continue development toward production. 2025 will be a year of facility construction and commissioning Phase I at Pad #1. Our phased development plan clearly articulates how we will continue to de-risk and develop the project. Modularisation allows rapid and cost-effective scale-up to increase production in Phase II and III.”
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