–News Direct–
Lithium Australia Ltd (ASX:LIT, OTC:LMMFF) CEO Simon Linge gives Proactive a recap on its June quarter highlights. 319 tonnes of mixed batteries were collected during the period, with a record total of 1,347 tonnes for FY23, representing an increase of 24% on FY22. He says due to strong market demand, the development plan for LFP production has grown from targeting a 200-300 tpa capacity plant to a 2,000-3,000tpa plant. Meanwhile Linge also says commercial discussions are progressing with leading Australian entities regarding its disruptive lithium extraction technology LieNA
As at June 30, 2023, the company has a strong balance sheet with cash and listed investments of A$15 million and no debt.
The company has prioritised cost savings and implemented key measures, including the recent closure of a Melbourne recycling site and consolidation of the Perth office.
Lithium Australia has also restructured its executive leadership team, with a clear focus on defining roles and responsibilities to maximise the core capabilities within the team.
Contact Details
Proactive Investors
Jonathan Jackson
+61 413 713 744
jonathan@proactiveinvestors.com
View source version on newsdirect.com: https://newsdirect.com/news/lithium-australia-enjoys-strong-growth-in-battery-recycling-101096403
Lithium Australia Ltd
COMTEX_437680384/2655/2023-08-01T15:00:05
