Life Time (US:LTH) Globenewswire·2025-01-08 12:00Core Viewpoint - Lithium Ionic Corp. has achieved significant milestones in 2024, positioning itself for a transformative 2025 with the Bandeira Lithium Project set to transition to construction [1] Group 1: Key Developments in 2024 - The Bandeira Lithium Project's mineral resources increased by 161% to 41.9 million tonnes grading 1.35% Li₂O, making it the fastest growing hard rock lithium deposit in the Americas [6][8] - A Feasibility Study was delivered, outlining a 14-year mine life with an average production of 178,000 tonnes of 5.5% Li₂O spodumene concentrate annually, a low CAPEX of US$266 million, a post-tax NPV of US$1.3 billion, and an IRR of 40% [9] - The company drilled 8,200 meters in 2024, with results to be incorporated into an updated mineral resource estimate expected in early 2025 [6][15] Group 2: Project Financing and Development - A non-binding Letter of Interest for up to US$266 million was secured from the Export-Import Bank of the United States, establishing a clear pathway for full project financing [6][12] - A non-dilutive US$20 million royalty financing was secured to support the balance sheet and early development activities into 2025 [6] - The company is on the verge of obtaining the Licença Ambiental Concomitante (LAC) license, which will authorize construction to begin [13] Group 3: Strategic Land Acquisitions - The company acquired the remaining 15% of Salinas properties, achieving full 100% ownership [6] - Approximately 3,000 hectares were added through an option agreement for additional claims in the Itinga group, increasing total land holdings to approximately 17,000 hectares [6] Group 4: Sustainability and ESG Initiatives - The company joined the United Nations Global Compact and became a member of the International Lithium Association, reinforcing its commitment to responsible development [6] - Advanced community and environmental initiatives included the planting of over 2,000 native seedlings [7]