Standard Lithium Ltd. (“
Standard
Lithium” or the “
Company”) (TSXV: SLI)
(NYSE American: SLI) (FRA: S5L), a leading near-commercial lithium
company, is pleased to announce the appointment of David Park as
Senior Strategic Advisor. Mr. Park, a highly experienced executive
with a strong energy and industrial sector background, joins
Standard Lithium following his retirement from Koch Industries
after 28 years.
“We are pleased to welcome David to Standard
Lithium,” said Robert Mintak, CEO and Director of Standard Lithium.
“Mr. Park brings extensive knowledge, experience, and valuable
industry relationships in the energy, industrial and financial
sectors. He will play a pivotal role in refining and accelerating
our commercial strategies moving forward and contribute
meaningfully on our journey to become the next producer of lithium
in the United States.”
Most recently, Mr. Park served as President of
Koch Strategic Platforms (“KSP”), the division of Koch Industries
which invested in SLI in 2021.
Mr. Park said: “I’m excited to join the SLI team
as an adviser and work alongside their outstanding team to help
drive the next phase of the Company’s growth. I am impressed by
Robert and Andy’s efforts to advance and de-risk their projects
over the last two years. Given their efforts, the value proposition
of SLI becoming the next, low cost, environmentally friendly
domestic source of lithium for electric vehicles is stronger than
ever.”
Prior to his role as President at KSP, Mr. Park
served as Senior Vice President, Strategy and Business Development
of Georgia-Pacific, LLC, a subsidiary of Koch Industries, after
being responsible for new platform acquisitions at Koch. Prior to
that David served as President of TrueNorth Energy and Koch
Exploration, after serving as CFO of Koch’s Canadian exploration
and production, pipeline, and energy trading business.
Mr. Park began his career at Koch in its
business development group, after serving as an International
Business Development Specialist at Atomic Energy of Canada Ltd.
Throughout his career, he consistently delivered outstanding
results, underscoring his ability to drive success and generate
significant value for Standard Lithium.
Mr. Park holds a Bachelor of Science in
Economics from Texas A&M University and a Master of Arts in
Economics from George Mason University.
Feasibility Study Updates on Flagship
Arkansas Projects
The Company also announces progress updates on
the feasibility studies related to the LANXESS Project (“LANXESS”)
and South West Arkansas Project (“SWA”).
“We expect to file the feasibility studies for
our flagship Arkansas projects early in the third quarter,” said
Dr. Andy Robinson, COO and Director of Standard Lithium. “Our
project teams and partners are working diligently to complete the
studies, which we are eager to finalize and share with key
stakeholders. We look forward to showcasing the hard work our teams
have put in over the last 12 months.”
In September 2022, the Company commenced a
Definitive Feasibility Study (“DFS”) and Front-End Engineering
Study for Phase 1A of the LANXESS Project (see news release dated 7
September 2022). The South West Arkansas Preliminary Feasibility
Study (“PFS”) began in May 2022 (see news release dated 2 May
2022); both the DFS and PFS are expected to be complete in early
third quarter 2023.
Dr. Robinson shared: “We await final vendor
pricing for our LANXESS Project DFS and for critical, third-party
analytical data from the SWA drilling work for the PFS. We have
analysed all of the brine samples from SWA at our own analytical
facility and anticipate sharing the data once we receive
verification from the external laboratory. We continue to expect
our flagship Arkansas projects to be meaningful contributors to
U.S. lithium production in the coming decades.”
About Standard Lithium Ltd.
Standard Lithium is a leading near-commercial
lithium development company with a portfolio of projects in
process. The Company’s flagship projects, the Lanxess Project and
the South West Arkansas Project, are located in Southern Arkansas
near the Louisiana state line. The Company is focused on the
evaluation and testing of commercial lithium extraction and
purification from brine sourced from approximately 180,000 acres of
unitized leases across these two projects. The Company operates a
first-of-a-kind industrial-scale Direct Lithium Extraction (DLE)
Demonstration Plant at the Lanxess Project. The scalable,
environmentally friendly process eliminates the use of evaporation
ponds, reduces processing time from months to hours and greatly
increases the effective recovery of lithium. A Definitive
Feasibility Study (DFS) and Front-End Engineering Study (FEED) for
Phase 1A of the Lanxess Project commenced in September 2022. A
Preliminary Feasibility Study (PFS) of the South West Arkansas
Project commenced in May 2022. The Company is also pursuing the
resource development of other projects in the Smackover Formation
in East Texas, as well as approximately 45,000 acres of mineral
leases located in the Mojave Desert in San Bernardino County,
California.
Standard Lithium is jointly listed on the TSX
Venture Exchange and the NYSE American under the trading symbol
“SLI”; and on the Frankfurt Stock Exchange under the symbol “S5L”.
Please visit the Company’s website
at www.standardlithium.com.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
This news release may contain certain
“Forward-Looking Statements” within the meaning of the United
States Private Securities Litigation Reform Act of 1995 and
applicable Canadian securities laws. When used in this news
release, the words “anticipate”, “believe”, “estimate”, “expect”,
“target, “plan”, “forecast”, “may”, “schedule” and other similar
words or expressions identify forward-looking statements or
information. These forward-looking statements or information may
relate to development of a commercial lithium plant,
completion of definitive feasibility study, future prices of
commodities, accuracy of mineral or resource exploration and
drilling activity, reserves or resources, regulatory or government
requirements or approvals, the reliability of third party
information, continued access to mineral properties or
infrastructure, fluctuations in the market for lithium and its
derivatives, changes in exploration costs and government regulation
in Canada and the United States, and other factors or information.
Such statements represent the Company’s current views with respect
to future events and are necessarily based upon a number of
assumptions and estimates that, while considered reasonable by the
Company, are inherently subject to significant business, economic,
competitive, political and social risks, contingencies and
uncertainties. Many factors, both known and unknown, could cause
results, performance or achievements to be materially different
from the results, performance or achievements that are or may be
expressed or implied by such forward-looking statements. The
Company does not intend, and does not assume any obligation, to
update these forward-looking statements or information to reflect
changes in assumptions or changes in circumstances or any other
events affecting such statements and information other than as
required by applicable laws, rules and regulations.
For further information contact:
LHA Investor Relations
David Barnard
+1 415-433-3777
standardlithium@lhai.com
info@standardlithium.com
Twitter: @standardlithium
LinkedIn: https://www.linkedin.com/company/standard-lithium/
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