(NewsDirect)
Lithium Australia Ltd(ASX:LIT, OTC:LMMFF) CEO Simon Linge gives Proactive a recap on itsJune quarter highlights. 319 tonnes of mixed batteries were collectedduring the period, with a record total of 1,347 tonnes for FY23,representing an increase of 24% on FY22. He says due to strong marketdemand, the development plan for LFP production has grown fromtargeting a 200-300 tpa capacity plant to a 2,000-3,000tpa plant.Meanwhile Linge also says commercial discussions are progressing withleading Australian entities regarding its disruptive lithiumextraction technology LieNA®
As at June 30, 2023, the company has a strongbalance sheet with cash and listed investments of A$15 million and nodebt.
The companyhas prioritised cost savings and implemented key measures, includingthe recent closure of a Melbourne recycling site and consolidation ofthe Perth office.
Lithium Australiahas also restructured its executive leadership team, with a clearfocus on defining roles and responsibilities to maximise the corecapabilities within the team.
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Proactive Investors
JonathanJackson
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jonathan@proactiveinvestors.com
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