Beats me why Desert Lion Energy (DLI.v) waited until after the close on Friday to announce this:
TORONTO, Aug. 31, 2018
/CNW/ – Namibian lithium developer and emerging lithium concentrate
producer Desert Lion Energy Inc. (TSXV: DLI) (OTCQB: DSLEF) (“Desert Lion” or the “Company”) today announced that it has ceased all operations in Namibia
in light of the continued decline in lithium carbonate pricing. The
Board is currently re-assessing the previously announced 3-stage
execution plan and is evaluating all available options to find a
sustainable path to the continued development of its Namibian Lithium
Project.
The Company has also commenced negotiations with its offtake
partner, Jiangxi Jinhui Lithium Co. Limited, to amend the pricing
metrics under its offtake agreement in light of the current lithium
carbonate pricing environment.
As previously disclosed, the Company intends
to announce its Maiden Resource Estimate and Preliminary Economic
Assessment prior to the end of Q3 2018.
About Desert Lion Energy
Anyone? A clue? Emerging or submerging?