Ganfeng Lithium plans to build a $1.1 Billion trading desk
Derivatives will be used to lower the risks of cross-border investments and to enhance financial stability, the Chinese producer said.
Resource estimates for the Authier lithium property are 40% higher than historical estimates, Montreal-based Glen Eagle Resources reported Wednesday. New NI 43-101-compliant numbers show 4.17 million tonnes of lithium graded at 1.04% (indicated) and 2.29 million tonnes grading 1.00% in the inferred category, based on a cutoff grade of 0.8% Li2O.
The Authier project is located 45 kilometres north of Val d’Or, Quebec.
“The base case cut-off has been defined using a conceptual economic model based on a 2,500 tpd open pit mining and concentration scenario to produce a 6% Li2O spodumene concentrate. The mineral resources were evaluated using analytical results from recent diamond drill holes completed by Glen Eagle Resources Inc. and from historical drill holes completed since the 1960’s by different operators on the project,” the company states.
Glen Eagle expects to release drilling results from its current 4,000m exploration program over the next few months. For more details click here
