2024 STRATEGIC UPDATE
Green Technology Metals Limited (GT1) aims to be the first producer of lithium concentrates and chemicals in Ontario, Canada, despite current market challenges.
GT1 has completed an operational review to optimize expenditure and cash outlay, focusing on critical path work streams.
The company is advancing the Seymour Lithium Project towards construction readiness, with key permitting activities well advanced.
GT1 is applying for funding through Canadian government initiatives like the Critical Minerals Infrastructure Fund (CMIF) and Strategic Innovation Fund (SIF) to support its projects.
The company plans to reduce spending significantly in 2024 while continuing to advance its projects, including the Seymour and Root Lithium Projects.
GT1's Chief Operating Officer, Matthew Herbert, will conclude his tenure on 1 March 2024, with no immediate plans to fill the position.
Drilling activities at the Junior Lithium Project and Root Bay East are scheduled for the second half of 2024, aiming to increase the resource base.
The Seymour Project has completed necessary infill drilling and is progressing towards a Definitive Feasibility Study (DFS) and a final investment decision by the end of 2024.
GT1 is working on securing government funding for infrastructure improvements and is exploring strategic partnerships and investment opportunities to support its projects.
The company's lithium projects in Ontario are strategically located near essential infrastructure and have a combined global Mineral Resource estimate of 24.9Mt at 1.13% Li2O.
This announcement is a summary of the company approved ASX announcement on 22/2/2024.