CleanTech Lithium PLC (AIM:CTL, OTCQX:CTLHF) has announced a leadership transition with Dr Steve Kesler stepping into the interim CEO role following the resignation of Aldo Boitano. Boitano's departure was due to his failure to disclose a loan secured against his holdings in the company. Despite this change, Kesler has reassured stakeholders that the company's operations in Chile, including critical projects like drilling and environmental work, will proceed without disruption.
With over three decades of experience in the Chilean mining sector, Kesler is poised to guide CleanTech Lithium through this transition smoothly. Boitano will remain involved as a consultant, ensuring the continuity of key relationships. The company is also in the process of searching for a new CEO to bolster its efforts towards an ASX listing, marking a significant step in its growth trajectory.
Technological advancements remain a cornerstone of CleanTech Lithium's strategy. The company has successfully produced lithium chloride using its direct lithium extraction process, a notable achievement in the clean energy space. Efforts are now concentrated on refining this product to battery-grade lithium carbonate at their pilot plant, with plans to ship the refined product to Chicago for further conversion. Kesler highlighted that discussions with potential off-takers will gain momentum following the completion of the Pre-Feasibility Study (PFS), which will showcase the resource's size and economic viability.
Despite the volatile lithium market, Kesler expressed confidence in CleanTech Lithium's competitive edge, attributed to its low operational costs. The company's cost structure is designed to sustain profitability across various price scenarios, positioning it favorably against current market prices. This resilience and strategic focus on cost efficiency and technological innovation underscore CleanTech Lithium's commitment to leading the charge in sustainable lithium production, a critical component in the global transition to clean energy.
