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(Sharecast News) - CleanTech Lithium, a company focused on lithium exploration and development in Chile, updated the market on its application for a special lithium operating contract (CEOL) for the Laguna Verde project on Tuesday, as well as its amended 2024 interim financial results, revised in preparation for a dual listing on the ASX.
The AIM-traded firm said it remained on track to submit its CEOL application by early January, ahead of the Chilean government's extended deadline of 31 January.
It noted substantial progress in assembling the detailed documentation required, which included extensive technical, operational, and financial data from several years of activity at Laguna Verde.
CleanTech said it believed it was well-positioned to meet the government's criteria, potentially allowing it to bypass a public tender process and engage in direct discussions with the Mining Ministry.
Separately, CleanTech announced amendments to its unaudited interim financial results for the six months ended 30 June.
Following an independent review required for the ASX listing, the company revised its treatment of commissions and warrants related to loan notes issued earlier in the year.
The board said the fair value of the items was now recorded as part of the loan note liability and amortised over the loan's life, reducing the reported liability to 1.5m from 2.1m, and the operating loss for the period to 2.2m from 2.8m.
Other adjustments were limited to typographical corrections, or those resulting from this reinterpretation.
At 0901 GMT, shares in CleanTech Lithium were up 2.94% at 17.5p.
Reporting by Josh White for Sharecast.com.
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