Cobre Montana – this lithium extraction company is evolving…
The upcoming shareholder meeting for Cobre Montana NL (ASX: CXB) is important in the company’s evolution. For the shareholders to make their will known to the board, shareholders are encouraged to vote at the annual general meeting, to be held on July 15/15 in Belmont, Western Australia. The notice of the meeting is here.
The company had announced on May 20, 2015 that it had made a breakthrough in lithium extraction technology, to produce continuous, steady state production of lithium carbonate from micas, using hydrometallurgical processes. This breakthrough removes the need for roasting, an energy intensive and costly process. CSB’s alternative revolutionary process should reduce the direct costs, which reduces the overall risk and increases the potential gross margin.
The next step in the mining process is to continue testing to enable Cobre Montana to commercialize the laboratory results out onto the shop floor. A laboratory result is one thing – large scale commercialized production is completely different. There will no doubt be stops and starts along the way, normal for the roll-out of any new technology, but here it’s important to keep an eye on the long game.
As part of this roll-out, product will be sent to independent third parties for testing, evaluation and feedback. This process should continue throughout 2015.
Prior to that May/15 announcement, the company announced Mr. George Bauk would join the board as non-executive chairman, another key step in the company’s evolution. According to the press release, Mr. Bauk is a resource industry professional with more than 25 years’ experience in the development of mining projects and teams, and particular expertise in the development of critical metals projects.
Cobre has a technical alliance with Strategic Metallurgy P/L to commercialize disruptive lithium extraction technology, and it has a non-binding Heads of Agreement with European Metals Holdings Limited to process lithium mineralisation in the Czech Republic on a 50/50 JV basis. In addition, Cobre has strategic alliances with Pilbara Minerals Limited, Focus Minerals Limited and Tungsten Mining NL, to investigate lithium and rare metals in prospective locations of Western Australia close to well-developed infrastructure. Cobre also has lithium exploration assets near Greenbushes and Ravensthorpe in Western Australia.
At the upcoming meeting, the shareholders will be asked to approve the compensation to be paid to Mr. Bauk and the rest of the leadership team, who will be responsible for leveraging the JV with Strategic Metallurgy and exploring the properties. With the “say on pay” movement gaining momentum, the shareholders owe it to themselves to read the statement and vote at the meeting. The directors need feedback from the shareholder to help the company grow. Cobre’s shareholder meeting is the next step in its growth.
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