Desert Lion Energy Initiates Strategic Review
Namibian lithium developer and emerging lithium concentrate producer Desert Lion Energy Inc. (TSXV: DLI) (OTCQB: DSLEF) today announced that it has ceased all operations in Namibia in light of the continued decline in lithium carbonate pricing. The Board is currently re-assessing the previously announced 3-stage execution plan and is evaluating all available options to find a sustainable path to the continued development of its Namibian Lithium Project.
The Company has also commenced negotiations with its offtake partner, Jiangxi Jinhui Lithium Co. Limited, to amend the pricing metrics under its offtake agreement in light of the current lithium carbonate pricing environment.
As previously disclosed, the Company intends to announce its Maiden Resource Estimate and Preliminary Economic Assessment prior to the end of Q3 2018.
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