Avalon Unveils Video Rendering for the Thunder Bay Lithium Project Following PEA Completion
Toronto, Ontario--(Newsfile Corp. - September 17, 2024) - Avalon Advanced Materials Inc. (TSX: AVL) (OTCQB: AVLNF) ("Avalon" or the "Company") is pleased to share the release of a new video rendering showcasing the design and layout of the proposed processing facility at the Lake Superior Lithium Project in Thunder Bay, Ontario (the "Project").
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https://www.youtube.com/watch?v=nO4ak5shWVo
The video rendering highlights the facility's innovative battery-grade lithium hydroxide conversion process, starting with spodumene transported via rail to storage. The material is then heated in a calciner to transform it into beta spodumene. After cooling and grinding, it undergoes pressure leaching to produce lithium carbonate, which is converted and purified into lithium hydroxide. The final product is crystallized, dried, and packaged for market. The video also illustrates the management of the byproduct, analcime, which is temporarily stored on-site before being transported off-site for alternative uses. The design provides a foundation for future expansions and represents flexibility in meeting the evolving needs of the Project.
The video rendering and detailed findings of the Preliminary Economic Assessment ("PEA") are available on Avalon's website.
The rendering follows the successful completion of the Project’s PEA, which demonstrates strong economic viability and strategic importance to the North American electric vehicle (EV) supply chain.
Key Highlights of the PEA:
- After-tax Net Present Value ("NPV"): $4.1 billion at an 8% discount rate
- After-tax Internal Rate of Return ("IRR"): 48% over 30 years
- Total Capital Cost ("CAPEX"): $1.3 billion
"With the completion of the PEA, we are one step closer to realizing a project that is an investment in advanced manufacturing for Ontario, and an investment in the energy security for North America. The video rendering is a materialization of our plans to establish this important project," said Scott Monteith, CEO of Avalon.
About Avalon Advanced Materials Inc.
Avalon Advanced Materials Inc. is a Canadian advanced manufacturing company focused on vertically integrating the Ontario lithium supply chain. The Company, through its joint venture with SCR-Sibelco NV, is currently developing its Separation Rapids lithium deposit near Kenora, ON, while also continuing to advance the Snowbank lithium and Lilypad lithium-caesium projects. Avalon is also working to develop its Nechalacho rare earths and zirconium project located in the Northwest Territories. This deposit contains critical minerals for use in advanced technologies in the communications and defense industries among other sectors.