Alita Resources Ltd

Alliance Mineral Assets posts record quarterly results, inks MoU for hydroxide production

Alliance Mineral Assets Ltd (ASX:A40) managing director Mark Calderwood updates Proactive Investors on the lithium producer's record quarterly production at its Bald Hill Lithium Mine, up 68% from the December quarter last year.

"We expected this - this is nameplate production, our costs have been driven down, about a 33% decrease in cost per tonne as the production tonnages increase," says Calderwood.

He also noted Alliance's memorandum of understanding with China-based Jiangte, formed to develop the terms on which the parties will produce and sell battery-grade lithium hydroxide in a 50:50 joint venture.

The JV will enable Alliance to participate in downstream processing without any capital expenditure and will fast-track lithium hydroxide production to as early as this year.

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Price: $0.08

Market: ASX
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