CleanTech Lithium PLC (“CleanTech Lithium” or “CleanTech” or the “Company”) (AIM: CTL, Frankfurt:T2N), an exploration and development company advancing sustainable lithium projects in Chile, announces that an application for an advance recovery of VAT in Chile has been successful and approximately £1.01 million has been received by the Company.
Highlights:
- CleanTech Lithium’s wholly owned subsidiary, Atacama Salt Lakes SpA (“ASL”), has received approximately CLP$1.25 billion (equivalent to approx. GBP £1.01 million) representing input VAT already incurred on the Laguna Verde project.
- Ordinarily, recovery of input VAT requires VATable sales to be made, however in 2024 ASL applied to the Ministry of Economy for eligibility to recover VAT in advance of sales. This involved separate approvals from the Ministry of Economy, the Servicio de Impuestos Internos (Chile Tax authority) and the Treasury.
- A substantial part of the VAT claim was paid and ASL should continue to recover VAT from costs incurred on the project on a timely basis. The VAT receipts will be reimbursed from future export sales from Laguna Verde.
Ignacio Mehech, Chief Executive Officer of CleanTech Lithium said: “To receive this VAT refund, along with support from the Ministry of Economy, demonstrates the Chilean Government’s commitment to our Laguna Verde project. The team has worked diligently to achieve this outcome and the funds will strengthen our financial position as we continue to progress towards the completion of the PFS, following the recent agreement of the long term operating contract (CEOL) for Laguna Verde.”
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For further information contact: |
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CleanTech Lithium PLC |
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Ignacio Mehech/Gordon Stein/Nick Baxter |
Office: +44 (0) 1534 668 321 Mobile: +44 (0) 7494 630 360 Chile office: +56 9 312 00081 |
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Beaumont Cornish Limited (Nominated Adviser) Roland Cornish/Asia Szusciak |
+44 (0) 20 7628 3396 |
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Istar Capital Limited (Joint Broker) Daniel Fox-Davies |
+44 (0) 20 3884 8450 |
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Canaccord Genuity (Joint Broker) James Asensio |
+44 (0) 20 7523 4680 |
Beaumont Cornish Limited (“Beaumont Cornish”) is the Company’s Nominated Adviser and is authorised and regulated by the FCA. Beaumont Cornish’s responsibilities as the Company’s Nominated Adviser, including a responsibility to advise and guide the Company on its responsibilities under the AIM Rules for Companies and AIM Rules for Nominated Advisers, are owed solely to the London Stock Exchange. Beaumont Cornish is not acting for and will not be responsible to any other persons for providing protections afforded to customers of Beaumont Cornish nor for advising them in relation to the proposed arrangements described in this announcement or any matter referred to in it.
Notes
CleanTech Lithium (AIM:CTL, Frankfurt:T2N) is an exploration and development company advancing lithium projects in Chile for the clean energy transition. CleanTech Lithium has two key lithium projects in Chile, Laguna Verde and Viento Andino, and exploration stage project in Arenas Blancas (Salar de Atacama), located in the lithium triangle, a leading centre for battery grade lithium production. CleanTech Lithium and the Mining Ministry in Chile have agreed the contractual terms for the Special Lithium Operating Contract (“CEOL”) for Laguna Verde, subject to final ratification.
CleanTech Lithium is committed to utilising Direct Lithium Extraction (“DLE”) with reinjection of spent brine. Direct Lithium Extraction is a transformative technology which removes lithium from brine with higher recoveries, short development lead times and no extensive evaporation pond construction. For more information, please visit: www.ctlithium.com
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