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Lindsay Dudfield, Executive Director and CEO of Jindalee Resources Limited, Executed MOU with POSCO Holdings For Joint Research At McDermitt Lithium Project

JINDALEE RESOURCES LIMITED  (ASX: JRL) (Jindalee, the Company) is an Australian exploration company with Tier 1 lithium deposits in its portfolio in the United States. The Company’s core goals are to discover world-class mineral deposits and generate shareholder wealth. The United States is one of the largest marketplaces for lithium demand, and Jindalee is a leading company committed to help meet future demand. The Company is focussing efforts into developing its McDermitt lithium deposit. Jindalee Resources was listed on the Australian Securities Exchange (ASX) on 11th July 2002 and raised AUD 2.70 million. Now, it is a pure-play United States lithium company. Jindalee’s Projects: In June 2018, the Company acquired McDermitt and Clayton North, two lithium sediment projects in the United States. Both projects are 100% owned by HiTech Minerals Inc., a wholly owned, US-based subsidiary of Jindalee. Several factors attracted the Company’s interest in these projects including: Potenti...

Carbonxt Group Releases Its December 2022 Quarterly Report

R&D and Industry Activities

Carbonxt’s research and development team completed a program focusing on ‘the effects of heat treatment on Activated Carbon’ with the help of a renowned R&D service company. The research output is favourable and supports the development of Carbonxt’s new ACP plant in Kentucky.

CARBONXT GROUP also attended the North American Biochar and Bioenergy Conference about biomass utilisation for bioenergy production, pertaining to the Company’s focus on ESG objectives and the use of renewable sources of raw material for producing Powdered Activated Carbon (PAC) at its Black Birch plant.

The COMPANY expects moderation of prices for Activated Carbon products manufactured overseas, given the decrease in ocean shipping rates to import products into the US. However, industrial customers continue to show a strong preference for domestically produced PAC and Activated Carbon Pellet (ACP) products.

Customer receipts

Customer receipts decreased by 24% compared to the previous quarter due to the installation of a new mill (with higher capacity) at the Black Birch PAC facility and an upgrade at Arden Hills pellet plant to increase product quality and higher throughput. The works at both plants are complete, and the production levels have returned to normal.

Revenue and Operating Cash Flow

  • Activated Carbon Pellet and Powdered Activated Carbon revenue were down by 20% and 17%, respectively, compared to the same quarter in the previous year due to the plants’ downtime, as mentioned earlier.

Kentucky Joint Venture Progress

The majority of the development and engineering feasibility work has been completed. The Kentucky Joint Venture is now being legally documented and is expected to be completed this quarter. Carbonxt will notify further updates on the Kentucky JV.

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