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Prairie Lithium Limited (ASX:PL9)

ALERT: Price-sensitive ASX Announcement for PL9
Current share price for PL9 : $0.006 -0.001 (-14.29%)+
Announcement
Release
31 Oct 2025 9:14AM
Price at Release
$0.007
Full Release
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Summary
Prairie Lithium Limited, formerly known as Arizona Lithium, provided a quarterly report for the period ending 30 September 2025. They reported on significant progress in their Prairie Lithium Project, including the commencement of fabrication for a Direct Lithium Extraction (DLE) unit after receiving approval from the Saskatchewan Ministry of Energy and Resources. They entered into a Memorandum of Understanding with Long Creek Rail to access North American markets via rail infrastructure and announced a US$5 million non-dilutive raise through the sale of the Big Sandy Lithium Project and the Lithium Research Centre. A key highlight was the signing of an offtake agreement with Stardust Power Inc., USA, for 6,000 Metric Tons of Lithium Carbonate Equivalent (LCE) per year. The report included a detailed Appendix 5B Cash Flow Report, indicating a net cash inflow from financing activities and providing a strategic financial overview of their operations, investments, and financing status.
Key Points
  • Fast-tracked Prairie Lithium Project with DLE unit fabrication approved.
  • Signed MOU with Long Creek Rail for market access.
  • Completed name change from Arizona Lithium to Prairie Lithium.
  • Secured US$5 Million from selling Big Sandy Lithium Project.
  • Conducted strategic meetings with North American and Asian partners.
  • Signed an offtake agreement with Stardust Power Inc. for LCE supply.
  • Net increase in cash and cash equivalents reported at the end of the period.
  • Appendix 5B detailed cash flow report provided.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.