InvestSMART

Prairie Lithium Limited (ASX:PL9)

ALERT: Price-sensitive ASX Announcement for PL9
Current share price for PL9 : $0.006 0 (0%)+
Announcement
Release
13 Apr 2026 9:00AM
Price at Release
$0.006
Full Release
download
Summary
Prairie Lithium Limited is set to become one of North America's first lithium brine producers, with its Direct Lithium Extraction facility nearing completion. The company has secured a binding agreement with Hydro Lithium for 100% of its Phase 1 output and reduced its capital needs through a $10 million equipment provision by Hydro Lithium. Strategically located in Saskatchewan, the project benefits from favorable mining conditions and infrastructure. Prairie Lithium plans to expand its production capacity by replicating its model across multiple pads, supported by a significant resource base and governmental support.
Key Points
  • Prairie Lithium Limited is nearing completion of its Direct Lithium Extraction (DLE) facility, with first production targeted for Q4 2026.
  • The company has secured a binding offtake agreement with Hydro Lithium for 100% of its Phase 1 production, which will produce 150 TPA LCE.
  • Hydro Lithium will also provide approximately $10 million in refining equipment, reducing Prairie Lithium's capital needs.
  • The project is strategically located in Saskatchewan, Canada, which is favorable for mining and has existing infrastructure.
  • Prairie Lithium aims to expand further by leveraging a 4.6 million tonne LCE resource base and replicating production across multiple pads.
  • The project's development is supported by strong governmental backing from both Canada and South Korea.
  • The scalable development model provides a clear pathway to substantial long-term supply growth.
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.