JOHANNESBURG (miningweekly.com) – TSX-listed RB Energy, which was formed earlier this year through the merger of Canada Lithium and Sirocco Mining, on Monday, announced that no “fatal flaws” had been found during an independent technical process audit of its Quebec Lithium (QLI) operation.
The company had commissioned SGS Canada to conduct an engineering review and capability assessment of the processing operations at the operation to achieve nameplate production.
The technical audit reviewed the commissioning progress of the process plant, confirming design parameters and optimising operational performance.
“The audit concluded that there are no 'fatal flaws' and that, with the implementation of all improvements and modifications identified, QLI can achieve nameplate production levels of 20 000 t/y of lithium carbonate,” the company pointed out.
Meanwhile, RB Energy also announced that it planned to undertake a private placement with a syndicate of agents co-led by BMO Capital Markets and Dundee Securities to complete an offering of between C$78-million and C$88-million in secured convertible debentures.
The offering would close on or about September 30 with the debentures maturing on October 31, 2019.