Standard Lithium Closes Impressive C$12.1M Financing; Working Towards Completion Of PFS In Q2

Building demonstration plant at Lanxess Project site 

After Standard Lithium (TSXV: SLL) (OTCQX: STLHF) (FRA: S5L) managed to arrange a C$5M (US$3.75M) convertible loan and guarantee agreement with Lanxess on October 30, 2019, management hasn’t been sitting on its hands. On February 26, 2020, the company announced that an ongoing capital raise, intended to raise C$6M, was closed at no less then C$12.1M. I found this to be very impressive as sentiment for lithium developers has recovered slightly on the back of Tesla’s unexpected positive results and following runup of the share price of the car and battery manufacturer, but is still neutral to negative. The proceedings will be used for the ongoing development of the mentioned demonstration plant, which is capital intensive.

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