July 18, 2024 [crocon media – msc] Alex Wylie, CEO of Volt Lithium (TSXV: VLT, OTC: VLTLF), has navigated a unique career path from the corridors of investment banking to the helm of a company revolutionizing lithium extraction from oilfield brine. This ambitious venture aims to tap into a lucrative $6 billion opportunity over the next three to five years, positioning Volt Lithium as a key player in the green energy transition.

Wylie, whose entrepreneurial aspirations were influenced by his father’s ventures and his own financial acumen, articulated his vision and journey in a recent interview. “I always thought I’d like to be the CEO of an international company,” Wylie shared. “That’s why I got my CPA. You need to understand finance as an entrepreneur. You don’t want to get tricked by the balance sheet.” His story is deeply rooted in Alberta, Canada, renowned for its entrepreneurial spirit.

Drawing from his extensive experience at KPMG and his intrinsic drive, Wylie has orchestrated seven successful business exits: three as an employee and four as a founder. Reflecting on his career, particularly during the tumultuous post-Great Recession period in 2009, Wylie recalled, “I had a choice between sticking with a small business model or joining a much bigger startup, which turned into a multi-billion dollar company. I chose the former and sold multiple businesses.”

Wylie’s transition from Chief Financial Officer to Chief Executive Officer marked a significant shift in his career. “The transition from CFO to CEO was a major change,” he said. “It is a different experience when the buck actually stops with you.” Leveraging his background in investment banking, Wylie opted for a public market strategy over private equity, maintaining control and independence while spearheading the development of innovative lithium extraction technologies.

Volt Lithium’s strategic pivot from Allied Copper Corp to its current focus underscores Wylie’s commitment to transforming challenges into opportunities. Despite initial market skepticism, industry insiders recognized the potential of Volt Lithium’s processes. Wylie explained, “The market didn’t believe in our results, and our stock dropped. However, industry insiders saw the potential, and we went under NDA with several large oil and gas companies in the U.S.”

The core of Volt Lithium’s technology involves a two-step process: purifying brine water and extracting lithium. The company has successfully produced battery-grade lithium with a purity of 99.5%. Nonetheless, Wylie remains driven to enhance this process. “We’ve evolved so much. One of the things we do is fail a lot. We build a pilot plant, we fail all the time, and there’s nothing like failing to succeed. Each failure allows us to change a step and improve.”

Volt’s recent investment to deploy a field unit in the Delaware Basin in West Texas marks a pivotal moment in the company’s trajectory. Texas, with its vast brine water production and infrastructure, provides an ideal testing ground. “The group that invested in us last month, we’re going to the field with them in the summer and then scaling up,” Wylie noted. This initiative aims to convert brine water from a liability into a valuable resource, addressing both water and energy needs.

Wylie highlighted the environmental and economic advantages of this approach. “Ultimately, you get very clean water that can be used for irrigation, manufacturing, and the power industry. The manufacturing industry in Texas alone consumes 900 million gallons of water daily, and the power industry consumes 500 million gallons daily.”

By utilizing flared natural gas for power, Volt Lithium aligns its operations with sustainability goals while benefiting from low-cost energy. This strategic advantage positions the U.S. ahead of traditional lithium producers in regions like South America’s Lithium Triangle, where resources are scarcer and more expensive.

Volt Lithium’s efficient use of existing oil and gas infrastructure reduces capital expenditure, with an estimated $20 million required for phase one production plans. “Our upfront cost to go full-scale commercial is $20 million for phase one production plans. To scale up, you just build more,” Wylie explained. Current test results indicate that Volt can produce lithium from low-concentration brine at approximately $2,900 per ton.

As Volt Lithium progresses, the company anticipates significant deliverables in the near future. “It is a $6 billion cash flow opportunity within the next three to five years, and we’re a $20 million company. We’ve had to stay quiet for a long time, but now we’re starting to talk about our results from scaling up,” Wylie said. This optimism is reflected in the market, as Volt Lithium’s stock recently surged by 37% on the Canadian stock exchange.

Scaling-Up Production Capacity

Volt Lithium Corp. has successfully scaled its production capacity to an impressive 96,000 liters per day, equivalent to 600 barrels per day. This represents a remarkable 100-fold increase in processing capabilities. The strategic investment from a U.S. partner, finalized on May 2, 2024, has enabled Volt to scale operations at its Field Simulation Centre in Calgary, Alberta. This scale-up is in preparation for the deployment of the first field unit in the third quarter of 2024.

Strategic Position in the Permian Basin

The Permian Basin, producing 19 million barrels of lithium-infused brine daily, stands out as a critical area for Volt’s operations. According to Alex Wylie, President & CEO of Volt, the scaling-up of the Field Simulation Centre accelerates the company’s trajectory towards becoming a significant lithium producer in North America. The Permian Basin offers the necessary infrastructure, eliminating the need for extensive capital investment in drilling wells, building water management facilities, and creating pipeline networks.

Partnering with existing producers in the Permian Basin allows Volt to achieve cash flow and production growth more swiftly and cost-effectively than independent operations. This strategic approach mitigates exploration risks and facilitates an earlier commencement of commercial operations.

DLE Technology and Operational Milestones

Volt’s proprietary DLE technology has undergone extensive validation by ALS Canada Ltd, a leading independent testing organization. The technology has achieved 99% lithium extraction, with significant operational improvements, including:

1. Volume Scale-Up: The system now processes over 4,000 liters per run, equating to 96,000 liters per day, a 100-fold increase in capacity.
2. Extraction Time Reduction: The extraction time from oilfield brine has been halved to 60 minutes, enhancing throughput capacity.
3. Continuous Processing: The Field Unit operates 24/7, ensuring continuous lithium extraction rather than batch processing.

Future Prospects and Commercial Operations

The field unit, set for deployment in Q3 2024, is a scaled prototype representing a 1:166 scale of future commercial production. Its modular design allows for scalable operations to process commercial levels of brine through additional modules and reduced extraction times. Based on historical modeling, the first full-scale commercial unit is expected to process 100,000 barrels per day, positioning Volt as a near-market, low-cost producer.

Volt’s phased approach to scaling operations, combined with extensive testing at the Field Simulation Centre and strategic investment partnerships, mitigates project risks and accelerates the timeline to full-scale commercialization. This strategy minimizes capital at risk while validating the proprietary DLE technology before large-scale deployment.

Volt Lithium Corp.’s advancements in DLE technology mark a pivotal moment in the company’s journey towards becoming a major player in North America’s lithium production landscape. By leveraging the vast resources of the Permian Basin and focusing on sustainable and efficient extraction methods, Volt is poised to meet the growing demand for high-quality lithium essential for the burgeoning battery market.

Read the press release : https://www.globenewswire.com/en/news-release/2024/07/17/2914301/0/en/Volt-Lithium-Achieves-Significant-Operational-Milestone-with-the-Scale-Up-of-its-Field-Unit-to-96-000-Litres-Per-Day-Paving-the-Way-for-Operations-to-Commence-in-Q3-2024.html

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May 25, 2023 [crocon media – dgoldsmith, msch] Volt Lithium Corp. (TSX-V: VLT, OTCQB: VLTLF, FSE: I2D) is thrilled to report the highly successful results of its pilot project, which tested the company’s proprietary direct lithium extraction (DLE) technology in a simulated commercial environment. The project showcased Volt’s ability to achieve remarkable lithium recoveries of 90% even at concentrations as low as 34 mg/L. Furthermore, under simulated operating conditions with concentrations of 120 mg/L, recoveries of up to 97% were achieved with operating costs under CAD$4,000 per tonne, assuming sustained average annual production of 20,000 tonnes of lithium hydroxide monohydrate (LHM). These groundbreaking results confirm Volt’s position as a game-changer in the North American lithium production industry.

Volt’s CEO, Alex Wylie, expressed his gratitude to the R&D, operational, and engineering teams for their dedicated efforts in executing this pivotal phase. He emphasized that Volt’s proprietary technology is a true game-changer, positioning the company as the frontrunner in commercial lithium production from oilfield brines, with plans to commence operations in the second half of next year.

The successful pilot project verified the extraction capabilities of Volt’s IES-300 technology and determined the operating costs for the DLE process, essential factors in evaluating commercial viability and profitability. The company consistently achieved extraction recoveries of up to 90% at low lithium concentrations of 34 mg/L. Simulating pilot conditions with brine concentrated to 120 mg/L yielded lithium extraction results as high as 97%, with operating costs below CAD$4,000 per tonne. Volt intends to validate these results in practice by processing brines with 120 mg/L concentrations in the coming weeks.

Volt’s Rainbow Lake property boasts a substantial inferred mineral resource of 4.3 million tonnes of lithium carbonate equivalent (LCE) (4.9 million tonnes of LHM) with lithium concentrations as high as 121 mg/L. This resource abundance provides Volt with ample brine sources at varying lithium concentrations to advance commercial development and secure the necessary refining infrastructure for sustained production of LHM.

Volt’s proprietary DLE technology comprises a two-stage process. In the first stage, the oilfield brine undergoes treatment to remove up to 99% of contaminants, ensuring a clean brine for the DLE process. The second stage involves using Volt’s IES-300 technology to extract lithium from the brine, resulting in a lithium chloride solution that will be upgraded to LHM, a crucial raw material for batteries, particularly electric vehicle batteries. Volt’s IES-300 technology minimizes reagent usage during the extraction process.

The successful pilot project and ongoing efficiency improvements have contributed to lower operating costs, currently under CAD$4,000 per tonne. As Volt continues to drive down operating costs, it establishes a solid foundation for sustainability and long-term profitability.

With its achievement of 90% recoveries at low lithium concentrations, Volt has unlocked multiple oilfield reservoirs across North America for commercial lithium extraction using its DLE process. The company’s future plans include establishing a permanent pilot plant to refine the IES-300 technology, optimizing reagent usage, and further improving operating conditions to enhance economics and support the commencement of commercial operations.

Volt will focus on upgrading its resource estimate and preparing a Preliminary Economic Assessment based on the successful extraction and operating results from the pilot project. Additionally, the company will advance the engineering design phase to determine optimal commercial parameters for the DLE process, with the goal of initiating commercial production by the second half of 2024.

The press release contains scientific and technical information prepared under the supervision of qualified persons within the meaning of National Instrument 43-101. Doug Ashton, P.Eng, and Meghan Klein, P.Eng of Sproule Associates Limited have overseen the scientific and technical aspects presented.

Read the press release : https://www.globenewswire.com/news-release/2023/05/24/2675248/0/en/VOLT-LITHIUM-CORP-ANNOUNCES-SUCCESSFUL-PILOT-PROJECT-CONFIRMING-90-LITHIUM-RECOVERY-COMMERCIAL-ECONOMICS-AND-UNPRECEDENTED-BREAKTHROUGH.html

May 18, 2023 [crocon media – dgoldsmith, msch] In a landmark development for North America’s lithium mining sector, Volt Lithium Corp. (TSX-V: VLT, OTCQB: VLTLF, FSE: I2D) has made a monumental discovery at the Rainbow Lake Property, identifying an inferred mineral resource of 4.3 million tonnes of Lithium Carbonate Equivalent (LCE). This significant finding is highlighted in the company’s initial resource report, hinting at the promising future of lithium extraction in North America.

The resources have been found within the Sulphur Point, Muskeg, and Keg River aquifers, known collectively as the Elk Point Group, belonging to the Devonian Age. The Rainbow Lake Property boasts a vast brine deposit, with a staggering estimate of 99 billion barrels. This brine is not just abundant, but rich in lithium concentrations, recording highs of 121 mg/L and an impressive average concentration of 51 mg/L.

This expansive resource can potentially deliver up to 215 times the estimated peak production of 20,000 tonnes per annum. Such a massive scale for the lithium asset accentuates the size and promise of this resource-rich property.

Spanning approximately 430,000 acres, the Rainbow Lake Property houses over 1,300 producing wells. These wells are set to play a pivotal role in providing the much-needed brine for mining operations, augmenting the efficiency and potential profitability of the project.

With this announcement, Volt demonstrates its strategic focus towards regions of its asset base boasting the highest lithium concentrations. These regions, as indicated in the report, are expected to stimulate strong economic returns and robust cash flows, solidifying the fiscal outlook of the project.

The unveiling of this Technical Report is a significant milestone for Volt Lithium Corp. With the valuable insights it provides, the company has a sturdy foundation to further explore and expand its high lithium concentrations, potentially leading to an increased resource estimate.

Despite the optimistic outlook, it is worth noting that this resource is currently classified as “Inferred.” This classification, although the most preliminary among mineral resource categories, is a starting point. It indicates the need for further exploration to validate the existence and economic feasibility of the mineral resources.

Also, the report clearly states that the documented mineral resources do not currently meet the standards required to be classified as mineral reserves. While this implies the necessity for additional investigations, it doesn’t undermine the exciting potential that the initial findings suggest.

The extraction methodology for lithium from brine remains unspecified in the report. This element will significantly influence the economic feasibility and environmental impact of the project. Hence, it is an aspect to keenly look forward to in future communications from the company.

In conclusion, the initial resource report signals a potential paradigm shift for Volt Lithium Corp and the North American lithium mining industry. Though there are critical aspects yet to be addressed, the report unfolds an exciting chapter in lithium mining, presenting a path of opportunities filled with promise and potential.

Read the press release : https://www.globenewswire.com/news-release/2023/05/18/2671733/0/en/VOLT-LITHIUM-CORP-ANNOUNCES-RESOURCE-REPORT-INDICATING-4-3-MILLION-TONNES-OF-LITHIUM-RESOURCE-AT-ITS-RAINBOW-LAKE-PROPERTY-WITH-CONCENTRATIONS-UP-TO-121-mg-L.html