Lithium Universe is strategically focusing on port accessibility as a pivotal factor in the selection of its potential refinery site in the Quebec province. The company's latest quarterly report, covering the period ending December 31, 2023, highlights various significant milestones achieved during these three months.

Among these accomplishments is the engagement of the global engineering firm Hatch to conduct an engineering study for the envisioned carbonate plant. Furthermore, the appointment of Victoria Vargas as the director of its Canadian subsidiary, boasting 25 years of experience in North American capital markets, adds a seasoned professional to the leadership. The establishment of a new office in Montreal, advancements in the concentrator study, and strengthened collaboration with the Quebec provincial government also mark notable progress for Lithium Universe.

An essential strategic decision highlighted in the report is the deliberate choice to prioritize lithium carbonate over lithium hydroxide, distinguishing it from several other advanced lithium projects in North America. This decision aligns with the widespread use of lithium carbonate in the burgeoning lithium iron phosphate batteries, known for their increasing adoption in electric vehicles due to cost-effectiveness.

Lithium Universe's management, led by Chairman Iggy Tan, emphasizes its considerable expertise in lithium carbonate processing. The company enlisted the services of engineering consultant Hatch, which has successfully concluded a location study for the proposed lithium carbonate refinery. This facility, expected to produce 16,000 tonnes per annum, forms an integral part of Lithium Universe's Quebec Lithium Processing Hub.

The site selection process was meticulous, considering options in over 20 municipalities before narrowing down to four finalists. The first candidate is an area along the Trans Taiga Highway in James Bay, followed by locations outside Montreal. Additionally, established mining communities such as Rouyn-Noranda and Amos are under consideration, along with the industrial area in Saguenay/Alma. This rigorous selection process applied eight criteria, with not all contenders meeting all conditions.

Certain finalists stand out for existing natural gas supplies and railway access, while all four possess available high-voltage electricity. However, there are disparities in construction costs and challenges related to services and logistics across the potential sites.

The second option, involving areas along the river between Montreal and Quebec City, was chosen due to its access to port infrastructure. Conversations have commenced with the management of Becancour Industrial Park, underscoring the strategic significance of port facilities in the final decision-making process.

As Lithium Universe navigates through these critical decisions, it remains focused on securing a site that aligns with its operational needs, economic considerations, and overall strategic vision for becoming a key player in the lithium processing landscape. The company's multifaceted approach, encompassing technical advancements, key personnel appointments, and strategic site selection, reflects its commitment to long-term success in the dynamic lithium market.