CleanTech Lithium reports a wider loss as Laguna Verde advances

CleanTech Lithium ($CTL)’s first-half loss increased to £3.05 million from £1.93 million, despite lower administrative costs. Higher finance costs and a foreign-exchange loss, compared with a gain a year earlier, weighed on the result. Cash at the half-year end was £2.43 million, up from £1.84 million at the previous year end.

The company continued progressing Laguna Verde in Chile and reported agreed terms for a 40-year lithium operating contract. Final granting remains subject to the required review, so the contractual progress is not the same as an operating project or completed permitting. A £5.3 million fundraising supported the business, with part received after the reporting period. Significant development funding and execution requirements remain ahead of production.

Sources:

• CleanTech Lithium — half-year results, RNS