Standard Lithium was among the 2018 Venture 50 companies
The Arkansas Smackover Project uses an innovative process to extract lithium
Hindenburg Research criticizes the company
What is the company doing?
The company Standard Lithium researches, processes and develops lithium brines. The Canadian company, headquartered in Vancouver, Canada, was founded in 1998. The methods that Standard Lithium uses to mine the lithium are generally not only revolutionary, but also very environmentally friendly, as RockInvestment explains. In 2018, Standard Lithium was recognized as one of the Venture 50 companies. The Venture 50 is a ranking of the top performing companies on the TSX Venture Exchange over the past year. The ranking consists of ten different companies from each of the five industry sectors, selected based on a number of criteria.
Standard Lithium’s flagship project
The Canadian technology and lithium development company’s flagship project is the Arkansas Smackover Project. Brine has been extracted here in southern Arkansas for over 60 years to extract bromine and other minerals. “The same brine from which almost half of the world’s bromine is extracted is also rich in lithium, but because the geographic, climatic and chemical conditions of the brine do not lend themselves to the traditional process of lithium extraction from brine (large evaporation ponds), the used by mining companies in South America, it has not yet been developed commercially,” the company said on its website. Standard Lithium is already the world leader in Direct Lithium Extraction (DLE) technology. The company developed the state-of-the-art “LiSTR” DLE process specifically for the extraction of the so-called smackover resources. “Standard Lithium has developed a patented process using a solid ceramic adsorbent material with a crystal lattice capable of selectively pulling lithium ions from the Smackover brine,” the company states.
Standard Lithium and Hindenburg Research
In February 2022, investment research firm Hindenburg Research published a report harshly criticizing Canadian company Standard Lithium. One of the points of criticism, for example, is that Standard Lithium itself states that the process used is protected by copyright. However, according to research by Hindenburg Research, the company only has three patent applications that were acquired in 2018. The management team is also criticized in the report. For example, it revealed that while the company’s CEO, Robert Mintak, considers himself a “pioneer in the fast-moving lithium space,” he spends most of his time interviewing, attending conferences and appearing on CNBC .
Standard Lithium itself responded to the investment research firm’s criticism with a press release. The report is said to be misleading and false, the statement said. “Standard Lithium believes the report is intended to clearly benefit Hindenburg Research, which has itself disclosed that it will benefit if Standard Lithium’s share price falls. Standard Lithium cautions investors not to base their decisions on this report and instead strongly encourages them to consult credible and knowledgeable sources,” the Canadian company said. Criticism of the company’s CEO, Robert Mintak, is also clearly rejected. He has assembled a large and dynamic team with broad and diverse skills and management is pursuing a clear strategy, led by the CEO.
E. Schmal / Editor finanzen.net
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