- PepinNini Minerals (PNN) shares jump over 40 per cent after it reports encouraging interim results from the ongoing lithium brine blending study
- PNN is testing 2000 litres of brine from its own leases on the Rincon and Incahuasi salares in Argentina
- After two months of testing the company reported a lithium ion concentration of 8500 milligrams per kilogram for the blended brine
- The company labelled the early results pleasing, saying they suggest that the brine blending process is viable and highly effective
- PNN shares are up 41.7 per cent to 42.5 cents each at midday on Wednesday
PepinNini Minerals (PNN) shares are up over 40 per cent after it reported encouraging interim results from the ongoing lithium brine blending study.
The study is being conducted in Chile, where PNN is testing 2000 litres of brine from its own leases on the Rincon and Incahuasi salares in Argentina.
The company reports after eight weeks of testing it had managed to produce a lithium ion concentration of 8500 milligrams per kilogram for the blended brine.
PepinNini labelled the early result pleasing, noting its 14 times higher than Incahuasi brine and seven times that of Rincon brine.
“While the testing has another month to complete, the preliminary
results suggest that the brine blending process is viable and highly
effective,” the company said in a statement.
PNN explained using the different sulcate and calcium concentrates in the brines allows it to obtain a higher concentration of lithium at a lower cost.
“Importantly it is industry best practice to conduct brine blending studies in order to evaluate and optimise future lithium chemical production,” PNN said.
Next steps for the company will be to scale up the testing so it can obtain a lithium carbonate battery grade sample from the site.
Shares in PepinNini Minerals shot up over 40 per cent following today’s announcement, adding over 12 cents to PNN’s share price.
Company shares were still trading 41.7 per cent in the green at 42.5 cents each at 12:01 pm AEST on Wednesday.