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Clean TeQ Holdings Limited (ASX: CLQ) is a global metals recovery and industrial water treatment company that promotes and supplies clean energy solutions through their patented Clean-iX technology.
Clean TeQ's Sunrise Project Minerals Complex near Condobolin and Parkes, New South Wales, Australia
Currently, Clean TeQ is committed to developing their major project: Clean TeQ Nickel-Cobalt-Scandium Project, which is a laterite mineral resource rich in several metals that are critical inputs for lithium-ion batteries. The minerals complex is designed to exclusively supply the lithium-ion industry and offers nearby markets a low environmental impact, economic and cost-effective source of raw materials.
Clean TeQ’s Sunrise Project Announcement
In late September last month, CLQ announced an update to their Sunrise Battery Materials Complex in central New South Wales. The CEO announced that ongoing efforts are in place to position Clean TeQ as a leader the world’s most advanced nickel/cobalt development project. Although, the announcement highlighted that their progress with ‘Front End Engineering and Design (FEED); which is their risk assessment of key areas, specialist design of areas of the complex and procurement is behind schedule.
What is the future of Clean TeQ?
Despite slight delays, the CEO notes in previous statements that there is enormous growth in the lithium-ion battery market, and he has emphasized Clean TeQ’s Sunrise Project being the largest nickel and cobalt deposits outside of Africa.
The main drivers to the growing demands of lithium batteries are the aggressive vehicle emissions and electrical vehicle (EV) targets set by China and Europe. Clean TeQ will be well-positioned to meet the increasing demands as EV producers are assessing their supply chain for possibly a geographically closer and more cost-efficient source of lithium materials.
Considering the Sunrise Mineral Complex has extractable resources exceeding 100 million tonnes of minerals, CLQ’s strong long-term financial performance, recovery from short term underperformance, and possible increases in lithium ion-battery demands it is unlikely that Clean TeQ’s share prices will significantly decline in the future.
As of 12:32 PM AEST 08/10/19, Clean TeQ Holdings Limited shares are currently valued at A$0.280, this represents a 20.83% decrease in share prices over the period of 6 months. Despite the short-term decrease in share prices, long-term shareholders who have held shares for 5 years will be happy to see that this share price represents 440.33% increase.
Disclaimer:
This article has been prepared by the Australian Stock Report Pty Ltd (AFSL: 301 682. ABN: 94 106 863 978)
(“ASR”). ASR is part of Amalgamated Australian Investment Group Limited (AAIG) (ABN: 81 140 208 288 Level 13, 130 Pitt Street, Sydney NSW 2000).
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