Canada Lithium has completed a pre-feasibility study for its Quebec lithium project and expects to complete the full feasibility study by the first quarter of 2011.
The pre-feasibility study predicts that the operation will produce about 19,300t of battery-grade lithium carbonate a year.
The company is now considering a two-stage development plan with the initial capital costs estimated at $148m.
Canada Lithium said that pilot plant metallurgical studies are under way and it plans to start engineering soon to advance the project to a feasibility study level.
The feasibility study will be funded from the company's existing cash resources of approximately $15m.