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IPI & Partners Progress to Jointly Develop Lithium Project in Utah
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Key Takeaways
IPI and partners completed tests producing battery-grade lithium carbonate from brine at Wendover, Utah.
The partners achieved a 92.9% lithium extraction rate and over 99.5% purity during lithium-rich brine testing.
Intrepid Potash will pursue studies for a proposed 5,000-metric-ton lithium facility with a 2026 decision.
Intrepid Potash, Inc. (IPI - Free Report) , Aquatech International, and Adionics recently reported a key achievement in the joint lithium development project at the Wendover, UT, facility. The test work to produce a battery-grade lithium carbonate from byproduct brine was completed successfully.
The test results have demonstrated the viability of the process to convert brine to battery-grade lithium carbonate at the Utah facility. The test achieved a lithium extraction rate of 92.9% and a lithium chloride purity above 99.5%.
In the backdrop of the United States reprioritizing an increase in its production of critical minerals, direct lithium extraction (DLE) technology’s advancements have proven beneficial to the partnership of Aquatech and Adionics. During the additional testing, Aquatech successfully converted the lithium-rich brine to a ≥99.5% lithium carbonate product.
The companies, following the successful testing, will keep moving forward with the existing Joint Development Agreement. The agreement has laid down a framework to conduct feasibility studies and detailed engineering for a proposed 5,000-metric-ton lithium extraction facility, targeting a final investment decision in 2026. It also includes advancement of the project design and development of the project, with negotiation of terms to enable construction and operation of the proposed project.
The project will derive strategic advantage from using a part of Intrepid's existing infrastructure in Wendover, UT, Aquatech's expertise to design, develop and operate a lithium facility, and Adionics' DLE technology to convert Intrepid's post-process brine to lithium carbonate.
IPI’s stock has gained 15.9% over the past year compared with the industry’s 1% growth.
Image Source: Zacks Investment Research
IPI’s Zacks Rank & Other Key Picks
IPI currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the Basic Materials space are Agnico Eagle Mines Limited (AEM - Free Report) , Kinross Gold Corporation (KGC - Free Report) and Avino Silver & Gold Mines Ltd. (ASM - Free Report) .
The Zacks Consensus Estimate for AEM’s 2025 earnings is pegged at $7.87 per share, indicating a rise of 86.05%. Its earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with an average surprise of 11.63%. AEM’s shares have gained 131.5% over the past year.
The Zacks Consensus Estimate for KGC’s 2025 earnings is pinned at $1.68 per share, indicating a 147.06% year-over-year increase. Its shares have surged 210.7% over the past year.
The Zacks Consensus Estimate for ASM’s 2025 fiscal-year earnings is pinned at 17 cents per share, indicating a 13.33% year-over-year increase. ASM’s shares have gained 591.3% over the past year.
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IPI & Partners Progress to Jointly Develop Lithium Project in Utah
Key Takeaways
Intrepid Potash, Inc. (IPI - Free Report) , Aquatech International, and Adionics recently reported a key achievement in the joint lithium development project at the Wendover, UT, facility. The test work to produce a battery-grade lithium carbonate from byproduct brine was completed successfully.
The test results have demonstrated the viability of the process to convert brine to battery-grade lithium carbonate at the Utah facility. The test achieved a lithium extraction rate of 92.9% and a lithium chloride purity above 99.5%.
In the backdrop of the United States reprioritizing an increase in its production of critical minerals, direct lithium extraction (DLE) technology’s advancements have proven beneficial to the partnership of Aquatech and Adionics. During the additional testing, Aquatech successfully converted the lithium-rich brine to a ≥99.5% lithium carbonate product.
The companies, following the successful testing, will keep moving forward with the existing Joint Development Agreement. The agreement has laid down a framework to conduct feasibility studies and detailed engineering for a proposed 5,000-metric-ton lithium extraction facility, targeting a final investment decision in 2026. It also includes advancement of the project design and development of the project, with negotiation of terms to enable construction and operation of the proposed project.
The project will derive strategic advantage from using a part of Intrepid's existing infrastructure in Wendover, UT, Aquatech's expertise to design, develop and operate a lithium facility, and Adionics' DLE technology to convert Intrepid's post-process brine to lithium carbonate.
IPI’s stock has gained 15.9% over the past year compared with the industry’s 1% growth.
Image Source: Zacks Investment Research
IPI’s Zacks Rank & Other Key Picks
IPI currently carries a Zacks Rank #2 (Buy).
Some other top-ranked stocks in the Basic Materials space are Agnico Eagle Mines Limited (AEM - Free Report) , Kinross Gold Corporation (KGC - Free Report) and Avino Silver & Gold Mines Ltd. (ASM - Free Report) .
At present, AEM and KGC sport a Zacks Rank #1 (Strong Buy) each, while ASM carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for AEM’s 2025 earnings is pegged at $7.87 per share, indicating a rise of 86.05%. Its earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with an average surprise of 11.63%. AEM’s shares have gained 131.5% over the past year.
The Zacks Consensus Estimate for KGC’s 2025 earnings is pinned at $1.68 per share, indicating a 147.06% year-over-year increase. Its shares have surged 210.7% over the past year.
The Zacks Consensus Estimate for ASM’s 2025 fiscal-year earnings is pinned at 17 cents per share, indicating a 13.33% year-over-year increase. ASM’s shares have gained 591.3% over the past year.