Clontarf, a lithium exploration company, garners attention

Matthew Warner, a retail trader based in London with an interest in lithium, continues to buy up shares in Clontarf Energy, an exploration firm founded by John Teeling and presently managed by David Horgan. Though first reported in June, Warner’s stake acquisition has persisted, and he announced last week that he now holds 555 million shares, equivalent to 7.71%, a value slightly less than £500,000, based on the present price per share or approximately €588,800.

Political instability and threats of a coup in Bolivia don’t seem to put Warner off. Quite the contrary, it’s understandable why he might take on this risk. Bolivia is known for its 23 million metric tonnes of lithium reserves, situated within its salt flats. Clontarf is competing with firms from Russia, Europe, China, and the US to utilise this resource, aiming to meet the rising demand for lithium in the production of electric vehicle batteries and the like.

In an update from the company, Clontarf reveals it’s in the fourth stage of a five-stage plan to tap into the lithium reserves of Bolivia, working in collaboration with its partner, NEXT-ChemX. An application for the collection of bulk samples has been filed to the State Lithium Company, and the company is optimistic about obtaining high-grade lithium and magnesium samples for testing.

The process, which involves partnering with the Bolivian government and numerous other companies, is complex and is further complicated by the presence of geopolitical tensions in the competition for new resources. However, Clontarf’s chairman, David Horgan, expressed satisfaction at having an investor like Warner. Horgan praised Warner’s long-term commitment to creating a profitable high-grade lithium enterprise and aligned with the objectives of Clontarf, European offtakes, and the Bolivian people. This is a situation worth keeping an eye on.

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Written by Ireland.la Staff

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