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Date : 24/05/2021

Infinity Lithium Share price soared on ASX today with new announcement

Infinity Lithium Corp. Ltd. is a minerals exploration and development company. The company is focused on exploration and evaluation of potash, lithium, tungsten and tin holdings. Infinity Lithium is seeking to develop its 75% owned San José Lithium Project in Spain. The proposed fully integrated industrial Project is focused on the production of battery grade lithium chemicals from a mica feedstock that represents the EU’s 2nd largest JORC compliant hard rock lithium deposit.

This morning, INF shares surged over 38% and closed $0.095 a share on the back of an announcement coming from Madrid as Infinity Lithium met with the Vice President of the European Commission and presented the San Jose Lithium Project at the European Battery Alliance Day.

Mr Diego Pavia and Vice-President Maroš Šefčovič hosted the European Battery Alliance Day in Madrid, which showcased the five industrial projects that comprise the Battchain initiative. The Spanish consortium, which includes San José, covers the entire battery value chain and is eligible for European funding as represented in an EOI led by EIT InnoEnergy. The presentation by Infinity’s Managing Director and CEO Ryan Parkin provided the opportunity to respond to Mr Šefčovič’s queries on the current status of the Project and highlight the essential support the Company requires from both the European Battery Alliance and the federal government.

The President of the Government of Spain recognised the critical importance of geostrategic raw materials for the EU and the existence in Spain of one of the EU’s largest lithium deposits.

INF continues to engage with major project stakeholders following the cancellation of the Investigation Permit Valdeflorez, a research permit that is required to facilitate the progression of the Project which meets the primary objectives of the EBA and the España 2050 national strategy. Given the critical nature of the government’s support, INF shares surged on the back of today’s announcement.

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