• Additional Stage 1A Activities to optimise LieNA® commercialisation pathway
• Stage 1A Activities to be fully funded via Convertible Note and R&D tax incentives
• Maturity date of Convertible Note extended to 30 September 2025

Livium Ltd (ASX: LIT) and Mineral Resources Ltd (ASX: MIN) have agreed the next steps for the commercialisation of Livium's patented LieNA® technology. The companies have completed Stage 1 Activities, including the development and operation of a pilot plant, successful refinement of high quality lithium phosphate, and a demonstration plant engineering study. Considering current lithium market conditions, Livium and MinRes have agreed to undertake additional Stage 1A Activities to optimise the development of the LieNA® technology. This will include an assessment of alternate commercialisation pathways and the selection of the preferred lithium product, potentially including battery grade lithium carbonate. The Stage 1A Activities will be fully funded through the remaining balance of MinRes' convertible note and LieNA® R&D tax incentive rebates. To allow the Stage 1A Activities to be completed, MinRes and Livium have extended the maturity date of the Convertible Note Deed to 30 September 2025. The companies continue to progress their collaboration to evaluate the preferred commercialisation pathway for the LieNA® technology.

The companies plan to license the LieNA® technology to third-parties at a target headline gross product royalty rate of 8%. The larger plant will aim to extract lithium salt at a commercial scale under the licence, with MinRes having the option to independently fund, develop, and operate the semi-commercial facility.