by Kyle Massey on Thursday, Nov. 8, 2018 3:43 pm 1 min read
Standard Lithium Ltd., the Canadian company with big plans for mining battery-quality lithium from the underground brine of south Arkansas at a pilot extraction plant near El Dorado, is upping its name recognition in the United States with a program through Nasdaq.
The company, based in Vancouver, has been admitted to the Nasdaq International Designation Program under the symbol “OTC – Nasdaq International Designation: STLHF.”
The new Nasdaq designation doesn’t mean the company’s stock will be listed or traded on the Nasdaq stock market, but it “provides member companies with Nasdaq’s visibility,” according to a company news release. “In short, we are working steadily to build a U.S. audience,” Standard Lithium CEO Robert Mintak told Arkansas Business. “The Nasdaq international listing is a step in that direction.”
In the release, Mintak said the company’s project development focus is on United States-based assets, and he predicted the Nasdaq exposure would “increase shareholder confidence and liquidity.”
Standard Lithium has leases on thousands of acres of brine fields in south Arkansas and has found significant lithium deposits in tests of two previously drilled oil and gas wells in the Smackover Formation brine, already the source of commercial bromine.
It’s flagship project is to install a pilot enhanced extraction facility in Union County to prove the commercial viability of new methods of lithium extraction. The company is also developing 45,000 acres for lithium extraction in the Mojave Desert in San Bernardino County, California.