The stock of Standard Lithium Ltd. (SLI) gained in the pre-market after the company announced that they have signed a Letter of Intent with Koch Engineered Solutions. The stock valued at $8.98 at the time of this writing gaining more than 6.7% from the previously closed value. At the end of the last trading session the stock closed at around $8.41. The volume of the shares traded in the last trading session was approx. 2.99 million shares.
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Why did the stock of Standard Lithium Ltd. (SLI) surge in the Pre-market?
On 15th December, 2021 Standard Lithium Ltd. (SLI) announced in a press release that they have signed a Letter of Intent with Koch Engineered Solutions (KES). The purpose of the deal is to provide support by KES with pre-front end engineering design at the company’s first commercial facility situated in southern Arkansas at Lanxess facility.
The Standard Lithium Ltd. (SLI) will use and organize several business units of KES to form an Integrated Project Management Team (PMT). This will help the Standard Lithium Ltd. (SLI) to carry out pre-front end engineering design.
The Integrated Project Management Team will focus on to use the resources in the most strategic way by Koch Project Solutions, Koch Separation Solutions and Optimized Process Designs. The Integrated PMT will be designed in such a way that it will help the Company in the process of evaluation, preliminary engineering design, equipment options, budgeting, scheduling, and different project management related operations to the company’s first commercial lithium plant in southern Arkansas at Lanxess facility. As of now the proposed site which is the first commercial facility, carry out the pre-commercial operations of the Standard Lithium Direct Lithium Extraction Demonstration facility.
Effect on the stock gain:
The stock of Standard Lithium Ltd. (SLI) gained as soon as the news hit the market. Investors were seen to be responding positively to the Letter of Intent signed by both companies. This development has made the stock of the company more reliable for the investors to invest.
Conclusion:
The company is looking forward to use the resources of KES in full potential to gain maximum profitability and will help them to set up the company’s first commercial facility. This will help the company to utilize the resources of KES to increase its productivity and business operations.
