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Latitude 66 Limited (ASX:LAT)

ALERT: Price-sensitive ASX Announcement for LAT
Current share price for LAT : $0.087 0.027 (45%)+
Announcement
Release
21 Oct 2025 9:14AM
Price at Release
$0.060
Full Release
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Summary
Iondrive Limited has entered into a Binding Term Sheet with Latitude 66 Limited to apply its innovative Deep Eutectic Solvent (DES) technology to the cobalt concentrates from Latitude 66's projects in Finland. This partnership marks a significant expansion of Iondrive’s DES technology application from e-waste and battery recycling into primary mineral processing. Latitude 66's Kuusamo project holds one of Europe's largest undeveloped cobalt deposits, positioning the collaboration to support the European critical minerals supply chain. This agreement, the first of its kind for applying DES to virgin mining concentrates, will involve testing and evaluation forming part of Latitude 66's feasibility studies as they advance towards production. Both companies aim to negotiate more comprehensive agreements within 24 months, while the intellectual property of DES will remain with Iondrive.
Key Points
  • Iondrive signs Binding Term Sheet with Latitude 66 Limited.
  • Application of DES technology to Finnish cobalt concentrates.
  • First use of DES on virgin mining concentrates.
  • Support for European critical minerals supply chain.
  • Feasibility studies to form part of Latitude 66's production plans.
  • Intellectual property rights retained by respective parties.
  • Potential for expanding DES applications beyond recycling.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.