08:38 AM EDT, 04/19/2024 (MT Newswires) -- Century Lithium ( CYDVF ) said Friday that the feasibility study for its Clayton Valley lithium project in Nevada is currently under review and its results will be announced soon.

The company said its feasibility study team has revised and updated estimates for a phased production approach at the project.

The revisions also included assessment and evaluation of the economic benefit of sales of the surplus sodium hydroxide produced by the chlor-alkali plant, Century Lithium ( CYDVF ) added.

Century Lithium's ( CYDVF ) lithium extraction pilot plant in Nevada is now in its third year of testing the processing of lithium-bearing claystone from the project.

Century Lithium ( CYDVF ) said it continues work toward project permitting, including the collection of baseline data collection for biology, surface and groundwater hydrology, and social impacts.

The company said it is preparing a plan of operations to initiate the National Environmental Policy Act process.

Century Lithium's ( CYDVF ) shares eased 2.9% yesterday.