Further to the announcement of Cypress Development Corp (CYP.V) announcing the Fifth Judicial Court of Nevada ruled in favor of Cypress, the company and the defendant Centrestone Resources have now entered into a settlement agreement right before a hearing on April 21st. Centrestone agreed to pay US$200,000 and hand over all relevant exploration data and core while it acknowledges Cypress as the rightful owner of the title of 1,106 acres (representing approximately 20% of the total project size).
With this out of the way, the attention will return to the pre-feasibility study Cypress has been working on for a while. The current lithium price is still low so there was no real rush to complete this study as the market isn’t too interested in lithium stories at this point. It will be interesting to see the base case lithium price Cypress will use but even in a $7-8,0000/t LCE price environment the Clayton Valley project should remain viable.
Disclosure: The author has a long position in Cypress Development. Cypress also is a sponsor of the website.