Chimera Research Group
Critical Minerals Equity Note

LibertyStream Infrastructure Partners Inc. (TSXV: LIB | OTCQB: VLTLF)
Company Update: De-Risking Event – From Lab to First Commercial Lithium Carbonate Production in The Field.

Author: Joe Gantos, Senior Analyst
Date: December 2nd, 2025
Recommendation: STRONG BUY
Target Price (12-18 mo): C$3.00 – C$5.00
Current Price: C$0.85
Market Cap: ~C$150 million
Shares Outstanding: 177,045,913 (as of August 29, 2025)
Cash (Q3 2025): C$4.8 million + $4 million from warrants exercise + grants
Previous report: LibertyStream Infrastructure Partners – The Permian Brine Disruptor Poised for Commercial Liftoff Link

LibertyStream Achieves Breakthrough: First Commercial Lithium Carbonate Production from Oilfield Brine, At Scale – in the Permian Basin, Texas

In a landmark achievement for U.S. energy independence and the green economy, LibertyStream has successfully produced the first commercial-grade lithium carbonate (Li₂CO₃) from its automated Direct Lithium Extraction (DLE) unit in the Texas Permian Basin.

This milestone, announced yesterday in a press release (BusinessWire), marks the first end-to-end field-scale production of lithium carbonate from oilfield brine in the U.S., validating the company’s proprietary DLE technology at a level that transforms it from a promising concept into a scalable, commercial reality.

Why This News is a Game-Changer for Investors?

1. First-Of-Its-Kind Validation of Field-Scale DLE Technology

LibertyStream’s achievement is not just a production milestone, it’s a technological and commercial de-risking breakthrough. For the first time, the full process has been proven on a field scale:

• Extraction: Lithium chloride is extracted from oilfield brine using proprietary DLE.
• Refinement: The extracted brine is processed on-site with the refining-unit to produce battery-grade lithium carbonate.
• Modular Design: The entire system is modular and expandable; it’s now a copy/past exercise. Automated unit that can be deployed at existing oil wells across the Permian and other basins.

Significance: This proves the process works at scale, reduces capital risk, and paves the way for rapid deployment across thousands of existing oilfield sites.

This is the first time lithium carbonate has been produced from brine in a modular, field-based system. It’s a critical step toward commercialization and a major validation of our technology.

“Our team at LibertyStream has achieved a rare commercial milestone and we are firmly on the path toward expansion across critical U.S. oilfields in the Permian Basin in Texas and the Bakken in North Dakota,” said Alex Wylie, President & CEO of LibertyStream. “Our automated refining unit in the Permian Basin has now demonstrated that our technology and process – converting oilfield brine into high-purity lithium – has exceeded expectations.”

2. Technical and Commercial De-risking

The most immediate importance is the complete validation of the Direct Lithium Extraction (DLE) process at a field scale.

• End-to-End Field Production: LibertyStream’s announcement confirms they have completed the entire process, from extracting lithium chloride from the brine using their proprietary DLE unit to refining it into the final product, lithium carbonate (Li_2CO_3), all at a single, modular field location. This moves the technology past the pilot stage and into the final phase of operational de-risking necessary for full-scale commercial deployment.
• Modular Scalability: The DLE unit is designed to be modular, meaning the process can be replicated and deployed across numerous existing oilfield sites. This modular approach significantly accelerates the path to mass production and reduces initial capital costs.

3. A Strategic Solution to U.S. Critical Mineral Security

With the U.S. facing a growing lithium supply deficit, LibertyStream offers a domestic, secure, and scalable solution to meet EV and energy storage demand.

• Current U.S. Lithium Production: Less than 10,000 tonnes/year.
• Projected Demand by 2030: ~500,000 tonnes/year.
• LibertyStream’s Potential: Up to 220,000 tonnes/year across the Permian and Bakken basins.

This means LibertyStream is positioned to capture a significant share of the domestic lithium supply chain, reducing reliance on foreign sources (China, Chile, Australia).

National Security Angle: The company has already confirmed it is targeting defense contractors and industrial customers, positioning lithium as a strategic national asset.

4. Turning Waste into Wealth – The “Waste to Cash” Revolution

The real power of LibertyStream’s model lies in its economic and environmental innovation:

• Oilfield Brine is a Costly Waste: Over 20 million barrels per day of brine are produced in the Permian Basin, costing operators millions in disposal fees.
• LibertyStream Turns Brine into Profit: By extracting lithium from this waste stream, the company monetizes a liability while reducing environmental impact.

Environmental & Infrastructure Advantages:

•  Leverages existing oil/gas infrastructure (wells, pipelines, power).
•  Minimal land use vs. traditional mining.
•  Lower water consumption than evaporation ponds.
•  No new mine development required and no permitting delays.

This “waste-to-cash” model is not only sustainable, it’s economically superior to traditional lithium mining and sets a new standard for clean resource extraction.

5. Path to Rapid Commercialization & Scalability

LibertyStream’s modular and expandable DLE units are designed for fast deployment and replication:

• Each unit can produce ~1,000 tonnes/year of lithium carbonate.
• Scalability: Thousands of oil wells in the Permian and Bakken can host units, enabling rapid expansion without massive capital outlays.

The company has already signed preliminary agreements with major oil producers to deploy DLE units at scale, with commercial production expected to begin in 2026.

What’s Next? Investor Expectations & Key Milestones

Why This Matters for VLTLF and LIB.v Shareholders

• VLTLF is not just a lithium play, it’s a transformational energy infrastructure play.
• This milestone eliminates key risks in commercialization and validates the entire business model.
• With minimal competition in the oilfield brine DLE space, LibertyStream is well-positioned to dominate the U.S. domestic lithium supply chain.
• The $1.50 price target (H2 2026) is now even more credible given the operational and commercial validation achieved.

Final Thoughts: A New Era in Lithium Production

LibertyStream’s success is more than a company milestone, it’s a national energy victory. By turning oilfield brine into battery-grade lithium using existing infrastructure, the company has created a scalable, sustainable, and secure supply chain for the U.S. EV and energy storage industries.

For investors, this is a rare confluence of:

• Technological breakthrough
• Environmental innovation
• Geopolitical security
• High-growth commercial potential

This is not just a stock, it’s a strategic bet on the future of American energy independence.

Key Takeaway for Investors:

LibertyStream has crossed the critical threshold from pilot to commercial production.
The technology is proven, scalable, and profitable.
Domestic lithium supply is now a reality, and VLTLF is leading the charge.
The next target is $1.50 by H2 2026, now backed by real-world production.

In short, LibertyStream’s achievement demonstrates that extracting commercial-grade lithium from a domestic waste stream, using existing infrastructure, is technologically viable. This is seen as a key step toward establishing the U.S. as a competitive, sovereign producer of the critical minerals required for the global energy transition.

Investor Action:
This is a major catalyst for VLTLF. With commercial production on the horizon, strong strategic positioning, and a massive market opportunity, now is the time to buy the dip or add to existing positions.

Disclosure: The author holds a long position in LIB.v in the Canadian markets and VLTLF in the U.S.

This is not investment advice. Do your own due diligence and talk to a licensed investment adviser prior to making any investment decisions. Junior resource companies can easily lose 100% of their value so read company profiles on www.sedarplus.ca for important risk disclosures. It’s your money and your responsibility.