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Calix Receives Final AU$5.7 Million Payment From PLS Group Under Mid-Stream Project Restructure, Shares Up 6%

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Calix (ASX:CXL) received a second and final AU$5.7 million cash payment from PLS Group (ASX:PLS) as part of the restructure of the Mid-Stream Project executed on April 20, according to a Friday Australian bourse filing.

The company said the Mid-Stream Demonstration Plant was officially opened on June 5, with commissioning proceeding to schedule and successful full heat cycles of the Calix electric calciner completed, demonstrating power draw and heating range performance at design specification.

First spodumene calcination and lithium phosphate production is expected in the September quarter, the filing added.

The company's shares rose 6% in recent Friday trade.

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