Grounded Lithium Oil Production Sales Decline to 114 BPD in May
Grounded Lithium (GRD.V) reported a decline in oil production sales in May 2026 compared with the prior month, it said on Thursday.Oil production sales totaled 114 barrels per day (bpd) in May, compared with production reported in April 2026 of 120 bpd.The company said its partnership with Denison Mines (DML.TO, DNN) on the Kindersley Lithium project (KLP) is now focused on optimizing both wells in efforts to deliver high quality, spec grade, oil into the commodity markets and alleviate facility limitations on daily production. It anticipates that upon completion of "relatively straightforward improvements" to the facilities, production may initially exceed 150 bpd followed by months or years of a shallow production decline.Grounded Lithium and its partners are advancing plans for additional development wells, it said. The company also recovers overhead in addition to its share of revenue as the operator of the wells.Shares of the company closed down 7.1% to $0.065 on Wednesday on the TSX Venture Exchange.
