Electric vehicles are fueling the lithium boom. In fact, the element, supplied by companies such as E3 Metals (TSXV:ETMC)(OTC:EEMMF), ), Albemarle Corporation (NYSE:ALB), Lithium Americas (NYSE:LAC)(TSX:LAC), American Lithium Corp. (OTC:LIACF), and Piedmont Lithium (NASDAQ:PLL) is crucial for EV growth. In addition, according to Barron’s, “The global lithium industry produces less than 600,000 metric tons a year today. Demand is expected to hit 1.5 million tons by 2025. Even with new lithium mining projects, increased supplies of the commodity don’t seem likely to be an issue, as long as people keep buying EVs.”
It’s a big part of why lithium companies are seeing investor demand. Albemarle Corporation, for example was recently upgraded by Loop Capital analyst Christopher Kapsch to a buy from a hold with a price target of $187 from $160, according to Barron’s. “Reflecting several bigger picture developments….we have become incrementally more positive on the lithium space, and [Albemarle] more specifically,” he noted.
At Lithium Americas, the company continues to evaluate partnership and financing opportunities for its Thacker Pass lithium project, including the possibility of a joint venture partner. American Lithium Corp. just selected by the U.S. Department of Energy Advanced Manufacturing Office, with co-recipient American Battery Technology Company and another industry partner, to receive grant funding totaling 50% of the capital cost for a US$4.5 million lithium extraction/hydroxide pilot plant.
At Piedmont Lithium, President and CEO, Keith D. Phillips recently noted, “It is an exciting time for the battery materials industry in North America. Our North Carolina location places us in an ideal position to play a pivotal role in helping power North America’s electric vehicle and clean energy storage revolutions.”
E3 Metals (TSXV:ETMC)(OTC:EEMMF) is Also Seeing Significant Progress
E3 Metals Corp. (TSXV:ETMC)(OTC:EEMMF) an emerging lithium developer and leading direct lithium extraction technology innovator, is pleased to provide a corporate update.
Over the past four months, E3 Metals has seen significant progress toward its goal of becoming a lithium producer including an aggregate total funding of $14.3 Million CAD through three capital raises. In November, E3 Metals released its first Preliminary Economic Assessment outlining that an initial production of 20,000 tonnes LiOH/year has the potential value of $1.1 Billion USD (NPV8%, pre-tax) and $820 Million USD (NPV8%, after-tax), including one of the lowest operating costs for battery quality LiOH of $3,656 USD/tonne. Also, in November, John Pantazopoulos joined E3 Metals’ board of directors and assumed the position as CFO this January. This past month, E3 Metals welcomed seasoned oil and gas executive, Kevin Stashin to the board of directors and former Premier of Saskatchewan, Brad Wall as an advisor.
E3 Metals is actively advancing its DLE lithium project located in south-central Alberta. The primary focus for the Company is to demonstrate the continual scale-up of its proprietary DLE technology as it drives towards commercial production. In parallel, the Company is advancing its Aquifer Management Plan, aiming for an upgrade of its lithium resources to Measured and Indicated while working towards its Pre-Feasibility Study.
Staffing:
In addition to the new board and advisory members, E3 Metals also welcomes several new management and staff appointments. Within the DLE department, these positions include a Manager of Process Development, who will be leading our piloting activities, and a Senior Laboratory Technician to support our continued technology development. A Senior Production Engineer and Senior Geologist have also been added to the team to continue developing the Company’s Aquifer Management Plan. With the new additions to the team and board, the Company is well-positioned to complete the objectives outlined below.
Aquifer Management Plan:
E3 Metals’ Aquifer Management Plan (AMP) is an essential step to ensuring its resource longevity. Starting with an understanding of the aquifer’s natural geological characteristics, the long-term behaviour and movement of the brine in the subsurface is modelled while leveraging the aquifer’s key advantages. This will allow the Company to select an optimal well network location.
E3 Metals’ newly expanded Subsurface Team is focused on further developing its Aquifer Management Plan, including brine production. The team will conduct advanced geoscience and engineering analysis, capitalizing on the available data from the oil and gas industry, to complete the detailed lithium-enriched brine delivery plan. The Company will also be engaging with local industry professionals and regulators to conduct aquifer flow tests and confirm brine deliverability and lithium concentrations in areas not yet tested.
Calgary Testing Facility:
After opening the newly commissioned testing facility in Calgary earlier this year, the Company has initiated its process design and development work in the facility to demonstrate the effectiveness of its Direct Lithium Extraction (“DLE”) technology by progressively scaling it up from a lab prototype operating within the testing facility, to a pilot plant operating continuously on a site within E3 Metals’ resource area in Alberta. The purpose of the lab prototype is to refine the DLE process through continuous testing to define the process design basis for the field pilot plant. In addition, the Company plans to use the testing facility to accelerate the development of the lithium hydroxide production flow sheet downstream of the DLE process.
Zero Carbon Emissions and ESG:
A very important part of E3 Metals’ development is doing so with an eye on its impact in this world, especially locally in Alberta. E3 Metals is establishing corporate guidance on its Environment, Social and Governance (ESG) policies. Inherent to how the Company will operate and the DLE process, E3 Metals will use only about 3% of the land that conventional mining and salars-style projects do. The Company will also not generate tailings ponds or impact freshwater aquifers. E3 Metals is also evaluating opportunities to deploy carbon capture technology and the use of non-emitting power sources to help reduce, and potentially completely eliminate, carbon emissions. The Company will be working on this initiative throughout 2021. To stand out as a leader in this space, E3 Metals will be completing a third party and independent life-cycle analysis (LCA) in 2022.
Projected Milestones for 2021:
E3 Metals is actively advancing its Alberta Lithium Project towards commercial operations. The two broad goals that the Company is currently fully funded to complete are the operations of a field-based pilot plant and the completion of a Pre-Feasibility Study, which will include an LCA. Over the course of 2021, E3 Metals anticipates completing several major milestones on the path to completing these broader goals:
- Completion of a pilot prototype
- Initiate construction of field pilot
- Initiate aquifer production testing
- Initiate measured and indicated upgrade
- Complete the initial production of lithium products
- Initiate the scale-up of the production of lithium products
- Outline a corporate ESG plan for the sustainable production of lithium in Alberta
“2021 will be a very exciting year for E3 Metals,” commented E3 Metals’ CEO, Chris Doornbos. “We are fully funded and have the team and facilities in place to complete our milestones for 2021 as we work towards our Pre-Feasibility Study. We’ve been developing the technology for four years; we have proof of concept, we are now working on proof of scale. Our focus and development path are clear as we move to become a leader in the electrical revolution in Canada.”
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