With the electric vehicle boom well underway, demand for lithium is expected to increase substantially. In fact according to analysts at Bank of America, “The demand for lithium products is inflecting, with accelerating demand for electric vehicles as governments in Europe and Asia inject stimulus to boost vehicle penetration and adoption,” as quoted by Benzinga. In addition, according to analysts at Roskill, “The underlying demand growth for lithium compounds remains strong, with demand from rechargeable battery applications forecast to exceed 220kt LCE in 2020, representing roughly 70% of total lithium demand.” Plus, a Biden Administration could be bullish for lithium, as well. According to Albemarle Corp. CEO Kent Masters, as quoted by Bloomberg. “There’s the incentives, and the emphasis that’s put on electrification and EVs around that. The market side of it would be more favorable with Biden.” The news is creating excitement for E3 Metals Corp. (TSXV:ETMC)(OTC:EEMMF), Albemarle Corporation (NYSE:ALB), Lithium Americas (NYSE:LAC)(TSX:LAC), American Lithium Corp. (OTC:LIACF), and Galaxy Resourced Limited (OTC:GALXF).
E3 Metals Corp. (TSXV:ETMC)(OTC:EEMMF) BREAKING NEWS: E3 Metals Corp., an emerging lithium developer and leading lithium extraction technology innovator, today announced that it has closed its brokered private placement lead by Canaccord Genuity Corp. The placement was fully subscribed for a total of $5,000,000.05, representing 5,882,353 units in the Company under the terms of the placement announced on December 2, 2020.
The proceeds will assist E3 Metals in completing the DLE technology development. This includes the construction of a pilot plant aimed at demonstrating the operating conditions for the primary extraction of lithium from brines in Alberta. The company will also be advancing its Aquifer Management Plan and the larger scale production of lithium hydroxide from E3’s wholly owned Li-IX Direct Lithium Extraction technology.
Other related developments from around the markets include:
Albemarle Corporation (NYSE:ALB), a leader in the global specialty chemicals industry, announced it has been awarded the Carolinas Community Design Award by the U.S. Green Building Council (USGBC) for its headquarters expansion project in Charlotte, N.C. Albemarle won this award in the Interior Design and Construction category for the company's sustainable, collaborative, and wellness-focused headquarters expansion. This award comes on the heels of the company receiving a LEED® Gold certification from the USGBC earlier this year for the same project. "At Albemarle, sustainability and collaboration are key areas of focus in how we work and live," said John Gifford, Albemarle Director of Global Real Estate and Facilities. "To receive this award from the USGBC, in addition to our LEED Gold certification, means they recognize the importance we place on those critical attributes to our employees' work environment. Thank you to our dedicated project team and partners for bringing Albemarle's values to life."
Lithium Americas Corp. (NYSE:LAC)(TSX:LAC) is pleased to report the release of the Final Environmental Impact Statement for the Thacker Pass lithium project by the United States Bureau of Land Management. Thacker Pass, located north of Winnemucca, Nevada, USA, is 100% owned by Lithium Nevada Corp., a US corporation and wholly-owned subsidiary of Lithium Americas. “The publication of the Final EIS is the culmination of more than a decade of work studying, exploring and developing the Thacker Pass project,” commented Jon Evans, President and CEO. “Thacker Pass has the potential to provide future sources of high-quality lithium chemicals critical for establishing a strong domestic lithium supply chain required to support a low-carbon economy.”
American Lithium Corp. (OTC:LIACF), a leading lithium exploration and development operator is pleased to report commencement of the phase III drill campaign to expand the current 5.37 million tonnes (Mt) Lithium Carbonate Equivalent (LCE) at the Company’s wholly owned TLC sedimentary lithium project in Nevada, USA. Further, the program will provide bulk material to continue independent testing and validation of existing work on economical production of lithium by both hydrometallurgical and thermal processing methods. To date, all holes drilled at TLC have intersected significant lithium. A maiden pit constrained resource of 1.107 billion tonnes measured and indicated plus 362 Mt Inferred was established through the phase I & II drilling program of 2019-2020. This program included 23 RC drill holes and 5 core holes to yield this 5.37 million tonnes LCE M+I and 1.76 million tonnes LCE Inferred at a 400 ppm cut-off grade. Already established as one of North America’s largest confirmed sedimentary resources, this TLC resource is open both to the north and west on existing claims. In July 2020, an additional 52 claims comprising 1,074 (+26%) acres contiguous to the existing TLC property were added to the project due to evidence that the lithium structures continue in these directions.
Galaxy Resourced Limited (OTC:GALXF) has successfully completed the fully underwritten pro-rata accelerated non-renounceable entitlement offer and institutional placements to raise ~A$161m. Proceeds will be applied to Sal de Vida Stage 1 and pre-development activities at James Bay to advance it to a construction ready status. Equity financing provides an enhanced level of certainty to execute and develop Sal de Vida into a tier 1, low – cost lithium brine operation. Galaxy is positioned to meet its previously stated development timeline and confidently proceed into the early works phase which includes procurement of long lead items and pond construction.
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