Shares of Lithium Energi Exploration, Inc. (TSX-Venture:LEXI) are gaining close to 13% in late-afternoon trading as the company announced that it has executed an agreement with IBC Advanced Technologies, Inc. (“IBC”) to utilize IBC’s proprietary metals separation technology, known as Molecular Recognition Technology (“MRT”) for selective lithium extraction in Argentina.
From testing to commercial operations, MRT has repeatedly been proven as one of the most advanced, efficient, and eco-friendly refining technologies in the world for segregating metals in both mining and recycling with up to 99.99% purity.
Under the Agreement, IBC will be responsible for completing basic engineering specifications and drawings, process design and throughput calculations, brine testing and ligand selections for the MRT plant. For providing the services, LEXI will pay IBC $600,000 U.S. in cash over the next 12 months and issue 5,000,000 common shares of the Company.
Shares of LEXI have been on an uptrend since early-July and with today’s announcement, the bulls continue to push forward with the stock trading at $0.175 at last check, which is up $0.02 or 12.9% on the day so far.
