Potential Discovery by Belmont Resources and MGX in Nevada “Cannot Be Understated”

According to Rockstone Research, potential discovery by Belmont Resources (TSXV:BEA) on the Kibby Basin property in Nevada “cannot be understated,” due to the rise in demand for lithium. According to the article, the US only produces “only about 4% of global lithium supply.”

As quoted in the article:

The importance of a potential discovery by MGX and Belmont in Nevada, combined with MGX’s rapid lithium extraction technology, cannot be understated. The US needs new lithium production as lithium is on the list of strategic commodities deemed critical to economic and national security. MGX’s new way to extract lithium without solar evaporation would be all the more welcome as the US currently produces only about 4% of global lithium supply, all of it coming from Albemarle’s evaporation ponds at the Silver Peak Mine located 50 km south of Kibby Basin.

While companies are fighting over water rights in the “overappropriated” Clayton Valley, Belmont has already filed for water rights at Kibby Basin. Another advantage for MGX/Belmont is that they control almost the entire Kibby Basin, making an entry for other companies all the more difficult, especially if drilling encounters lithium-rich brines.

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Source: rockstone-research.com