Noram Lithium (TSXV:NRM; OTCQB:NRVTF; FRA:N7R) advances its flagship Zeus project, a high-grade lithium project that spans 2,800 acres, located adjacent to Albemarle’s Silver Peak Lithium Mine, with extensive infrastructure including power at site a paved highway directly to the project. It is also in the same state as Tesla’s (NASDAQ:TSLA) first Gigafactory.
A Preliminary Economic Assessment (“PEA”) on the Zeus project showed robust economics indicating a US$1.299 billion after-tax net present value (“NPV”) (8percent) with a 31 percent after-tax internal rate of return, spanning a mine life of 40 years. The existing resource has indicated resources for up to 200 years of operation.
Company Highlights
Noram Lithium’s flagship Zeus project has a preliminary economic assessment that indicates robust economics: a US$1.299 billion after-tax NPV (8percent), a 31percent IRR” and a mine life of 40 years.
100 percent owned with no underlying NSR.
A significant mineral resource estimate at cut-off grades of 400 ppm, including a total measured and indicated resource of 1.8 million tonnes of lithium carbonate equivalent and a total inferred resource of 3.9 million tonnes of lithium carbonate equivalent.
Zeus features a high-grade and shallow lithium deposit, which may result in a relatively low-cost operation supported by high lithium recoveries and low contamination.
Situated near Albemarle’s Silver Peak, which is the only other US producer of lithium.
Noram’s share structure remains tight with below 75M shares issued, with approximately 20percent controlled by management and insiders.
This Noram Lithium profile is part of a paid investor education campaign.*
Driven by increasing demand from the electric vehicle industry, the outlook for lithium is promising and forecasts are showing no signs of slowing down. On top of this rising demand, the US government has also deemed lithium a “critical material” and released a National Blueprint that outlines a goal to secure access to raw materials for lithium batteries and establish a program to increase domestic processing and production.
As the push to develop a domestic supply chain for lithium batteries in the US gets underway, one region in the country stands out among the rest. Nevada’s Clayton Valley is home to the only operating lithium brine mine in the US –– Albemarle’s (NYSE:ALB) Silver Peak Lithium Mine, which has produced lithium for more than 60 years. Nevada is ranked the top mining jurisdiction in the world based on investment attractiveness in 2020. Of note, Albemarle has indicated it is planning on doubling its Silver Peak’s lithium production by 2025.
One company focused on a project in Clayton Valley, Nevada, is Noram Lithium (TSXV:NRM; OTCQB:NRVTF; FRA:N7R). Noram Lithium’s flagship Zeus project is a high-grade lithium project that spans 2,800 acres, located adjacent to Albemarle’s Silver Peak Lithium Mine, with extensive infrastructure including power at site a paved highway directly to the project. It is also in the same state as Tesla’s (NASDAQ:TSLA) first Gigafactory.
A Preliminary Economic Assessment (“PEA”) on the Zeus project showed robust economics indicating a US$1.299 billion after-tax net present value (“NPV”) (8percent) with a 31 percent after-tax internal rate of return, spanning a mine life of 40 years. The existing resource has indicated resources for up to 200 years of operation.
Noram Lithium is fully funded with a strong cash position to advance and de-risk its Zeus project with an aggressive development plan set for 2022. Development plans include updating the project’s resource with a drill program in Q1/2022, completing additional metallurgical and prefeasibility studies (“PFS) to further enhance the project’s economics, and complete baseline environmental studies and green initiatives.
Company Highlights
Noram Lithium’s flagship Zeus project has a preliminary economic assessment that indicates robust economics: a US$1.299 billion after-tax NPV (8percent), a 31percent IRR” and a mine life of 40 years.
100 percent owned with no underlying NSR.
A significant mineral resource estimate at cut-off grades of 400 ppm, including a total measured and indicated resource of 1.8 million tonnes of lithium carbonate equivalent and a total inferred resource of 3.9 million tonnes of lithium carbonate equivalent.
Zeus features a high-grade and shallow lithium deposit, which may result in a relatively low-cost operation supported by high lithium recoveries and low contamination.
Situated near Albemarle’s Silver Peak, which is the only other US producer of lithium.
Noram’s share structure remains tight with below 75M shares issued, with approximately 20percent controlled by management and insiders.
Key Projects
Zeus
The flagship Zeus project is a high-grade lithium project located in Clayton Valley in Nevada, near the only other US producer of lithium, Albemarle’s Silver Peak. The 2,800 acre property features access to a road, power and extensive infrastructure nearby. The Zeus project hosts a large-scale deposit located near the surface with minimum to nil overburden that is suitable for conventional mining methods and would be a relatively low-cost operation.
The preliminary resource estimate on the Zeus project showed robust economics. Highlights include (all $ are expressed in US$):
$1.299 Billion NPV” (After-Tax) at 8percent discount rate with a 31percent IRR.
Capital Costs (“CAPEX”) estimated at $528M with after-tax payback period of 3.23 years.
Gross Revenue of $303.4 Million/year or $12.14 billion over its mine life.
Low Operating Cost. Operating Cost (“OPEX”) of $3,355.30/tonne Lithium Carbonate Equivalent (“LCE”) with a break-even price of $4016.6/tonne LCE LOM. Operating cost per tonne places the Zeus projects amongst the lowest in the industry.
Long Mine Life (“LOM). The mine production rate during full operation is set at 17,000 tpd. The production schedule uses ore from the first 11 phases, which results in 40-year mine life (“LOM”). The mine production schedule results in 245.4 million tonnes averaging 1,093 ppm Li.
Very Low Strip Ratio. Mining strip ratios are very low, averaging 0.07:1 for LOM. Mining consists of a truck and shovel method, with blasting being unnecessary due to the ore softness.
Low Environmental Impact. The leaching and filtration flowsheet includes dry stack tailings, thus, eliminating the environmental risk and long-term management issues associated with tailings ponds.
LCE market Price. Base case market price of $9500/tonne LCE is well below long term forecasted rate of $14,000/tonne. Price Sensitivity. The after-tax NPV reaches $2.665 billion at $14,250/Tonne LCE (8percent discount rate). On January 13, 2022, LCE was currently selling for ~US$50,000/tonner
Noram Lithium President and COO Peter Ball shared in an interview with INN, "These numbers are spectacular for where we are. It's going to be an opportunity for shareholders."
Noram Lithium CEO and Director Sandy MacDougall said, “This study represents the most significant milestone to date for Noram and establishes us among limited peers as the newest low cost, high-grade, near-term lithium production story in North America."
In a research report, independent analyst Fundamental Research Corp. (on December 15, 2021) gave the company a peer-compared fair value of C$2.65 after reviewing Noram’s recent PEA announcement.
Noram Lithium plans to further upgrade the resource with additional infill drilling of 12 holes planned for the first quarter of 2022. The company also plans to complete an additional follow-up metallurgical study in the first half of 2022 and then complete a prefeasibility study (“PFS”) in the second half of 2022.
Management Team
Anita Algie - Chair & CFO
Anita Algie has over 15 years of experience in management, listings, compliance, corporate structure and development as well as mergers and acquisitions for exploration- and resource-based public companies. She is the former president and CEO of Unity Metals Corp. (TSXV:UTY). She is also the former president, CEO and director of American Lithium Corp. (TSXV:LI) and First Cobalt Corp. (TSXV:FCC). Algie has served on numerous boards during her career in the public markets and specializes in sourcing, acquiring and developing non-grass roots properties. Algie has also successfully completed several CPC Qualifying Transactions with the TSX Venture Exchange. She is an Honors Human Physiology graduate from the University of British Columbia.
Sandy MacDougall - CEO & Director
Sandy MacDougall is an Economics graduate of the University of British Columbia. MacDougall has over 30 years of experience in the investment banking and finance industry. He was a former investment advisor at Canaccord Capital Corp. and was involved in numerous significant financings in Canada and abroad for a wide range of companies. His experience includes extensive exposure to precious and base metal projects throughout North and South America. He was previously Chairman of the Board from 2016 to 2021.
Peter A. Ball - President & COO
Peter Ball brings over 30 years of extensive experience as a mining professional at all levels of leadership. Throughout Ball’s career, he has held various senior management roles with international mining companies, including corporate finance, securities trading, mine engineering, business development, corporate communications, public relations and marketing functions. Balls’ management experience is throughout North and South America, Asia and Europe. Ball began his career in the late 1980s working as a mining engineer, a technical representative and in various management and senior executive roles. Ball held these roles at numerous companies, including NV Gold Redstar Gold , Columbus Gold , Hudson Bay Mining & Smelting, Echo Bay Mines Ltd., RBC Dominion Securities and Eldorado Gold Corp. Ball is a graduate of the Haileybury School of Mines, Georgian Business College and UBC’s Canadian Securities Course. Ball is also a member of CIMM. Ball has led and assisted in raising over $250M of capital in the resource sector.
Arthur Brown - Director
Arthur Brown brings 36 years of business experience to Noram’s board. He has served on the boards of eight other companies in sectors ranging from technology to oil and gas and mineral exploration. Brown has substantial knowledge and experience in corporate structure and development, financings and venture capital. Brown understands all the aspects and requirements that a public company must have to operate successfully. This knowledge and experience have been translated into many successful financings for the various companies that he has been involved with.
Adam Falkoff - Independent Director
Adam Falkoff has over 20 years of experience in public policy, international relations and business development. He has advised CEOs of the Fortune 100, presidents, prime ministers, cabinet ministers and ambassadors as the president of CapitalKeys. CapitalKeys is a bipartisan global public policy and strategic consulting firm based in Washington, D.C. with offices in London and Singapore. As the president of CapitalKeys, he has successfully helped clientele understand, anticipate and navigate the complex public policy environment as well as develop strategies for business development driving client revenues. He is also the interim president of RARE, The Association for Rare Earth. He is a 2018 recipient of the Ellis Island Medal of Honor for service to the USA. He was also named to the Washington, D.C. Power 100 which is a list of the 100 most influential non-elected people by Washington Life Magazine.
Falkoff received a Bachelor of Arts from Duke University. He also received an M.B.A. and M.I.M. (Master of International Management) from the Thunderbird School of Global Management on an academic scholarship. Falkoff also holds a Certificate in International Law from the University of Salzburg’s Institute on International Legal Studies. The coursework was instructed by Supreme Court Justices Anthony Kennedy and John Paul Stevens. He also participated in the Postgraduate Programme of the School of Mining Engineering at the University of Witwatersrand in Johannesburg, South Africa that is known as the world’s preeminent institution in the field of international mining and mining studies.
Cyrus Driver - Independent Director
Cyrus Driver is a chartered accountant and a founding partner in the firm of Driver Anderson since its inception in 1982. Driver is a retired partner in the firm of Davidson and Company LLP. Driver has a wide knowledge of the securities industry and its rules which has enabled him to give valuable advice to clients with respect to finance, taxation and other accounting-related matters. Whilst providing general public accounting services to a wide range of clients, he specializes in servicing TSX Venture-listed companies and members of the brokerage community. He currently serves as director and/or CFO of several TSX-V listed companies.
Brad Peek, CPG - Vice President Exploration
Brad Peek has more than 40 years of experience in project management, mineral exploration and computer applications in the mining industry. Peek has 11 years of experience with a water engineering consultant firm. Peek received a Bachelor of Science degree in Geology from the University of Nebraska and a Master of Science degree in Geology from the University of Alaska. He is a member of the Society of Economic Geologists as well as the Society of Mining, Metallurgy and Exploration. Peek is also a Certified Professional Geologist, CPG11299 of the AIME American Institute of Professional.
S andy MacDougall, CEO of Noram Lithium Corp. (" Noram " or the " Company ") (TSXV:NRM | OTCQB:NRVTF | Frankfurt:N7R) is pleased to announce the successful completion of CVZ-81 (PH-03) and release of the final assay results. The Company completed core hole CVZ-81 at a depth of 451.5 feet (137.6 m). Sampling for assay began at 55 ft (16.8 m) and continued to the bottom of the hole, an interval thickness of 416.5 ft (126.9 m) was intersected. The hole ended in mineralization and the weighted average lithium values present were as follows
CVZ-81 was the last hole drilled in Noram's Phase VI drilling program and had better than expected results, as did most of the holes in this in-fill drilling program. Now that the final assays are in, efforts are being focused on updating the geological/lithium grade models to be used in the upcoming PFS. The grades and thicknesses of mineralization seen in the Phase VI holes are anticipated to substantially improve the outlook for the Zeus deposit and upgrade approximately 175 million tonnes of the deposit from the inferred resource category to indicated resource." comments Brad Peek, VP of Exploration and geologist on all six phases of Noram's Clayton Valley exploration drilling.
Figure 1. Comparative stratigraphy and assay results for drill hole CVZ-81 as compared to CVZ-78 and CVZ-68, which were drilled as part of the Phases V and VI programs. As can be seen on the cross section, all 3 holes had long intercepts of high-grade lithium mineralization. The histogram on the sides of the holes are the composited lithium grades in ppm Li. The cross section has a 4X vertical exaggeration.
Hole ID
Sample No.
From (ft)
To (ft)
From (m)
To (m)
Li (ppm)
CVZ-81
1851338
35
45
10.7
13.7
960
CVZ-81
1851339
45
55
13.7
16.8
710
CVZ-81
1851340
55
65
16.8
19.8
830
CVZ-81
1851341
65
75
19.8
22.9
750
CVZ-81
1851342
75
85
22.9
25.9
950
CVZ-81
1851343
85
95
25.9
29.0
820
CVZ-81
1851344
95
107
29.0
32.6
1000
CVZ-81
1851345
107
118
32.6
36.0
800
CVZ-81
1851346
118
123
36.0
37.5
1020
CVZ-81
No Sample
123
124.5
37.5
37.9
CVZ-81
1851347
124.5
135
37.9
41.1
950
CVZ-81
1851348
135
145
41.1
44.2
1140
CVZ-81
1851349
145
155
44.2
47.2
1110
CVZ-81
1851350
155
165
47.2
50.3
1100
CVZ-81
1851351
165
175
50.3
53.3
1750
CVZ-81
1851353
175
185
53.3
56.4
1450
CVZ-81
1851354
185
195
56.4
59.4
1170
CVZ-81
1851355
195
205
59.4
62.5
1520
CVZ-81
1851356
205
215
62.5
65.5
1540
CVZ-81
1851357
215
225
65.5
68.6
1810
CVZ-81
1851358
225
235
68.6
71.6
1510
CVZ-81
1851359
235
245
71.6
74.7
1440
CVZ-81
1851361
245
255
74.7
77.7
1490
CVZ-81
1851362
255
265
77.7
80.8
1730
CVZ-81
1851363
265
275
80.8
83.8
1380
CVZ-81
1851364
275
285
83.8
86.9
1190
CVZ-81
1851365
285
295
86.9
89.9
1200
CVZ-81
1851366
295
305
89.9
93.0
1110
CVZ-81
1851367
305
315
93.0
96.0
1140
CVZ-81
1851368
315
325
96.0
99.1
1140
CVZ-81
1851369
325
335
99.1
102.1
1030
CVZ-81
1851370
335
345
102.1
105.2
930
CVZ-81
1851372
345
355
105.2
108.2
960
CVZ-81
1851373
355
365
108.2
111.3
1140
CVZ-81
1851374
365
375
111.3
114.3
660
CVZ-81
1851375
375
385
114.3
117.3
780
CVZ-81
1851376
385
395
117.3
120.4
730
CVZ-81
1851377
395
405
120.4
123.4
770
CVZ-81
1851378
405
415
123.4
126.5
820
CVZ-81
1851379
415
425
126.5
129.5
710
CVZ-81
1851380
425
435
129.5
132.6
790
CVZ-81
1851381
435
445
132.6
135.6
840
CVZ-81
1851382
445
451.5
135.6
137.6
860
Table 1 - Sample results from CVZ-81 from 35 ft to depth of 451.5 ft (10.7-137.6 m)
The samples were analyzed by the ALS laboratory in Reno, Nevada. QA/QC samples were included in the sample batch and returned values that were within their expected ranges.
Figure 2 - Location of all past drill holes (Phase I to Phase V) previously completed in addition to the 12 holes completed for Phase VI. Phase VI holes are indicated in purple.
The technical information contained in this news release has been reviewed and approved by Brad Peek., M.Sc., CPG, who is a Qualified Person with respect to Noram's Clayton Valley Lithium Project as defined under National Instrument 43-101.
About Noram Lithium Corp.
Noram Lithium Corp. (TSXV: NRM| OTCQB: NRVTF | Frankfurt: N7R) is a well-financed Canadian based advanced Lithium development stage company with less than 90 million shares issued and a fully funded treasury. Noram is aggressively advancing its Zeus Lithium Project in Nevada from the development-stage level through the completion of a Pre-Feasibility Study in 2022.
The Company's flagship asset is the Zeus Lithium Project ("Zeus"), located in Clayton Valley, Nevada. The Zeus Project contains a current 43-101 measured and indicated resource estimate* of 363 million tonnes grading 923 ppm lithium, and an inferred resource of 827 million tonnes grading 884 ppm lithium utilizing a 400 ppm Li cut-off . In December 2021, a robust PEA** indicated an After-Tax NPV(8) of US$1.3 Billion and IRR of 31% using US$9,500/tonne Lithium Carbonate Equivalent (LCE). Using the LCE long term forecast of US$14,000/tonne, the PEA indicates an NPV (8%) of approximately US$2.6 Billion and an IRR of 52% at US$14,000/tonne LCE.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes statements regarding, among other things, the completion transactions completed in the Agreement. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, regulatory approval processes. Although Noram believes that the assumptions used in preparing the forward-looking information in this news release are reasonable, including that all necessary regulatory approvals will be obtained in a timely manner, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Noram disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by applicable securities laws. *Updated Lithium Mineral Resource Estimate, Zeus Project, Clayton Valley, Esmeralda County, Nevada, USA (August 2021) **Preliminary Economic Assessment Zeus Project, ABH Engineering (December 2021)
Sandy MacDougall, CEO of Noram Lithium Corp. ("Noram" or the "Company") (TSXV:NRM | OTCQB:NRVTF | Frankfurt:N7R) is pleased to announce the successful completion of CVZ-77 (PH-04) and CVZ-78 (PH-11) and release of the final assay results. The Company completed core hole CVZ-77 at a depth of 458 feet (139.6 m). Sampling for assays began at 20 ft (6.1 m) and continued to the bottom of the hole, an interval thickness of 240 ft (73.2 m) was intersected from 48 ft (14.6 m) to 288 ft (87.8 m). The weighted average lithium values present are summarized below with a high of 2140 ppm. The Company completed core hole CVZ-78 at a depth of 451.5 feet (137.6 m). Sampling for assays began at 26.8 ft (8.2 m) and continued to the bottom of the hole, an interval thickness of 231.3 ft (70.5 m) was intersected from 26.8 ft (8.2 m) to 258 ft (78.6 m). The weighted average lithium values present are summarized below with a high of 2100 ppm present
Figure 1 - Location of all past drill holes (Phase I to Phase V) previously completed in addition to the 12 proposed holes for Phase V1. Phase VI holes are indicated in purple.
Figure 2. Comparative stratigraphy and assay results for drill holes CVZ-77 and CVZ-78 as compared to CVZ-65 which was drilled as part of a prior program. The histogram on the sides of the holes are the composited lithium grades in ppm Li. The cross section has a 4X vertical exaggeration.
"As we continue to receive results that meet and/or surpass our expectations, our level of confidence in the resource model continues to increase. This program is providing us with vital information that will allow us to upgrade a significant portion of the resource from the Inferred Category to the Indicated Category. We could not be more proud of the team we have diligently advancing the Project. Noram management is focused on enhancing shareholder value as we continue to develop the resource" comments Brad Peek, VP of Exploration and geologist on all six phases of Noram's Clayton Valley exploration drilling.
Hole ID
Sample No.
From (ft)
To (ft)
From (m)
To (m)
Li (ppm)
CVZ-77
1748459
20
28
6.1
8.5
610
CVZ-77
1748460
28
38
8.5
11.6
850
CVZ-77
1748461
38
48
11.6
14.6
870
CVZ-77
1748462
48
58
14.6
17.7
1010
CVZ-77
1748463
58
68
17.7
20.7
840
CVZ-77
1748464
68
78
20.7
23.8
910
CVZ-77
1748465
78
88
23.8
26.8
840
CVZ-77
1748466
88
98
26.8
29.9
940
CVZ-77
1748467
98
108
29.9
32.9
600
CVZ-77
1748468
108
118
32.9
36.0
1160
CVZ-77
1748469
118
128
36.0
39.0
980
CVZ-77
1748471
128
138
39.0
42.1
1540
CVZ-77
1748472
138
148
42.1
45.1
1340
CVZ-77
1748473
148
158
45.1
48.2
1400
CVZ-77
1748474
158
168
48.2
51.2
1510
CVZ-77
1748475
168
178
51.2
54.3
1860
CVZ-77
1748476
178
188
54.3
57.3
2140
CVZ-77
1748477
188
198
57.3
60.4
1300
CVZ-77
1748478
198
208
60.4
63.4
1290
CVZ-77
1748479
208
218
63.4
66.4
1450
CVZ-77
1748480
218
228
66.4
69.5
1630
CVZ-77
1748481
228
238
69.5
72.5
1250
CVZ-77
1748482
238
248
72.5
75.6
1060
CVZ-77
1748483
248
258
75.6
78.6
1080
CVZ-77
1748484
258
268
78.6
81.7
950
CVZ-77
1748485
268
278
81.7
84.7
1020
CVZ-77
1748486
278
288
84.7
87.8
990
CVZ-77
1748487
288
298
87.8
90.8
790
CVZ-77
1748488
298
308
90.8
93.9
620
CVZ-77
1748489
308
318
93.9
96.9
870
CVZ-77
1748490
318
328
96.9
100.0
760
CVZ-77
1748491
328
338
100.0
103.0
430
CVZ-77
1748492
338
348
103.0
106.1
610
CVZ-77
1748493
348
358
106.1
109.1
550
CVZ-77
1748494
358
368
109.1
112.2
550
CVZ-77
1748495
368
378
112.2
115.2
720
CVZ-77
1748496
378
388
115.2
118.3
540
CVZ-77
1748497
388
398
118.3
121.3
790
CVZ-77
1748498
398
408
121.3
124.4
780
CVZ-77
1748499
408
418
124.4
127.4
600
CVZ-77
1748500
418
428
127.4
130.5
550
CVZ-77
1748501
428
438
130.5
133.5
500
CVZ-77
1748502
438
448
133.5
136.6
379
Table 1 - Sample results from CVZ-77 from 20 ft (6.1 m) to depth of 448 ft (136.6 m).
Hole ID
Sample No.
From (ft)
To (ft)
From (m)
To (m)
Li (ppm)
CVZ-78
1748508
26.75
37.25
8.2
11.4
920
CVZ-78
1748509
37.25
48
11.4
14.6
1090
CVZ-78
1748510
48
58
14.6
17.7
910
CVZ-78
1748511
58
68
17.7
20.7
910
CVZ-78
1748512
68
78
20.7
23.8
980
CVZ-78
1748513
78
88
23.8
26.8
2100
CVZ-78
1748514
88
98
26.8
29.9
1160
CVZ-78
1748515
98
108
29.9
32.9
1190
CVZ-78
1748516
108
118
32.9
36.0
1640
CVZ-78
1748517
118
128
36.0
39.0
1830
CVZ-78
1748518
128
138
39.0
42.1
1240
CVZ-78
1748519
138
148
42.1
45.1
1180
CVZ-78
1748520
148
158
45.1
48.2
1380
CVZ-78
1748521
158
168
48.2
51.2
1350
CVZ-78
1748522
168
178
51.2
54.3
1280
CVZ-78
1748523
178
188
54.3
57.3
1000
CVZ-78
1748524
188
198
57.3
60.4
1060
CVZ-78
1748525
198
208
60.4
63.4
910
CVZ-78
1748527
208
218
63.4
66.4
960
CVZ-78
1748528
218
228
66.4
69.5
1020
CVZ-78
1748529
228
238
69.5
72.5
830
CVZ-78
1748530
238
248
72.5
75.6
580
CVZ-78
1748531
248
258
75.6
78.6
1110
CVZ-78
1748532
258
268
78.6
81.7
790
CVZ-78
1748533
268
278
81.7
84.7
650
CVZ-78
1748534
278
288
84.7
87.8
750
CVZ-78
1748535
288
298
87.8
90.8
890
CVZ-78
1748536
298
308
90.8
93.9
680
CVZ-78
1748537
308
318
93.9
96.9
730
CVZ-78
1748538
318
328
96.9
100.0
930
CVZ-78
1748539
328
338
100.0
103.0
740
CVZ-78
1748540
338
348
103.0
106.1
720
CVZ-78
1748541
348
358
106.1
109.1
560
CVZ-78
1748542
358
368
109.1
112.2
490
CVZ-78
1748543
368
378
112.2
115.2
560
CVZ-78
1748544
378
388
115.2
118.3
560
CVZ-78
1748545
388
398
118.3
121.3
670
CVZ-78
1748546
398
408
121.3
124.4
660
CVZ-78
1748547
408
418
124.4
127.4
460
CVZ-78
1748548
418
428
127.4
130.5
460
CVZ-78
1748549
428
438
130.5
133.5
530
CVZ-78
1748550
438
447
133.5
136.2
388
CVZ-78
1748551
447
451.5
136.2
137.6
399
Table 2 - Sample results from CVZ-78 from 26.8 ft (8.2 m) to depth of 451.5 ft (137.6 m).
All samples were analyzed by the ALS laboratory in Reno, Nevada. QA/QC samples were included in the sample batch and returned values that were within their expected ranges.
The technical information contained in this news release has been reviewed and approved by Brad Peek., M.Sc., CPG, who is a Qualified Person with respect to Noram's Clayton Valley Lithium Project as defined under National Instrument 43-101.
About Noram Lithium Corp.
Noram Lithium Corp. (TSXV:NRM| OTCQB:NRVTF | Frankfurt:N7R) is a well-financed Canadian based advanced Lithium development stage company with less than 90 million shares issued and a fully funded treasury. Noram is aggressively advancing its Zeus Lithium Project in Nevada from the development-stage level through the completion of a Pre-Feasibility Study in 2022.
The Company's flagship asset is the Zeus Lithium Project ("Zeus"), located in Clayton Valley, Nevada. The Zeus Project contains a current 43-101 measured and indicated resource estimate* of 363 million tonnes grading 923 ppm lithium, and an inferred resource of 827 million tonnes grading 884 ppm lithium utilizing a 400 ppm Li cut-off. In December 2021, a robust PEA** indicated an After-Tax NPV(8) of US$1.3 Billion and IRR of 31% using US$9,500/tonne Lithium Carbonate Equivalent (LCE). Using the LCE long term forecast of US$14,000/tonne, the PEA indicates an NPV (8%) of approximately US$2.6 Billion and an IRR of 52% at US$14,250/tonne LCE.
Sandy MacDougall Chief Executive Officer and Director C: 778.999.2159
For additional information please contact: Peter A. Ball President and Chief Operating Officer peter@noramlithiumcorp.com C: 778.344.4653
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes statements regarding, among other things, the completion transactions completed in the Agreement. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, regulatory approval processes. Although Noram believes that the assumptions used in preparing the forward-looking information in this news release are reasonable, including that all necessary regulatory approvals will be obtained in a timely manner, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Noram disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by applicable securities laws. *Updated Lithium Mineral Resource Estimate, Zeus Project, Clayton Valley, Esmeralda County, Nevada, USA (August 2021) **Preliminary Economic Assessment Zeus Project, ABH Engineering (December 2021).
Sandy MacDougall, CEO of Noram Lithium Corp. ("Noram" or the "Company") (TSXV:NRM)(OTCQB:NRVTF)(Frankfurt:N7R) is pleased to announce the successful completion of CVZ-75 (PH-01) and CVZ-76 (PH-02) and release of the final assay results. The Company completed core hole CVZ-75 at a depth of 326 feet (99.4 m). Sampling for assays began at 46 ft (14.0 m) and continued to the bottom of the hole, an interval thickness of 150 ft (45.7 m) was intersected from 46 ft (14.0 m) to 196 ft (59.7 m). The hole ended in mineralization and the weighted average lithium values present are summarized below. The Company completed core hole CVZ-76 at a depth of 338 feet (103.0 m). Sampling for assays began at 26 ft (7.9 m) and continued to the bottom of the hole, an interval thickness of 100 ft (30.5 m) was intersected from 26 ft (7.9 m) to 126 ft (38.4 m). The hole ended in mineralization and the weighted average lithium values present are summarized below
Figure 1 - Location of all past drill holes (Phase I to Phase V) previously completed in addition to the 12 proposed holes for Phase V1. Phase VI holes are indicated in purple.
Figure 2 - Comparative stratigraphy and assay results for drill holes CVZ-76 and CVZ-75 as compared to CVZ-63 which was drilled as part of a prior program. The histogram on the sides of the holes are the composited lithium grades in ppm Li. The cross section has a 4X vertical exaggeration.
"Holes CVZ-75 and CVZ-76 were located near the northeast end of the Phase V and Phase VI drilling. This is an area where the sediments are thinner since we are getting close to the basin margin. However, the lithium grades continue to be high. These holes are expected to continue to upgrade portions of the Zeus resource from inferred to indicated in Noram's upcoming PFS." comments Brad Peek, VP of Exploration and geologist on all six phases of Noram's Clayton Valley exploration drilling.
Hole ID
Sample No.
From (ft)
To (ft)
From (m)
To (m)
Li (ppm)
CVZ-75
1748394
46
56
14.0
17.1
1690
CVZ-75
1748395
56
66
17.1
20.1
890
CVZ-75
1748396
66
76
20.1
23.2
840
CVZ-75
1748397
76
86
23.2
26.2
910
CVZ-75
1748398
86
96
26.2
29.3
1420
CVZ-75
1748399
96
106
29.3
32.3
1160
CVZ-75
1748400
106
116
32.3
35.4
1010
CVZ-75
1748401
116
126
35.4
38.4
900
CVZ-75
1748402
126
136
38.4
41.5
870
CVZ-75
1748404
136
146
41.5
44.5
850
CVZ-75
1748405
146
156
44.5
47.5
820
CVZ-75
1748406
156
166
47.5
50.6
810
CVZ-75
1748407
166
176
50.6
53.6
620
CVZ-75
1748408
176
186
53.6
56.7
510
CVZ-75
1748409
186
196
56.7
59.7
1130
CVZ-75
1748410
196
206
59.7
62.8
800
CVZ-75
1748411
206
216
62.8
65.8
560
CVZ-75
1748412
216
226
65.8
68.9
650
CVZ-75
1748413
226
236
68.9
71.9
680
CVZ-75
1748414
236
246
71.9
75.0
510
CVZ-75
1748415
246
256
75.0
78.0
650
CVZ-75
1748416
256
266
78.0
81.1
570
CVZ-75
1748417
266
276
81.1
84.1
770
CVZ-75
1748418
276
286
84.1
87.2
570
CVZ-75
1748419
286
296
87.2
90.2
510
CVZ-75
1748420
296
306
90.2
93.3
770
CVZ-75
1748421
306
316
93.3
96.3
470
CVZ-75
1748422
316
326
96.3
99.4
600
Table 1 - Sample results from CVZ-75 from 46 ft (14.0 m) to depth of 326 ft (99.4 m).
Hole ID
Sample No.
From (ft)
To (ft)
From (m)
To (m)
Li (ppm)
CVZ-76
1748426
26
36
7.9
11.0
1320
CVZ-76
1748427
36
46
11.0
14.0
1620
CVZ-76
1748428
46
56
14.0
17.1
1620
CVZ-76
1748429
56
66
17.1
20.1
970
CVZ-76
1748430
66
76
20.1
23.2
830
CVZ-76
1748431
76
86
23.2
26.2
910
CVZ-76
1748432
86
96
26.2
29.3
1460
CVZ-76
1748433
96
106
29.3
32.3
1070
CVZ-76
1748434
106
116
32.3
35.4
930
CVZ-76
1748435
116
126
35.4
38.4
900
CVZ-76
1748436
126
136
38.4
41.5
780
CVZ-76
1748437
136
146
41.5
44.5
710
CVZ-76
1748438
146
156
44.5
47.5
670
CVZ-76
1748439
156
168
47.5
51.2
720
CVZ-76
No Sample
168
178
51.2
54.3
CVZ-76
1748440
178
188
54.3
57.3
460
CVZ-76
1748441
188
198
57.3
60.4
840
CVZ-76
1748442
198
208
60.4
63.4
700
CVZ-76
1748443
208
218
63.4
66.4
740
CVZ-76
1748444
218
228
66.4
69.5
720
CVZ-76
1748445
228
238
69.5
72.5
710
CVZ-76
1748446
238
248
72.5
75.6
520
CVZ-76
1748447
248
258
75.6
78.6
680
CVZ-76
1748448
258
268
78.6
81.7
640
CVZ-76
1748449
268
278
81.7
84.7
640
CVZ-76
1748450
278
288
84.7
87.8
590
CVZ-76
1748451
288
298
87.8
90.8
590
CVZ-76
1748452
298
308
90.8
93.9
449
CVZ-76
1748453
308
318
93.9
96.9
610
CVZ-76
1748454
318
328
96.9
100.0
560
CVZ-76
1748455
328
338
100.0
103.0
470
Table 2 - Sample results from CVZ-76 from 26 ft (7.9 m) to depth of 338 ft (103.0 m).
All samples were analyzed by the ALS laboratory in Reno, Nevada. QA/QC samples were included in the sample batch and returned values that were within their expected ranges.
The technical information contained in this news release has been reviewed and approved by Brad Peek., M.Sc., CPG, who is a Qualified Person with respect to Noram's Clayton Valley Lithium Project as defined under National Instrument 43-101.
About Noram Lithium Corp.
Noram Lithium Corp. (TSXV:NRM| OTCQB:NRVTF | Frankfurt:N7R) is a well-financed Canadian based advanced Lithium development stage company with less than 90 million shares issued and a fully funded treasury. Noram is aggressively advancing its Zeus Lithium Project in Nevada from the development-stage level through the completion of a Pre-Feasibility Study in 2022.
The Company's flagship asset is the Zeus Lithium Project ("Zeus"), located in Clayton Valley, Nevada. The Zeus Project contains a current 43-101 measured and indicated resource estimate* of 363 million tonnes grading 923 ppm lithium, and an inferred resource of 827 million tonnes grading 884 ppm lithium utilizing a 400 ppm Li cut-off. In December 2021, a robust PEA** indicated an After-Tax NPV(8) of US$1.3 Billion and IRR of 31% using US$9,500/tonne Lithium Carbonate Equivalent (LCE). Using the LCE long term forecast of US$14,000/tonne, the PEA indicates an NPV (8%) of approximately US$2.6 Billion and an IRR of 52% at US$14,000/tonne LCE.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes statements regarding, among other things, the completion transactions completed in the Agreement. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, regulatory approval processes. Although Noram believes that the assumptions used in preparing the forward-looking information in this news release are reasonable, including that all necessary regulatory approvals will be obtained in a timely manner, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Noram disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by applicable securities laws. *Updated Lithium Mineral Resource Estimate, Zeus Project, Clayton Valley, Esmeralda County, Nevada, USA (August 2021) **Preliminary Economic Assessment Zeus Project, ABH Engineering (December 2021).
Sandy MacDougall, CEO of Noram Lithium Corp. ("Noram" or the "Company") (TSXV:NRM)(OTCQB:NRVTF)(Frankfurt:N7R) is pleased to announce the successful completion of CVZ-71 (PH-10) and release of the final assay results. The Company completed core hole CVZ-71 at a depth of 453.5 feet (138.2 m). Sampling for assay began at 30 ft (9.1 m) and continued to the bottom of the hole. An interval thickness of 280 ft (85.3 m) was intersected from 140 ft (42.7 m) to 420 ft (128.0 m). The hole ended in mineralization and the weighted average lithium values present were as follows
FIGURE 1 - Example of core from CVZ-71, the first hole drilled using PQ core. PQ-sized core has a larger diameter to provide more material for ongoing metallurgical testing. This particular section shows the transition from olive claystones to the blue reduced claystones. As a general rule, demonstrated by previous programs, the blue claystones tend to have higher lithium values.
Figure 2. Comparative stratigraphy and assay results for drill hole CVZ-71 as compared to previously drilled holes CVZ-51 and CVZ-70. CVZ-51 and CVZ-70 both had long intercepts of high-grade lithium mineralization. The histogram on the sides of the holes are the composited lithium grades in ppm Li. The cross section has a 4X vertical exaggeration.
"As Noram moves toward completion of the Zeus property's PFS, now on schedule for completion in October 2022, the assay results from CVZ-71 provide another long, high-grade intercept to the list of drillholes that is expected to upgrade a major portion of the deposit from an inferred resource to the indicated resource category" comments Brad Peek, VP of Exploration and geologist on all six phases of Noram's Clayton Valley exploration drilling.
Table 1 - Sample results from CVZ-71 from 30 ft (9.1 m) to depth of 453.5 ft (138.2 m).
The samples were analyzed by the ALS laboratory in Reno, Nevada. Certified reference standard samples were included in the sample batch and returned values that were within their expected ranges.
The technical information contained in this news release has been reviewed and approved by Brad Peek., M.Sc., CPG, who is a Qualified Person with respect to Noram's Clayton Valley Lithium Project as defined under National Instrument 43-101.
About Noram Lithium Corp.
Noram Lithium Corp. (TSXV:NRM),(OTCQB: NRVTF),(Frankfurt:N7R) is a well-financed Canadian based advanced Lithium development stage company with less than 90 million shares issued and a fully funded treasury. Noram is aggressively advancing its Zeus Lithium Project in Nevada from the development-stage level through the completion of a Pre-Feasibility Study in 2022.
The Company's flagship asset is the Zeus Lithium Project ("Zeus"), located in Clayton Valley, Nevada. The Zeus Project contains a current 43-101 measured and indicated resource estimate* of 363 million tonnes grading 923 ppm lithium, and an inferred resource of 827 million tonnes grading 884 ppm lithium utilizing a 400 ppm Li cut-off. In December 2021, a robust PEA** indicated an After-Tax NPV(8) of US$1.3 Billion and IRR of 31% using US$9,500/tonne Lithium Carbonate Equivalent (LCE). Using the LCE long term forecast of US$14,000/tonne, the PEA indicates an NPV (8%) of approximately US$2.6 Billion and an IRR of 52% at US$14,000/tonne LCE.
Sandy MacDougall Chief Executive Officer and Director C: 778.999.2159
For additional information please contact: Peter A. Ball President and Chief Operating Officer peter@noramlithiumcorp.com C: 778.344.4653
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes statements regarding, among other things, the completion transactions completed in the Agreement. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, regulatory approval processes. Although Noram believes that the assumptions used in preparing the forward-looking information in this news release are reasonable, including that all necessary regulatory approvals will be obtained in a timely manner, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Noram disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by applicable securities laws. *Updated Lithium Mineral Resource Estimate, Zeus Project, Clayton Valley, Esmeralda County, Nevada, USA (August 2021) **Preliminary Economic Assessment Zeus Project, ABH Engineering (December 2021).
Sandy MacDougall, CEO of Noram Lithium Corp. ("Noram" or the "Company") (TSXV:NRM)(OTCQB:NRVTF)(Frankfurt:N7R) is pleased to announce" that the Company has successfully completed the Phase VI infill drill program on the Zeus Lithium Project in Clayton Valley, Nevada. The Zeus Project contains a current NI 43-101 measured and indicated resource estimate* of 363 million tonnes grading 923 ppm lithium, and an inferred resource of 827 million tonnes grading 884 ppm lithium utilizing a 400 ppm Li cut-off. In December 2021, a robust PEA** indicated an After-Tax NPV(8) of US$1.3 Billion and IRR of 31% using US$9,500tonne Lithium Carbonate Equivalent (LCE). Using the LCE long term forecast of US$14,000tonne, the PEA indicates an NPV (8%) of approximately US$2.6 Billion and an IRR of 52% at US$14,000tonne LCE
All 12 of the Phase VI proposed holes were completed to, or beyond, their anticipated depths for a total of 5246 ft (1599 m) of drilling. Most of the holes were drilled with HQ-size core with a diameter of 2.5 inches (63.5 mm). However, 4 of the holes were drilled with PQ-size (3.35 inches, 85 mm diameter) to be used for the ongoing metallurgical test work. The samples from the core have been hand-delivered to ALS Laboratory in Reno, Nevada for processing. QA/QC samples have been inserted into the sample stream to confirm sample results.
Figure 1 - The last batch of Phase VI drilling samples as they were delivered to ALS in Reno, Nevada.
"This is a significant milestone for Noram" stated CEO and Director, Sandy MacDougall "with the completion of this drilling, the inferred resource calculation will be confidently upgraded to the indicated category. This marks one of the final steps required to complete the Prefeasibility Study ("PFS") in the near term. While we have only received results from 2 of the 12 holes, the results supersede our expectations, and we can confidently say that a PFS superior to the PEA would not be surprising. All assays are being processed on a rush basis and we expect to receive the balance of the results shortly. Noram is on track to complete the PFS in the fall of 2022 while simultaneously working on new and innovative solutions to become a leader in the green technology space."
Figure 2 - Location of all past drill holes (Phase I to Phase V) previously completed in addition to the 12 holes completed under the Phase VI Program. Phase VI holes are shown as purple squares.
The Company has also begun initial preparation for the completion of a Plan of Operations (PoO) with the Tonopah, Nevada field office of the Bureau of Land Management. Results from the Phase VI drilling will be needed to determine whether additional drilling, bulk sampling, etc. will be required to carry the project through the PFS and DFS stages. These elements are essential to determine what goes into the PoO. The DFS is expected to follow closely on the heels of this fall's PFS.
The technical information contained in this news release has been reviewed and approved by Brad Peek., M.Sc., CPG, who is a Qualified Person with respect to Noram's Clayton Valley Lithium Project as defined under National Instrument 43-101.
About Noram Lithium Corp. Noram Lithium Corp. (TSXV:NRM)(OTCQB:NRVTF)(Frankfurt:N7R) is a well-financed Canadian based advanced Lithium development stage company with less than 90 million shares issued. Noram is aggressively advancing its Zeus Lithium Project in Nevada from the development-stage level through the completion of a Pre-Feasibility Study in 2022. The Company's flagship asset is the Zeus Lithium Project ("Zeus"), located in Clayton Valley, Nevada. The Zeus Project contains a current 43-101 measured and indicated resource estimate* of 363 million tonnes grading 923 ppm lithium, and an inferred resource of 827 million tonnes grading 884 ppm lithium utilizing a 400 ppm Li cut-off. In December 2021, a robust PEA** indicated an After-Tax NPV(8) of US$1.299 Billion and IRR of 31% using US$9,500/tonne Lithium Carbonate Equivalent (LCE). Using the LCE long term forecast of US$14,000/tonne, the PEA indicates an NPV (8%) of approximately US$2.6 Billion and an IRR of 52% at US$14,000/tonne LCE.
ON BEHALF OF THE BOARD OF DIRECTORS Sandy MacDougall CEO and Director C: 778.999.2159
For additional information please contact: Peter A. Ball President and Chief Operating Officer peter@noramlithiumcorp.com C: 778.344.4653
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information in this news release includes statements regarding, among other things, the completion of the engagement of Bridgeview and the approval of the TSX Venture Exchange. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, regulatory approval processes. Although Noram believes that the assumptions used in preparing the forward-looking information in this news release are reasonable, including that all necessary regulatory approvals will be obtained in a timely manner, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Noram disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by applicable securities laws. *Updated Lithium Mineral Resource Estimate, Zeus Project, Clayton Valley, Esmeralda County, Nevada, USA (August 2021) **Preliminary Economic Assessment Zeus Project, ABH Engineering (December 2021).
Latin Resources Limited (ASX: LRS) (“Latin” or “the Company”) is pleased to announce the appointment of SGS Geological Services, Canada (“SGS”) to commence and manage a Preliminary Economic Assessment (“PEA”) on the Company’s Colina prospect, a part of the larger Salinas Lithium Project (“Project”), located in the pro-mining district of Minas Gerais in southeast Brazil (Figure 1 and Figure 2).
HIGHLIGHTS
Latin Resources has appointed leading mining consultant SGS Geological Services (SGS) to carry out Metallurgical test work, JORC Mineral Resource Estimation and a Preliminary Economic Assessment (PEA) on the Colina prospect, an important milestone in the future development of the Salinas Lithium Project in Brazil.
The PEA is being run in parallel with the current diamond drilling program which is designed to establish a maiden JORC Mineral Resource Estimate which will feed into the broader PEA studies.
Latin Resources also plans to commission SGS to build a pilot plant to produce a representative sample of lithium concentrate product.
Latin Resources expects to be positioned to fast track the project from PEA directly to Definitive Feasibility Study (DFS).
SGS is a global leader in metallurgy and process development providing an integrated approach and delivering expertise throughout the mining cycle. SGS has extensive spodumene lithium expertise and have recently completed other similar lithium project studies in the region including the SigmaLithium Grota do Cirilo Project DFS (NPV8% of US$5.1 Billion1).
The Company expects to deliver its maiden JORC Mineral Resource for the Colina prospect by the end of calendar year 2022, and complete the PEA by March 2023. On successful completion of the PEA, the Company anticipates progressing directly to a Definitive Feasibility Study (“DFS”) which is programmed to be completed by December 2023.
SGS will run a metallurgical test work program which may include variability sample analysis, semi quantitative XRD and QEMSCAN analysis, Heavy Liquid Separation (“HLS”) testing, and whole ore flotation analysis. The Company also plans to commission SGS to build a Dense Media Separation (“DMS”) pilot plant in Belo Horizonte, Minas Gerais and provide potential offtake customers with a representative lithium concentrate product.
Latinhasheldpreliminary discussions with several international car and battery manufacturers as well as leading lithium trading houses with respect to future supply of its lithium product. Latin has now taken the approach to fast track the feasibility studies to then hopefully secure offtake agreements with suitable customers.
This article includes content from Latin Resources Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Critical Resources Limited (ASX:CRR) (“Critical Resources” or “the Company”) is pleased to announce further results from its latest drilling campaign at the Company’s 100 per cent-owned Mavis Lake Lithium Project (“the Project”) in Ontario, Canada.
Highlights
Multiple spodumene-bearing pegmatite dykes intersected totalling 28.25m in step out hole in MF22-117 including 23.9m spodumene mineralisation from 126.1m to 150m downhole1,2,3
Multiple spodumene-bearing pegmatite dykes intersected totalling 14.6m in hole MF22-118 including 9.75m spodumene mineralisation from 247.75m to 257.5m downhole, demonstrating minearalisation at previously unseen depth1,2,3
A total of 53 of 59 drill holes have intersected spodumene-bearing pegmatite to date, including most recent holes from MF22-117 to MF22-118
Assay work is ongoing and will be released as received, the Company continues its pursuit of a maiden JORC-compliant resource
The visual spodumene-bearing pegmatite zones intersected in MF22-117 and MF22-118 are located down dip from previously announced MF22-116 zone (August 2, 2022 ASX Announcement). These visual zones illustrate the pegmatites geometries and that the zones continue at depth, with the greatest vertical depth drilled to date of ~250m within MF22-118.
These visual zones continue to provide support of significant pinching and swelling throughout the pegmatites. The swell areas can host a significant amount of spodumene laths (as confirmed through visual identification) and provide significant thickness of mineralisation. Understanding the geometries of the pegmatites will aid in further zone delineation as we continue to test the continuity east of Pegmatite 6 and towards Pegmatite 18.
A total of 7,960m out of 10,000m of approved drilling has been completed to date, with the Company’s primary focus to continue drilling an infill program, followed by testing the approximate 3km of potential strike length towards Pegmatite 18.
Immediate 50m infill drill-hole spacing will continue to test strike length and down-dip continuity to further delineate the spodumene-bearing pegmatites to underpin the development of a maiden JORC compliant resource.
The Mavis Lake Project’s location provides a strategic advantage, situated just 19km from the town of Dryden. The project area is adjacent to the main rail and road networks connecting directly to Thunder Bay, which is being touted as a proposed regional hub for lithium processing.
This article includes content from Critical Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Editor's note — This article was originally focused on the top Canadian lithium stocks, but has been expanded to cover the top lithium stocks globally. Click here to read about the top Canadian lithium stocks.
You can also click here to read the previous top lithium stocks article.
Lithium prices hit an all-time high in 2021 and continued that trend into 2022. Although prices have cooled slightly from their peak in March, they're still sitting near historic levels.
Here the Investing News Network takes a look at the top lithium stocks with year-to-date gains. The list below was generated using TradingView’s
stock screener on July 11, 2022, for Canadian companies, and July 13, 2022, for US and Australian companies. It includes companies listed on the NYSE, NASDAQ, TSX, TSXV and ASX; all top lithium stocks had market caps above $10 million when data was gathered.
SQM is one of the world’s largest lithium companies. It produces lithium out of Chile’s Salar de Atacama and brings it to the market in the form of lithium carbonate and lithium hydroxide.
SQM is developing the hard-rock Mount Holland lithium project in Australia through a joint venture with Wesfarmers (ASX:WES,OTC Pink:WFAFF). The company places a heavy emphasis on the sustainability of its operations, including a production process that involves 97.4 percent solar energy.
On March 2, SQM released its 2021 earnings report, including net income of US$585.5 million compared to US$164.5 million for 2020. April 26 brought its annual general shareholders meeting, for which it released its resolutions. SQM's share price spiked in May to hit US$90.21 on May 18, the same day the company announced both its Q1 earnings report and the approval of an interim dividend payment. It hasn’t released any news since then, but its share price continued to spike through late May, reaching a year-to-date high of US$113.33.
In Minas Gerais, Brazil, Sigma Lithium has its Grota do Cirilo hard-rock lithium project, which has been in production at a pilot scale since 2018. Sigma expects Phase I production of 220,000 metric tons (MT) annually. According to the company, its goal is to become “one of the world’s largest, lowest-cost producers of high-purity, environmentally sustainable lithium products.” Sigma is constructing its greentech dense media separation production plant, which will make its operations vertically integrated.
The company was recently recognized by the Bank of America (NYSE:BAC) as part of its “Top 50 Stocks for 10 Scarcity Themes.” In late March, the company announced environmental, social and governance steps it would be taking, including donating 7,000 food baskets to the region it operates in. In mid-April, the company updated its feasibility study for Grota do Cirilo with a potential production capacity increase to 450,000 MT per year. Its share price spent much of April and early May elevated before falling back down.
On May 26, Sigma filed a consolidated technical report that looks at two initial production phases for Grota do Cirilo. The integrated operation would source feedstock spodumene ore from the company's Phase 1 and Phase 2 lithium deposits to produce battery-grade, high-purity lithium concentrate. The company pegs the after-tax net production revenue at US$5.1 billion and the after-tax internal rate of return at 589 percent, and states that this expansion scenario "will potentially position (it) as the world’s fourth largest lithium producer." The news led to Sigma's share price spiking to a year-to-date high of US$18.30 on May 27.
Most recently, Sigma shared that it has increased the resource at Grota do Cirilo by 50 percent.
Nevada Sunrise Gold may have gold in its name, but 2022 has been all about lithium. The explorer wholly owns two lithium projects, the Gemini and Jackson Wash assets, which are located in the Lida Valley basin in Nevada. According to Nevada Sunrise, the valley shares similar geography to the nearby Clayton Valley basin, where Albemarle’s (NYSE:ALB) Silver Peak lithium mine is located. In addition to its lithium properties, the company owns 100 percent of the Coronado VMS project, 20 percent of the Kinsley Mountain gold project and 15 percent of both the Treasure Box copper project and the Lovelock Mine cobalt project.
In the first quarter, Nevada Sunrise Gold’s share price saw little movement, even as it commenced exploration at Gemini. It wasn’t until the company shared its first drill results on April 18 that its share price broke above C$0.10, jumping from C$0.08 to C$0.14 overnight. Further exploration results at the project, including 1,101 parts per million lithium over 730 feet, continued to drive its share price higher.
After rising through May and early June, the company’s share price hit a year-to-date high of C$0.36 on June 10 off the back of June 6 exploration results showing 327.7 milligrams of lithium per liter of water over 220 feet, as well as private placement news. Its most recent news came on July 11, when the company shared preliminary results from a May time-domain electromagnetic survey.
Jourdan Resources is focused on acquiring, exploring and developing hard-rock spodumene lithium projects in Quebec, Canada. Its current projects are the Vallée lithium, Baillarge lithium-molybdenum and Preissac-La Corne lithium. According to the company, it has the largest lithium exploration portfolio in Quebec.
Jourdan Resources’ share price saw a spike to start the year — hitting a year-to-date high of C$0.10 — but then performed relatively flatly for much of the first half of the year, staying mostly around C$0.05 to C$0.06. The company’s share price began to rise again in June, during which time it shared exploration results at Vallée, including a highlight of 3.2 meters at 1.56 percent Li2O. Its share price hit C$0.09 in June and again in July, and its most recent news came on July 7, when it shared its latest exploration results at Vallée.
Lithium Energi Exploration is an acquisition, exploration and development company working in South America’s Lithium Triangle, with over 72,000 hectares of lithium brine concessions in Argentina’s section of the triangle.
In January, the company announced that exploration and development with its joint venture partner Global Oil Management Group was accelerating. The name of the new joint venture is Triangle Lithium Argentina.
On March 24, the company shared that, alongside its new joint venture Triangle Lithium Argentina, it would soon commence exploration drilling in the Antofalla basin. This news caused its share price to shoot up over the following weeks, moving from C$0.21 on March 24 to a year-to-date high of C$0.35 by April 11. On June 21, the company announced that drilling had commenced, and would encompass 2,400 meters over six wells at the basin. Although its share price has fallen since its April highs, it’s still up significantly year-to-date.
Xantippe Resources is developing its Carachi lithium project in Argentina after pivoting to focus on what it calls the lithium super trend. The company’s goal is to provide high-purity, battery-quality lithium, and it is acquiring multiple tenements in the Lithium Triangle to accomplish that goal. Xantippe’s land package is located near Lake Resources’ (ASX:LAC,OTCQB:LLKKF) Kachi lithium project. In addition, the company has its Southern Cross gold project in Western Australia, which it is investigating for lithium-bearing pegmatites.
In 2022, Xantippe exercised its option to acquire Carolina Lithium, which gave it access to the Carachi Pampa project. Additionally, it has exercised its options to acquire the Rita and Rita 1 tenements, the La Sofia tenement and the Luz Maria tenement, all expanding the company's footprint in the Lithium Triangle. Xantippe's share price hit a year-to-date high of AU$0.015 in April.
On June 14, Xantippe announced that it had increased its footprint of lithium brine tenements in the country from 12,400 to 21,900 hectares after obtaining options for four more land packages. Most recently, the company obtained exploration and prospecting licences for the Southern Cross project.
According to Core Lithium, its Finniss lithium project in the Northern Territory is “one of Australia’s most capital-efficient and lowest-cost spodumene lithium projects.” First production is expected in the fourth quarter of 2022, and the company already has multiple four year offtake agreements in place with Ganfeng Lithium (SZSE:002460) and Sichuan Yahua Industrial Group (SZSE:002497).
On March 1, Core Lithium announced a four year offtake arrangement with Tesla (NASDAQ:TSLA) for up to 110,000 tonnes of lithium oxide spodumene concentrate from Finniss. Shares saw a spike at the beginning of April following the release of an update on exploration at its Finniss project, and Core hit a year-to-date high of AU$1.60 on April 4. A week later, the company announced that it was acquiring the Shoobridge lithium project near Finniss.
In May, Core shared its final 2021 lithium assays, which include a highlight of 35 meters of 0.84 percent Li2O, including 10 meters at 1.44 percent. The company has released two updates on development of the Finniss project in recent months, one in May and one in June. Most recently, the company shared that the mineral resource estimate for Finniss has increased by 28 percent to 18.9 million MT at 1.32 percent Li2O; Core believes that its 2022 drilling will lead to “further significant increases.”
Year-to-date gain: 26.62 percent; market capitalization: AU$453.01 million current share price: AU$0.975
Prospect Resources is a battery metals explorer and developer focused on Zimbabwe and sub-Saharan Africa. The company is in the early stages of an exploration program at its Step Aside lithium project in the Harare greenstone belt in Zimbabwe. The company anticipates drilling in Q3 2022.
In April, the company completed the sale of its 87.5 percent interest in the Arcadia lithium project to Huayou International Mining (Hong Kong), which is a subsidiary of Zhejiang Huayou Cobalt (SHA:603799). Prospect received US$342.9 million in net proceeds from the sale, the majority of which it plans to distribute to shareholders. On April 29, the company shared its quarterly activities report for Q1. The company’s share price has climbed through the year to reach a year-to-date high of AU$0.99 on July 8.
Is lithium a good investment?
The lithium price has seen huge success over the past year, and many stocks are up alongside that. It's up to investors to decide if it's time to get in on the market, or if they’ll try to wait for a dip.
A wide variety of analysts are bullish on the market as electric vehicles continue to prosper, and lithium demand from that segment alone is expected to continue to rise. These experts believe the lithium story's strength will continue over the next decades as producers struggle to meet rapidly growing demand.
How to invest in lithium
Unlike many commodities, investors cannot physically hold lithium due to its dangerous properties. However, those looking to get into the lithium market have many options when it comes to how to invest in lithium.
Lithium stocks like those mentioned above could be a good option for investors interested in the space. If you’re looking to diversify instead of focusing on one stock, there is the Global X Lithium & Battery Tech ETF (NYSE:LIT), an exchange-traded fund (ETF) focused on the metal. Experienced investors can also look at lithium futures.
How to buy lithium stocks
Lithium stocks can be found globally on various exchanges. Through the use of a broker or an investing service such as an app, investors can purchase individual stocks and ETFs that match their investing outlook.
Before buying a lithium stock, potential investors should take time to research the companies they’re considering; they should also decide how many shares will be purchased, and what price they are willing to pay. With many options on the market, it's critical to complete due diligence before making any investment decisions.
It's also important for investors to keep their goals in mind when choosing their investing method. There are many factors to consider when choosing a broker, as well as when looking at investing apps — a few of these include the broker or app's reputation, their fee structure and investment style.
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Lauren Kelly, currently hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Nevada Sunrise Gold and Jourdan Resources are clients of the Investing News Network. This article is not paid-for content.
Critical Resources Limited (ASX:CRR) (“Critical Resources” or the “Company”), advises that further to the announcements dated 9 April 2021, 2 August 2021, 10 August 2021 and 26 August 2021 the Company has reached a mutually agreeable outcome with the Ministry of Energy and Minerals, Sultanate of Oman (Minerals Department) regarding license fees for the ongoing exploration of Block 4 and Block 5, Sohar Copper Project in Oman.
The Block 5 resource, for which Critical Resources holds a 65% interest is a high grade, near surface, copper plus silver and gold resource.
About Sohar Copper Project
The Company’s assets are located near Sohar in the Sultanate of Oman.
The Project covers 1,006 km² of the copper-rich Ophiolite belt, proven to host clusters of relatively high grade VHMS copper deposits. Ores within these deposits are metallurgically simple and contain gold and silver credits.
The Company holds a 51% interest in Block 4 (granted Exploration Licence), a 65% interest in Block 5 (granted Exploration Licence and 2 Mining Lease applications) and a 70% interest in two Exploration Licence applications near Block 10 to the West of Blocks 4 and 5.
Measured, Indicated and Inferred Mineral Resources (2012 JORC) of 0.82Mt at 3.4% Cu (including a high-grade zone of approximately 0.5Mt at 4.5% Cu)(gross deposit) is contained in two deposits within Block 5. Contained metal is reported at 28,000 tonnes of Copper, 5,900 ounces of Gold and 220,000 ounces of Silver. Further details can be seen in the Company’s announcement of 1 September 2020.
This article includes content from Critical Resources, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
European Lithium Limited (ASX: EUR, FRA: PF8, OTC: EULIF) (EUR or the Company) is pleased to announce it has signed a non-binding memorandum of understanding (MoU) with European auto manufacturer BMW AG (BMW) to secure EUR’s first offtake of battery grade Lithium Hydroxide (LiOH).
Highlights
EUR to provide exclusive rights to supply battery grade lithium hydroxide;
MoU establishes understanding to negotiate final commercial terms, including US$15m prepayment
EUR Chairman, Tony Sage, commented: "Securing our first offtake with BMW AG is another key milestone for the Company. Partnering with BMW AG is an ideal fit for EUR".
Under the MoU, EUR and BMW AG will work together to negotiate suitable commercial terms for BMW AG to purchase the LiOH produced by EUR. EUR grants BMW AG the first right to purchase 100% of the LiOH produced from the identified resources.
In the event both parties agree to a binding contract, BMW AG will make an upfront payment of US$15 million, which will be repaid through equal set offs against LiOH delivered to BMW AG. Proceeds from the prepayment will be used for the development of the Wolfsberg Project including supporting the commencement of the construction phase and further progress towards the successful implementation of the Wolfsberg Project.
Securing its first offtake is a key milestone allowing the Company to focus on the final steps of development and implementation of the Wolfsberg Project while it looks to the future and builds a portfolio of prospective battery metals projects located in Europe.
The parties are currently negotiating binding agreements, and no assurance is given that the any binding agreements will be entered into.
About the BMW Group
With its four brands BMW, MINI, Rolls-Royce and BMW Motorrad, the BMW Group is the world’s leading premium manufacturer of automobiles and motorcycles and also provides premium financial and mobility services. The BMW Group production network comprises over 30 production sites worldwide; the company has a global sales network in more than 140 countries.
In 2021, the BMW Group sold over 2.5 million passenger vehicles and more than 194,000 motorcycles worldwide. The profit before tax in the financial year 2021 was € 16.1 billion on revenues amounting to € 111.2 billion. As of 31 December 2021, the BMW Group had a workforce of 118,909 employees.
The success of the BMW Group has always been based on long-term thinking and responsible action. The company set the course for the future at an early stage and consistently makes sustainability and efficient resource management central to its strategic direction, from the supply chain through production to the end of the use phase of all products.
This announcement has been authorised for release to the ASX by the Board of the Company.
This article includes content from European Lithium Limited, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
Click here to read the previous lithium market update.
After rallying to all-time highs in 2021, lithium prices began to stabilize in the first few months of 2022.
Demand for the battery metal is expected to soar in the coming decades, with questions about supply increasing.
How did lithium perform in the second quarter of 2022, and what’s ahead for the commodity in the near term? The Investing News Network (INN) asked experts about the main news that impacted the lithium market in Q2, plus a look at what investors should watch for during the rest of the year.
Lithium market update: Price performance
Last year saw lithium climb on the back of strong demand from the electric vehicle (EV) industry, and even though prices have started to stabilize, they're up over 123 percent, as per Benchmark Mineral Intelligence data.
On the supply side, availability of material from domestic Chinese brineresources ramped up as expected over late Q2 as warmer weather improved seasonal evaporation rates, analyst Daisy Jennings-Gray told INN.
Meanwhile, on the demand side, COVID-19 lockdowns in China, particularly Shanghai, gave rise to an unexpected hit on demand from the EV sector, with a number of vehicle manufacturing plants shutting down over April.
“Given growing concerns over rising COVID-19 cases in China, combined with reports that Chinese regulators were looking to prevent prices from climbing so rapidly, there were some expectations at the beginning of Q2 that lithium prices might not see the same upward climb experienced in Q1, with this expectation coming to reality,” Jennings-Gray, who works for Benchmark Mineral Intelligence, said.
“What we're seeing is just a pause on the demand side because of the lockdowns in China,” he said. “And I think it's more that consumer demand has been constrained rather than falling back.”
As lockdown measures ease, Adams is expecting lithium prices to move higher.
“I don’t think we’ve seen the peak in prices yet,” he told INN at the event, which was held in Phoenix, Arizona. “We expect to see that towards the end of this year, or maybe the first quarter next year.”
Listen to the interview above for more thoughts on lithium from Fastmarkets' Adams.
For Martin Jackson of CRU Group, prices have remained higher than expected due to renewed demand from China post-lockdowns. “(We) certainly expect them to track lower in Q3 before demand returns again in Q4,” he said.
Lithium market update: Supply and demand
At the end of 2021, most analysts agreed that demand would outpace supply in 2022, and they were forecasting a deficit ahead. Even though a supply response is expected from the market, which could alleviate the current tightness, demand for lithium is still expected to be higher as EV sales continue to increase in key markets.
June figures from the Chinese EV market show that the industry has already seen a significant recovery following lockdowns in Shanghai, with record-breaking production and sales numbers. For 2022, EV sales in the leading Asian country are expected to reach 6.4 million units, more than double 2021 levels, S&P Global predicts.
“Provided there are no further strict lockdowns that could impede production, it seems like demand from the EV sector will continue to accelerate into Q3,” Jennings-Gray said.
The market still looks tight heading into H2, with a limited number of new lithium projects set to come online.
“There are some expansion ambitions in the pipeline that could provide some additional supply-side relief if project timelines are met. However, it seems unlikely that this will balance strong demand from the EV industry,” Jennings-Gray added.
It is probable that demand hindered from the second quarter will be shifted to the second half of the year, “when demand is typically at its highest anyway,” the analyst said.
All in all, Benchmark Mineral Intelligence is still forecasting a lithium market deficit in 2022.
“Investments from Chinese majors into lithium resources in Jiangxi province, alongside improved utilization rates at existing mines in the region, led to a slight increase on the supply side from the Chinese domestic market in the Q2 forecast,” Jennings-Gray said. “However, our expectations over the ability to ramp up this supply further remain conservative, hence we don't expect to see the market balancing on this alone.”
At the same time, demand has remained strong yet stable despite COVID-19 lockdowns in China.
“So we haven't factored in any relief from the demand side, with any stymied demand in Q2 pushed to the latter half of 2022 or early 2023,” Jennings-Gray said.
Lithium market update: Oversupply fears hit, stocks under pressure
During Q2, investment bank Goldman Sachs (NYSE:GS) released a report that increased investors' worries over potential excess lithium supply; the bank also predicted a sharp correction in prices by the end of next year.
However, for Benchmark Mineral Intelligence, the lithium market will remain in structural shortage until 2025.
“The lithium market will balance over the next few years, but it’s unlikely that an unprecedented ramp-up of marginal, unconventional feedstock will fill the deficit. It is also unlikely that demand will weaken significantly,” analysts at the firm said in a note.
Similarly, iLi Markets' Daniel Jimenez doesn’t think supply will be able to catch up with demand at least until 2026 to 2027, mainly because of the difficulty of bringing greenfield projects into production at full capacity.
“Over this period of time, lithium should be the limiting factor in EV sales,” he told INN. “Even with demand growing very strongly, the investments the industry is making today might yield additional capacity in six to 10 years from now that we are not able to see today.”
Speaking with INN in late June, lithium expert Joe Lowry of Global Lithium said the market is in a real structural shortage that is going to last a few years.
“It will be internalized by just about everybody by 2023,” he said. “It's going to be an interesting few years. But I do think that the lithium situation will force adjustments by the OEMs.”
Listen above to learn why lithium expert Lowry thinks lithium's time has come.
With macroeconomic variables hitting the stock market and bearish reports calling for an oversupply situation, lithium stocks have been experiencing downward pressure.
Commenting on the disconnect seen between the stock market and lithium prices, Jon Hykawy of Stormcrow Capital said the electrification of fleets is unstoppable at this point.
“How fast we're going to see that transition, I guess, is the question,” he told INN during an interview at the Fastmarkets lithium conference. “But at this point, optimism is warranted and the stock market eventually will get over whatever it's getting over and it will come back.”
For Chris Berry of House Mountain Partners, when commodities price takes off, it is usually expected to see the equities follow suit. “It's no surprise, in my view, to see the equities kind of take a breather,” he told INN in June.
Berry talked to INN about lithium prices and what's ahead for the market. Listen above to learn more.
When asked about the main challenges faced by lithium miners to bring new supply to the market, CRU’s Jackson pointed to a shortage of technical skills to construct and ramp up new lithium production capacity.
“(Another factor is) attracting investment into mining instead of the middle of the value chain, which has been difficult in the past due to reputational concerns, volatility and environmental, social and governance issues."
For producers, ramping up supply to meet demand will remain a challenge, Jennings-Gray said, with some miners already announcing ambitious expansion projects this year in a bid to keep up with customer requests.
“Further downstream, high feedstock prices will likely be a challenge for refiners, who will continue to see their margins squeezed,” she said.
For newer lithium project developers, sticking to project timelines remains an obstacle.
“(This is) particularly (relevant) if project financing is hinged on offtake agreements that contain deadlines for first delivery, although there are very few new projects set to come online before the end of the year, so this is more of a longer-term target to meet,” Jennings-Gray added.
Commenting on junior mining, Emily Hersh, CEO of Luna Lithium, said entering the lithium market isn't an easy task, and new entrants to the industry face many hurdles.
“There's a lot of noise in terms of what's happening in the market. You really can't control what market conditions are going to be at any given point in time,” Hersh told INN.
Lithium market update: What’s ahead for prices and key catalysts to watch
As the third quarter of the year continues to unfold, there are a few factors that could impact the lithium space.
Typically, additional supply from the Qinghai brine projects across the summer months provides some supply-side relief in China, so this may contribute to continued stabilization across late Q2 and Q3, Jennings-Gray said.
“However, demand remains very high, and EV production and sales statistics rebounded significantly in June following the easing of lockdown restrictions in July, breaking records,” she said. “This could drive some further upside potential for lithium pricing, with demand for carbonate within the Chinese domestic market particularly robust under the resurgence of lithium-iron-phosphate cathode production.”
Outside of China, it is expected that contracted prices will continue to catch up with the Chinese domestic market over Q3, as they did in Q2.
“Although some of the stability in the Chinese market will be translated through to the international market, so price increases may not be quite as significant,” Jennings-Gray said.
The global economic picture will also play into lithium market dynamics in Q3.
“Recession risks, debt levels in China (and) surging inflation cutting into real income in North America and Europe” are all factors that could impact the space, CRU’s Jackson said.
Additionally, the Russia-Ukraine conflict will remain a focus in the European and North American markets.
"The hydroxide market remains very tight given restrictions on the purchasing and transportation of Russian material, which previously acted as a notable source of hydroxide supply for the European market," Jennings-Gray said. “Concerns over hydroxide supply are likely to extend across the rest of the year.”
Don’t forget to follow us @INN_Resource for real-time news updates!
Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.
