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Funding Grows for Expanding Lithium Mining Projects


News provided by

FinancialBuzz.com

21 Jan, 2022, 14:00 GMT

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- FinancialBuzz.com News Commentary

NEW YORK, Jan. 21, 2022 /PRNewswire/ -- The demand for lithium is on the rise. The element, which is found in dry places and requires thousands of liters of water to be mined, is a crucial component for the manufacturing of batteries, including those utilized in Electric Vehicles (EVs). Because of the difficulty associated with mining lithium, there are heavy investments made into R&D. For example, in February 2020, funding of around USD 20 million by Bill Gates was provided to Lilac Solutions, a lithium mining technology firm located in the U.S. According to the Lilac Solutions, its ion exchange technology is two times more efficient compared to the current mining process and requires a fraction of time. And according to data published by Research and Markets, the global lithium market size is expected to reach USD 8.2 Billion by 2028. The market is expected to expand at a CAGR of 14.8% from 2021 to 2028. Foremost Lithium Resource & Technology Ltd. (CSE: FAT) (OTC: FRRSF), Standard Lithium Ltd. (NYSE: SLI), Lithium Americas Corp. (NYSE: LAC), Livent Corporation (NYSE: LTHM), Snow Lake Resources Ltd. (NASDAQ: LITM)

Lithium proved to be an essential mineral for the electrification of vehicles as LiOH, a white hygroscopic crystalline material and an inorganic compound, is mostly used by lithium-ion battery manufacturers. According to Platts Analytics, global plug-in light-duty EV sales are expected to rise to 6.5 million units in 2022 and 10.5 million units in 2025, up from an estimated 6 million units in 2021 and 3.1 million units in 2020.

Foremost Lithium Resource & Technology Ltd. (CSE: FAT) (OTC: FRRSF) announced yesterday breaking news regarding, "the acquisition of The Grass River Claims, located in the historic mining district of Snow Lake Manitoba, 6.5 kilometers east of the Zoro lithium property. The Grass River Claims ("GRC") consist of 27 claims totaling 14,873 acres and hosts multiple pegmatites exposed in outcrop and 7 drill-indicated spodumene-bearing pegmatite dykes. This acquisition significantly expands the Company's Snow Lake Lithium project by 130% to an amalgamated 26,276 acres making Foremost the largest lithium exploration company in Snow Lake…

The Company's plans include moving forward with significant working-capital and utilizing modern geophysical and geochemical technologies to supplement boots-on-the-ground prospecting to further explore the GRC spodumene-bearing pegmatite dykes. Modern exploration on the GRC pegmatites has not been undertaken in more than 60 years.

Foremost Lithium will commence exploration on the GRC once the snow has melted and will proceed as follows:

  • First pass prospecting of outcrop areas on the claim block focusing on known pegmatite
  • EarthEx Drone-Assisted Magnetic Survey. This is the identical technology the Company recently applied to the Jean Lake property to define the 3D extent and magnetic signature of the high-grade spodumene-bearing Beryl pegmatite dykes
  • Surficial geochemical surveys including Mobile Metal Ions. MMI Technology is the same soil geochemical technology utilized by Foremost on the Zoro property to delineate new drill targets and discovered high-grade spodumene-bearing Dyke 8
  • Identify and drill specific high-value targets defined by integrating historic and new exploration datasets

Scott Taylor, President & CEO of Foremost Lithium, adds, 'I woke up this morning with a big smile as I see this as a phenomenal opportunity to significantly increase the tonnage of our lithium resource, and deliver shareholder value. The acquisition of the Grass River Claims is a 130% increase in Foremost Lithium's ground position in Snow Lake, and a material increase in the number of historically drill-indicated spodumene bearing pegmatite dykes on our property. I would also like to personally to express my most sincere gratitude to our team: Dr. Mark Fedikow, Jake Ziehlke Todd McCracken, and Brad Gogal (Gogal Air Services) who all worked tirelessly over the holidays in harsh winter conditions to stake and register these claims with the Manitoba Mining Recorder. Without such valuable and valiant team efforts, we couldn't continue to deliver such milestone moments for our company and shareholders.'

Rystad recently indicated the price for lithium carbonate for batteries in China of 300,000 yuan per tonne, nearly 43% higher than the previous month's 210,000, and an increase for lithium hydroxide from 192,000 to 290,000 yuan, with lithium carbonate price rising 43% in China month over month. The Global adoption of electric vehicles is accelerating and with this announcement of the acquisition of The Grass River Claims in Snow Lake Manitoba, Foremost Lithium continues to position itself as a contender in the lithium exploration landscape.

Technical information contained in the press release has been approved by the Company's VP of Exploration, Dr. Mark Fedikow, , P.Eng., P.Geo, who is a "Qualified Person" within the meaning of National Instrument 43-101 Standards of Disclosure for Mineral Projects. Dr. Fedikow holds Honours B.Sc. and M.Sc. degrees in geology, geophysics and geochemistry from the University of Windsor (Canada) and a Ph.D. in exploration geochemistry from the School of Applied Geology, University of New South Wales in Sydney (Australia)."

Standard Lithium Ltd. (NYSE: SLI) announced on December 15th, 2021 that it has signed a Letter of Intent ("LOI") with Koch Engineered Solutions ("KES") for support with pre-front end engineering design ("pre-FEED") at the Company's proposed first commercial plant located at the Lanxess facility in southern Arkansas.  "KES is focused on accelerating growth in energy transformation with an eye on the fast-growing renewables market. Our collaboration with Standard Lithium showcases KES's commitment to working with our partners to provide best in class process equipment, engineering, procurement, and construction services. We are excited to help grow the battery value chain and look forward to working with Standard Lithium on this historic project," said Dan Haycook, chief commercial officer for Koch Engineered Solutions.

Lithium Americas Corp. (NYSE: LAC) and Millennial Lithium Corp. announced on November 17th, 2021 that they have entered into a definitive arrangement agreement dated November 17, 2021 (the "LAC Arrangement Agreement") pursuant to which Lithium Americas has agreed to acquire all of the outstanding shares of Millennial (each, an "ML Share") by way of a plan of arrangement (the "LAC Transaction") for C$4.70 per ML Share, payable in common shares of Lithium Americas (the "LAC Shares") and C$0.001 in cash per ML Share (collectively, the "Purchase Price"), representing total consideration of approximately US$400 million. Based on Lithium Americas' closing price on November 16, 2021, this consideration would result in Millennial Shareholders owning approximately 9.1% of Lithium Americas.  "This transaction is a rare opportunity to add a complementary lithium brine project and leverage our expertise developing Caucharí-Olaroz as the largest new lithium carbonate operation to come online in over 20 years," said Jonathan Evans, President and CEO of Lithium Americas. "We are confident Pastos Grandes can provide significant value for all shareholders as we execute on our growth strategy in the region over the coming years."

Livent Corporation (NYSE: LTHM) announced on November 1st, 2021, its proprietary LIOVIX™ lithium metal product, a unique printable formulation of lithium metal and other specialty materials that can improve the performance of lithium-ion batteries, reduce manufacturing costs and enable the next generation of battery technology, all while enhancing safety and sustainability. "Our customers continue to look to us for innovative and sustainable solutions that can improve battery performance, safety and manufacturing efficiency.  We look forward to bringing LIOVIX™ to the market in the future as a product to help meet these growing requirements while opening pathways for the development of next generation battery technology," said Paul Graves, president and chief executive officer of Livent.

Snow Lake Resources Ltd. (NASDAQ: LITM), d/b/a Snow Lake Lithium Ltd. announced on December 20th, 2021, an update to it's stakeholders on it's progress toward commercial lithium production.  Snow Lake has entered into a contractual agreement with SGS Natural Resources in Lakefield, ON to perform the necessary metallurgical testing required for the preliminary economic assessment, or PEA, and for the subsequent pre-feasibility study, or PFS.  CEO of Snow Lake Lithium, Philip Gross, commented "We are currently running to achieve full scale production and seeking to quantify all unknown variables. The SGS metallurgical studies will provide the critical data needed to complete our PEA, initiate a PFS and confirm our trajectory to becoming the first B Corp fully renewable, carbon neutral North American hydroxide producer to the EV industry."

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About FinancialBuzz.com 

FinancialBuzz.com, a leading financial news informational web portal designed to provide the latest trends in Market News, Investing News, Personal Finance, Politics, Entertainment, in-depth broadcasts on Stock News, Market Analysis and Company Interviews. A pioneer in the financially driven digital space, video production and integration of social media, FinancialBuzz.com creates 100% unique original content. FinancialBuzz.com also provides financial news PR dissemination, branding, marketing and advertising for third parties for corporate news and original content through our unique media platform that includes Newswire Delivery, Digital Advertising, Social Media Relations, Video Production, Broadcasting, and Financial Publications.

Please Note: FinancialBuzz.com is not a financial advisory or advisor, investment advisor or broker-dealer and do not undertake any activities that would require such registration. The information provided on http://www.FinancialBuzz.com (the 'Site') is either original financial news or paid advertisements provided [exclusively] by our affiliates (sponsored content), FinancialBuzz.com, a financial news media and marketing firm enters into media buys or service agreements with the companies which are the subject to the articles posted on the Site or other editorials for advertising such companies. FinancialBuzz.com has not been compensated directly by any of the companies mentioned here in this editorial unless mentioned otherwise. We are not an independent news media provider and therefore do not represent or warrant that the information posted on the Site is accurate, unbiased or complete. FinancialBuzz.com receives fees for producing and presenting high quality and sophisticated content on FinancialBuzz.com along with other financial news PR media services. FinancialBuzz.com does not offer any personal opinions, recommendations or bias commentary as we purely incorporate public market information along with financial and corporate news. FinancialBuzz.com only aggregates or regurgitates financial or corporate news through our unique financial newswire and media platform. For foremost lithium resource & technology ltd. video production, filming editing, news reporting, financial and corporate news dissemination, FinancialBuzz.com expects to be compensated five thousand dollars by the company. Our fees may be either a flat cash sum or negotiated number of securities of the companies featured on this editorial or site, or a combination thereof. The securities are commonly paid in segments, of which a portion is received upon engagement and the balance is paid on or near the conclusion of the engagement. FinancialBuzz.com will always disclose any compensation in securities or cash payments for financial news PR advertising. FinancialBuzz.com does not undertake to update any of the information on the editorial or Site or continue to post information about any companies the information contained herein is not intended to be used as the basis for investment decisions and should not be considered as investment advice or a recommendation. The information contained herein is not an offer or solicitation to buy, hold or sell any security. FinancialBuzz.com, members and affiliates are not responsible for any gains or losses that result from the opinions expressed on this editorial or Site, company profiles, quotations or in other materials or presentations that it publishes electronically or in print. Investors accept full responsibility for any and all of their investment decisions based on their own independent research and evaluation of their own investment goals, risk tolerance, and financial condition. FinancialBuzz.com. By accessing this editorial and website and any pages thereof, you agree to be bound by the Terms of Use and Privacy Policy, as may be amended from time to time. None of the content issued by FinancialBuzz.com constitutes a recommendation for any investor to purchase, hold or sell any particular security, pursue a particular investment strategy or that any security is suitable for any investor. This publication is provided by FinancialBuzz.com. Each investor is solely responsible for determining whether a particular security or investment strategy is suitable based on their objectives, other securities holdings, financial situation needs, and tax status. You agree to consult with your investment advisor, tax and legal consultant before making any investment decisions. We make no representations as to the completeness, accuracy or timeless of the material provided. All materials are subject to change without notice. Information is obtained from sources believed to be reliable, but its accuracy and completeness are not guaranteed. For our full disclaimer, disclosure and Terms of Use, please visit: http://www.financialbuzz.com.

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