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Widespread EV Adoption Lifts Demand for Lithium


News provided by

FinancialBuzz.com

02 Nov, 2022, 13:00 GMT

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FinancialBuzz.com News Commentary

NEW YORK, Nov. 2, 2022 /PRNewswire/ -- Lithium-ion batteries are being rapidly adopted due to their compact size, rechargeability, recyclability and high-density energy output. They are, among other things, a source of power for electric vehicles (EVs). Additionally, the growing awareness about the amount of carbon emissions released into the environment from automobiles has helped spur the adoption of electric vehicles around the globe. This, in turn, has put the onus on manufacturers to offer electric vehicles running on lithium-ion batteries, instead of adopting other battery alternatives due to their lightweight nature, high energy density, and low cost. Now, it is expected that the global lithium-ion battery market will grow at a CAGR of around 26.04% to reach a value of around USD 160.21 Billion by 2026, having stood at USD 42.30 Billion in 2020, according to Research and Markets. Infinity Stone Ventures Corp. (OTC: GEMSF) (CSE: GEMS), Snow Lake Resources Ltd. (NASDAQ: LITM), Standard Lithium Ltd. (NYSE: SLI), Lordstown Motors Corp. (NASDAQ: RIDE), Li Auto Inc. (NASDAQ: LI)

According to data provided by Allied Market Research, the global electric vehicle market was valued at USD 162.34 Billion in 2019, and is projected to reach USD 802.81 Billion by 2027 while registering a CAGR of 22.6%. Geographically, the Asia-Pacific region has been the highest revenue contributor, accounting for USD 84.84 Billion in 2019, and is estimated to reach USD 357.81 Billion by 2027, with a CAGR of 20.1%. Nevertheless, the North America region is expected to grow faster, as it is estimated to reach USD 194.20 Billion by 2027 at a significant CAGR of 27.5%.

Infinity Stone Ventures Corp. (OTCQB: GEMSF) (CSE: GEMS) provided last week, "an exploration update on its Camaro and Hellcat Lithium Project (the "Camaro - Hellcat Project") adjacent to Patriot Battery Metals' ("PMET" or "Patriot") Corvette Lithium Discovery in the James Bay Lithium District of Quebec.

The fall exploration program, conducted by Axiom Exploration Group, Infinity Stone's contracted technical team, (the "Fall Program") was extremely successful in confirming historically mapped pegmatites and identified new showings. 87 samples were collected over 3,850 hectares of claims adjacent to the Patriot discovery. The samples have been shipped to the Saskatchewan Research Council ("SRC") lab in Saskatoon, Sask., with assay results expected to be returned in the coming weeks.

One of the significant highlights of the Fall Program was the identification of a cluster of highly prospective pegmatitic dykes and cross cutting structures near the northern margin of the Hellcat claims extending to the north, which resulted in the Company expanding its claim area.

The white, coarse grained, pegmatite dykes in this area were mineralogically characterized by tourmaline, garnet, and muscovite which are common LCT (Lithium-Cesium-Tantalum) pegmatite indicator minerals in the district.

The Hellcat claims are underlain by 9 km of strike length of underexplored greenstone and metasediments of the Mesoarchean Rouget formation and Neoarchean Marbot formation, respectively. The under-explored Rouget formation greenstone belt represents an attractive exploration target which is geologically similar and proximal to the Guyer Group greenstone, which hosts the PMET Corvette Pegmatites.

Infinity Stone is in the process of defining the next steps of its exploration program, including conducting a geophysical survey of the Project ahead of a planned drill program in early Q1 2023. With the increased infrastructure in the area, winter access and operability to the Corvette lithium trend has improved considerably, ultimately enabling winter drilling on the Camaro - Hellcat Project.

'We are excited to further our exploration efforts on the Hellcat - Camaro Project with the identification of pegmatites underlain by the Rouget greenstone, presenting parallels to the geology underlying Patriot's Corvette discovery and warranting further exploration,' said Zayn Kalyan, CEO of Infinity Stone. 'The progress made on our James Bay Property, alongside the ongoing exploration on our other assets, is timely given the rapid growth of the lithium and battery metal market over the past months. Nearly every day there is another announcement regarding expansion in the North American battery metals supply chain. Every major car manufacturer and battery manufacturer is in the process of building out infrastructure in Canada and the US, all in the context of considerable government support, including the recent announcement by the Biden administration of $2.8 billion in support for manufacturing and processing companies in the battery metals space' furthered Mr. Kalyan."

Snow Lake Resources Ltd. (NASDAQ: LITM) announced on October 4th, that it hosted LG Energy Solution in Manitoba, Canada on September 13th to explore the potential next step towards building a domestic supply chain for the North American electric vehicle market. Philip Gross, CEO Snow Lake Lithium said, "The visit was a great success and there is an exceptional opportunity here in Manitoba to establish a strong domestic supply chain for the US automobile industry. Following our exciting collaboration with world-leading LG Energy Solution we are confident that our rock to road battery supply chain will help the electric vehicle market in North America."

Standard Lithium Ltd. (NYSE: SLI) provided an update last week on its commercial development activities in El Dorado, Arkansas. The Hydroxide Pilot plant was designed and constructed by a third-party global water and process technology vendor earlier in 2022, and was successfully installed and commissioned in early October at the Project site. The technology is housed in a self-contained unit and takes the lithium chloride feed produced by the Company's existing Direct Lithium Extraction (DLE) Demonstration Plant; it then converts this feed directly into a lithium hydroxide solution using a novel ion-exchange process. The lithium hydroxide solution generated by the Hydroxide Pilot will be sent offsite to another location operated by the third-party vendor to complete evaporation and crystallization work to produce battery quality lithium hydroxide.

Lordstown Motors Corp. (NASDAQ: RIDE) announced back in September that it has started commercial production of its Endurance™ full-size pickup truck, and provided a business update. "We will continue to build at a slow rate as we address remaining part pedigree and part availability issues. We expect to increase the speed of production into November and December," said Edward Hightower, Lordstown CEO and President. "Our homologation and certification processes are proceeding as planned." Lordstown Motors is an electric vehicle (EV) OEM developing innovative light duty commercial fleet vehicles, with the Endurance all electric pickup truck as its first vehicle and being launched in the Lordstown, Ohio facility.

Li Auto Inc. (NASDAQ: LI) announced yesterday that the Company delivered 10,052 vehicles in October 2022, up 31.4% year over year. The cumulative deliveries of Li Auto vehicles reached 221,067 as of the end of October. "Since its launch, Li L8 has received positive user feedback and wide recognition, off to a strong start with continued increase in orders. We will officially commence delivery of Li L8 this month. Separately, orders for Li L9 remained robust and the level of its user satisfaction continued to exceed their expectations, further solidifying our market position in the RMB400,000 and higher segment," commented Yanan Shen, co-founder and president of Li Auto.

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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.

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 infinity stone ventures corp. video production, filming editing, news reporting, financial and corporate news dissemination, FinancialBuzz.com has been compensated three thousand dollars by cambridge consulting inc. 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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