ALBemarle Corporation (NYSE: ALB), a leader in the global specialty chemicals industry, announced today that it will release its first-quarter 2022 earnings after the NYSE closes on Wednesday, May 4, 2022 .
The company will hold its conference call to discuss first-quarter 2022 results on Thursday, May 5 , at 9:00 a.m. ET . This call will be webcast and can be accessed through Albemarle Corporation's website at http://investors.albemarle.com , via the webcast link below or by phone at the following numbers:
US Toll free: + 1 844 200 6205 International direct: +1 929 526 1599 Access code: 277103 Webcast: Q1 Webcast Link
To avoid registration wait times, participants are encouraged to use the webcast link as the primary listening source. If a caller is anticipating asking a question, please dial in 15 minutes before the start of the call to be placed in the queue early.
An online replay of this call will be available on Albemarle Corporation's website (for 12 months) and by phone at the following numbers (for 7 days):
US Toll free: +1 866 813 9403 International direct: +44 204 525 0658 Access Code: 840105
About Albemarle ALBemarle Corporation (NYSE: ALB) is a global specialty chemicals company with leading positions in lithium, bromine and catalysts. We think beyond business as usual to power the potential of companies in many of the world's largest and most critical industries, such as energy, electronics, and transportation. We actively pursue a sustainable approach to managing our diverse global footprint of world-class resources. In conjunction with our highly experienced and talented global teams, our deep-seated values, and our collaborative customer relationships, we create value-added and performance-based solutions that enable a safer and more sustainable future.
We regularly post information to www.albemarle.com , including notification of events, news, financial performance, investor presentations and webcasts, non-GAAP reconciliations, SEC filings and other information regarding our company, its businesses and the markets it serves.
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Benton Resources Inc. (TSXV: BEX) ("Benton" or "the Company") today announces results from the Phase II drilling program at its Far Lake Copper-Silver project located 80 km west of Thunder Bay, Ontario. The second phase of drilling at Far Lake totaled 2,696 m and was designed to test new areas associated with surface mineralization as well as various chargeability anomalies outlined by a deep, 3D IP geophysical survey. Highlights from this latest campaign include copper mineralization in the previously untested Centre Pond zone, intersected at a drill hole depth of 338 m (DDH FL-21-17).
Benton continues to be encouraged by the Cu mineralization identified in this intrusive complex and will continue to model the data collected for further targeting on the project. The Company is presently collecting up to 3,500 soil samples for multi-element analysis and is actively mapping and prospecting the property to generate further targets for drilling later this year. Geochemical anomalies identified in 2020 soil sampling led to the discovery at FL-20-11.
Additional sampling of DDH FL-20-11 (drilled in the first campaign) increased the width of a previously released mineralized interval by 4 m, expanding the mineralized zone to 0.15% Cu over 64.2 m including 0.35% Cu over 15.6 m and 1.08% Cu and 1.63 g/t Ag over 2.6 m.
Drill hole FL-20-11 is located approximately 1,800 m NW along the same structure as the Far Lake Discovery Zone where surface sampling produced Cu grades up to 22% over 0.7 m and first phase drill results yielded intercepts of 0.19% Cu and 0.34 g/t Ag over 33.6 m including 1.11% Cu and 1.33 g/t Ag over 3.1 m (FL-20-03). The Discovery Zone continues to be interrupted by mafic dykes and the Company continues to model the dykes to better understand the structure controlling mineralization and to avoid hitting them in future drilling within the mineralized zones.
Drill holes FL-21-13 & 14 were drilled in the vicinity of hole FL-20-11 (0.15% Cu over 64.2 m) and were successful at intersecting the granodiorite with advanced argillic alteration that hosts up to 5% chalcopyrite locally. Additionally, the granodiorite includes moderate phyllic (chl-ser), propylitic (qtz-epi-carb) and weak potassic (kspar-alb-qtz) alteration. Highlights from these holes include 0.25% Cu over 3 m and 0.12% Cu over 3 m, in holes 13 and 14 respectively.
FL-21-15 was nearly a 200 m eastern step-out from FL-20-11 and again intersected a chalcopyrite mineralized altered granodiorite containing up to 0.1% Cu over 14 m.
FL-21-16 was the deepest hole of the campaign and targeted a deep IP chargeability anomaly coinciding with mineralized surface samples. Anomalous copper mineralization was encountered throughout the hole, but more importantly intersected a major lithological contact between granitic and metasedimentary rocks at depth, which will be important when mapping the units on the property.
FL-21-17 was drilled 425 m below the Centre Pond zone and intersected mainly red granite with strong potassic, hematite alteration with magnetite. The coarse, red granite contains blebby chalcopyrite and pyrite. Highlights include 0.16% Cu over 6 m.
FL-21-18 targeted an airborne VLF anomaly along strike of the discovery zone. Copper mineralization was insignificant, but the hole intersected a wet structure that could account for the anomaly.
FL-21-19 was drilled below the discovery zone at depths deeper than the first phase of drilling. Sulphide mineralization is primarily seen as blebby or disseminated pyrite in zones of strong deformation as well as chalcopyrite in zones of strong deformation, as blebs in a silica-infilled breccias or as wisps in a quartz vein. Highlights include 0.13% Cu over 23 m.
FL-21-20 was a southern step-out from hole 19 and designed to intersect high-grade copper at depth. Unfortunately, this hole encountered another wide intrusive gabbro at an unexpected depth and angle and the mineralized zone was nearly missed altogether. Mineralized intervals include 0.12% Cu over 1.4 m and 0.11% Cu over 3 m.
In addition to copper mineralization, the campaign intersected weakly anomalous uranium in FL-21-16 (21ppm U over 10 m) and FL-21-19 (23.8ppm over 9 m).
Up-to-date copper results from Far Lake drilling are as follows:
*Previously released results **No significant assays
A map showing the location of each hole is available on the Company's website (www.bentonresources.ca).
The Company would also like to announce that it has made the first anniversary payment pursuant to its option agreement with White Metal Resources Corp. ("White Metal") on the Far Lake property (see Company news release dated May 20, 2020). The Company paid White Metal $30,000 and issued 400,000 common shares of the Company.
Benton continues to be very encouraged by the progress made by Clean Air Metals Inc. ("Clean Air"), in which Benton holds 24.6 million shares. Clean Air has two drill rigs operating on the Thunder Bay North and Escape Lake Copper-Nickel-PGM projects and has released excellent drill results from its ongoing drill campaign. Benton looks forward to receiving ongoing encouraging drill results and future project advancement.
Benton also holds 3,940,000 shares of Quadro Resources Ltd, which is advancing various projects in Newfoundland and Ontario. Additionally, Benton holds 3.6 million shares of Maxtech Ventures Inc. Maxtech has an Option and Joint Venture agreement on Benton's Panama Lake gold project in the Red Lake mining region. Further, Benton holds 1.36 million shares of Metallica Metals advancing Benton's Saganaga (Starr) Gold project, and 1.0 million shares of Sokoman Minerals Corp. which continues to release excellent drill results from its Moosehead Project in Newfoundland. Benton recently entered into a strategic alliance with Sokoman Minerals for three large-scale joint venture properties including Grey River, Golden Hope and Kepenkeck in Newfoundland.
Benton also has two NW Ontario projects optioned to Rio Tinto Exploration Canada (the Bark Lake and West Baril Lake Copper-Nickel PGE projects).
Nathan Sims (P.Geo.), Senior Exploration Manager for Benton Resources Inc., the 'Qualified Person' under National Instrument 43-101, has approved the scientific and technical disclosure in this news release and prepared or supervised its preparation.
On behalf of the Board of Directors of Benton Resources Inc., "Stephen Stares" Stephen Stares, President
Benton Resources is a well-funded Canadian-based project generator with a diversified property portfolio in Gold, Silver, Nickel, Copper, and Platinum group elements. Benton holds multiple high-grade projects available for option which can be viewed on the Company's website. Most projects have an up-to-date 43-101 Report available.
Parties interested in seeking more information about properties available for option can contact Mr. Stares at the number below.
For further information, please contact:
Stephen Stares, President & CEO Phone: 807-475-7474 Email:sstares@bentonresources.ca
CHF Capital Markets Cathy Hume, CEO Phone: 416-868-1079 x251 Email:cathy@chfir.com
Website: www.bentonresources.ca Twitter: @BentonResources Facebook: @BentonResourcesBEX
THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
The information contained herein contains "forward-looking statements" within the meaning of applicable securities legislation. Forward-looking statements relate to information that is based on assumptions of management, forecasts of future results, and estimates of amounts not yet determinable. Any statements that express predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements."
Forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation: risks related to failure to obtain adequate financing on a timely basis and on acceptable terms; risks related to the outcome of legal proceedings; political and regulatory risks associated with mining and exploration; risks related to the maintenance of stock exchange listings; risks related to environmental regulation and liability; the potential for delays in exploration or development activities or the completion of feasibility studies; the uncertainty of profitability; risks and uncertainties relating to the interpretation of drill results, the geology, grade and continuity of mineral deposits; risks related to the inherent uncertainty of production and cost estimates and the potential for unexpected costs and expenses; results of prefeasibility and feasibility studies, and the possibility that future exploration, development or mining results will not be consistent with the Company's expectations; risks related to gold price and other commodity price fluctuations; and other risks and uncertainties related to the Company's prospects, properties and business detailed elsewhere in the Company's disclosure record. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Investors are cautioned against attributing undue certainty to forward-looking statements. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from the Company's expectations or projections.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/86499
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Cypress Development (TSXV:CYP, OTCQB:CYDVF) focuses on developing its 100 percent owned Clayton Valley lithium project in Nevada, USA. The company’s extensive exploration and development have led to discovering a world-class lithium-bearing claystone resource adjacent to the Albemarle (NYSE: ALB) Silver Peak mine, North America’s only lithium brine operation. The company’s discovery of the massive resource made Clayton Valley a premium American source of lithium that has the potential to impact the supply of lithium for the fast-growing energy storage battery market.
“We’re in Nevada and we’re in a country that badly needs lithium. We would be the most environmentally friendly project, and the lowest acid consumer. We’re able to eliminate sulfuric acid in our process and that would make us an extremely environmentally friendly, large, inexpensive low cost producer in the heart of the United States.” said Cypress Development CEO Dr. Bill Willoughby.
Sienna Resources Inc. (TSXV: SIE) (FSE: A1XCQ0) (OTC PINK: SNNAF) (the "Company") Sienna Resources is pleased to announce the commencement of field exploration at the Bleka Gold Project in Norway. The Bleka Vein was discovered in 1880 and mined intermittently until 1940, with historic production reported as 165 kilograms (i.e., ~ 5,300 troy ounces) of gold sourced from mineralized material with an average grade of 36 gt gold1. The historic Bleka vein is hosted in a deformed greenstone belt in southern Norway and was formed during two phases of quartz-veining events. Auriferous quartz veins characteristically contain Cu-Bi and tourmaline2. Compilation of historic reports combined with reconnaissance mapping revealed a series of under-explored vein swarms on the Bleka property. Earlier this year, a systematic sampling program to test the vein swarms was initiated to identify gold-rich vein sets. Results were encouraging with over 10% of samples showing anomalous gold results (6 of 52 rockchip samples contained more than 0.1 ppm Au)3. Historic reports show rock chip samples with similar quantities of anomalous results with some vein samples reaching up to 103 gt Au4. As a result of this field work, previously unknown quartz veins were discovered and follow-up soil sampling is currently being conducted in an attempt to identify additional buried quartz veins.
Going forward Sienna has planned more surface sampling coupled with a planned UVA supported magnetic survey which will delineating important structural features to generate high priority drill targets. Over the coming weeks the historic mine maps will be compiled to create 3D model of the known mineralization and drill planning will commence to test mineralized continuation down plunge and along strike from the existing mine workings. SIE has not performed sufficient work to verify the published data reported above, but SIE believes this information is considered reliable and relevant.
To view an enhanced version of this map, please visit: https://orders.newsfilecorp.com/files/854/67548_db8fca9c54acebad_002full.jpg
Jason Gigliotti, President of Sienna Resources stated, "We are pleased to continue on the initial success that has been achieved at the Bleka gold project. We have a methodical, tactical approach to generate the highest priority drill targets in the coming weeks and look forward to what the next phase of work on the property will uncover. Not only are we active on this exciting gold project, we are also active in Finland and Ontario on our platinum-palladium projects."
The technical contents of this release were approved by Greg Thomson, PGeo, a qualified person as defined by National Instrument 43-101.
Sienna Resources Inc. is focused on exploring for and developing high-grade deposits in politically stable, environmentally responsible and ethical mining jurisdictions. Sienna is partnered with an NYSE listed mining company on three separate projects in Scandinavia including the past-producing Bleka & Vekselmyr Orogenic Gold Projects in Southern Norway which are both greenstone-hosted gold systems, the Kuusamo platinum group elements (PGE) project in Finland directly bordering the LK Project being advanced by Palladium One Mining Inc. (PDM-TSX.v), and the Platinum-Palladium-Nickel Slättberg Project in Southern Sweden. In North America, Sienna's projects include the Marathon North Platinum-Palladium Property in Northern Ontario directly bordering Generation Mining Ltd.'s (CSE: GENM) 7.1-million-ounce palladium-equivalent Marathon Deposit. Sienna also has the Clayton Valley Deep Basin Lithium Project in Clayton Valley, Nevada, home to the only lithium brine basin in production in North America, in the direct vicinity of Albemarle Corp's (NYSE: ALB) Silver Peak deposit and Tesla Motors Inc.'s (Nasdaq: TSLA) Gigafactory. Management cautions that past results or discoveries on properties in proximity to Sienna may not necessarily be indicative to the presence of mineralization on the Company's properties.
If you would like to be added to Sienna's email list please email info@siennaresources.com for information or join our twitter account at @SiennaResources.
Contact Information Tel: 1.604.646.6900 Fax: 1.604.689.1733 www.siennaresources.com info@siennaresources.com
"Jason Gigliotti" President, Director Sienna Resources Inc.
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 press release.
1. Gamst & Thomsen (1998) Gold Exploration in The Seljord and Hjartdal area of Telemark, Southern Norway, Norwegian Geological Survey Report 4655. (https://dirmin.no/sites/default/files/bibliotek/BV4655.pdf) 2. Wilberg & Røsholt (1998) Exploration Report. Bleka Concession, Telemark South Norway, Norwegian Geologic Survey Report 4661. (https://dirmin.no/sites/default/files/bibliotek/BV4661.pdf) 3. Samples were collected in accordance with industry standards best practices. Samples are collected and sent to ALS Malå, Sweden prep lab before they are sent for analysis at ALS Ireland. Pulps are analyzed using four acid super trace analysis (ME-MS61) and cyanide leach with AAS finish (Au-AA14). Accredited control samples (blanks and standards) are inserted into the sample intervals regularly. 4. Harpøth & Gregersen (1984) Gold Exploration in the Belka Fold area, Telemark, Norwegian Geological Survey Report 1656. (https://dirmin.no/sites/default/files/bibliotek/BV1656.pdf)
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/67548
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Sienna Resources Inc. (TSXV: SIE) (FSE: A1XCQ0) (OTCBB: SNNAF) (the "Company") Sienna has closed its financing consisting of 2,222,222 flow-through shares for gross proceeds of $200,000. No warrants were issued in the financing. An aggregate finders' fee of $12,000 was paid in connection with the private placement. All the securities issued in connection with this private placement have a hold period that expires on February 17, 2021. Proceeds will be used towards the Company's planned work programs. The private placement is subject to final approval of the TSX Venture Exchange and was originally announced on October 14, 2020. Please refer to that news release.
This flow through will be allocated primarily for Sienna's Marathon North Platinum-Palladium Property in Northern Ontario directly bordering Generation Mining Ltd.'s (CSE: GENM) 7.1-million-ounce palladium-equivalent Marathon Deposit. Management cautions that past results or discoveries on properties in proximity to Sienna may not necessarily be indicative to the presence of mineralization on the Company's properties.
Jason Gigliotti states, "We are very pleased to have closed this placement, above the current market price and with no warrants attached, which will enable immediate work to begin on our Marathon North Platinum-Palladium Property in Ontario. Not only do we plan to be active on this exciting project we are also very active in Scandinavia on our platinum-palladium project in Finland and we expect to be drilling on our Norway gold project making the remainder of 2020 a very active period for Sienna. We are fully financed for all of our planned work programs in 2020 and look forward to what we uncover from having boots on the ground in at least 3 countries in the coming weeks."
The technical contents of this release were approved by Greg Thomson, PGeo, a qualified person as defined by National Instrument 43-101.
Sienna Resources Inc. is focused on exploring for and developing high-grade deposits in politically stable, environmentally responsible and ethical mining jurisdictions. Sienna is partnered with an NYSE listed mining company on three separate projects in Scandinavia including the past-producing Bleka & Vekselmyr Orogenic Gold Projects in Southern Norway which are both greenstone-hosted gold systems, the Kuusamo platinum group elements (PGE) project in Finland directly bordering the LK Project being advanced by Palladium One Mining Inc. (PDM-TSX.v), and the Platinum-Palladium-Nickel Slättberg Project in Southern Sweden. In North America, Sienna's projects include the Marathon North Platinum-Palladium Property in Northern Ontario directly bordering Generation Mining Ltd.'s (CSE: GENM) 7.1-million-ounce palladium-equivalent Marathon Deposit. Sienna also has the Clayton Valley Deep Basin Lithium Project in Clayton Valley, Nevada, home to the only lithium brine basin in production in North America, in the direct vicinity of Albemarle Corp's (NYSE: ALB) Silver Peak deposit and Tesla Motors Inc.'s (Nasdaq: TSLA) Gigafactory. Management cautions that past results or discoveries on properties in proximity to Sienna may not necessarily be indicative to the presence of mineralization on the Company's properties.
None of the securities sold in connection with the private placement will be registered under the United States Securities Act of 1933, as amended, and no such securities may be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
If you would like to be added to Sienna's email list please email info@siennaresources.com for information or join our twitter account at @SiennaResources.
Contact Information Tel: 1.604.646.6900 Fax: 1.604.689.1733 www.siennaresources.com info@siennaresources.com
"Jason Gigliotti" President, Director Sienna Resources Inc.
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 press release.
Not for distribution to U.S. Newswire Services or for dissemination in the United States.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/66387
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CB2 Insights (CSE:CBII, OTCQB:CBIIF) (“CB2” or the “Company”), a leading data-driven company focused on bringing real-world evidence driven from the point-of-care to the medical cannabis community, today announced it has partnered with Licensed Producer, Vireo Health International Inc. (“Vireo”) (CNSX:VREO, OTCQX:VREOF), to advance the proof of safety and efficacy for cannabinoid therapy as it relates to metered-dosing for patients with ailments in which cannabis-based medicine is believed to support. CB2 will oversee the protocol development and Investigational New Drug (IND) Application directly with the US Food & Drug Administration (FDA). The successful completion will position Vireo for industry leadership when it comes to cannabis-based topical medication used to treat pain. Vireo will also license the Company’s Sail technology platform for full data collection and management.
“Vireo is a cannabis company that understands the importance of full-scale research to prove out the true safety and efficacy of their products as they come to market,” said Prad Sekar, CEO, CB2 Insights. “As we have seen with the FDA over the past year, they are steadfast in ensuring that cannabis-based medicines follow the same protocols as other traditional pharmaceuticals. We are proud to have been chosen to advance that process with Vireo as we move forward with the IND application.”
Vireo is a physician-founded, science-focused vertically integrated cannabis company focused on bringing medical science and engineering effective cannabis-based medicine. Thousands of patients across seven U.S. states have used Vireo’s products for a wide range of conditions including chronic pain, cancer, epilepsy and many others as permitted under various state laws. Vireo’s line of cannabis-based topical products – currently available in Minnesota and scheduled to launch in other markets in 2020 – will be the focus of this project. CB2 Insights will manage the process of designing the protocol and working with the FDA on IND application approval.
“At Vireo, we are working to illustrate the positive impact that cannabis-based products can have for patients seeking to manage chronic or intractable pain through alternative treatment options,” said Kyle Kingsley, M.D. Chief Executive Officer, Vireo Health. “Our partnership with CB2 Insights will help us solidify the understanding and acceptance of cannabis-based medicine by following traditional healthcare protocols to achieve what many others in this space have been unable to do – produce clinical evidence of our products’ efficacy.”
CB2 Insights has active technology, data and research projects in North America, the UK and Colombia. As a cannabis-focused Contract Research Organization (CRO), the Company is able to support Licensed Producers, Multi-State Operators and other industry stakeholders from pre-clinical trial activities through to product commercialization by following traditional healthcare protocols regardless of the jurisdiction. CB2 also owns and operates the largest multi-state cannabis evaluation and education centers in the US, overseeing the care of more than 100,000 patients which expedites the development of patient registries and ultimately recruitment for clinical studies.
Both companies look to complete the initial stage of the project by Q1 2020.
CB2 Insights (CSE:CBII) is a global leader in clinical operations, technology & analytics solutions and research and development services with a mission to mainstream medical cannabis into traditional healthcare. Providing immediate market access through its wholly-owned clinical network across 12 jurisdictions, proprietary data-driven technology solutions and comprehensive contract research services designed for those in both the medical cannabis and traditional life sciences industries, CB2 Insights is able to support its partners across the entire data and research spectrum.
CB2’s Clinical Operations business unit leverages extensive experience to develop clinical models with standard operating procedures, advanced workflows, training and ongoing management support. CB2 also owns and operates its own specialty clinics including the brands Canna Care Docs and Relaxed Clarity which assess nearly 100,000 patients seeking medical cannabis treatment to provide immediate market access to US-based product manufacturers for clinical trial and research programs.
The Company has built both electronic data capture (EDC) and clinical data management software (CDMS) which work to support its partners of any size to execute their data and clinical strategies.
CB2 also offers comprehensive contract research organization (CRO) services including full scale clinical trial management, trial design, monitoring and other key research functions used by licensed producers, multi-state operators and traditional pharmaceutical companies entering the medical cannabis space.
For more information please visit www.cb2insights.com.
About Vireo Health International, Inc.
Vireo Health International, Inc.’s mission is to build the cannabis company of the future by bringing the best of medicine, engineering and science to the cannabis industry. Vireo’s physician-led team of more than 400 employees provides best-in-class cannabis products and customer experience. Vireo cultivates cannabis in environmentally friendly greenhouses, manufactures pharmaceutical-grade cannabis extracts, and sells its products at both company-owned and third-party dispensaries. The Company currently is licensed in eleven markets including Arizona, Maryland, Massachusetts, Minnesota, New Mexico, New York, Nevada, Ohio, Pennsylvania, Puerto Rico, and Rhode Island. For more information about the company, please visit www.vireohealth.com.
For CB2 Insights Dan Thompson – Chief Corporate Officer 1.855.874.4999 ext. 120 investors@cb2insights.com
For Vireo Health International Inc. Albe Zakes – VP, Communications albezakes@vireohealth.com (267) 221-4800
Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in CB2’s filings with Canadian securities regulators. When used in this news release, words such as “will, could, plan, estimate, expect, intend, may, potential, believe, should,” and similar expressions, are forward-looking statements.
Forward-looking statements may include, without limitation, statements regarding the opportunity to provide services and software to the U.S. cannabis industry.
Although CB2 has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended, including, but not limited to: dependence on obtaining regulatory approvals; investing in target companies or projects which have limited or no operating history and are subject to inconsistent legislation and regulation; change in laws; reliance on management; requirements for additional financing; competition; hindering market growth and state adoption due to inconsistent public opinion and perception of the medical-use and recreational-use marijuana industry and; regulatory or political change.
There can be no assurance that such information will prove to be accurate or that management’s expectations or estimates of future developments, circumstances or results will materialize. As a result of these risks and uncertainties, the results or events predicted in these forward-looking statements may differ materially from actual results or events.
Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this release. CB2 disclaims any intention or obligation to update or revise such information, except as required by applicable law, and CB2 does not assume any liability for disclosure relating to any other company mentioned herein.
Click here to connect with CB2 Insights (CSE:CBII) for an Investor Presentation.
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.
The Company’s assets are located near Sohar in the Sultanate of Oman.
Click here for the full ASX Release
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).
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.
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.
Click here for the full ASX Release
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.
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.
Speaking with INN at this year’s Fastmarkets Lithium Supply and Raw Materials conference, William Adams of Fastmarkets said the demand pullback is temporary.
“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.
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.
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.
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.”
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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.
Top lithium producer Albemarle (NYSE:ALB) saw its lithium sales increase 178 percent year-on-year in the second quarter on the back of firm demand and higher lithium prices.
Lithium net sales reached US$891.5 million, an increase of US$571.2 million from the previous year, as the company renegotiated contracts and as prices for the battery metal stayed at high levels.
"We delivered another strong quarter throughout the current turbulent market environment, thanks to strong demand and pricing trends, particularly for lithium and bromine,” CEO Kent Masters said. “Over the past year, we have shifted our lithium contracting strategy to realize greater benefits from these strong market dynamics."
Looking ahead, Albemarle is expecting average realized pricing to be up 225 to 250 percent year-over-year due to the renegotiated contracts and increased market pricing. The company anticipates that adjusted profits from its lithium business will jump by 500 percent.
“There is potential upside if market pricing remains near current levels, if contract renegotiations result in additional price improvements, or with additional tolled volumes,” the company said in a statement. “There is potential downside in the event of a material correction in lithium market pricing or potential volume shortfalls, such as delays in acquisitions or expansion projects.”
Albemarle owns lithium brine operations in Clayton Valley near Silver Peak in the US, as well as in the Salar de Atacama in Chile. It also owns a 49 percent stake in Talison Lithium, which runs the massive hard-rock Greenbushes mine, as well as a 60 percent stake in the Wodgina hard-rock lithium mine in Western Australia.
The North Carolina-based company’s Kemerton I conversion plant in Australia achieved first production in July, while initial production of spodumene concentrate from the first and second trains at the MARBL lithium Wodgina mine happened in May and July, respectively.
In Q2, Albemarle posted net income of US$406.8 million compared to a profit of US$424.6 million in the same quarter a year ago. Meanwhile, adjusted EBITDA reached US$610 million, an increase of 214 percent.
On Tuesday (August 2), Albemarle’s rival Livent (NYSE:LTHM) also posted its Q2 results, reporting a profit jump and raising its guidance for 2022 on support from higher lithium prices.
As of 9:00 a.m. EST on Thursday (August 4), shares of Albemarle were trading at US$248.12, up more than 3 percent from the previous day's closing price.
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Securities Disclosure: I, Priscila Barrera, currently hold no direct investment interest in any company mentioned in this article.
Click here to read the previous electric vehicle market update.
The electric vehicle (EV) revolution has been top of mind for battery metals investors for quite some time now, with demand for EVs increasing significantly in 2021.
But in 2022, China’s fresh COVID-19 lockdown measures, the Russia-Ukraine war, cost increases and other constraints hit the market, and carmakers are under pressure to keep production levels up.
Given the importance of the EV narrative for battery metals and all the commodities associated with the EV supply chain, the Investing News Network (INN) reached out to analysts and experts in the space to ask for their thoughts on what's happened so far this year and what’s on the horizon.
In 2021, sales of EVs doubled from the previous year to reach a new record of 6.6 million units, with nearly 10 percent of global car sales being electric.
Growing regions like Europe saw continued consumer interest, while in leading country China 3.3 million EVs were sold in 2021 — that's more than were sold in the entire world in 2020, as per the International Energy Agency.
But 2022 has brought EV supply chain issues, with carmakers struggling with higher costs and production goals.
Speaking about the main trends seen in H1, Felipe Munoz of JATO Dynamics said there’s been a slowdown in demand for battery electric vehicles (BEVs) in growth markets such as Europe — the second largest after China.
“We saw the biggest monthly drop in Europe in June for BEV registrations since April 2020, at about an 8 percent decrease, which is still better than the overall market,” he told INN. “But it's worrying in the case of Europe because EVs have been the drivers of growth over the last months.”
Tesla (NASDAQ:TSLA), Volkswagen (OTC Pink:VLKAF,ETR:VOW), Renault (EPA:RNO), Audi, Skoda and Ford (NYSE:F) were the most affected by the fall in demand, according to JATO.
Tesla was hurt by a production halt at its plant in China, failing to increase vehicle deliveries quarter-on-quarter for the first time in two years. Meanwhile, Volkswagen felt the pressure to stop producing a number of models due to supply issues related to the Russia-Ukraine war.
Last year, there were over 450 electric car models available globally, an increase of more than 15 percent compared to 2020 and more than twice the number of models available in 2018. In 2022, despite challenges, automakers have continued to roll out new models, expanding segment and price point availability for EVs.
“The increase in model availability was expected, will continue and is critical to increasing EV adoption,” Stephanie Brinley of IHS Markit told INN.
“In terms of sales performance, we continue to see production holding back sales,” she said. “While tightening monetary policy, inflation and recession concerns could have an impact on underlying demand in the second half of 2022, production capacity is still determining sales volumes.”
At the end of 2021, BEVs accounted for 3.5 percent of US light-vehicle registrations. From January through the end of May, this grew to 4.5 percent, according to IHS Markit data.
“The semiconductor and other shortages have meant that OEMs have not been able to build as many EVs as they had planned and have slowed some production ramp-up ability, but EV availability and inventory is higher than it was in 2021 and there are more models available,” Brinley said.
A key catalyst impacting sales was China's fresh COVID-19 containment measures early on in 2022.
“Lockdowns in China, in addition to the uncertainty regarding the economy and the war in Ukraine and its impact on supply chains, is finally affecting EVs as well,” Munoz explained to INN. “They used to be the only drivers of growth, but now we are also seeing the demand for these cars falling not because the people don't want them, but because there are no cars available.”
Supply chain shortages have become the main issue for the auto industry as a whole, affecting EV production and development, as well as traditional vehicle production.
“Vehicle production costs have increased on raw materials and commodities pricing increases,” Brinley said. “In addition, the Russian invasion of Ukraine and the COVID-19 lockdowns in China earlier in 2022 caused further supply chain and logistics issues, again affecting the industry as a whole inclusive of EV plans.”
Last year, the chip shortage seemed to be affecting only internal combustion engine vehicles, but this year the situation is evolving to impact EVs as well.
“In 2021, there were not enough chips in the industry, so the very few they had were used to produce cars that could sell easily, which are the SUVs or EVs,” Munoz commented to INN. “However, the crisis is still happening and it's already affecting EVs.”
As a result of production constraints across the light-vehicle industry, automakers have not been able to produce to available capacity or plans.
“While the situation continues to slowly improve, production will be lower than capacity or demand for the rest of 2022 and into 2023,” Brinley said.
For the expert, the mismatch between production and demand is an entry barrier in the short term, but will not be in the medium term. “It is a barrier for consumers who want traditional vehicles right now, not just EVs,” she said. “It is not slowing the underlying interest in EVs, and consumers are adapting to having to wait.”
For Munoz, if recession fears continue, and they become a reality, the discussion will not be only around production constraints, but could turn into a demand issue.
“The problem with a recession is that in addition to the production, we will have demand issues as people will stop buying or will delay their purchase,” Munoz said.
This might not be the case for every market, the expert added, as Chinese carmakers, for example, are not as exposed as the European or American markets, because they do not export as many of their vehicles.
“They depend mostly on local demand, and the Chinese market still has potential for growth,” he said. “India is another positive case — the demand there seems to react positively to the government's incentives and has a better perspective.”
Looking ahead, by the end of 2022, global plug-in sales, which include BEVs, plug-in hybrids and range-extended BEVs, are on pace to exceed 10 million vehicles. This is more than the combined totals of 2019 (at 3.1 million) and 2021 (at 3.1 million), S&P Global Commodity Insights data shows.
“China will remain the largest market by total sales, already clearing 3 million year-to-date and projected to account for 6.5 million plug in sales by the end of this year, subject to some downside risk related to periodic localized lockdowns in response to the emergence of coronavirus variants,” Mark Mozur, manager of future energy outlook at S&P Global Commodity Insights, said.
The European Union will be the only other market to exceed the 1 million vehicle threshold, and is expected to register 2 million in sales by the end of the year.
“The US will close the year at just under 0.8 million vehicles sold, a 30 percent year-on-year growth,” Mozur said. “In terms of market share, Norway will remain the global leader, on pace to have EVs capture 85 to 90 percent of total new passenger car sales.”
For the second half, Brinley said the market should continue to see improvement in inventory, though the semiconductor issue will hold the industry back versus plans and capacity into 2023.
“Some improvement in inventory will be a result of already planned production cadence, and some will be a result of the normal production ramp-up,” she said. “In addition, Tesla’s Texas and Germany factories are ramping up, which will mean Tesla availability continues to sharply increase.”
For Munoz, the key factor to keep an eye on is availability of new cars and how to keep interest in EVs going.
“Governments are still helping, there are still very good deals and very good incentives in many markets, with consumers until now reacting positively to this way of buying electric cars,” he said. “So for me, the key will be to keep this interest by bringing the cars on time, because if the cars are not there and at the same time there are fears about the economy everywhere, then we will lose the opportunity that we have had so far.”
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.
The lithium market is booming. Rechargeable lithium-ion batteries were already critical to devices such as smartphones and laptops, but as the push towards decarbonization and electric vehicles continues to gain ground, demand for the critical battery metal has gone through the roof.
The market simply cannot keep up. Estimates have historically varied as to precisely when demand will outstrip supply, but many experts believe that day will come sooner rather than later. Some have even gone so far as to suggest that, with the current strong outlook of electric vehicles, this could even happen in 2022.
The problem isn't that the supply isn't there. Rather, the issue lies primarily with current production methods. Currently, the majority of global lithium production comes from continental brine deposits, which account for roughly half of the world's known lithium reserves. Sedimentary lithium deposits are also a source, at roughly 8 percent of total reserves.
It's the third source of lithium, pegmatites, that could be the key to addressing the looming supply shortage, particularly in Canada and the United States, which both rely heavily on lithium sourced from other markets.
Although electric vehicles are creating considerable demand for lithium, it's important to note that they are far from the only use cases for the battery metal. According to a 2021 brief published by the U.S. Geological Survey, roughly 74 percent of the lithium market still consists of industrial use cases. Lithium is also used in ceramics and glass, lubricating greases, and pharmaceuticals.
With that said, it's undeniable that the push for greener energy and decarbonization is currently a core driver of increasing demand.
"We're moving towards decarbonization, moving the economies away from carbon, coal, gas, and oil," explained Killian Charles, president of Brunswick Exploration (TSXV:BRW). "A decade ago, this shift would have been unthinkable. But it's inevitable now, and lithium — along with a few other commodities such as copper — will be in very high demand as a result."
The question, then, is why haven’t mining companies effectively scaled their production to keep pace with this demand? Electrification and green energy are not new concepts, nor is the global pursuit of sustainability a recent development. What is it that's holding us back here, and what can be done to address the issue?
The answer, according to Charles, can be summed up with a few simple words — a lack of greenfield exploration.
Particularly in the context of an industry as old as mining, lithium development and production is still very much in its infancy. While many of the world's largest, most extensively developed lithium deposits have been known to us for decades, exploration for new lithium assets was sporadic, at best.
"Quite truthfully, we, as a society, haven't collectively explored enough for lithium to meet our decarbonization objectives," Charles said. "Many of the largest producers, companies with multibillion dollar market caps, are essentially working old deposits and not having the expertise to discover new ones."
What this means is that some of the richest lithium deposits in the world may be either undeveloped, undiscovered, or, more often, both.
"Brine and clay deposits will not be the solution in the long-term," Charles said. "They are large, yes, but they are also typically very low-grade, expensive and water-intensive to process. Pegmatite, on the other hand, is typically up to 10 times richer than even the richest clay or brine deposit while also being cheaper and simpler to develop."
Canada is, in many ways, a microcosm of the larger problems with global lithium production.
The country is home to some of the largest lithium deposits in North America. Much of the development over the last decade in the country's lithium sector has focused on repurposing these deposits.
All the while, lithium greenfield exploration remains largely dormant compared to gold or even base metal exploration.
There are a few exceptions to this, of course. Brunswick Exploration, for instance, has spent the past several years exploring and developing multiple diversified assets in Eastern and Maritime Canada. The most notable projects in its portfolio are the Pontiac lithium and North Shore lithium projects in Quebec, the Catamaran project in New Brunswick and the NS Critical Minerals package in Nova Scotia.
"What we've really noticed is that systemic lithium exploration is something that hasn't really happened in Canada," Charles said. "Everyone is focused on existing known assets, but very few companies are really pushing the boundaries — and that's what Brunswick Exploration has always been about."
Origen Resources (CSE:ORGN,FWB:4VX) is another major player in pegmatite exploration and development. Working together with Coast Mountain Geological, in 2021 the company claimed 29,000 hectares in Newfoundland. Leveraging its innate knowledge of pegmatite-hosted lithium deposits, it identified 10 highly promising areas in a newly identified prospective lithium belt.
It is no secret that at the current moment, North America is lagging behind in the electric vehicle race. Nor is the reason particularly mysterious. Over-reliance on imported lithium coupled with an unstable international supply chain represents not only a considerable manufacturing bottleneck, but also considerably amplifies development costs.
Battery manufacturers and electric vehicle manufacturers alike would benefit considerably from a stabler, more readily accessible domestic supply. This is precisely what the long-term development of pegmatite greenfields can provide. It's essentially a way of killing two birds with one stone: contributing to global lithium production while also supporting domestic industry growth.
There is no denying that the world sits on the cusp of a lithium shortage, but this is not an insurmountable problem. Underdeveloped and underexplored pegmatite greenfields offer not only a reasonable solution but also a compelling option for anyone looking to add more lithium projects to their investment portfolio
This INNSpired article is sponsored by Brunswick Exploration (TSXV:BRW). This INNSpired article provides information which was sourced by the Investing News Network (INN) and approved by Brunswick Explorationin order to help investors learn more about the company. Brunswick Explorationis a client of INN. The company’s campaign fees pay for INN to create and update this INNSpired article.
This INNSpired article was written according to INN editorial standards to educate investors.
INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.
The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with Brunswick Exploration and seek advice from a qualified investment advisor.
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