Photonics_Guy
2 years ago
Some notes I've compiled about PMET
Stock symbols:
TSX.V:PMET
OTC:PMETF
Company Presentation
They have secured 100% ownership in 50km of claims in northern Quebec and have hit remarkable grades of lithium (Li) in the limited drilling they have done to date. They have drilled about 2.5km of the 50km run length of the property and have a very strong likelihood of having tapped into one of the largest Li deposits in the Americas (>100M tonnes).
It appears very likely they will have discovered more than 100M tonnes of ore just in the circled area below, which is less than 10% of the total run-length of the 50km trend, which they own 100%. And they have observed Li bearing pegmatites all along the 50km length of the property.
Quebec is the most mining friendly province in Canada and the Corvette property is only 12km away from developed roads and very adequate source of power.
There was a cool press release by PMET the morning of 4/21/22. It says that the two recent drill holes under a lake between two pegmatite outcroppings on either side of the lake contain Spodumene.
Patriot Battery Metals Completes Winter Drill Program, Extends Main Pegmatite Body to over 1.4 km in Length, and Returns Wider Intersections at Depth
An earlier PR (dtd 4/7/22) stated that the two drill holes under the lake showed that the pegmatite was continuous from the outcropping on one side of the lake to the outcropping on the other side (over the course of a 1.4km trend). Additionally, the PR stated that the pegmatite ore body only became wider at depth. Extremely promising developments.
Patriot Battery Metals Provides Further Update on 2022 Drill Campaign at the Corvette Lithium Property
From Wikipedia on Pegmatite: "... a few pegmatites have a complex composition, with numerous unusual minerals of rare elements. These complex pegmatites are mined for lithium, beryllium, boron, fluorine, tin, tantalum, niobium, rare earth elements, uranium, and other valuable commodities."
In other words, Pegmatite may contain Lithium.
From Wikipedia on Spodumene: "Spodumene is a pyroxene mineral consisting of lithium aluminum inosilicate, LiAl(SiO3)2, and is a source of lithium. It occurs as colorless to yellowish, purplish, or lilac kunzite (see below), yellowish-green or emerald-green hiddenite, prismatic crystals, often of great size."
In other words, Spodumene definitely contains Lithium.
So, the PR of 4/21 states that the pegmatite orebody between the two outcroppings definitely contain spodumene, which means that Lithium is present between the two outcroppings (across the 1.4km trend). And...the ore body is becoming wider at depth.
From a recent interview on YouTube with Blair Way, my key takeaway from interview was that Blair expects “triple digit” tonnage (i.e., >100Mt at approx 1% yield) from the first 5km of the Corvette property. What he didn’t mention is that they 100% own 50km of property and they have hit significant pegmatite outcroppings across all 50km.
Also, LAC, one of the world’s biggest Li miners, has a reserve of 60Mt at avg grade of about 1.5%. LAC’s market cap is $6B. PMET’s market cap is $75M. You do the math… I’ll give you a hint. PMET presently has 1/80th of the market capitalization as LAC, with possibly equivalent or more Li tonnage at very roughly comparable grades. Granted, LAC has a proven resource, is in production, has built a processing plant and has all necessary permits. Important distinctions.
Another interesting tidbit on PMET: Spodumene concentrate (6%) currently US$2895/t. 0.9% Li = 15% spodumene so in ground value would be about US434/t. Assuming no Li carbonate plant, a 100 million tonne resource at 0.9% Li has an in ground value of about $43 billion.
Some more interesting charts:
Timetravelerdos
2 years ago
Patriot Battery Metals Completes Inaugural Drill Program
Corvette-FCI Property, James Bay, QC
November 03, 2021 08:00 ET | Source: Patriot Battery Metals
VANCOUVER, British Columbia, Nov. 03, 2021 (GLOBE NEWSWIRE) -- Patriot Battery Metals Inc. (the “Company” or “Patriot”) (CSE: PMET) (OTCQB: RGDCF) (FSE: R9GA) is pleased to announce the completion of the final hole of its inaugural drill program at the Company’s Corvette-FCI Property (the “Property”), located in the James Bay Region of Quebec. The program targeted the CV5-6 Spodumene Pegmatites, part of a more than a 25 km CV Lithium Trend, as well as the Elsass and Lorraine prospects, which form part of the more than 10 km long Maven Copper-Gold-Silver Trend. The 15-hole, 2,047 metre drill program is the first drill testing to date along these two highly prospective trends, as well as the first drill program by the Company on the Property to date. Program highlights include:
CV5 – three (3) drill holes, totaling 609 metres, targeting lithium bearing pegmatite
CV6 – one (1) drill hole, totaling 148 metres, targeting lithium bearing pegmatite
CV12 – one (1) drill hole, totaling 114 metres, targeting lithium bearing pegmatite
Maven Copper-Gold-Silver Trend – ten (10) drill holes totaling 1,176 metres
Core sample assays for the first two drill holes are expected later this month
Blair Way, Company President and Director, comments: “This drill program has gone exceptionally well, and we are very excited about the assay results pending. The team have done a great job wrapping up before the snow flies. I look forward to the interpretation and modelling of the dataset – drill hole, surface sampling, and geophysics – that we will be completing in the coming weeks as we advance our understanding of this new and emerging lithium district we have identified.”
Final sample processing will be completed shortly with the final shipment to Activation Laboratories Ltd. in Ancaster, ON, anticipated to be completed this week. Core samples from the program have been submitted for multi-element analysis (including lithium, silver, and base metals) by four-acid digestion with ICP-OES finish (package 1F2), as well as tantalum by INAA (code 5B) on pegmatite samples, and gold by fire assay (1A2B-30) for Maven Trend and other select samples.
The Company notes that it has developed a COVID Management Plan for the program and has carried out its field activities while adhering to all federal, provincial, and regional restrictions in place due to the COVID-19 pandemic. Mineral exploration has been recognized as an essential service in Canada and the Province of Quebec.
https://www.globenewswire.com/news-release/2021/11/03/2326332/0/en/Patriot-Battery-Metals-Completes-Inaugural-Drill-Program.html
Golden Cross
5 years ago
News 92 Resources Corp. Announces Effective Date of Consolidation and Name Change
Tuesday, October 15, 2019 4:00 PM
VANCOUVER, BC / ACCESSWIRE / October 15, 2019 / 92 Resources Corp. (the "Company") (TSXV:NTY)(OTCQB:RGDCF)(FSE:R9G2) to confirm the effective date for the consolidation of one (1) post-consolidation share for every ten (10) pre-consolidation shares and concurrent name and symbol change, as announced on October 4, 2019.
Effective at the opening on Thursday, October 17, 2019, the shares of the Company will commence trading on the TSX Venture Exchange on a consolidated basis under the name "Gaia Metals Corp." and stock symbol "GMC".
Post-Consolidation Capitalization: Unlimited shares with no par value of which approximately 8,900,245 shares are issued and outstanding.
Transfer Agent: TSX Trust Company
Trading Symbol: GMC (new)
CUSIP Number: 36270E106 (new)
About 92 Resources Corp.
92 Resources Corp is a junior mineral exploration company focused on acquiring and advancing strategic and prospective properties that position it strongly for the worlds continuing shift to high tech and green technologies including base and precious metals, and lithium.
The Company's primary assets are the wholly owned Corvette Property and the FCI Property (held under Option from O3 Mining, a recent spin-out from Osisko Mining, for a 75% interest) located in the James Bay Region of Quebec. The properties are contiguous and host significant gold-copper-silver-lithium potential highlighted by the Golden Gap Prospect with grab samples of 3.1 to 108.9 g/t Au from outcrop and 10.5 g/t Au over 7 m in drill hole, the Elsass and Lorraine prospects with 8.15% Cu, 1.33 g/t Au, and 171 g/t Ag in surface sample, and the CV1 Pegmatite Prospect with 2.28% Li2O over 6 m in channel.
In addition, the Company holds the Pontax Lithium-Gold Property, QC, the Golden Silica Property, BC, and the Hidden Lake Lithium Property, NWT, where the Company maintains a 40% interest, as well as several other assets in Canada.
For further information, please contact Adrian Lamoureux, President & CEO at Tel: 778-945-2950, E-mail: adrian@92resources.com or visit www.92resources.com.
On Behalf of the Board of Directors,
"ADRIAN LAMOUREUX"
Adrian Lamoureux, President & CEO
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 news release.
Forward Looking Statements:
Statements included in this announcement, including statements concerning our plans, intentions and expectations, which are not historical in nature are intended to be, and are hereby identified as, "forward-looking statements". Forward-looking statements may be identified by words including "anticipates", "believes", "intends", "estimates", "expects" and similar expressions. The Company cautions readers that forward-looking statements, including without limitation those relating to the Company's future operations and business prospects, are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements.
SOURCE: 92 Resources Corp.
NetworkNewsWire
6 years ago
RGDCF Mining Global Taste for Tech-Friendly Lithium
- Mineral known as ‘the new gasoline’ attractive to auto industry
- 92 Resources developing sites in Canada’s northwest, Quebec
The increasing drive among the world’s industrialized nations to find more environmentally friendly fuel sources is a boon to junior mining companies such as 92 Resources Corp. (TSX.V: NTY) (OTCQB: RGDCF) (FSE: R9G2) (http://nnw.fm/Y5F7k), which are poised to help supply the global need for tech-friendly lithium.
Lithium has become an in-demand resource for the auto industry as manufacturers try to anticipate the consequences of recent political decisions favoring electric vehicles over their dominant gas-powered cousins (http://nnw.fm/7UrPz). In July, France and Britain joined the number of nations who have declared their intentions of prohibiting the sale of vehicles driven by fossil fuels, working against an established deadline to promote alternative means of transportation.
Electric vehicles powered by lithium and cobalt batteries have proven particularly attractive to markets within metropolitan areas, where gasoline’s advantages involving longer travel distances and established refueling networks are less critical. And automakers have taken notice, with many of them now committed to release a lineup of all-electric vehicles or hybrids with electrical plug-in capabilities during the coming years.
Lithium has also applications in technology that has become ubiquitous within the world’s societies during the past two decades, particularly mobile phones, tablets and laptops.
Independent energy producers have also begun to integrate industrial-sized battery systems into the power infrastructure.
Goldman Sachs referred to lithium as “the new gasoline,” but currently the surging demand is being met with an inadequate market supply, creating a lag-time in development and a rising trend in prices. During 2015, China’s import costs for 99 percent pure lithium carbonate doubled.
International mining and minerals researcher Roskill has estimated that in just over eight years, a potential shortfall of 26,000 metric tons could occur as industries call for more than 785,000 metric tons per year of lithium carbonate (http://nnw.fm/7QsDl).
92 Resources aims to capitalize on governments’ and industry leaders’ taste for lithium. The company has hard rock lithium extraction projects in Canada’s Northwest Territories as well as in Quebec.
A government grant enabled the company to begin work during the summer on the Northwest Territories Hidden Lake site, where scoping test work accomplished an overall extraction of 97 percent in lithium-bearing pegmatites (http://nnw.fm/VDxk2).
“The Project has now been significantly de-risked through the high quality, low-iron spodumene confirmed to be present at Hidden Lake, as well as the high lithium extractions that may be expected using standard methods,” 92 Resources president and CEO Adrian Lamoureux stated in a related press release. The Quebec exploration includes 115 mineral claims of more than 114,000 acres with known large-crystal pegmatites outcroppings.
“As we continue to aggressively advance our flagship Hidden Lake Lithium Project, we feel it is critical to maintain a pipeline of additional high-quality, early-staged, lithium pegmatite projects, each with potential as stand-alone opportunities,” Lamoureux stated.
For more information, visit the company’s website at www.92Resources.com
NetworkNewsWire
6 years ago
RGDCF Readies Lithium Assets as Electric Vehicles Return
- Government policy driving electric vehicle adoption
- A 100% increase in lithium price estimated to raise battery cost less than 1%
- Electric vehicle unit costs continue to fall as output rises
No one can be faulted for thinking that electric vehicles (EVs) will be a feature of the future. However, they were also a detail of the past. In the 1890s and early 1900s, EVs cruised the streets of America, particularly in the Northeast but also in Chicago. At the turn of the twentieth century, electric vehicles outnumbered their gasoline alternatives two to one in the major metropolitan areas of New York, Boston and Chicago. Powered by lead acid batteries, they increasingly lost market share to cars with internal combustion engines, which had longer ranges. Now, their time seems to have come again, and Americans are rediscovering EVs. As major automakers accelerate the launch of new EV models, they will be casting an eye at exploration companies like 92 Resources Corp. (TSX.V: NTY) (OTCQB: RGDCF) (FSE: R9G2), since this modern energy solutions company is mining the precious lithium that powers the batteries under the hood.
The latest report card for EVs shows how quickly American drivers are adopting plug-ins. For October 2017, EV sales were up 50% (to 16,000), as compared with October 2016 sales of about 11,000. September 2017 sales figures set a record, as 21,325 vehicles were sold, up 24% from the 17,225 moved the previous year. All the auto-making heavyweights, led by Tesla, have thrown their hats in the ring. Now, the increase in production is beginning to affect battery costs as economies of scale kick in. Lithium-ion battery costs fell by over 50% from $599/kWh in 2013 to $273/kWh in 2016 as battery producers raised output, according to Bloomberg Technology (http://nnw.fm/8eX75). The trend is likely to continue as demand for EVs continues to rise. Cost reductions from economies of scale are likely to trump any increase in the cost of lithium. Bloomberg estimates that a 300% increase in lithium prices would increase battery costs by only about 2%. Output increases are moving unit costs down at a much higher rate.
While lower costs are certainly a powerful driver of the EV bandwagon, government policy is also playing an important part. A number of OECD countries have laid out zero-emission mandates that will take effect over the next two decades. Norway wants its new passenger cars and vans to have zero emissions by 2025. In addition, India will ban the sale of new gasoline and diesel cars by 2030, while France and the U.K. plan similar bans by 2040. Meanwhile, China is targeting 2030 as its deadline, with only fully electric cars will being sold in the country following that year.
RGDCF is gearing up to meet the looming demand. The company now has five lithium properties, and two of those have shown a great deal of promise. The first, at Hidden Lake, is located approximately 40 km northeast of the city of Yellowknife, NT, and consists of two mineral claims totaling approximately 1,100 hectares. It is highly prospective for spodumene-bearing lithium pegmatites, with samples indicating between 1.37% and 3.01% Li2O. The very high grades of lithium have been attributed to observed concentrations of coarse-grained spodumene and crystals of up to 36 inches in length were also noted, with visual estimates across the dyke(s) in some places of 20 to 35%. The second, at Pontax River, consists of 104 mineral claims covering four blocks totaling approximately 5,536 hectares (13,681 acres) near Eastmain, Quebec, an area that has shown high levels of spodumene-bearing pegmatite.
The company also recently acquired three new properties. Each is an early-staged lithium pegmatite project with the potential to be a stand-alone property. The new deposits are sited at Corvette, Eastmain, and Lac du Beryl, and they consist of 115 mineral claims on a combined 14,710 acres, all rich in pegmatite. Pegmatite is a type of crystal-heavy igneous rock and is a good source of ‘hard rock’ lithium, which represents about one-third of all global reserves.
For more information, visit the company’s website at www.92Resources.com
NetworkNewsWire
7 years ago
Your Electric Vehicle Could Soon Be Powered by Lithium from RGDCF Properties
Consumers are getting increasingly comfortable with the idea of electric vehicles (EVs), which, it has been predicted, could reach 200,000 units sold to Americans this year. Increasing EV sales has also meant increased demand for automotive batteries and the lithium powering them—making the lithium properties held by 92 Resources Corp. (TSX.V: NTY) (OTCQB: RGDCF) (FSE: R9G2) increasingly important. An article discussing this reads: “As stock prices of the senior mining companies fully encapsulate the promising outlook for lithium, it is only a matter of time before the attention turns to junior exploration companies like 92 Resources. The company presently holds two lithium rich properties, at Hidden Lake and at their Corvette Property in Quebec. The Corvette Property is geologically situated within the Guyer Greenstone Belt and consists of 76 claims, totaling 3,891 hectares. The Corvette project has returned high-grade samples of 3.48% and 7.32% Li20 from spodumene bearing pegmatite exposed at surface. The Hidden Lake Lithium Property, located approximately 40 km northeast of the city of Yellowknife, NT, consists of two mineral claims, totaling approximately 1,100 hectares. It is highly prospective for spodumene-bearing lithium pegmatites, with samples indicating between 1.37% and 3.01% Li2O. The very high grades of lithium have been attributed to observed concentrations of coarse-grained spodumene and crystals of up to 36 inches long were also noted, with visual estimates across the dyke(s) in some places of 20 to 35%.”
To view the full article, visit http://nnw.fm/8oLKz
About 92 Resources Corp.
92 Resources Corp is a modern energy solution company, focused on acquiring and advancing strategic and prospective modern energy related projects. The company currently holds three principal assets in Canada: the Hidden Lake Lithium Property, NWT, the Pontax Lithium Property, QC, and the Golden Frac Sand Property, BC. For more information, visit www.92resources.com.
NetworkNewsWire
7 years ago
RGDCF is Poised to Deliver Lithium as EV Manufacturers Seek to Secure Supplies
- Electric vehicle production is driving demand for lithium
- RGDCF controls five lithium properties
- Smart phones and other mobile devices also require lithium
With concern about dwindling supplies of lithium carbonate growing, prices for the compound used in the cathodes of batteries have more than doubled since 2015. Prices are expected to hit US$12,000 per tonne, according to the Driving Disruption report issued by investment bank UBS, and while there are adequate reserves of the metal, bringing it to market quickly enough may pose a challenge. This prognosis has manufacturers of electric vehicles scrambling to secure supplies. It is very likely some will go knocking on the doors of junior exploration companies like 92 Resources Corp. (TSX.V: NTY) (OTCQB: RGDCF) (FSE: R9G2). Among its three principal assets, 92 Resources has five that revolve around lithium. As a result, the company is poised to deliver supplies of lithium to EV manufacturers seeking to secure their supply chains.
Earlier this year, Volkswagen said that securing supplies of cobalt and lithium were two of its ‘greatest concerns’. And ‘BYD, the Chinese electric car and bus company part-owned by Warren Buffett, said it was talking to lithium producers in Chile about potential deals to secure lithium supply’. The race has been driven by rising estimates of EV production. In May 2017, UBS became the latest major analyst to up its forecast for EV penetration. The bank now estimates EVs will hit 14 percent penetration globally by 2025. This will require the lithium market to ‘to grow from its annual production of 182,000 tonnes to an average of 3.1m tonnes for 20 years to electrify the world’s fleet of vehicles’, according to the FT report.
RGDCF’s two major lithium assets are at Hidden Lake, approximately 40 km northeast of the city of Yellowknife, the capital of Canada’s Northwest Territories, and at their Corvette property, located 12 km south of the Trans-Taiga all-weather gravel road in the province of Quebec. The Hidden Lake Lithium Property consists of two mineral claims, totaling approximately 1,100 hectares. It is highly prospective for spodumene-bearing lithium pegmatites, with samples indicating between 1.37% and 3.01% Lithium superoxide (LiO2). The very high grades of lithium have been attributed to concentrations of coarse-grained spodumene and crystals of up to 36 inches long, with visual estimates across the dyke(s) ranging from 20% to 35%. The Corvette property consists of 76 claims totaling 3,891 hectares, and recently returned samples of 3.48% and 7.32% LiO2 from spodumene bearing pegmatite exposed at surface.
RGDCF recently acquired three new properties, including Corvette, and also located at Eastmain and Lac du Beryl, together consisting of 115 mineral claims on 14,710 acres, all rich in pegmatite. Pegmatite is a type of crystal-heavy igneous rock, and is a good source of ‘hard rock’ lithium, which represents about one-third of all global reserves.
With the lineup of EV manufacturers now a veritable alphabetic list of automakers, the fretting about demand has subsided. For the near future, the concern is supply: getting the metal out of the ground fast enough to satisfy demand from EV and mobile device makers. It won’t be surprising to see RGDCF’s valuation climb as lithium suitors court this modern energy solutions company.
For more information, please visit www.92Resources.com.
NetworkNewsWire
7 years ago
RGDCF Properties May Soon Power Your Electric Vehicle
- Demand for Electric Vehicles is Growing
- Lithium Producer Valuations are on the Rise
- Junior Valuations Likely to Follow
The die is cast. There is no turning back the legion of electric vehicles (EVs) now making inroads in our cities. Americans are warming up to the idea of driving EVs. As a result, EV sales, running at a rate well above 40 percent compared to 2016, could reach 200,000 in 2017. Tesla, of course, is in the vanguard of this EV invasion, followed closely by General Motors (GM) and Toyota; but practically every other auto manufacturer, including BMW, Fiat, Ford, Honda, Hyundai, Mercedes, Nissan, Porsche, Volkswagen and Volvo, has gotten on board the EV wagon. This upsurge in EV sales is driving demand for automotive batteries and the lithium that powers them, which makes the lithium properties held by 92 Resources Corp. (TSX.V: NTY) (OTCQB: RGDCF) (FSE: R9G2) increasingly precious resources.
A recent article on NetworkNewsWire highlights how Lithium is Fuelling the New Millennium (http://nnw.fm/Qgqx5). Apart from its use in automobiles, lithium is an essential component of the batteries that power the 8 million smart phones and other mobile devices now in use around the globe. Consequently, while the hunger for lithium will fluctuate in the short term; in the longer term, it is only likely to increase, as market signals indicate. Valuations of the leading lithium producers have been rising steadily. FMC Corp (NYSE: FMC) has appreciated by 87% over the past year; Sociedad Quimica y Minera de Chile (NYSE: SQM) has shot up by over 109% and Albemarle Corporation (NYSE: ALB) has climbed some 62%.
As stock prices of the senior mining companies fully encapsulate the promising outlook for lithium, it is only a matter of time before the attention turns to junior exploration companies like 92 Resources. The company presently holds two lithium rich properties, at Hidden Lake and at their Corvette Property in Quebec. The Corvette Property is geologically situated within the Guyer Greenstone Belt and consists of 76 claims, totaling 3,891 hectares. The Corvette project has returned high-grade samples of 3.48% and 7.32% Li20 from spodumene bearing pegmatite exposed at surface. The Hidden Lake Lithium Property, located approximately 40 km northeast of the city of Yellowknife, NT, consists of two mineral claims, totaling approximately 1,100 hectares. It is highly prospective for spodumene-bearing lithium pegmatites, with samples indicating between 1.37% and 3.01% Li2O. The very high grades of lithium have been attributed to observed concentrations of coarse-grained spodumene and crystals of up to 36 inches long were also noted, with visual estimates across the dyke(s) in some places of 20 to 35%.
However, there’s more to 92 Resources than Hidden Lake and Corvette. The company recently acquired three new properties, believing it’s critical to maintain a pipeline of additional high quality, early staged lithium pegmatite projects, each with the potential as stand-alone properties. The new deposits are sited at Corvette, Eastmain, and Lac du Beryl, and consist of 115 mineral claims on a combined 14,710 acres, all rich in pegmatite. Pegmatite is a type of crystal-heavy igneous rock, and is a good source of ‘hard rock’ lithium, which represents about one-third of all global reserves.
For more information, please visit www.92Resources.com.
NetworkNewsWire
7 years ago
RGDCF Acquires Three Prospective Lithium Properties in Quebec
- 92 Resources is an emerging junior exploration company
- Worldwide market for lithium is projected to grow 8.9% annually through 2019 to reach $1.7 billion
- Lithium-ion rechargeable batteries are used in the manufacture of electric vehicles, phones, laptops and digital cameras
92 Resources Corp. (TSX.V: NTY) (OTCQB: RGDCF) (FSE: R9G2) recently announced that it has acquired three new properties in Quebec, Canada, which are highly prospective in hard-rock lithium (http://nnw.fm/uH2Oc). The sites are Corvette, Eastmain, and Lac du Beryl, and consist of 115 mineral claims on a combined 14,710 acres.
92 Resources is an emerging junior exploration company focused on acquiring and advancing strategic and prospective assets. It acquired 100% interest in the Hidden Lake Lithium Property and has achieved 97% lithium extraction from its pegmatites. Lithium is used for the manufacture of rechargeable lithium-ion batteries in phones, laptops, digital cameras and electric vehicles. Aluminum-lithium alloys are used in the manufacture of aircraft, bicycle frames and high speed trains. The global market for lithium is projected to grow 8.9% annually through 2019 to reach $1.7 billion, according to The Freedonia Group (http://nnw.fm/Dh9Ms).
In a news release, Adrian Lamoureux, president and CEO of 92 Resources, said, “As we continue to aggressively advance our flagship Hidden Lake Lithium Project in NWT, we feel it is critical to maintain a pipeline of additional high-quality, early staged lithium pegmatite projects, each with potential as stand-alone properties. We are very excited by these new additions to the Company’s already high quality portfolio of assets”
In its corporate presentation (http://nnw.fm/6Bt69), 92 Resources explained that pegmatite is a type of crystal-heavy igneous rock and that hard rock lithium represents about one-third of all global reserves.
Brief due diligence site visits were made prior to the acquisition and pegmatite outcrop was confirmed at each property.
At the Corvette Project, 76 claims have been made. At the site visit, abundant coarse-grained spodumene crystals were identified. On the Eastman Project, 21 claims have been made, and it is highlighted by a large pegmatite outcrop. A total of 18 claims have been made at the Lac du Beryl Project, where several prominent outcrops of pegmatite have been seen.
For more information, visit the company’s website at www.92Resources.com
NetworkNewsWire
7 years ago
Lithium, Fuelling the New Millennium
NetworkNewsWire Editorial Coverage: Lithium stocks are on fire. Ignited by demand for lithium-ion batteries for mobile phones, laptops and electric vehicles, lithium stocks have soared since the beginning of last year. Surging demand and inadequate market supply are driving up price and intensifying the search for more lithium by major producers and junior miners like 92 Resources Corp. (TSX.V: NTY) (FSE: R9G2) (OTCQB: RGDCF) (92 Resources Profile). This growth is further evidenced by how the three largest lithium producers have performed since January 2016: FMC Corp. (FMC) is up over 160%; Albemarle Corp. (ALB) is up over 180%; and Sociedad Quimica y Minera de Chile (SQM) surged a scorching 260%-plus. Despite these gains, the market for lithium batteries still has untapped upside potential, but the decision by Tesla, Inc. (TSLA) to build a $5 billion Li-ion Gigafactory to meet its requirement of lithium-ion battery packs sharpens the focus on the shortage of lithium and the tight supply of Li-ion energy storage technology.
There’s a worldwide scramble to find more lithium. Sales of lithium salts are estimated at $1 billion annually, but with burgeoning global demand, both sales and price could spike even more dramatically. In fact, in 2015, the price for 99% pure lithium carbonate imported to China spiked to more than $13,000 per ton, more than double the prior year’s price.
92 Resources Corp. (TSX.V: NTY) (FSE: R9G2) (OTCQB: RGDCF) is focused on capitalizing on the global lithium shortage. The junior mining company is positioning to be at the vanguard of the renewable energy market and holds several lithium mining properties that are showing positive results from all initial indicators. The company began work at its Hidden Lake Lithium Project site this summer with a grant awarded under the Northwest Territories Mining Incentive Program. A maiden drill program for the project, now underway, has shown exceptional results. The project was undertaken to determine if industry standard lithium extraction techniques applied to typical spodumene (lithium aluminum silicate) concentrates could also be applied to concentrates produced from the pegmatites at Hidden Lake. The company reported that scoping test work was highly successful with an overall extraction of 97% achieved (http://nnw.fm/Cuqn9).
“The Project has now been significantly de-risked through the high quality, low-iron spodumene confirmed to be present at Hidden Lake, as well as the high lithium extractions that may be expected using standard methods,” 92 Resources president and CEO Adrian Lamoureux stated in the press release.
Hard rock lithium, the same type derived from the spodumene-bearing lithium pegmatites at Hidden Lake, accounts for about one-third of global reserves.
92 Resources also recently acquired three more highly prospective hard-rock lithium properties located in the James Bay region of Quebec, Canada (http://nnw.fm/c98zB). The Corvette, Eastmain, and Lac du Beryl properties consist of a combined 115 mineral claims totalling over 14,000 acres, complementing the company’s existing portfolio of assets. Each project was the subject of due-diligence site visits prior to acquisition, which included the examination and sampling of known pegmatite occurrences. Pegmatites are also known as extreme igneous rocks because they contain exceptionally large crystals and minerals, such as lithium, that are rarely found in other types of rocks. A small area of each property was evaluated during the site visits, and, most importantly, pegmatite outcroppings were confirmed present on each property.
Furthermore, a significant spodumene (lithium aluminum silicate) bearing pegmatite was discovered and sampled at Corvette, with spodumene crystals up to one meter in length, within an outcrop measuring approximately 150 meters by 30 meters.
“As we continue to aggressively advance our flagship Hidden Lake Lithium Project, we feel it is critical to maintain a pipeline of additional high-quality, early-staged, lithium pegmatite projects, each with potential as stand-alone opportunities. We are very excited by these new additions to the company’s already high-quality portfolio of assets,” Lamoureux stated in a press release.
92 Resources is clearly fast on the trail of the next great lithium deposits and expects to announce more developments in the near future.
Lithium has a myriad of essential uses and is crucial in rechargeable batteries for mobile phones, laptops, digital cameras and electric vehicles. The increasing demand for rechargeable devices and electric vehicles has created a dependence on lithium sparking a global search for new lithium fields. The success of Tesla Inc. (TSLA), a first mover in electric vehicles, is a harbinger of the entire automotive industry. At full-capacity, Tesla’s new Li-ion Gigafactory is expected to have an annual output of 35 gigawatt-hours, equivalent to the entire world’s battery production capacity. The demand for Li-ion batteries will explode as the grid begins to modernize to handle a massive influx of mainstream electric vehicles. The lithium dependent electric-vehicle (EV) market could reach 30 percent market penetration in the next dozen years, according to the International Energy Agency. Morgan Stanley analysts forecast the production and use of electric cars to rise to 81% of new auto sales by 2050.
At its current pace, demand for lithium is growing at 10 percent annually. However, it’s easily conceivable that demand could soar even more as new technological uses come into play. In 2015, Goldman Sachs stated that “lithium is the new gasoline.” It’s increasingly obvious that we’re in the midst of an energy transformation where lithium battery technologies will have the potential to dramatically impact nearly every aspect of life. Immense opportunities are already unfolding with the adaption of electric vehicles and stationary energy storage systems. To profit from this new energy transformation, investors should have direct or indirect exposure to lithium and/or lithium batteries.
The largest lithium producer in the world, Albemarle Corp. (ALB), has long been a global leader in the specialty chemical business. Albemarle’s lithium business segment mines lithium and converts it into different forms along the value chain, like lithium carbonate and lithium hydroxide, or value-added specialties like butyl lithium and lithium aluminum hydride. With its acquisition of Rockwood Holdings in 2015, the company now controls one of the only operating lithium brines in North America and operates another lithium brine located in Chile. Albemarle also holds a 49% share in the spodumene mine of Talison Lithium in Australia and is expanding production in 2019 under a joint venture. Albemarle has locked up long-term supply agreements with their customers, but this advantage will erode over time as customers on expiring contracts leave to buy from the lowest cost producers. Given that the stock is trading at an elevated multiple due to its lithium growth profile, any shock to growth expectations will lead to a rapid repricing.
Headquartered in Chile, Sociedad Quimica y Minera S.A. (SQM) is among the largest producers of lithium in the world, producing over 45,000 tons of lithium carbonate equivalent per year. SQM says it plans to expand its lithium carbonate capacity in Chile to 63,000 metric tons by 2018. In addition to lithium, the company produces specialty plant nutrients, iodine derivatives, potassium chloride, potassium sulfate and industrial chemicals. With the sky-rocketing demand for lithium batteries in 2017, shares of SQM surged from 2014 trading lows to knock on all-time highs and are now above $58 a share. The company inconsistently pays a moderate dividend yielding around 3% and carries a hefty PE ratio over 45.
FMC Corp. (FMC) through its lithium division, owns and operates a 17,000+ tons per year lithium brine facility in Argentina, where political upheaval has sparked discord, riots and rampant inflation. FMC is a large and diversified multinational chemical company servicing global agricultural, consumer and industrial markets, and lithium represents only a small portion of company revenues. The company operates in three business segments: FMC Agricultural Solutions, FMC Health and Nutrition and FMC Lithium. Over $90, the company’s shares are trading at an all-time high with a PE ratio over 58. The company does pay a quarterly dividend of 17 cents per share, which yields less than three-quarters of one percent on an annual basis. As with most established lithium producers, shares of FMC have trended much higher since 2016. Looking to boost lithium revenues, FMC says it plans to increase lithium hydroxide capacity to 30,000 metric tons per year by the end of 2019 after increasing to 18,000 metric tons this year.
None of these chemical conglomerates are pure play lithium-focused companies, which does offer investors some reduced investment risk since overall company performance is tied to other chemicals and metals. However, each of these lithium behemoths are trading at or near all-time highs and don’t provide the direct exposure or maximum upside to the lithium market that a junior mining company could offer.
Leaders in international metals and minerals research, industry consultants at Roskill have estimated that in just eight years over 785,000 metric tons per year of lithium carbonate equivalent will be needed to meet global demand (http://nnw.fm/riS7f). That equates to a 26,000-metric-ton shortfall from expected supply in 2025. Compared to 217,000 tons of demand and 227,000 tons of supply this year, many other analysts expect even greater demand, even larger lithium deficits and further price increases for this new millennium fuel. Given driving demand, supply deficits, technological advancements and expansive need, investors in lithium could be more than amply rewarded.
For more information on 92 Resources Corp. visit 92 Resources Corp. (TSX.V: NTY) (FSE: R9G2) (OTCQB: RGDCF)
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NetworkNewsWire
7 years ago
RGDCF is “One to Watch”
- Global demand for lithium, which is used in clean technology, is growing at 10%-plus per year
- Annual global sales of lithium-ion batteries estimated to reach $93 billion by 2025
- Exploration of Hidden Lake Project suggests discovery of massive, world-class lithium deposits
- Three new properties in Canada add significant lithium-bearing assets to portfolio
92 Resources Corp. (TSX.V: NTY) (OTCQB: RGDCF) (FSE: R9G2) is a modern energy solutions company focused on acquiring and advancing strategic and prospective energy-related projects in Canada. Its three principal assets include the Hidden Lake Lithium Property in the Northwest Territories, the Pontax Lithium Property in Quebec, and the Golden Frac Sand Property in British Columbia.
Preliminary mineralogy work on samples taken of the Hidden Lake pegmatites indicate spodumene – the world’s richest source of lithium – is of a high quality and near the maximum theoretical limit. Scoping testwork saw an overall lithium extraction of 97 percent from the concentrate produced from these pegmatites, which means standard lithium extraction techniques can be applied, making the extraction of lithium easier and more cost effective.
92 Resources is focused on developing the lithium-rich resources located within its properties through open-pit mining and relatively straight-forward mineral processing procedures. Surface exploration programs that include prospecting, mapping and sampling of known spodumene-bearing pegmatites on the Hidden Lake property suggests the existence of one massive, interconnected body of pegmatite below the surface. Recent acquisitions of prospective hard-rock lithium properties in Quebec add to the company’s impressive and growing asset portfolio.
Recent acquisitions of prospective hard-rock lithium properties in Quebec add to the company’s impressive and growing asset portfolio. The properties, known as Corvette, Eastmain and Lac Du Beryl, consist of a combined 115 mineral claims totaling approximately 14,710 acres with confirmed pegmatite outcrops visible at each location. Some sampling has been completed at the Corvette property and shows spodumene crystals present, making this location a high priority for follow up work. Analytical results are pending on samples taken from known pegmatite outcrops visible at each property.
Lithium is a strategic, green metal used in batteries, electronics, electric vehicles, ceramics, alloys, lubricants and pharmaceuticals. The world market for electric vehicles, with China as its biggest customer, is exponentially growing as the demand for clean, renewable energy sources increases. A recent report by Grand View Research, Inc. places the lithium-ion battery market worldwide at $93 billion by 2025, with a compound annual growth rate of 17%.
92 Resources is led by an experienced management team and advisors with decades of expertise in market strategies, corporate development, mineral exploration and energy development. With an excellent team of professionals and promising mining projects, the company is well positioned to capitalize on the ever-rising demand for lithium.
For more information, visit the company’s website at www.92Resources.com
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