SAN DIEGO, California, April 7, 2016 /PRNewswire/ --
SourcingLink.net Inc. (OTC Pink: SNET) is encouraged with the recent developments that we believe will increase the value of our Lac Fire Lithium properties located east of Lac Pivert, Quebec.
Lithium is a soft, silver-white metal used in pharmaceuticals, ceramics, grease, lubricants and heat-resistant glass. It's also used in lithium-ion batteries, which power everything from cellphones to laptops to electric vehicles - demand is growing fastest in this area.
According to Frost & Sullivan, the global market for lithium-ion batteries is expected to double to $22.5 billion in 2016 from $11.7 billion in 2012. Consumer goods and automobile sectors are driving the demand. Zacks Research report further states that with the increasing use of lithium ion batteries in consumer electronic products as well as efforts to promote the use of electric cars by many governments to curb pollution, the demand for these batteries is expected to rise.
Lithium-ion batteries are used by many auto manufactures, including Tesla Motors, Inc. General Motors Co., Navistar International Corp., BMW AG, Daimler AG and Ford Motor Co. According to Zacks Research, Tesla Motors, Inc.'s decision to build a $5 billion Gigafactory to meet its requirement of lithium-ion battery packs brought glaring focus on the shortage of supply of this emerging energy storage technology (and the raw material - Lithium). Zacks further states that, however, the market for lithium-ion batteries has a lot of untapped potential.
According to a recent article published in Lithium Investing News by Teresa Matich, a note by Stomcrow Capital, there's little chance of substitution for Lithium. In short, the world is going to (continue to) need a lot of lithium. What's more, demand from other sectors (besides automotive) isn't going away.
Sourcinglink.net has recently acquired a block of 8 new claims sharing a 12 km boundary which is on three sides with the Rose Lithium Tantalum Property of Critical Elements Corp.
About The Eldor Project:
SourcingLink.net, Inc. signed an agreement to acquire 100% interest in the Eldor Rare Earth Property Claims (The Eldor Project) located in Northern Quebec, Canada (one of the most favorable mining jurisdictions in the world). The Eldor Project consists of 34 mineral claims covering approximately 3951 acres and is located in Northern Quebec which is considered one of the most favorable mining jurisdictions in the world.
About SourcingLink.net, Inc.:
SourcingLink.net is a U.S. based publicly traded exploration and development company. Their focus is on rare metals and rare earth elements which are among the primary input materials for 21st century technology.
This release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements, which contain words such as "expect," "believe" or "plan," by their nature address matters that are, to different degrees, uncertain. These uncertainties may cause actual future events to be materially different than those expressed in our forward-looking statements. We do not undertake to update our forward-looking statements.
SOURCE SourcingLink.net, Inc.