NEW YORK, April 7, 2017 /PRNewswire/ --
FinancialBuzz.com News Commentary
The lithium market is in the spotlight. A report by Markets and Markets projects that the global lithium compounds market is projected to reach USD 5.87 Billion by 2020, at a CAGR of 13.22% between 2015 and 2020. Li-ion batteries is the largest application for lithium compounds, in terms of value and volume. The demand for li-ion batteries is growing in countries such as China, India, South Korea, Brazil, and Czech Republic, for new generation energy electronic devices like cameras, high performance portable computing devices, and electric vehicles. SourcingLink.net, Inc. (OTC: SNET), Galaxy Resources Ltd. (OTC: GALXF), Millennial Lithium Corp. (OTCQB: MLNLF), Advantage Lithium Corp. (OTCQX: AVLIF), Lithium X Energy Corp. (OTCQX: LIXXF)
The research indicates that the Asia-Pacific region is currently the largest market for the lithium compounds. The rising demand for new energy storage application in vehicles, grid connected energy storage, and high requirements of consumer gadgets are expected to change further the market dynamics in the region. North America is a relatively emerging market for lithium compounds, due to the increasing demand from end-user industries, and is the second-largest market for lithium compounds.
SourcingLink.net, Inc. (OTC: SNET) on April 4th announced that it, 'has begun the process of expanding its portfolio of mining claims. Multiple claims are being reviewed, which have indications of Lithium and Cobalt. It is the intention of SourcingLink.net to pursue the energy metals market. Cobalt has a direct correlation with the lithium market, which has been increasing significantly over the last few months. We will provide further information as it becomes available.'
Earlier on March 27th SourcingLink.net provided, 'details about its upcoming exploration beginning on May 15th, 2017. In reviewing options with geologist, Wayne Holmstead, a plan of action has been decided upon.'
Wayne Holmstead and his team of geologists will be conducting their exploration in the area of the previous drill holes in the Northern part of the Lac Fire claims. In addition, they will be conducting an exploration near the western part of the property, in the vicinity of a lithium trench recently discovered on the neighboring Rose Lithium-Tantalum Project, owned by Critical Elements.
Galaxy Resources Ltd. (OTC: GALXF) on March 21st announced that it has successfully completed 2016 offtake supply obligations (contracted at 15,000dmt plus/minus ten percent) for its second customer. The MV Blessing SW sailed for China on 1 March 2017, with 13,700dmt of lithium concentrate. Certified analysis completed by SGS Australia confirmed production data from Mt Cattlin, with the reported lithium concentrate grades from this shipment as follows: 5.71% Li2O, 1.53% mica, 1.79% moisture.
Millennial Lithium Corp. (OTCQB: MLNLF) has announced recently that it has made the initial payments under its option (the "Option") to acquire a 100% interest in the Pocitos West Project ("Pocitos West"), consisting of 15,857 hectares (39,183 acres) of prospective lithium brine exploitation concessions on the Pocitos Salar in Salta Province, Argentina. Pocitos West is adjacent to ground recently acquired by Pure Energy Minerals Ltd. and is strategically located in close proximately to known lithium resources including the Rincon Project located 32 kilometres (km) to the north and the Sal De Vida Project 90km to the south. The Option was first announced on February 2, 2017.
Advantage Lithium Corp. (OTCQX: AVLIF) on March 31st announced that it has agreed to assign its option over the 1,471 hectare Stella Marys Project, located in the Salinas Grandes Salar in Salta province, Argentina (the "MSR Option"), to LSC Lithium Corporation ("LSC") (TSX VENTURE:LSC). Advantage currently holds the MSR Option pursuant to an agreement with Minera Santa Rita SRL ("MSR") dated October 27, 2016 (the "MSR Option Agreement").
David Sidoo, President and CEO of Advantage Lithium, commented, "Stella Marys is a prospective project in a strategic location. This transaction allows us to monetize this asset; including a 0.5% royalty across the entire play of 79,031 hectares, as LSC develops this considerable land package. The timing of the transaction is particularly beneficial as we prepare, with our partner, Orocobre, for an aggressive drill program at our advanced Cauchari project."
Lithium X Energy Corp. (OTCQX: LIXXF) revealed earlier this February that Company has received permits for the construction of the initial ponding facility (the "Facility") to be constructed as part of the Salta Exploraciones S.A. Joint Venture. The initial ponding facility is designed for an output of approximately 2,500 tonnes per annum of lithium carbonate equivalent. The permits allow for the construction of brine collection, pumping, piping and ponding facilities consisting of 62.6 hectares of lined ponds, designed to produce a high-purity 5% lithium concentrate, at the Company's flagship Sal de los Angeles project in Argentina. The JV ponding facility will cover a maximum of 100 hectares (approximately 1%) of the 8,156 hectares that comprise the Sal de los Angeles property. Construction activities will begin immediately. The Project has not been the subject of a feasibility study and there is no guarantee the facility will successfully produce a commercial product on a profitable basis or at all.
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