NEW YORK, December 7, 2017 /PRNewswire/ --
According to a research report by Grand View Research, Inc. the global lithium-ion battery market size was valued at USD 22.8 billion in 2016 and is expected to reach USD 93.1 billion by 2025, growing at a CAGR of 17 percent. Increased usage of lithium-ion batteries in electric vehicles, portable consumer electronics and grid storage systems due to its high energy density drives market demand. The research also indicates that the Lithium cobalt oxide (LCO) was the dominant product segment and was valued at USD 7.15 billion in 2016. Cobalt is expected to play a more prominent role in the market. The Benchmark Mineral Intelligence reports that 75% of lithium-ion battery cathode capacities are expected to contain some volume of cobalt by 2020. LiCo Energy Metals Inc (OTC: WCTXF), Advantage Lithium Corp. (OTC: AVLIF), Lithium Corporation (OTC: LTUM), Lundin Mining Corp. (OTC: LUNMF), eCobalt Solutions Inc. (OTC: ECSIF).
The primary focus of automakers has been reducing costs while increasing energy density and vehicle range. William Tokash, Senior Research Analyst with Navigant Research explained, "The push by automotive original equipment manufacturers (OEMs) and battery manufacturers to continually reduce battery pack costs continues… This effort, led by improving battery manufacturing processes and maturing supply chains, is anticipated to yield a market driven by battery electric vehicles where both large and small capacity Li-ion battery-pack-equipped vehicles have markedly improved driving ranges."
LiCo Energy Metals Inc (OTCQB: WCTXF) is also listed on the TSX Venture Exchange under the ticker 'LIC'. Just earlier today, "from November 9th, 2017 to December 4th, 2017, the Company has received $1,222,250 in proceeds from the exercise of warrants and options. This amount, in addition to the recently closed non‐brokered private placement offering of $960,000, has put an additional $2,182,250 into the Company's treasury since November 9th, 2017.
"We are very happy that our shareholders continue to support our company and its exploration programs globally," comments Mr. Tim Fernback, President & CEO of LiCo. "The funds that we have received over the past month will not only go towards additional mineral exploration in Canada, but will be used to make our final property payment in early 2018 to Glencore on the Glencore Bucke Property. Completing this transaction with Glencore, and working towards the delineation of an aggregate in-situ value of $100,000,000 or more, is part of our corporate plan to create a cobalt resource in Ontario. Hitting this in-situ value mark is an important factor in Glencore's Back-In Option with LiCo."
The Company plans to allocate a minimum of $640,000 to a future Canadian exploration program in accordance with its flow through spending requirements. Management anticipates formulating a comprehensive 2018 Canadian exploration program once the final assay results are received from the recently completed diamond drilling programs at LiCo's Glencore Bucke and Teledyne Properties at the beginning of the calendar year.
LiCo was also featured in a recent issue of Resource Global Network Magazine (Volume 4 Issue 7) which was unveiled at London's Mines and Money Conference at the end of November 2017. This article includes an interview with LiCo's management and reviews LiCo's international lithium and cobalt properties and exploration programs. It can be read here, LiCo Feature in RGN . Mr. Fernback states "Garnering interest from a quality publication like Resource Global Network is further testament that we are onto something newsworthy at LiCo. By having properties in both lithium and cobalt, we are a unique and true energy metals company, focused on more than one metal involved in the clean energy movement."
Qualified Person - The Glencore Bucke and Teledyne Properties are managed by Joerg Kleinboeck, P.Geo., (LiCo's QP), and supervised by Dwayne Melrose, Director and Head of the Technical Advisory Board of LiCo.."
Advantage Lithium Corp. (OTCQX: AVLIF) is a resource company specializing in the strategic acquisition, exploration and development of lithium properties and is headquartered in Vancouver, British Columbia. Recently, the company announced that it and its exploration partner Nevada Sunrise Gold Corporation have completed the sale of the Clayton Northeast and Triton lithium projects to Pure Energy Minerals Limited of Vancouver, B.C., Canada. Clayton NE is located adjacent to the Silver Peak lithium brine mine in Esmeralda County, Nevada.
Lithium Corporation (OTCQB: LTUM) is an exploration company based in Nevada devoted to the exploration for energy storage related resources throughout North America, looking to capitalize on opportunities within the ever expanding next generation energy storage markets. On August 10, 2017, the company announced that it has received preliminary assays from its BC Tantalum-Niobium project. Rock sampling at Yeehaw has indicated that the Coryell Syenitic intrusive host rock is considerably "charged up" with values of Niobium (as high as 111.78 ppm), Tantalum (as high as 7.8 ppm), Lithium (as high as 48.4 ppm), and Cerium (as high as 324 ppm), among other notable elements all considerably anomalous.
Lundin Mining Corp. (OTC: LUNMF) is a diversified Canadian base metals mining company with operations in Chile, the United States of America, Portugal, and Sweden, primarily producing copper, nickel and zinc. In addition, Lundin Mining holds an indirect 24 percent equity stake in the Freeport Cobalt Oy business, which includes a cobalt refinery located in Kokkola, Finland. The Freeport Cobalt refinery has been in operation since 1968 and has an experienced management team, over 400 employees and global sales and marketing footprint that services approximately 500 customers in over 50 countries in Asia, Europe and the Americas. The refinery, located on the Baltic Sea in Finland, processes unrefined cobalt and related metals and manufactures advanced inorganic products for use in a variety of applications in fast-growing end use markets. Freeport Cobalt is one of the world's largest suppliers of cobalt chemicals and powders for use in batteries, pigments and ceramics and powder metallurgy. Recently, the company announced that it has filed an updated Technical Report for the Candelaria Copper Mining Complex in Chile, and an updated Technical Report for the Zinkgruvan Mine in Sweden.
eCobalt Solutions Inc. (OTCQX: ECSIF) committed to providing ethically produced, environmentally sound, battery grade cobalt salts, essential for the rapidly growing rechargeable battery and renewable energy sectors, made safely, responsibly, and transparently in the United States. On November 15, 2017, the company updated on the Idaho Cobalt Project's marketing, construction and project optimization. The ICP, located in East Central Idaho, is the only environmentally permitted, primary cobalt project located in the United States. It is 100% owned by the Company's wholly owned subsidiary, Formation Capital Corporation, U.S. The Company SEDAR filed its recently completed Feasibility Study ("FS") Technical Report in accordance with National Instrument 43-101. The FS was prepared by Micon International ("MI") in conjunction with SNC Lavalin ("SNC") both of Toronto, Canada. The FS outlines the production and processing feasibility of the ICP as an underground mine and mill, developing the Company's Ram deposit and the Cobalt Production Facility ("CPF"), a hydrometallurgical refining operation located on a railhead in Blackfoot, Idaho.
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