The Growth of the Lithium Market Is on the Rise and So Is the Production of Electric Vehicles

NEW YORK, May 8, 2018 /PRNewswire/ --

According to data compiled by Variant Market Research, the Global Lithium-Ion Battery market is estimated to reach $56 billion by 2024, while growing at a CAGR of 10.6 percent. The batteries are able to deliver high energy as well as high power density, which makes them favorable for many rechargeable electronic consumer products. The increasing adoption of smartphones, laptops, tablets and other mobile electronics has caused the market to grow significantly. The electronics segment holds the largest portion of the market, but electric vehicles are expected to grow at the fastest rate over the next coming years. MGX Minerals Inc. (OTC: MGXMF), Orocobre Limited (OTC: OROCF), Millennial Lithium Corp. (OTC: MLNLF), Ford Motor Company (NYSE: F), General Motors Co. (NYSE: GM)

As government regulations begin to increase regarding environmental issues, electric vehicles are becoming more widely popular. Currently, EVs are still underdeveloped, which undermines its current ability to grow. Countries such as China, U.S. and many in the European Union are expected to drive the EV market. "Li-ion batteries have an unmatchable combination of high energy and power density, making it the technology of choice for portable electronics, power tools, and hybrid/full electric vehicles. If electric vehicles (EVs) replace the majority of gasoline powered transportation, Li-ion batteries will significantly reduce greenhouse gas emissions," said science researchers Naoki Nitta, Feixiang Wu, Jung Tae Lee and Gleb Yushin.

MGX Minerals Inc. (OTC: MGXMF) also listed on the Canadian Securities Exchange under the Ticker (CSE: XMG). Earlier today the company announced breaking news that, "it has acquired an additional 10,331.32 acres of Oil and Gas Leases ("Leases") located within the Company's unitized 80,380-acre Blueberry Unit ("Blueberry Unit"). The newly acquired leases are located within the proposed 3D seismic geophysical survey area, which is scheduled to commence in August and will include approximately 9,000 data points. To date the Company has conducted a paleontology survey and is nearing completion of the archeological survey.

Under terms of the Purchase and Sale Agreement (the "Agreement"), MGX has the option to earn a Net Revenue Interest ("NRI") on 9,158.4 gross/net acres within the Company's area of mutual interest. Details of the Agreement are as follows:

• Purchase Price of US$145,000. An initial installment of $50,000 has been paid with the remaining installments due on September 5, 2018 ($50,000) and March 5, 2019 ($45,000).
• Seller delivered 83.0% NRI on 8,481.53 acres, and 82.5% on remaining 677.31 acres.
• On or before December 15, 2021, MGX will drill a well on the largest of the acquired leases to a TVD of 8,000' or to a depth sufficient to test the Cane Creek Shale (Cycle 21) of the Paradox Formation. MGX has the option to extend the drilling obligation for an additional three years in exchange for payment of an additional $100,000.
• MGX also has an option to acquire an additional lease covering 1,172.48 acres if and when that lease is issued by the BLM.

The Blueberry Unit (oil, gas and lithium) and Lisbon Valley Claims (lithium) now consists of approximately 115,000 acres of oil and gas leases and 118,000 acres of largely overlying and contiguous mineral claims. Brine content within the Lisbon Valley oilfield have been historically reported as high as 730 ppm lithium (Superior Oil 88-21P). The Project is being simultaneously explored for oil, gas, lithium and other brine minerals to determine locations for deployment of the Company's lithium and mineral extraction technology.

Blueberry Unit - MGX is currently earning a 75% working interest in the Project, with the remaining interest primarily controlled by the Paradox Partner. The Paradox Partner has been engaged by MGX as subcontracted operator of the Project. The Project is host to National Instrument (N.I) 51-101 estimated prospective resources (the "Estimate") consisting of leasehold and royalty interests in San Juan County, Utah and Miguel County. Colorado. The estimate was prepared by the Ryder Scott Company, L.P. ("Ryder Scott"), an independent qualified reserves evaluator within the meaning of N.I. 51-101 -  Standards of Disclosure for Oil and Gas Activities ("NI 51-101"), with an effective date of June 30, 2017. The Estimate was prepared in accordance with N.I. 51-101 and the Canadian Oil and Gas Evaluation...

Lisbon Valley and Paradox Basin Geology - The Project is proximate to Lisbon Valley oilfield which has approximately 140 wells. According to production statistics, as reported by the Utah Department of Natural Resources, Oil, Gas and Mining Division, cumulative lifetime production within the Lisbon Valley oilfield has totaled 51.4 million barrels of oil as of June 2017 ("Oil Production by Field, Utah Department of Natural Resources, Division of Oil, Gas and Mining"; June 2017; Click Here). The Paradox Basin has been noted by the USGS as having one of the largest undeveloped oil and gas fields in the United States ("Assessment of Oil and Gas Resources in the Paradox Basin Province…"; USGS; 2011; Click Here)."

Orocobre Limited (OTC: OROCF) is a dynamic global lithium carbonate supplier and an established producer of boron. Recently, the company reported the quarterly report of operations for the period ended 31 March 2018. The company announced Record quarterly sales revenue of US$41.3 million on total sales of 3,052 tonnes of lithium carbonate. Total sales revenue for the year to date is US$105 million. The company also provided updates on lithium projects. Preparatory works have commenced at Olaroz for the 25,000 tonne per annum (tpa) Phase 2 expansion bringing Olaroz to a total production capacity of 42,500tpa. This has included the clearing of small amounts of low biodiversity vegetation by local contractors where the new ponds are located, construction of roads and drill pads and the first new bore. Negotiations have advanced with the two possible contractors on the construction of the 10,000tpa Naraha Lithium Hydroxide Plant in Japan. Discussions have progressed with Toyota Tsusho Corporation (TTC) regarding the final commercial arrangements between the JV partners. A final investment decision is still expected mid-year.

Millennial Lithium Corp. (OTCQB: MLNLF) is an emerging exploration and development company focused on world class lithium assets in Argentina. On April 18, 2018, the company reported that it has received the environmental permit to commence exploration on the properties awarded to the Company by the Salta Provincial Energy and Mining Company. The REMSA Properties form a part of the Company's Pastos Grandes project. The receipt of the environmental permit triggers a one year, US$15.54 million (CAD$19.4M) exploration and development investment requirement under the REMSA Agreement.  The Company intends to meet the requirement by completing additional geophysics, engaging in drilling and resource definition and building large scale evaporation ponds, a 3 tonne per month pilot plant and a larger camp to accommodate additional staff and contractors. The Company intends to complete a Feasibility Study of the Pastos Grandes project, with the additional studies to support it, including a production well field model and reserves estimation.

Ford Motor Company (NYSE: F) designs, manufactures, markets and services a full line of Ford cars, trucks, SUVs, electrified vehicles and Lincoln luxury vehicles, provides financial services through Ford Motor Credit Company and is pursuing leadership positions in electrification, autonomous vehicles and mobility solutions. Recently, the company announced that Ford Smart Mobility LLC and Zotye Auto today signed an MOU to establish a new 50:50 JV that will focus on providing smart, customized all-electric vehicle solutions to fleet operators and drivers in China's fast-growing ride-hailing market. Ford Smart Mobility LLC is a Ford Motor Company subsidiary formed to design, build, grow and invest in emerging mobility services. The new mobility JV will work closely with the Zotye-Ford manufacturing JV, which will build a range of stylish and affordable all-electric vehicles for consumers in China under a new indigenous brand, pending regulatory approval.

General Motors Co. (NYSE: GM), its subsidiaries and joint venture entities produce and sell vehicles under the Chevrolet, Cadillac, Baojun, Buick, GMC, Holden, Jiefang and Wuling brands. Last year, the company announced how it is executing on a major element of its vision of a world with zero crashes, zero emissions and zero congestion, recently announced by GM Chairman and CEO Mary Barra. In the next 18 months, GM will introduce two new all-electric vehicles based off learnings from the Chevrolet Bolt EV. They will be the first of at least 20 new all-electric vehicles that will launch by 2023. Given customers' various needs, getting to a zero emissions future will require more than just battery electric technology. It will require a two-pronged approach to electrification - battery electric and hydrogen fuel cell electric depending on the unique requirements.

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