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Read MoreDurango Offered Additional Land Packages In Windfall Lake Area $DGO.ca
Properties have been offered to the Company in the Windfall Lake gold camp area for purchase Management and consultants are looking at the land packages offered and reviewing the available technical data Vancouver, BC / March 24, 2017 – Durango Resources Inc. (TSX.V-DGO) (OTC-ATOXF), (the “Company” or “Durango”) announces that additional properties have been offered to the...
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Chile’s SQM sees 8-10% growth in lithium demand this year $NAM.ca $DGO.ca $BFF.ca $SX.ca $FMR.ca
“The prices in the lithium market and the growth in demand have been quite relevant in recent years. We expect growth in demand for this product of between 8 and 10 percent,” Illanes said. Feb 19 Chile’s SQM expects demand for lithium to grow between 8 percent and 10 percent this year and is working to improve financial performance by 2020, an executive told local paper El Mercurio on...
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Read MoreDurango Announces Acquisition of Bentonite, Perlite and Zeolite Projects in BC $DGO.ca
Acquired a 100% interest in British Columbia industrial mineral claims covering five projects which include bentonite, perlite, and zeolite BC MINFILE occurrences Vancouver, BC / February 16, 2017 – Durango Resources Inc. (TSX.V-DGO), (the “Company” or “Durango”) is pleased to announce that it has acquired a 100% interest in British Columbia industrial mineral claims covering...
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Pacific North West Capital Applies for Share Consolidation and Name Change to New Age Metals Inc. $PFN.ca
Made application to the TSX Venture Exchange to implement a name change and share consolidation to better reflect the Company’s business plan and its two mineral divisions Vancouver, British Columbia / January 25, 2017 –Pacific North West Capital Corp. (“PFN”)(TSXV: PFN OTCQB: PAWEF FSE: P7J)announces it has made application to the TSX Venture Exchange (the “Exchange”)...
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Fairmont Resources Closes Final Tranche of Financing $FMR.ca
Closed the final tranche of its previously announced private placement financing by issuing 2,142,857 units at a priceof $0.07 per NFT Unit for gross proceeds of $150,000 Fairmont issued a total of 1,425,000 flow-through units VANCOUVER, BRITISH COLUMBIA–(Jan. 23, 2017) – Fairmont Resources Inc. (“Fairmont”) (TSX VENTURE:FMR) is pleased to announce that is has closed the final...
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Read MoreDurango to Drill Test NMX East Lithium Project $DGO.ca
Planning is underway to drill test its lithium bearing pegmatite zone discovered in the summer 2016 exploration program on ground adjacent to Nemaska Lithium’s (T-NMX) Whabouchi Deposit and the newly discovered Doris zone Vancouver, BC / January 18, 2017 – Durango Resources Inc. (TSX.V-DGO), (the “Company” or “Durango”) announces that planning is underway to drill test...
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Durango to Drill Test NMX East Lithium Project $DGO.ca
- Planning is underway to drill test its lithium bearing pegmatite zone discovered in the summer 2016 exploration program on ground adjacent to Nemaska Lithium’s (T-NMX) Whabouchi Deposit and the newly discovered Doris zone
Vancouver, BC / January 18, 2017 – Durango Resources Inc. (TSX.V-DGO), (the “Company” or “Durango”) announces that planning is underway to drill test its lithium bearing pegmatite zone discovered in the summer 2016 exploration program on ground adjacent to Nemaska Lithium’s (T-NMX) Whabouchi Deposit and the newly discovered Doris zone.
On January 17th, 2017 Nemaska Lithium announced “With the Doris zone discovery in late fall it is prudent to consider the possible impact of its eastward continuance…” In the news release of November 28th, 2016, Nemaska Lithium stated, “the Doris zone, contains 5 interconnected dykes and has now been confirmed on 420m of lateral extension and up to a maximum depth of 440m where it joins the main dyke.” “Doris appears to run parallel to main zone which extends for 1.2km to the northeast.”
Durango’s 100% wholly owned NMX East ground adjoins Nemaska Lithium on the eastern perimeter where Nemaska Lithium’s Doris zone remains open, less than 1.5km from the proposed mining pit. Durango’s geological team confirmed a pegmatitic intrusion running parallel to Nemaska Lithium’s main zone where it tested positive for anomalous Lithium and rubidium as per the news release on September 21, 2016. A map of the zones comparative with Nemaska Lithium Inc. may be viewed on the Durango website.
About Durango
Durango is a natural resources company engaged in the acquisition and exploration of mineral properties. The Company has a 100% interest in the Mayner’s Fortune and Smith Island limestone properties in northwest British Columbia, the Decouverte and Trove gold properties in the Abitibi Region of Quebec, and the NMX East lithium property near the Whabouchi mine and the Buckshot graphite property near the Miller Mine in Quebec, the Whitney Northwest property near the Lake Shore Gold and Goldcorp joint venture in Ontario.
For further information on Durango, please refer to its SEDAR profile at www.sedar.com.
Marcy Kiesman, Chief Executive Officer
Telephone: 604.428.2900 or 604.339.2243
Facsimile: 888.266.3983
Email: durangoresourcesinc@gmail.com
Website: www.durangoresourcesinc.com
Forward-Looking Statements
This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances. For a detailed list of risks and uncertainties relating to Durango, please refer to the Company’s prospectus filed on its SEDAR profile at www.sedar.com.
Neither 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 release.
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Nevada Energy Announces Closing of Disposition of the Black Rock Desert Lithium Project in Nevada $BFF.ca
- Pursuant to an Option Agreement dated November 10, 2016 (the “Agreement”) between the Company and LiCo Energy Metals Inc. (“LiCo”), whereby LiCo can earn an undivided 70% interest, subject to a 3% net smelter return royalty (“NSR”), in 199 placer claims located in southwest Black Rock Desert, Nevada
January 6, 2017 / Vancouver, British Columbia- Nevada Energy Metals Inc. “the Company” (TSX-V: BFF; OTCQB: SSMLF) (Frankfurt: A2AFBV) announces that further to its news releases dated November 11, 2016 and December 15, 2016 and further to the conditional acceptance from the TSX Venture Exchange (the “Exchange”) dated January 5, 2017 pursuant to an Option Agreement dated November 10, 2016 (the “Agreement”) between the Company and LiCo Energy Metals Inc. (“LiCo”), whereby LiCo can earn an undivided 70% interest, subject to a 3% net smelter return royalty (“NSR”), in 199 placer claims located in southwest Black Rock Desert, Nevada, the transaction has now closed, subject to final acceptance of from the Exchange.
As consideration for the transaction the Company will receive from LiCo :
- -US$170,000 cash;-4,500,000 shares over two years; and-US $1,250,000 in exploration commitment within three years.
About Nevada Energy Metals: http://nevadaenergymetals.com/
Nevada Energy Metals Inc. is a well funded Canadian based exploration company who’s primary listing is on the TSX Venture Exchange. The Company’s main exploration focus is directed at lithium brine targets located in the mining friendly state of Nevada. The Company has 100% ownership in 78 claims in Clayton Valley, only 250m from Rockwood Lithium, the only brine based lithium producer in North America (under option to Lithium America who can earn a 70% interest); 100% interest in the 100 claim Teels Marsh West Project covering 2000 acres (809 hectares) in Mineral County, Nevada; 100% interest in the San Emidio Desert Project consisting of 155 claims (approximately 3,100 acres/1255 hectares) in Washoe County, Nevada; 100% interest in the 710 claim Dixie Valley Project covering about 5746 hectares (22 square miles) of playa and alluvial fan; 100% interest in the BSV Lithium Project – 160 claims, with an area of 3,200 acres/1,295 hectares, located in northern Big Smokey Valley, Nye County, Nevada; 100% interest in the Black Rock Desert Property – 199 claims (3,980 acres/ 1,610 hectares) located in southwest Black Rock Desert, Washoe County, Nevada (now optioned 70% interest to LiCo Energy Metals Inc.).
On Behalf of the Board of Directors
Rick Wilson, 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 contents of this news release.
Disclaimer for Forward-Looking Information:
This news release may contain forward-looking statements which include, but are not limited to, comments that involve future events and conditions such as Exchange approval of the Option Agreement and the Financing and the Company’s ability to exercise the Option or close the Financing, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward-looking. Forward-looking statements are not guarantees of future performance and actual results may vary materially from those statements. Availability of financing, and general business conditions are all factors that could cause actual results to vary materially from forward-looking statements.
Company Provides Update to “LiCo Energy Metals Enters into Letter of Intent to Acquire Lithium Exploitation Concession, Salar de Atacama in Chile’s Lithium Triangle” Press Release $LIC.ca
- Entered into a non-binding Letter of Intent (LOI) with Durus Copper Chile Spa, of Santiago, Chile whereby LiCo can earn up to a 60% interest in the Purickuta Lithium Exploitation Concession
- Located within Chile’s Salar de Atacama, the world’s largest and purest active source of lithium
Jan 6, 2017 Vancouver, British Columbia; – LiCo Energy Metals Inc. (“the Company” or “LiCo”) TSX-V: LIC,OTCQB: WCTXF would like to provide shareholders with an update to the announcement from Tuesday, January 3, 2017 wherein the Company entered into a non-binding Letter of Intent (LOI) with Durus Copper Chile Spa (“Durus Copper”), of Santiago, Chile whereby LiCo can earn up to a 60% interest in the Purickuta Lithium Exploitation Concession (the “Purickuta Project”) located within Chile’s Salar de Atacama, the world’s largest and purest active source of lithium. The LOI, when superseded by a definitive option agreement, will require LiCo to make cash payments totalling USD$8.4 million, issuing 5 million shares and making work and development commitments during the term of the option agreement.
The Company’s shares were halted from trading after the announcement on January 3, 2017 as the TSX Venture Exchange (“Exchange”) deemed the transaction to be a fundamental acquisition pursuant to Exchange Policy 5.3 (“the Policy”). In accordance with the Policy, the Company has now filed the required documents and trading has resumed. The transaction is subject to Exchange approval.
The Purickuta Project exhibits many highly desirable and key acquisition attributes, including:
1) the appearance of both a low-cost resource definition opportunity and a near term production opportunity;
2) the overall project size fits well within the capability of a junior company seeking to quickly define reserves and establish production facilities;
3) the property is well situated within the Salar de Atacama, the highest-grade lithium salar in the world;
4) within the Salar de Atacama, lithium brines exist within 140 feet of surface resulting in low costs of exploration and extraction;
5) the Purickuta Concession lies relatively near existing pumping and solar evaporation installations;
6) the Purickuta Concession is close to power, labour, communications, transportation and other infrastructure.
The Company intends to undertake a preliminary resource definition program upon receipt of the National Instrument 43-101 report, which is expected to be completed in February, 2017.
“We are excited about the opportunity to earn a significant interest in a lithium concession located in the world’s most prolific lithium brine deposit, Chile’s Salar de Atacama. Having two lithium giants, SQM and Albemarle, as neighbours in the salar gives us confidence that we will be able to develop this concession alongside our Chilean partner, Durus Copper, for the benefit of our shareholders.” says Tim Fernback, LiCo’s Chief Operating Officer.
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About the Purickuta Project:https://licoenergymetals.com/purickuta/
The Purickuta Project consist of 160 hectares and is one of a few “exploitation concessions” granted within the Salar de Atacama, home to approximately 37% of the worlds Lithium production. The property is contained within an existing exploitation concession owned by Sociedad Quimica y Minera (“SQM”), and lies approximately 3 km north of the exploitation concession of CORFO (the Chilean Economic Development Agency). About 22 km south-east from the Purickuta Concession, both SQM and Albemarle Corp. have large-scale production facilities within the CORFO concession mentioned above. These two facilities collectively produce over 62,000 tonnes of Lithium Carbonate Equivalent annually and account for 100% of Chile’s current lithium output.
Salar de Atacama is a salt flat encompassing 3,000 km2 being about 100 km long and 80 km wide. The salar possesses a very high grade of both lithium (1,840mg/l) and potassium (22,630mg/l). It has a high rate of evaporation (3,200 mm per year) and extremely low annual rainfall (15mm average per year). These characteristics make Atacama’s finished lithium carbonate easier and cheaper to produce than its peer group globally.
Structure of the LOI and subsequent Agreement:
The proposed transaction to acquire an interest in the Project up to 60%, shall be effected by payment of the amounts described below:
(a) payment of US$100,000 in cash by the Company to be paid to Durus Copper on the date that the Company receives a title opinion acceptable to LiCo, and in any event no later than December 31, 2016 (paid).
(b) the Company shall pay the sum of US$300,000 in cash and issue an aggregate of 5,000,000 common shares of the Company to Durus Copper within five (5) business days of date of TSX Venture Exchange approval (the “Effective Date”);
(c) the Company shall pay the sum of US$2,000,000 in cash to Durus Copper no later than six (6) months from the Effective Date;
(d) the Company shall pay the sum of US$2,000,000 in cash to Durus Copper on the earliest date that is 12 months from the Effective Date or the date of the receipt of a positive preliminary economic assessment on the Property;
(e) the Company shall pay the sum of US$2,000,000 in cash to Durus Copper upon the completion of a positive feasibility report on the Property and at the latest 18 months from the Effective Date;
(f) the Company shall pay the sum of US$2,000,000 in cash to Durus Copper upon receipt of a special lithium operation contract (the “CEOL”) regarding the Property; and
(g) the Company shall have the exclusive right to accelerate all payments due under this agreement.
Once LiCo has completed the foregoing conditions and as a result has exercised the option to acquire an initial 50% interest in the Purickuta Project (including the completion of the Work Commitment described below), and during a period not to exceed 12 months from the date the CEOL is executed, LiCo has an option to commence construction of a plant to achieve production at a minimum rate of 2,000 TPA or up to a maximum rate of 4,000 TPA. The Parties may agree to increase the production rate by mutual consent.
For the first US$10 million invested by LiCo in plant construction, LiCo will acquire an additional 10% interest in the Property from Durus Copper, to complete the acquisition of the 60% interest in the Purickuta Project.
Work Commitments:
LiCo shall be required to complete the following under its “Work Commitment” obligations as follows:
(a) the receipt of an acceptable title opinion in regards to the Purickuta Project, as required for the first US$100,000 payment;
(b) the completion of a NI 43-101 compliant report;
(c) the Preliminary Economic Assessment;
(d) the Project Feasibility Study; and
(e) the procedure and application for the execution of the CEOL.
The transaction will be subject to TSX-Venture approval. Finders fees are payable in connection with the sourcing and negotiation of the potential acquisition of the Purickuta Project.
Qualified Person: The technical content of this news release has been reviewed and approved by Alan Morris CPG.
About LiCo Energy Metals: https://licoenergymetals.com/
LiCo Energy Metals Inc. is a well funded Canadian based exploration company who’s primary listing is on the TSX Venture Exchange. The Company’s focus is directed towards exploration for high value metals integral to the manufacture of lithium ion batteries.
The Company has an option to earn 100% ownership, subject to a royalty, in the Teledyne Project located near Cobalt. Ontario. The Property adjoins the south and west boundaries of claims that hosted the Agaunico Mine. From 1905 through to 1961, the Agaunico Mine produced a total of 4,350,000 lbs. of cobalt and 980,000 oz. of silver. A significant portion of the cobalt that was produced at the Agaunico Mine located along structures that extended southward onto property currently under option to LiCo Energy Metals.
The Company has an option to acquire a 100% interest, subject to a 3% NSR, on a large lithium exploration project at the Humboldt Salt Marsh in Dixie Valley, Nevada. The geologic setting and presence of lithium in active geothermal fluids and surface salts in Dixie Valley match characteristics of producing lithium brine deposits at Clayton Valley, Nevada and in South America.
The Company has entered into an option agreement whereby the Company may earn an undivided 70% interest, subject to a 3% Net Smelter Return Royalty, in the Black Rock Desert Lithium Project that consists of 199 placer claims (3,980 acres, or 1,610 hectares) in southwest Black Rock Desert, Washoe County, Nevada.
The Company has signed a non-binding Letter of Intent (LOI) with Durus Copper Chile Spa, of Santiago, Chile whereby LiCo can earn up to a 60% interest in the Purickuta Lithium Exploitation Concession located within Chile’s Salar de Atacama, the world’s largest and purest active source of lithium.
The Company is planning an exploration programs for all its properties over the next several months.
On Behalf of the Board of Directors
Rick Wilson, 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 release.
Disclaimer for Forward-Looking Information:
This news release may contain forward-looking statements which include, but are not limited to, comments that involve future events and conditions such as TSX Venture Exchange approval of any Option Agreement for the acquisition of an interest in the Purickuta Project, the satisfaction of any obligations and conditions that may be contained in such Option Agreement, and the Company’s ability to exercise the Option, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward-looking. Forward-looking statements are not guarantees of future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward-looking statements.
Read MoreTesla to begin lithium-ion battery production at US megafactory – bodes well for $DGO.ca $BFF.ca $PFN.ca $SX.ca $FMR.ca
Elon Musk’s Tesla Motors says it has started producing lithium-ion battery cells at its $5 billion factory in Nevada.
The company says it began making high-performance cells in December and production started overnight for cells used in Powerwall energy-storage products.
Tesla plans to start making batteries for its Model 3 sedans later this year.
The massive Gigafactory outside Sparks is coming online in phases, with a goal of full operation in 2018.
Officials say it could almost double the world’s production of lithium-ion batteries, making them more affordable as the company looks beyond the luxury niche market.
The electric carmaker says it has more than 850 full-time employees, plus more than 1700 construction workers.
Nevada has promised Tesla $1.3 billion in state tax incentives based on projections that it’ll employ 6500 people at full production.
Source: https://thewest.com.au/business/startup/tesla-begins-lithium-ion-battery-production-at-us-megafactory-ng-b88347284z
Will $PFN.ca $DGO.ca $BFF.ca SX.ca supply the lithium needed to run the future’s electric cars?
Volkswagen Chairman Herbert Deiss told CNBC at the Paris Motor Show in November that “electric mobility will take off by 2020,” while Tesla CEO Elon Musk announced in May his aim for annual production to be at 1 million vehicles by this same year.
The onus is now on rechargeable batteries – rather than petrol – to propel the automotive industry into its proposed greener future, with lithium ion cells being the prevailing form of this technology.
“Lithium is a pretty abundant element naturally,” Jamie Speirs, a fellow in energy analysis and policy at Imperial College London, told CNBC via telephone. But, though worldwide production of the metal is increasing year on year, he detailed that “the current supply chain will not match up with lithium demand by, say, 2040.”
Unsurprisingly, as automakers gear up to sell more electric vehicles, prices for lithium have also risen.
“Owing to increased worldwide demand, spot lithium carbonate prices (in 2015) increased approximately 10% to 15% from those of 2014,” wrote the United States Geological Survey (USGS) in January of this year. So, which countries are crucial to lithium’s production – and who has the potential to control this market in the future? CNBC investigates.
China
Analysts CNBC spoke to concurred that China was ahead of the game in terms of its lithium production.
China’s lithium reserves are an estimated 3.2 million metric tons, according to the USGS in January 2016, meaning that the superpower ranks among those with the largest domestic supply. Most resources are located in its Qinghai and Tibet regions.
Perhaps in response to how much the market has grown – and where it may progress to in coming years – the price of Chinese battery grade lithium is currently well over $20,000/tonne, compared to $7,000/tonne in mid-2015, according to mining analysis firm CRU.
“China has a stranglehold on lithium production,” Speirs said. “Well organised and professionally run mining companies” make this enterprise profitable, he added.
This is bolstered by the convenient fact that China is the world’s largest electric vehicle market. According to the China Association of Automobile Manufacturers, sales of battery electric vehicles reached 258,000 units in the first ten months of 2016, increasing 102.5 percent year on year. In addition, the Chinese government has unveiled several incentives in recent years aimed at addressing the country’s environmental problems.
“In the future, we expect supply from China to increase significantly to meet the domestic demand,” CRU told CNBC via e-mail.
Latin America’s ‘lithium belt’
Argentina, Bolivia and Chile form a troika of lithium producers in Latin America, otherwise known as the “lithium belt” or “lithium triangle.” Could these countries spearhead a second commodity boom in the region?
“Latin American countries once produced lithium from ore, as with other metals, but can now do so from brine, which is cheaper,” Speirs explained. Contributing to the metal’s profitability, CRU added that for Latin America, “industrial-grade lithium carbonate contract prices increased by around 40% in 2016 due to strong demand growth and the ongoing supply deficit. Battery-grade lithium carbonate and lithium hydroxide prices surged higher.”
But, structural problems could hamper this particular market from taking off.
Chile, with its dry climate and lithium-rich Salar de Atacama salt flats, is an ideal production environment. The country is also popular with investors due to its free market economy. In addition, Reuters reported in November that Chilean firm SQM, one of the world’s largest lithium producers, saw 2016 third quarter profits more than quadruple due to rising lithium prices.
But, CRU told CNBC via e-mail that, “the [Chilean] industry is facing serious issues such as [the] imposition of production quota, on-going labour disputes [and] water shortage.”
Bolivia, though boasting 9 million metric tons in lithium resources, has suffered from a lack of exploration, infrastructure and technology, according to CRU. But, the Bolivian government is looking to establish a more foreign investment-friendly environment to encourage the growth of its lithium mining industry.
Unwinding Argentina’s formerly protectionist economy has been a key goal of President Mauricio Macri, which could foreground the country’s role in the lithium supply market. “Abolition of export duty on value-added products and capital controls have encouraged lithium players to consider Argentina for investment destination,” CRU told CNBC via e-mail.
Australia
According to the USGC in January of this year, Australia’s estimated reserves sit at 1.5 million metric tons. By way of contextualizing this figure, CRU said that “in 2015, Australia was the largest producer of lithium and accounted for around 40% of global lithium supply.”
It added that lithium production capacity will increase, meaning that the country is expected to maintain its position as one of the largest lithium producers in the long term.
Location is key for Australia, as CRU explained that the country enjoys investment from “downstream players such as battery manufacturers in Asian countries.” Considering that lithium is not currently traded on any major commodities or futures exchanges, shoring up future supply is crucial.
Follow CNBC International on Twitter and Facebook.
Source: http://www.cnbc.com/2016/12/30/the-new-opec-who-will-supply-the-lithium-needed-to-run-the-futures-electric-cars.html
Company Sifts oilfield waste for US$10,000-per-tonne #lithium
- MGX Minerals Inc. has been buying up metal and minerals permits in Alberta’s oil and gas producing regions but has no intention of mining the areas for lithium carbonate, which is used to make batteries for electric vehicles
- Jared Lazerson, MGX’s president and CEO, said the company is working to sign agreements with oil and gas producers to process their wastewater, a byproduct of oil and gas production, so the company can extract the lithium carbonate from that water, which would otherwise simply be treated like waste.
CALGARY – A tiny Vancouver-based mining company is betting Alberta’s energy sector could benefit from the rise of electric vehicles by harvesting its oilfield wastewater for lithium carbonate.
MGX Minerals Inc. has been buying up metal and minerals permits in Alberta’s oil and gas producing regions but has no intention of mining the areas for lithium carbonate, which is used to make batteries for electric vehicles.
Instead, Jared Lazerson, MGX’s president and CEO, said the company is working to sign agreements with oil and gas producers to process their wastewater, a byproduct of oil and gas production, so the company can extract the lithium carbonate from that water, which would otherwise simply be treated like waste.
MGX claims to be the “largest lithium brine land holder in Canada” with permits covering over one million barrels per day of brine production by various oil field operators throughout Alberta.
While MGX has yet to deploy a pilot project in the oilfield (a pilot is scheduled to begin in the first quarter of 2017), in December the company signed an agreement with oilsands giant Canadian Natural Resources Ltd. to work on the Sturgeon Lake region, near Grande Praire, Alta.
“Canadian Natural has allowed a third party to obtain water samples from our operations for their work in lithium carbonate,” CNRL spokesperson Julie Woo said in an email. “Beyond that, no decisions, plans or commitments have been made on the application of this technology in Canadian Natural’s operations.”
Lazerson said he hopes that MGX’s technology, for which it has filed patents, will allow oil and gas producers to help supply new energy markets, including the market for electric vehicles.
“Who better to have a big piece of the new energy sector than the energy sector?” he said. “I think there are going to be incredible efficiencies from oil and gas and new ideas as word starts to get out.”
Wood Mackenzie analysts expect lithium demand will double by 2024 as more and more consumers, especially in Europe, purchase electric vehicles.
Lithium prices have spiked in recent years because, as Wood Mackenzie noted in a November report, that lithium ion “has become the technology of choice” for electric vehicles.
The commodity is not traded on any exchange, however, and analysts say that current prices – which have reached US$10,000 per tonne – are likely to fall as new supplies become available.
“The trick isn’t finding lithium, the trick is producing it inexpensively,” Stormcrow Capital president and lithium analyst John Hykawy said in an email.
Hykawy said there are several companies attempting to produce lithium using water treatment technologies like reverse osmosis and nano-filtration but cautioned these are early-stage technologies being developed in a time of high prices.
Most of the lithium carbonate produced in the world is produced in South America’s “lithium triangle,” — the salt flats in Bolivia, Chile and Argentina — where new projects are also set to begin production.
“Prices will fall again, it might take a year or two,” Hykawy said. “But almost none of the smaller companies in the space, with the exception of Orocobre Ltd., are in a position to produce and have their profits benefit from these high prices. By the time most will be able to sell something, prices will be back to lower levels.”
MGX’s Lazerson hopes to move from a pilot project in the first quarter of next year to a full-scale commercial project by the third quarter. MGX, which trades on the alternative Canadian Securities Exchange, has seen its share price rise 110 per cent this year.
The company’s goal, Lazerson said, is to connect its water-treatment units with oil and gas operators in regions where they produce between 12,000 barrels per day to 20,000 bpd.
“Big picture, this is an add-on to oil and gas,” Lazerson said, adding that he thinks energy companies will see the value in the minerals in their waste and venture with MGX to process their water.
Financial Post
gmorgan@nationalpost.com
Twitter.com/geoffreymorgan
Source: http://business.financialpost.com/news/vancouver-mining-company-plans-to-scour-oilfield-waste-for-us10000-per-tonne-lithium?__lsa=0ccc-5bdd
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Fairmont Resources Inc. (TSX-V: FMR) Announces Proposed Private Placement Financing of Flow-Through and Non-Flow-Through Units $FMR.ca
- Proposed non-brokered private placement financing of up to 2,142,857 units at a price of $0.07 per NFT Unit
- Gross proceeds of up to $150,000 and a minimum of 1,250,000 and maximum of 1,875,000 units at a price of $0.08 per FT Unit for gross proceeds of up to $150,000
VANCOUVER, BRITISH COLUMBIA–(Dec. 22, 2016) – Fairmont Resources Inc. (“Fairmont”) (TSX VENTURE:FMR) is pleased to announce a proposed non-brokered private placement financing of up to 2,142,857 units (the “NFT Units”) at a price of $0.07 per NFT Unit for gross proceeds of up to $150,000 and a minimum of 1,250,000 and maximum of 1,875,000 units (the “FT Units”) at a price of $0.08 per FT Unit for gross proceeds of up to $150,000.
Each NFT Unit will be comprised of one common share of Fairmont and one common share purchase warrant (a “NFT Warrant”), with each NFT Warrant entitling the holder to purchase one additional common share at $0.15 per share for a period of two years from the date of issue. Each FT Unit will be comprised of one flow-through common share of Fairmont (of which $0.072 of each flow-through common shares will be committed to qualifying expenditures) and one common share purchase warrant (a “FT Warrant”), with each FT Warrant entitling the holder to purchase one additional common share at $0.15 per share for a period of two years from the date of issue.
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