With substantial demand, and significant supply shortages, lithium prices just ran about 400% year over year. However, with shortages persisting, lithium prices could head higher – which could be great news for related companies, such as Scotch Creek Ventures Inc. (CSE:SCV)(OTC:SCVFF), Ameriwest Lithium Inc. (CSE:AWLI)(OTC:AWLIF), American Lithium Corp. (TSXV:LI)(OTC:LIACF), Albemarle Corp. (NYSE:ALB), Lithium Americas Corp. (NYSE:LAC).
All thanks to a massive, global shift to electric vehicle adoption. At the moment, governments all over the world want millions of EVs on the roads over the next decade. The U.S. for example wants about 50% of all car sales to be electric by 2030. Companies, like Ford, General Motors, Volkswagen, and Mercedes are racing to develop them.
But there’s a major problem. We just don’t have enough lithium supply. In fact, right now, supply is struggling to keep up with massive demand. Even the International Energy Agency just warned, “The supply of critical minerals crucial for technologies such as wind turbines and electric vehicles will have to be ramped up over the next decades if the planet’s climate targets are to be met. At least 30 times as much lithium, nickel and other key minerals may be required by the electric car industry by 2040 to meet global climate targets.”
Scotch Creek Ventures Inc. (CSE:SCV)(OTC:SCVFF) May be Able to Help
Situated in one of the hottest lithium districts anywhere in the world – Clayton Valley, Nevada,
Scotch Creek Ventures Inc. just announced that Robert D. Marvin, P.Geo, has agreed to join its Board of Directors. Mr. Marvin brings over 40 years of mineral exploration experience and was instrumental in the exploration and discovery of a multi-billion tonne lithium resource. Mr. Marvin will further assist Scotch Creek in both the advancement of its exploration objectives, as well as expanding its portfolio of lithium projects.
Scotch Creek Ventures’ CEO, Mr. David Ryan, commented “we are extremely pleased to announce Mr. Marvin’s expanded role with Scotch Creek. Mr. Marvin’s substantial exploration experience and more specifically his proven track record in identifying lithium resources, could prove to be a huge addition to Scotch Creek’s management and its overall success.”
Additionally, Mr. Marvin stated “I am excited to take on a more active role with Scotch Creek. I have to mention that the company’s promising portfolio of lithium assets has been a driving factor in my decision to take on this increased responsibility.”
In connection with the appointment of Mr. Marvin, Scotch Creek Ventures Inc announces the resignation of Donald Archibald as Director effective immediately to focus on other business commitments. “On behalf of Scotch Creek’s Board of Directors, I would like to thank Mr. Archibald for his valuable contribution to the Company, and we wish him all the best in his future endeavors,” said David Ryan, President & CEO of Scotch Creek Ventures in a statement.
About Robert D. Marvin
Mr. Marvin, P.Geo, a Qualified Person under National Instrument 43-101, has been involved in mineral exploration as a professional geologist and consultant since 1979. His exploration experience ranges from gold, copper, zinc, lithium to uranium and has spanned throughout the Americas and Asia.
Mr. Marvin has worked for dozens of companies including major mining companies and aggressive junior exploration companies. Discoveries made in gold, base metals, and most recently in identifying the lithium potential of mudstones on the east flank of Clayton Valley, resulted in the discovery of a world-class lithium resource in Nevada.
Robert has also served on several junior company boards as Vice President of Exploration and remains active in the field acquiring properties by staking and conducting drill exploration with a strong focus on cost-effective successes through old school field methods and optimisms.
Other related developments from around the markets include:
Ameriwest Lithium Inc., a North American lithium exploration and development company, is pleased to provide the following exploration update on its Nevada Properties. As announced by press release dated November 3, 2021, Ameriwest acquired seismic data for its 9,097-acre RRV property. A total of 26.7 line-miles of data was acquired from Seismic Exchange Inc. and Ameriwest retained Castillo Geophysical Limited and Legg Geophysical Inc. to reprocess and analyze the data. Results from the re-interpretation of the historic seismic data exceeded expectations. The interpretation showed the valley floor, sedimentary strata, faults, and, in combination with recently acquired MT data, the location and geologic explanation of potential brine on the claim block. The data indicates a potential brine reservoir at a depth of approximately 2,000 ft to 4,000 ft below surface.
American Lithium Corp. announced that the Bureau of Land Management and the Nevada Division of Environmental Protection have approved the Plan of Operations and Reclamation Plan for the next phases of development and exploration work at the Company’s Tonopah Lithium Claims Project located near Tonopah, Nevada. Simon Clarke, CEO of American Lithium states, “We are extremely pleased to have the TLC Plan of Operations and Reclamation Permit approved and the finalization of our BLM and NDEP permits. We would like to thank our team and key advisors on the ground, and BLM and NDEP for their efforts throughout the process. This is a big step for the company and enables the launch of a major development program which we believe will provide all the data / results needed to move quickly from a robust, maiden PEA and into the pre-feasibility / feasibility phase on our core TLC Project.”
Albemarle Corp., a leader in the global specialty chemicals industry, announced a price increase for Catalysts global business unit customers. These price increases are effective immediately, or as contracts allow. Albemarle and its suppliers are continuing to see unprecedented increases worldwide in energy costs (gas and electricity) and for key raw materials that are critical to manufacturing our performance products. Several factors are impacting an increase in the cost of energy and key raw materials, some of which may be temporary. Examples include the increased energy costs in Europe due to a winter shortage, the up-to-40% increase in the costs of industrial metals, and the acute tightness in chlor alkali markets. Albemarle continues to monitor the energy and commodities markets accordingly. "Albemarle remains committed to delivering value to our customers with no interruptions to supply," said Raphael Crawford, President, Catalysts global business unit. "Our intent is to cover the increased costs we are experiencing through productivity gains and price adjustments for our products and services, and to flex with the market over the coming months."
Lithium Americas Corp. announced that on November 24, 2021 the Company purchased 23,369,003 common shares of Arena Minerals Inc. at a price of C$0.54 per share through an alternative market transaction for aggregate consideration of approximately US$10 million (the “Purchase”). The Arena Shares represent 6.3% of the issued and outstanding common shares of Arena Minerals as of close of market on November 24, 2021. Prior to the Purchase, Lithium Americas beneficially owned 42,857,143 common shares, representing approximately 11.6% of Arena Mineral’s issued and outstanding share capital on a non-diluted basis, and 21,428,571 share purchase warrants.
Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Winning Media is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement Winning Media has been paid three thousand five hundred dollars for advertising and marketing services for Scotch Creek Ventures Inc. by Scotch Creek Ventures Inc. We own ZERO shares of Scotch Creek Ventures Inc. Please click here for full disclaimer.
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