Global demand for lithium batteries is expected to jump five-fold by 2030, according to Li-Bridge, as noted by Reuters. All as demand electric vehicles, and energy storage systems also increases. In fact, according to Li-Bridge, “Demand for lithium batteries in the United States is expected to grow more than six times and translate into $55 billion per year by the end of the decade, but still the country is expected to depend on imports for supply.” That’s a solid catalyst for companies, such as Usha Resources Ltd. (TSXV: USHA) (OTCQB: USHAF), Livent Corporation (NYSE: LTHM), American Lithium (NASDAQ: AMLI) (TSXV: LI), Lithium Americas (NYSE: LAC) (TSX: LAC), and Albemarle (NYSE: ALB). "The lack of a substantial lithium battery supply chain in the United States and the lack of secure access to energy materials pose serious threats to U.S. national and economic security," Li-Bridge added.
Look at Usha Resources Ltd. (TSXV: USHA) (OTCQB: USHAF), For Example
Usha Resources Ltd., a North American mineral acquisition and exploration company focused on the development of drill-ready lithium and other battery and precious metal projects, is pleased to report that the Company has staked 302 claims totaling 5,914 acres surrounding the 140 optioned claims at its Jackpot Lake Lithium Brine Property, effectively more than tripling the total land it controls within the Dry Lake basin. The total footprint of the Project now comprises 442 mineral claims with a total area footprint of approximately 35.3 km2 or 8,714 acres.
The prospective lithium brine Project target is a strong conductive geophysical anomaly that was identified through gravity and controlled source audio magnetotellurics/magnetotellurics (CSAMT/MT) surveys. The CSAMT survey defined a strong conductive anomaly that comprised the entirety of the Company's initial optioned claim block (2,800 acres; 11.3 km2) that was open in all directions for further Project expansion. The target is shallow, predominantly above bedrock depths of 600 meters, and is approximately 450 metres thick. The Company has now staked all strategic available basin acreage surrounding its core claims.
Current drill program findings (see Usha Resources’ news release dated February 7, 2022) have demonstrated the potential for a significant lithium discovery, subsequently motivating the Company to stake the additional land within the basin to secure the projection of the aforementioned geophysical anomaly.
The Company is now drilling the second hole of its program (see Usha Resources’ news release dated February 14, 2022) and will incorporate the findings of its initial two holes to help identify and target higher porosity zones comprised of sand and conglomerate within the staked claims, as per the Preliminary Economic Assessment (PEA) completed by Pure Energy Minerals for their Clayton Valley project, their sand and conglomerate zone was identified to contain a large volume of brine with superior grades.
Deepak Varshney, CEO of Usha Resources, commented: "Drilling results to date have provided support that the Jackpot Lake lithium brine target is in a similar geologic setting to that of Clayton Valley which hosts Albemarle’s Silver Peak Nevada Lithium Mine, the only producing lithium mine in North America. Considering what we’ve seen from our initial drill hole, and given the fact that an expansive claim block open in all directions is now firmly under our control, we are optimistic in thinking that we may have discovered an untapped lithium deposit. Securing this land quickly, therefore, made strategic sense as it will allow us to drill throughout the basin with a focus on high-porosity sand-conglomerate zones that we believe are potential game changers for our shareholders and for delivering a transformational 43-101 resource.”
Other related developments from around the markets include:
Livent Corporation reported results for the fourth quarter and full year of 2022. Fourth quarter revenue was $219.4 million, down 5% and up 79% from the third quarter of 2022 and the prior year's quarter, respectively. Continued strength in lithium market conditions and customer demand resulted in higher sequential volumes, the impact of which was partially offset by a less favorable customer mix. For the full year, Livent reported revenue of $813.2 million, nearly double 2021 results. Full year Adjusted EBITDA was $366.7 million, over five times higher than the prior year, and adjusted earnings per share were $1.40 per diluted share. This significant improvement was a result of higher average realized prices across all lithium products.
American Lithium provided operating and financial highlights for the third-quarter. “During the quarter, the Company made strong progress and delivered on several key milestones,” stated Simon Clarke, CEO of American Lithium. “Successful drilling at TLC allowed us to deliver new and expanded resources, forming the foundation for the Company’s maiden PEA announced yesterday.” During the quarter, the company continued to receive strong drill results from its 2022 drill program as it intersected high grade sections at TLC.
Lithium Americas announced it entered into a purchase agreement with General Motors pursuant to which GM will make a $650 million equity investment in Lithium Americas. In connection with the Transaction, the Company has provided an update on the construction plan for the Thacker Pass lithium project in Humboldt County, Nevada, including the release of an independent National Instrument 43-101 feasibility study. The agreement represents the largest-ever investment by an automaker to produce battery raw materials, with GM to become Lithium Americas’ largest shareholder. Lithium Americas to receive $650 million equity investment from GM consisting of $320 million first tranche investment for common shares representing 9.999% of Lithium Americas before separation; and $330 million second tranche investment, contemplated to be invested in the Company’s U.S. business following the separation of its U.S. and Argentine businesses.
Albemarle, a leader in the global specialty chemicals industry, today announced the official brand launch of Ketjen, its wholly owned subsidiary that crafts tailored, advanced catalyst solutions for the petrochemical, refining and specialty chemicals industries. The company shared the new name of its catalysts business in November 2022 after announcing plans to operate the business as a subsidiary. As a distinct brand, Ketjen will continue to support customers in their unique energy transition journeys from fluidized catalytic cracking to clean fuels to hydro-processing to organometallics and curatives. "As the industry responds to global market dynamics, our customers need innovative solutions to help them navigate their changing landscapes," said Ketjen President Raphael Crawford. "Ketjen will continue to provide its portfolio of advanced catalyst and specialty chemicals solutions, which are unique to each customer's needs, to increase production performance and business value."
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. Usha Resources Ltd. paid three thousand five hundred dollars for advertising and marketing services to be distributed by Winning Media. Winning Media is only compensated for its services in the form of cash-based compensation. Winning Media owns ZERO shares of Usha Resources Ltd. Please click here for disclaimer.
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