The world needs to get its hands on more lithium supply immediately. Unfortunately, there’s just not enough of it to meet all the demand. In fact, according to Stellantis’ CEO Carlos Tavares, there’s just not enough, which is helping to drive upside in lithium stocks, such as LithiumBank Resources Corp. (TSXV: LBNK) (OTCQX: LBNKF), Albemarle Corporation (NYSE: ALB), Lithium Americas (NYSE: LAC) (TSX: LAC), American Lithium Corp. (NASDAQ: AMLI) (TSXV: LI), and Piedmont Lithium (NASDAQ: PLL). Another strong catalyst has been Ford Motor’s new agreement with Albemarle, which will deliver more than 100,000 tonnes of battery grade lithium hydroxide to the automaker between 2026 and 2030.
In addition, according to Bloomberg, “Availability and costs of crucial battery materials like lithium, cobalt and nickel have been key concerns for years among EV makers trying to build out their electric lineups. The issue has gained more urgency in recent months due to rising competition to strike supply pacts with miners and project developers and by wild swings in raw material costs. The spot value of lithium consumption alone surged to about $35 billion in 2022, from $3 billion in 2020.”
Look at LithiumBank Resources Corp. (TSXV: LBNK) (OTCQX: LBNKF), For Example
LithiumBank Resources Corp. just announced the highlights from the initial Preliminary Economic Assessment for the Boardwalk lithium brine project located in west-central Alberta, Canada. The completed NI 43-101 PEA Technical Report will be filed on SEDAR within 45 days of this announcement.
Boardwalk Highlights
- 31,350 metric tonnes per year of battery grade lithium hydroxide monohydrate over a 20-year period, the largest proposed LHM production in North America
- USD $2.7 Billion NPV8 and 21.6% IRR on a pre tax basis
- USD $1.7 Billion NPV8 and 17.8% IRR on an after tax basis
- OPEX of USD $6,807/ton LHM
- Direct Lithium Extraction used to process Boardwalk brine will require less fresh water and have a surface footprint that is a fraction of hard rock or evaporation lithium production.
- Ramp up to commercial production within 3 years is possible under newly established permitting directives.
- Located in Tier 1 jurisdiction, west-central Alberta, that has a long history of resource extraction, well established infrastructure, and an actively supportive government.
- Power to be generated on site using high-efficiency gas turbines with steam cogeneration that will lower the project’s overall carbon footprint. The proposed gas turbine units may be run on 80% hydrogen when a reliable supply is available.
- Multiple opportunities to significantly enhance project economics through optimization, further engineering, and pending incentive tax credit.
- Project economics used USD $26,000/t LHM and provides strong leverage to higher lithium prices.
“We are very pleased to provide one of a handful of economic studies of DLE based lithium projects in the world. Over the last 15 months, our PEA senior author Hatch Ltd has rigorously tested or assessed over a dozen DLE technologies, completed multiple trade off studies and has established Boardwalk as an economically viable project in the new post-pandemic financial environment,” commented Paul Matysek, Executive Chairman LithiumBank. “Boardwalk is unique with an uncomplicated mineral title containing a 6.2M tonne LCE brine resource that has the potential to produce battery grade LHM for 20 years, right here in North America. Furthermore, there is potential for substantial upside on these economics from the recently announced Canadian Investment Tax Credit and other numerous optimization opportunities.”
Other related developments from around the markets include:
Albemarle Corporation announced a definitive agreement with Ford Motor Company to deliver battery-grade lithium hydroxide to support the automaker's ability to scale electric vehicle (EV) production. Albemarle will supply more than 100,000 metric tons of battery-grade lithium hydroxide for approximately 3 million future Ford EV batteries. The five-year supply agreement starts in 2026 and continues through 2030. Both Albemarle and Ford are committed to supplying the U.S. EV supply chain via lithium hydroxide domestically produced in the United States or originating in a country with a U.S. Free Trade Agreement. "With the growing demand for EVs in the United States, our customers are seeking to regionalize their supply chain for greater security, sustainability and lower costs," said Eric Norris, President, Albemarle Energy Storage. "This agreement exemplifies the industry collaborations and investments required. We're honored to be entering into this strategic partnership with a legendary automotive manufacturer such as Ford."
Lithium Americas announced that its Board of Directors has unanimously approved the execution of an arrangement agreement providing for the reorganization of the Company that will result in the separation of its North American and Argentine business units into two independent public companies. The Separation will establish an Argentina focused lithium company and a North America focused lithium company. Lithium Argentina will own Lithium Americas’ current interest in its Argentina lithium assets, including the 44.8% interest in Caucharí-Olaroz, the 100%-owned Pastos Grandes project and the 65% interest in the Sal de la Puna project. Lithium Americas (NewCo) will own the 100%-owned Thacker Pass lithium project in Humboldt County, Nevada, as well as the Company’s investments in Green Technology Metals Limited (ASX:GT1) and Ascend Elements, Inc.
American Lithium Corp. announced receipt of the first of three permits from Peruvian authorities for drilling near Quelcaya, 5-6 kms west of the Company’s Falchani deposit, and drilling will start immediately. Simon Clarke, CEO of American Lithium states, “This is a very significant development for the Company, which validates recent supportive comments from the new government in Peru and enables us to target the discovery of new lithium mineralization on some of the best previously identified targets on the Macusani Plateau. With momentum building, the Company continues to advance its projects in Peru and Nevada with PFS work being fast-tracked on both of our large-scale lithium projects.”
Piedmont Lithium, a leading global developer of lithium resources, reported the results of a Definitive Feasibility Study of the Company’s proposed Tennessee Lithium project in McMinn County, Tennessee. The Study of the 30,000 metric ton per year lithium hydroxide plant featuring the innovative and waste-reducing Metso:Outotec conversion technology affirms the potential for Piedmont to develop an American-based lithium hydroxide business using spodumene concentrate from market sources, including via existing offtake agreements with Sayona Quebec and Atlantic Lithium.
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 LithiumBank Resources Corp. by LithiumBank Resources Corp. We own ZERO shares of LithiumBank Resources Corp. Please click here for full disclaimer.
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