Lithium Australia NL (ASX:LIT) announced advances rhe Ravensthorpe Lithium Project in southern western Australia.

As quoted in the press release:

HIGHLIGHTS: 

• Pegmatite samples at the Horseshoe Prospect includes assay up to 4.08% Li2O, confirming the presence of high-grade
• Soil geochemistry at the Deep Purple Prospect, suggest pegmatites continue under soil-cover, as anomalies extend to twice the length of
• Mapping and sampling at the Phillips South Prospect has identified at least two lithium pegmatites, one of which is mostly soil-covered.
• Submission of Program of Work to enable drilling of the Deep Purple

Lithium Australia Managing Director, Adrian Griffin, stated:

Exploration success at Ravensthorpe adds significant potential to our Yilgarn portfolio that has been recently expanded through the consolidation of mineral rights at Lake Johnston, and the Widgiemooltha acquisition within the Goldfields Lithium Alliance with Cazaly Resources. The identification of abundant lithium pegmatites at Ravensthorpe is pleasing, and confirms the potential of the area, long since realized by Galaxy Resources, at nearby Mt Cattlin.

Connect with Lithium Australia NL (ASX:LIT) to receive an Investor Presentation.

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Galaxy Resources Limited (ASX:GXY) announced that a second binding definitive agreement has been signed between another Chinese Offtake Customer, Mitsubishi Corporation and GMM.

As quoted in the press release:

Highlights

• Second definitive offtake agreement signed between General Mining, Mitsubishi Corporation and Offtake Customer
• Agreement to supply 15,000 tonnes of lithium concentrate for calendar year 2016 and 60,000 tonnes for 2017
• US$4.5 million pre-payment received by General Mining on behalf of joint venture with Galaxy
• Galaxy and General Mining to sell additional 15,000 tonnes of planned 2016 production not contracted by spot or auction process
• Initial 15,000 tonne spodumene concentrate shipment on schedule for September 2016
• Lithium carbonate pricing in China continues to be robust
• Galaxy receives first joint venture instalment of A$1.5 million from General Mining due 30 June 2016
• Galaxy makes paydown of A$1.05 million on its corporate debt facility from A$1.5m General Mining payment
• Acceptance level for the General Mining Takeover Bid currently at 31%

The final offtake agreement terms were as outlined in the binding Term Sheet announced 8 March 2016. The JV Partners have now banked a total of US$13.5 million in prepayments from these two customers and, in light of the continued robustness in lithium carbonate pricing since when the original offtakes were negotiated, they have also decided to retain 15,000 tonnes of 2016’s forecast production for a potential spot or auction sale process later this year.

Connect with Galaxy Resources Limited (ASX:GXY) to receive an Investor Presentation.

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CanAlaska Uranium (TSXV:CVV) has announced that it has closed a non-brokered private placement financing previously announced on June 20 and 21, 2016, having issued 2 million units for gross proceeds of $1,120,000.

As quoted in the press release:

In connection with this financing, and in compliance with the policies of the TSX Venture Exchange, the Company paid finder’s fees totaling $78,400 cash and 140,000 finder’s warrants. Each finder’s warrant is non-transferable and exercisable for one common share of the Company at a price of $0.70/share for a two year period, provided that if the closing price of the Company’s common shares listed on the TSX Venture Exchange exceeds $1.00/share for 10 consecutive trading days, then at any time thereafter the Company may accelerate the exercise period of the warrants to reduce it to a period expiring 10 calendar days after the date express written notice of such acceleration is provided by the Company to the warrant holders.

All securities issued under this private placement will be subject to a four month and one day hold period in accordance with applicable securities laws and the policies of the TSX Venture Exchange.

Click here to read the full press release.

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Wellgreen Platinum (TSX:WG) has announced the commencement of a drill program and field work at its 100 percent owned Wellgreen PGM-Nickel project in the Yukon.

As quoted in the press release:

The 2016 Program will consist of approximately 2,500 meters of drilling designed to (See Figure 1):

• test resource expansion potential along the North Arm and the Middle Arm of the deposit, some of which was unclassified in the 2014 resource model and, therefore, categorized as waste in the Company’s 2015 Wellgreen PEA¹ (the “2015 PEA”)
• test for the potential conversion of a portion of Inferred Mineral Resources in the Central Zone into the Measured & Indicated categories and assess expansion of the starter pit detailed in the 2015 PEA; and
• continue testing of the continuity of higher grade intercepts in the Central Zone in the lower portion of the 2015 PEA Base Case pit.

A successful limited borehole electromagnetic (“EM”) survey conducted at the Wellgreen Project in the fourth quarter of 2015 identified previously drilled massive sulphides several tens of metres off-hole. Therefore, the Company plans to conduct additional borehole EM surveys in the 2016 Program to assist with targeting potential massive sulphides in the North Arm and Middle Arm.

In parallel with the 2016 Program and metallurgical review program, the Company is continuing environmental baseline, assessment and mitigation studies.

Click here to read the full press release.

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Sienna Resources Inc (TSXV:SIE) (A1XCQ0-FSE) (HBNRF-OTCBB) announced it has engaged GeoXplor Corp. of Anthem Arizona to oversee Sienna’s work program on its 100 percent owned “Clayton Valley Deep Basin Lithium Brine Project.”

As quoted in the press release:

GeoXplor have been influential in the development of the lithium brines in the Clayton Valley since 2008. GeoXplor currently are operators on Pure Energy Minerals’ Clayton Valley South project, where they were instrumental in helping discover and identify an Inferred Resource of 816,000 tonnes of Lithium Carbonate equivalent (July 2015 NI 43-101) and also is operational manager for Lithium X Energy Corp’s operations in Clayton Valley.

Sienna’s “Clayton Valley Deep Basin Lithium Brine Project” is located directly between and bordering Pure Energy Minerals Limited (TSXV:PE) and Lithium X Energy Corp (TSXV:LIX). The “Clayton Valley Deep Basin Lithium Brine Project” is located in parts of the deepest sections (refer to the map) of the only lithium brine basin with a producing operation in North America (Albemarle’s (NYSE:ALB) Silver Peak Mine).

Sienna Resources President, Jason Gigliotti, stated:

We are very fortunate to be able to engage GeoXplor who have the most intimate knowledge of Clayton Valley. The GeoXplor team have been instrumental with the development and discovery regarding the lithium brine deposit that Pure Energy Minerals Limited has, and we look forward to utilizing their experience and expertise to develop our “Clayton Valley Deep Basin Lithium Brine Project.” GeoXplor has proven to be the preeminent Clayton Valley lithium brine discovery team. We are very excited to start up our program as Sienna is located in the deepest sections of the basin that holds the only lithium development in Nevada.

Connect with Sienna Resources Inc (TSXV:SIE) (A1XCQ0-FSE) (HBNRF-OTCBB) to receive an Investor Presentation.

 

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Macarthur Minerals (TSXV:MMS) announced the appointment of Mr David Lenigas, as an independent director.

As quoted in the press release:

David Lenigas is a Mining Engineer, with extensive experience in the lithium business, having recently retired as the Executive Chairman of Rare Earth Minerals plc (“REM”). REM is a London listed Investment Company, which has a number of strategic investments in lithium projects around the world.

Mr Lenigas was responsible for REM’s early entry, in 2013, into the Sonora Lithium Project in northern Mexico, one of the world’s largest new lithium projects. REM has a 30% interest in the majority of the Sonora Lithium Project acreage, with TSX-V and London listed Bacanora Minerals Ltd (“BCN”). He also served as a non-executive director of BCN until the end of 2015. REM has a 15.6% interest in BCN and is one of its largest shareholders.

Mr Lenigas was also responsible for REM making an early stage 16.4% shareholding in Australian and London listed European Metals Holdings Limited (“EMH”). EMH is the owner of the Cinovec Lithium Project in the Czech Republic, the largest lithium project in the European Union, which is strategically located on the border with Germany.

Mr Lenigas is also Executive Chairman of London listed Leni Gas Cuba Limited (“LGC”), the only listed company totally focused on investing in Cuba. LGC is currently subject to a reverse takeover of TSX-V listed Knowlton Capital Inc. Following completion of the takeover, Mr Lenigas will be Co-Chairman and Chief Executive of the renamed entity; LGC Capital Ltd, listed on the TSX-V. In addition, he is the Executive Chairman of a bespoke agri-logistics company; London listed AfriAg plc, which specialises in moving significant quantities of perishable food from southern Africa to global markets. He is also the Executive Chairman of United Kingdom oil and gas company, Doriemus plc, which is part of the syndicate responsible for the new Horse Hill oil discovery near London’s Gatwick Airport.

Connect with Macarthur Minerals (TSXV:MMS) to receive an Investor Presentation.

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Gold prices finished the week fairly flat, spiking mid-week before edging back down on Thursday and Friday. Overall, gold was up 0.19 percent to $1,353 per ounce as of 12:11 p.m. EST.

Prices for the yellow metal spiked in the wake of Britain’s vote to leave the European Union two weeks ago. As Fortune reported, gold hit a two-year high on Wednesday as more investors flocked towards the safe-haven asset.

“No one is able to understand how much risk is yet to be unraveled (from Brexit). That is an uncertainty that no one likes. This is what is driving gold prices higher,” Argonaut Securities analyst Helen Lau told the publication.

Friday brought the release of stronger US jobs data, typically a bad sign for gold. But according to BullionVault, the yellow metal stayed strong to hit its highest weekly close since March 2014. Ahead of the results release, a trader from the Swiss refining and finance group MKS told the news outlet, “A very strong jobs figure will trigger some short term pain for gold prices. However, the underlying uptrend should prevail in the medium term.”

Meanwhile, silver prices lost ground this week, falling 2.41 percent to trade at $19.87 per ounce as of 12:34 p.m. EST. Still, silver briefly topped $20 per ounce earlier in the week, and some believe that silver prices could hit $25 per ounce by the end of the year.

According to MarketWatch, analysts have upped their price predictions to $25, $27 and even $32 per ounce.

Comex copper prices also fell for the week, dropping 3.57 percent to reach $2.11 per pound as of 12:45 p.m. EST. That loss comes after copper hit two-month highs a week earlier, boosted by a softer US dollar as Brexit fears subsided.

However, Bloomberg reported that copper supply set to come online could run into hangups in the near-term, making a deficit more likely. “Our project pipeline has thinned considerably over the last year as we have factored in further delays,” said Christine Meilton, principal consultant on copper supply and raw materials at CRU in London, told the news agency.

Lastly, spot oil prices fell 7 percent for the week to reach $45.43 per barrel as of 12:51 p.m. EST on Friday. As per Reuters, prices saw a sharp drop to two-month lows on Thursday after data from the US Energy Information Administration showed crude oil stockpiles had declined less than expected.

Oil bounced back only slightly on Friday following attacks on oil installations in Nigeria, BNN reported.

Don’t forget to follow us @INN_Resource for real-time news updates.

Securities Disclosure: I, Teresa Matich, hold no direct investment interest in any company mentioned in this article. 

Related reading: 

Weekly Round-Up: Gold Boom

Weekly Round-Up: Gold Price Briefly Tops $1,300

Weekly Round-Up: Gold Boom

Weekly Round-Up: Gold Price Leaps on US Jobs Data

Weekly Round-Up: Gold Prices Dip on Increased Rate Hike Speculation

Weekly Round-Up: Gold Price Falls on Dollar Strength

Weekly Round-Up: Gold and Silver Keep Rising

Weekly Round-Up: Gold Rises on US Jobs Data

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Recently at the VCF 2016 Belmont Resources Inc. (TSX:BEA) Secretary/CFO/Director, Gary Musil, discussed the company’s return to the Clayton Valley, Nevada.

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Nemaska Lithium Inc. (TSX:NMX,OTCQX:NMKEF) announce that it has completed its previously announced public offering (the “Offering”), for aggregate gross proceeds of $69,000,115.

As quoted in the press release:

In connection with the Offering, the Corporation issued a total of 60,000,100 units of the Corporation, which included the exercise of the over-allotment option in full, at a price of $1.15 per unit (the “Offering Price”). The Offering was completed through Dundee Securities Ltd. acting as lead agent, and including Cormark Securities Inc., CIBC World Markets Inc., GMP Securities L.P., Desjardins Securities Inc., Echelon Wealth Partners Inc. and Jett Capital Advisors, LLC (collectively, the “Agents”).

The Corporation intends to use the net proceeds of the Offering for engineering fees in relation to the Whabouchi Mine and concentrator and the Shawinigan hydromet plant, down-payments for long lead items, drilling and for general working capital purposes.

The Corporation is also pleased to announce its graduation to the Toronto Stock Exchange (the “TSX”) today pursuant to which all the common shares of the Corporation including the common shares issued pursuant to the Offering as well as the warrants issued pursuant to the Offering commenced trading on the TSX under the current stock symbol “NMX” for the common shares of the Corporation and “NMX.WT” for the warrants. As a result of the graduation to the TSX, the Corporation’s common shares were delisted from the TSX Venture Exchange.

Nemaska Lithium President and CEO, Guy Bourassa, stated:

This financing strengthens Nemaska Lithium from a project execution standpoint, as we can now progress the commercial mine and hydromet plant projects in a significant way.We are starting the detailed engineering work of both the hydromet plant and the mine site, ordering long lead items, as well as initiating construction of the main buildings at the Whabouchi mine site. This will allow us to continue our work in enclosed facilities during the winter of 2017, which is critical to keeping us on target for production in Q2 2018 when the market for lithium compounds is projected to be very tight on the supply side. With close to 90% of this offering going to over 30 institutional investors we have significantly broadened our shareholder base and increased our presence with international investors.

Connect with Nemaska Lithium Inc. (TSX:NMX,OTCQX:NMKEF) to receive an Investor Presentation.

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Tesla Motors (NASDAQ:TSLA) is a favourite to watch for lithium investors and motor enthusiasts alike. But is the stock overvalued?

Matt Stack of XLP Capital thinks so. He’s the founding manager of XLP, as well as the Chief Investment Officer of the firm’s technology activist fund, Devonshire Capital.

The company has published two reports under the name Devonshire Research Group, outlining why the company chooses to hold a short position in Tesla. Both reports can be found here.

No doubt, plenty of investors might also be wondering whether Elon Musk’s electric vehicle (and soon to be battery) company is truly undervalued. The Investing News Network spoke with Stack to get a bit more insight into his views on the subject.

Here’s some of what he had to say:

First is not always best

Devonshire sees Tesla as an early mover in the electric vehicle space, but argued that disruptive industries need to reach a tipping point before companies can capture benefits at scale.

“The first out in tipping point industries is rarely the sustainable leader,” he said.

GAAP vs non-GAAP

Stack took issue with the difference between Tesla’s self-reported non-GAAP financials versus its GAAP audited financials:

“On an earnings-per-share basis, that gap is growing hyperbolically. In the long run, that either signifies completely novel types of business model innovation, of which modern accounting standards simply cannot capture or reflect, or it signifies that the non-GAAP earnings will snap back to the GAAP based earnings, in which case the truth about the business possibility will be made publicly available. Tesla reports a significant net loss quarterly anyway … What would those numbers look like if they were GAAP reported?  It would be an astronomical loss.”

Tesla provided a contrasting statement to Value Walk earlier this year, including a point that non-GAAP revenue is “useful in understanding the underlying cash flow activity and timing of vehicle deliveries.”

But Stack added, “Even though they continue to miss operating targets, they continue to lose money, they are still attracting capital.  And that’s commonly a feature of questionable of financial business models.”

Losses

Stack suggested that Tesla operates like a technology startup, but that as a vehicle producer, this model doesn’t make sense:

“We tolerate social security. Social security as a system continues to be a loss. In a social media environment, for a venture-backed startup, we tolerate loss.

For a 10-year-old publicly traded company manufacturing cars, it’s not clear to me that the markets continue to tolerate that loss.  The question on the equity side is when will anybody get a deal out of that? When will that ever turn around?  When do people start to get their money back?”

Not so disruptive after all?

Stack argued that Tesla’s approach to the electric vehicle sector is the “typical business model for a web startup company in San Francisco … a storyline of disruption,” but that this doesn’t work so well when it comes to the auto industry, where there is more intense competition. He explained:

“That kind of logic we tolerate on software side, because there is such rapid disruptive potential. In the auto world, you have competitors. And you have competitors that are geared to fight back. So, what we believe, and we see this even today, is that the established auto industry in Germany, China, Japan, and North America has a competitive response and it’s pricing aggressively.”

Devonshire has only written one other report for public release in which it recommended shorting GoPro (NASDAQ:GPRO). By December 2015, after shares of GoPro had fallen roughly 60 percent, Devonshire was recommending that short positions be covered, with no further recommendation on the company.

Of course, since Devonshire holds a short position in Tesla, its views are not exactly unbiased. Still, it is interesting to see an alternate point of view on the electric vehicle maker.

Tesla and lithium

As a final note, Stack shared some of his thoughts regarding Tesla’s impact on the lithium industry. He agreed that it isn’t all about Tesla when it comes to lithium, and that the company only accounts for a fraction of demand for the mineral.

Because of that, he admitted that Tesla won’t have much leverage when it comes to pushing for lower lithium prices. As lithium prices continue to rise, he predicted that lithium suppliers would take their product elsewhere.

“Why would you go under contract with Tesla today if you saw the world exploding around you and Tesla was asking to fix the price lower and lower?”

In terms of lithium stocks, Stack sees plenty of potential for opportunity. He stated:

“Some of the greatest fortunes in North American history have taken place from the smart, clever commodity suppliers—the equipment suppliers to oil and gas, and the transportation and equipment suppliers for the gold rush.

We are in the EV rush. Lithium mining stands to create some of the greatest fortunes, certainly in this modern era, not necessarily the branded company that  is providing those cars.”

Don’t forget to follow us @INN_Resource for real-time news updates!

Securities Disclosure: I, Teresa Matich, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.

As mentioned in the article, Devonshire holds a net short position in Tesla. For more information, visit Devonshire’s website here.

 

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Kivalliq Energy Corporation (TSXV:KIV) announced the closing of the previously announced, non-brokered private placement financing to raise gross proceeds of CDN$400,000, to fund mineral exploration at Kivalliq’s wholly-owned properties in Canada.

Kivalliq will use the net proceeds of the Offering for eligible exploration expenditures, which will constitute “Canadian Exploration Expenses” that are “Flow-Through mining expenditures,” as defined in the Income Tax Act which can be renounced to purchasers of the FT Shares for the 2016 taxation year in the aggregate amount of not less than the total amount of the gross proceeds raised from the Offering.

Kivalliq Energy Corporation (TSXV:KIV) to receive an Investor Presentation.

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Houston Lake Mining Inc. (TSXV:HLM) announced that it has changed its name to Frontier Lithium Inc. and that its outstanding common shares will trade under the stock symbol “FL.” Subject to TSX Venture Exchange approval, it is expected that the common shares of the corporation will commence trading as of market open on July 11, 2016.

Re-branding reflects the evolution of the Company since the discovery drill-hole of the PAK lithium deposit located in Ontario in the winter of 2013 and disposition of unrelated assets.

Connect with Frontier Lithium (TSXV:FL) to receive an Investor Presentation.

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Avalon Advanced Materials Inc. (TSX:AVL,OTCQX:AVLNF) (formerly Avalon Rare Metals Inc.) announced a report on its recent participation in the 29th Electric Vehicle Symposium and Exhibition (“EVS29”) held in Montreal, June 19 to 22, 2016: the largest electric vehicle conference in the world, with over 2,500 attendees and 150 exhibiting companies. Avalon was invited to participate as an exhibitor within the Ontario Pavilion, sponsored by the Government of Ontario.

As quoted in the press release:

There were many representatives of government in attendance, including the Premier of Quebec, Philippe Couillard; the Parliamentary Secretary to the Minister of Natural Resources, Kim Rudd; and the Minister of Environment and Climate Change for Ontario, Glen Murray. All spoke of the high priority their governments have given to EV adoption through policy and investment commitments.

Automakers seem to be moving rapidly toward EV adoption regardless of government policy initiatives, as rapid advances in lithium ion battery technology are now making EVs both practical and affordable. Most recently, Volkswagen announced their plans to produce 2-3 million EVs annually by 2025 and to manufacture the batteries needed for these vehicles. A recent report by Japanese research firm B3 predicts that the worldwide EV battery market is expected to grow by 66.8% in 2016, and a further 57% in 2017, from a production level of 550,297 vehicles in 2015.

There is little doubt that these very high EV production growth rates will require new secure, sustainable and high quality sources of lithium compounds. Avalon is well-positioned with its advanced Separation Rapids Lithium Project to participate in the rapidly growing lithium ion battery supply chain.

Connect with Avalon Advanced Materials Inc. (TSX:AVL,OTCQX:AVLNF) to receive an Investor Presentation.

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Bacanora Minerals (TSXV:BCN) has provided an update on activities being undertaken as part of its definitive feasibility study for the Sonora lithium project.

As quoted in the press release:

The FS is focussed on at delivering the most economically robust development strategy for an initial 17,500 tonne per annum (“tpa”) of lithium carbonate production at the Project (subsequently increasing to 35,000 tpa in later years). The Company’s strategy is to position itself to satisfy ongoing strong growth for lithium carbonate in the fast growing sectors of electric vehicles and energy storage. The FS is targeted for completion in Q1, 2017 and the Company is fully financed through to the initial project development and the start of the construction stages.

Overview

• The process engineering for the FS has been awarded to Ausenco Engineers. SRK Consulting (UK) Ltd. (“SRK”) will undertake the Mineral Resource Estimate (“MRE”) and International Mining Consultants will carry out the reserve estimate and mine planning. Other specialised consulting groups will be appointed for additional sections of the FS.
• The Company’s 3,000 metre infill drilling program is progressing well, with a target of upgrading a portion of the current Mineral Resource from the Indicated to Measured category:
  • Indicated portion of the Resource is currently comprised of 259 Mt averaging 3,200 ppm Li for 4.5 Mt of lithium carbonate equivalent (“LCE(2)”).
  • A total of 2,039 metres have been drilled to date across 20 in-fill holes on the La Ventana concession – a further 11 holes remain to be drilled.
  • Intercepts of the upper clay range from 14.1 to 40.9 m in thickness with an average thickness of 30.3 m and those for the lower clay range from 10.4 to 25.6 m with an average thickness of 19.8 m, these intercepts are consistent with the average thickness of the deposit.
  • Assay results are expected to be reported in August.
• Continued expansion of the pilot plant capacity and metallurgical test work is ongoing:
  • Initial focus on producing battery-grade lithium carbonate samples for delivery to off-takers in Asia and Europe during Q3, 2016.
  • Continuing flow sheet development and optimisation of lithium recoveries and reagent consumption.
  • On-going upgrades and optimisation of the pilot plant to ensure semi-continuous operations and continued lithium carbonate production.
• Recruitment and training:
  • Over 30 professional and operational personnel are now working at the pilot plant in Hermosillo.
  • Training and quality control processes are in full swing to negate risk associated with execution of commissioning and operational phases and to ensure excellence in terms of operations and quality control.
  • Additional operations and technical personnel will continue to be employed at the pilot plant as sample production continues to ramp up.

Click here for the full press release.

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Dajin Resources Corp. (TSXV:DJI,OTCMKTS:DJIFF) announced that it has completed a high resolution seismic survey at its 100% owned Teels Marsh Lithium brine project located in Mineral County, Nevada.

As quoted in the press release:

Eagle Exploration Inc. (based in Michigan), recently completed a 12 mile (19 km) seismic survey on the Teels Marsh. Mr. Jerry Schwinkendorf, of Columbia Geophysical, LLC (based in Colorado) is processing the seismic data. Initial review of the data appears encouraging and upon receipt of the final results, Dajin will be able to determine the locations and depths of the target wells to be drilled later this fall. This high resolution survey data will also assist in the defining of any inferred resources estimate that may be calculated following drilling.

An earlier gravity survey and structural analysis suggests that the playa may be well over 6,500 feet (2,000 metres) deep. In addition, thick accumulations of volcanic ash deposits from Long Valley Caldera (called the Bishop Tuff) are likely to be found in the closed basin due to the size (812 km2 ) of the catchment area. These ash layers have proven to be productive brine sources in Clayton Valley, which holds the only producing Lithium brine mine in North America, Rockwood Lithium Inc.

Connect with Dajin Resources Corp. (TSXV:DJI,OTCMKTS:DJIFF) to receive an Investor Presentation.

 

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Anfield Resources Inc. (TSXV:ARY,OTCQB:ANLDF) announced that it submitted a plan to the Utah Division of Waste Management and Radiation Control on June 30, 2016 to transition the Shootaring Canyon uranium mill located in Garfield County, Utah, from standby to operational status with its application to renew its license for the Shootaring Mill.

Anfield Resources CEO, Corey Dias, stated:

We have taken a significant step forward by providing a plan to the UDWMRC to transition the Mill to operational status through the submission of our application for the renewal of the Shootaring Mill license. This, when combined with our recent positive preliminary economic assessment with regard to the Velvet-Wood uranium mine, signals our confidence in the renaissance of the uranium mining industry. We remain confident that uranium will continue to play a significant role in the energy sector both today and into the future.  We are committed to becoming a leading uranium producer in the largest nuclear power generating market in the world.

Connect with Anfield Resources Inc. (TSXV:ARY,OTCQB:ANLDF) to receive an Investor Presentation.

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Nemaska Lithium Inc. (TSXV:NMX,OTCQX:NMKEF) announced shares and warrants will begin trading on the Toronto Stock Exchange at the open on July 8, 2016, according to the TSX. The TSX reports that Nemaska is a mining, non-exempt issuer developing spodumene lithium hard-rock deposits in Quebec. It has also developed its own patented proprietary electrolysis technology to produce lithium hydroxide and lithium carbonate from spodumene concentrate.

According to the TSX, the shares will trade under the symbol NMX and Cusip No. 64045C 10 6, and there will be 312,433,855 shares outstanding and 84,481,507 shares reserved for issuance.

Connect with Nemaska Lithium Inc. (TSXV:NMX,OTCQX:NMKEF) to receive an Investor Presentation.

 

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Macarthur Minerals (TSXV:MMS) announced that the Company has agreed to expand the recently announced1 Memorandum of Understanding with Venturex Resources Limited (ASX:VXR)  to include the lithium rights on VXR’s Whim Creek Project, in addition to VXR’s Sulphur Springs Project. VXR has applied for a new exploration licence adjacent to the Sulphur Springs Project which has also been included in the scope of the MOU.

As quoted in the press release:

Whim Creek

Whim Creek covers approximately 124 square kilometres (30,641 acres) of Mining Leases, Exploration Licences and Miscellaneous Licenses (see Figure 1). The Whim Creek project area covers the Archaean Whim Creek Greenstone Belt within the North Pilbara region, consisting of heavily faulted North-East trending volcanic and sedimentary rocks wrapped around earlier granitoid batholiths. The acreage covers an area of potential host rock sequences (‘greenstone belts’) for Lithium-Caesium-Tantalum (“LCT”) class of pegmatites and are located within 5–10km of the Caines Monzogranite which may be the magmatic source for LCT pegmatites.

Sulphur Springs

Sulphur Springs covers approximately 118 square kilometres (29,158 acres) of Mining Leases, Exploration Licences applications and Miscellaneous Licenses for haul road access into the project area. Sulphur Springs covers a northeast-southwest trending faulted geological contact between mafic rocks and folded sediments where the Archean greenstones and volcaniclastic rocks are folded around the intrusive Strelley Granite batholith. The acreage covers an area of potential host rock sequences (‘greenstone belts’) for LCT class of pegmatites and is located within 5–10km of a monzogranite intrusion (Strelley batholith), which may be the magmatic source for LCT pegmatites.

Whim Creek and Sulphur Springs Strategy

The majority of the acreage is comprised of granted Mining Leases M45/653, M45/494, M45/587, M45/1001, M 47/236, M 47/443, M 47/238, M47/323 and M47/324 which will allow for drilling and exploration activities for lithium to be fast-tracked, once the area is confirmed to be prospective for lithium. VXR has conducted reverse circulation (RC) drilling for zinc-copper across the Sulphur Springs acreage, which has generated a geochemical database and the opportunity to resample existing drill spoil and RC drill chips for lithium or lithium pathfinder elements.

Connect with Macarthur Minerals (TSXV:MMS) to receive an Investor Presentation. 

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Ashburton Ventures Inc. (TSXV:ABR) announced it has commenced phase 2 of the exploration program on its Whabouchi South lithium project directly adjacent and on strike with the Nemaska Lithium Whabouchi deposit.  The program will consist of geochemical sampling as well as detailed mapping to follow up on the first phase geophysical program.

As quoted in the press release:

Phase 2 will entail mapping and sampling of the property, with a emphasis on the NW corner of the claims which appears to be on strike with the Nemaska Lithium Deposit and is most likely to reveal Li-rich pegmatites.

The Whabouchi South property adjacent to Nemaska Lithium Inc.’s Whabouchi project is also on geological strike with Nemaska’s Whabouchi mine, the viability of which was supported in Nemaska Lithium’s feasibility report released on April 4, 2016. Ashburton property is less than 1.2 kilometre south of Nemaska’s planned mine site, shown to hold the world’s second-largest and second-richest deposit of spodumene — the source of lithium — in the world, with 27 million tonnes of proven and probable resources, with an estimated mine lifespan of 26 years.

The Whabouchi South property bordering Nemaska Lithium Inc.’s Whabouchi project is also on geological strike with Nemaska’s Whabouchi mine, the viability of which was supported in Nemaska Lithium’s feasibility report released April 4, 2016. The property is less than 1.2 kilometres south of Nemaska’s planned mine site, shown to hold the world’s second-largest and second-richest deposit of spodumene — the source of lithium — in the world, with 27 million tonnes of proven and probable resources, with an estimated mine lifespan of 26 years.

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For more information please contact:

Loong Yip Juy (Vincent)
President
Tel: 1-604-716-6049
Email Vincent.aepp@gmail.com

Or

Nigel Bosworth
President
Point Source Processing Inc.
Tel: 1-250-885-0545
Email: nigel.psp@gmail.com
AEPP Website: www.aeppinc.com

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Critical Elements (TSXV:CRE,OTCQX:CRECF,FWB:F12) announced they have entered into an option agreement that gives Natan the right to acquire up to a 70% interest in the Duval project, located south-west of and contiguous to the Nemaska Lithium Whabouchi Deposit.

As quoted in the press release:

The Duval property is comprised of two blocks totaling 46 claims, with a total area of 2,458.92 hectares covering a distance of approximately 7 kilometres along a SW-NE axis. It lies two kilometres south of the Route du Nord and is served by a Hydro Quebec power line and a gravel road, which cross the southern half of the block in a southeasterly direction. The Duval main block can be accessed by the road leading to Lac des Montagnes and then by boat. An old winter road along the SE shore of Lac des Montagnes has been refurbished and can be used for winter drilling on the main block.

The property covers a large part of the regional volcano-metasedimentary unit, known to be the host for Nemaska Lithium’s Wabouchi deposit and the Lemarre showings. The presence of this favorable lithology within the Company”s claims and being along strike from Nemaska”s successful exploration, increases the potential for the discovery of similar significant mineralization.

Critical Elements President and CEO, Jean-Sébastien Lavallée, stated:

This option agreement with Natan will allow the Duval property to be explored in detail for a Lithium Pegmatite discovery. Critical Elements is currently focused on the development of its Rose lithium-Tantalum project. With Natan farming into the Duval project, shareholders of both companies will be able to benefit from successful exploration of a highly prospective project.

Connect with Critical Elements (TSXV:CRE,OTCQX:CRECF,FWB:F12) to receive an Investor Presentation.

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Alix Resources Corp (TSXV:AIX) announced that the first phase of the mapping and sampling program has been completed on select areas of the newly acquired portfolio of lithium properties in the Preissac-Lacorne plutonic complex of the Abitibi Greenstone Belt, in the province of Quebec. A total of 12 spodumene-bearing samples were taken from various locations and submitted to ALS Chemex for assay. Alix Resources claims are located near the past producing Quebec Lithium Mine which was recently purchased by the Chinese based Jilin Jien Nickel Industry Co.

Alix Resources President and CEO, Mike England, stated:

I am excited to see a producer coming back to this region. Jilin’s acquisition of the Quebec Lithium Mine assets will likely cause increased exploration activity in the area. Alix was there before this acquisition and I believe has secured the best ground in the region for lithium exploration and discovery. I am looking forward to report the results of our assay program and to further explore the lithium potential of our Preissac-Lacorne lithium properties.

Connect with Alix Resources Corp (TSXV:AIX) to receive an Investor Presentation.

The post Alix Completes Sampling Program on Newly Acquired Lithium Projects in the Preissac-Lacorne Complex, Quebec appeared first on Investing News Network.

American Manganese Inc. (TSXV:AMY; PINKS:AMYZF;FRANK:2AM) announced that Kemetco Research Inc. has begun “proof of concept” testing of the Company’s proprietary hydrometallurgical process for the recycling of cathode materials, specifically lithium – cobalt, the battery chemistry currently used by Tesla for the Model S.

American Manganese President and CEO, Larry Reaugh, stated:

The opportunity here is to capitalize on not only the initial orders but also the on-going future orders using a new clean technology to treat this waste (the spent batteries) as a renewable resource. AMY’s process, once proven, will be more economical and environmentally friendly than opening new mines and treating mined ores that contain a fraction of a percent of the target minerals. In addition to the on-going “proof of concept” testing, the Company is developing new technology and know-how for this application from its existing patented and proprietary intellectual property.

Kemetco Research President, Norman Chow, stated:

There are approximately 400,000 vehicles on the Tesla Model 3 waiting list. Each vehicle will have a 60 kWh battery pack, so approximately 24,000,000 kWh (24 GWh) will be required to power these 400,000 vehicles.

One kilogram of lithium cobalt oxide cathode material holds 0.588 kWh. As such, about 40,816,327 kg of cathode materials will be required to meet this initial 24 GWh demand. Eventually all these batteries will reach their end of life, creating an enormous disposal problem and an incredible opportunity for AMY.

Connect with American Manganese Inc. (TSXV:AMY; PINKS:AMYZF;FRANK:2AM) to receive an Investor Presentation.

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Lithium Australia NL (ASX:LIT) announced the expansion Greenbushes interests.

As quoted in the press release:

HIGHLIGHTS

• Lithium Australia expands holding adjacent to the world’s largest lithium mine
• Granted tenure abuts the producing Talison Lithium
• The exploration licence granted in April 2016 is augmented by a further 3 licences
• Licences granted in July 2016 now

Greenbushes hosts the world’s largest lithium mine which currently produces about 40% of global lithium supply from pegmatites, mined approximately 200km south of Perth, in Western Australia. The area hosts abundant pegmatites the emplacement of which appears to be structurally controlled. A number of major structural features occur within the area, including the Donnybrook – Bridgetown Shear within which the Greenbushes pegmatite is located. Numerous subsidiary structures have been identified in the area, some of which are also associated with the emplacement of pegmatites.

Initial phases of exploration (already commenced) will employ non-invasive technologies to model the chemical evolution of the intrusive rocks forming part of the pegmatite complex. Lithium Australia is a leader in the development and implementation of such technologies, which have been very effective in detecting lithium pegmatites below cover within other Lithium Australia projects. The geochemical profiles will also help delineate the more prospective structural trends for further examination.

Lithium Australia Managing Director, Adrian Griffin, stated:

The grant of the three new licences will enable Lithium Australia to gain a much more complete picture of the geological systems that have created the world’s largest known lithium pegmatite. The potential of the area is outstanding and we will use our experience to evaluate that potential in an effort to unlock the latent value of the area.

Connect with Lithium Australia NL (ASX:LIT) to receive an Investor Presentation.

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Georox Resources (TSXV:GXR) has announced the closing of the second tranche of its previously announced non-brokered private placement of up to 11,666,67 units at $0.06 per unit with each unit consisting of one common share in the capital of the corporation and one common share purchase warrant.

As quoted in the press release:

Each warrant will entitle the holder to acquire one (1) Common Share at a price of $0.12 for a period to and including April 30, 2018. A total of 3,431,666 Units were issued in this second tranche for aggregate gross proceeds of approximately $205,900. The securities issued pursuant to the Private Placement are subject to a four-month hold period. The aggregate number of Units issued in the first and second tranches of the Private Placement are 6,598,333 Units for gross proceeds of $401,900.

The Corporation anticipates a further closing of this Private Placement in the next several weeks. The TSX Venture Exchange has approved an extension of the deadline to complete the Private Placement to August 4, 2016.

The Private Placement proceeds will be used for current general payables, general corporate purposes and expenditures related to the optimization of production in its Red Earth property. The closing of the Private Placement is subject to any and all required regulatory approvals, including approval of the TSX Venture Exchange.

Click here to read the full press release.

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Evolving Gold (CSNX:EVG) (OTCB:EVOGF) announced that it has increased its land position by staking 31 claims directly NE of the 100% owned Lithium Lakes Property recently acquired by the Company. The new claims add an area of 16.49 km² to the Lithium Lakes Property, which now has a total area of 72.5 km².

As quoted in the press release:

The new claims cover the potential bedrock sources for three lake sediment anomalies that indicate the possible presence of lithium bearing pegmatites glacially up ice from the anomalies. One lake sediment sample is anomalous in uranium, another is anomalous in tungsten, and the most interesting anomaly is anomalous in lithium, rubidium, titanium and zirconium. The potential sources for the metallic anomalies correlate well with magnetic anomalies derived from historical surveys and topographic features.

The new claims add an additional 3 high priority targets to the total of 8 high priority targets already identified on the original Lithium Lakes Property. The original 8 targets were up to 3.5km long and were selected based on a geological interpretation of historical magnetic, spectrometric and geochemical surveys and their association with topographic features.

Evolving Gold CEO, Bruce Duncan, stated:

This new acquisition quickly increases the number of prospective targets at the Lithium Lakes Property. All of the high priority anomalies are going to be visited by our field crew in the next couple of weeks, and any discoveries will be sampled extensively, and interpreted quickly.

The post Evolving Gold Begins Field Exploration And Expands Its Lithium Lakes Project Land Package appeared first on Investing News Network.

Forum Uranium Corp. (TSXV:FDC) announced that Uracan Resources Ltd. has informed Forum that it has accepted Forum’s exploration proposal at the Clearwater project adjoining Fission’s claims along the southwest extension of the Patterson Lake Corridor, host to Fission Uranium Corp.’s Triple R deposit and NexGen Energy Ltd.’s Arrow deposit in the western Athabasca Basin.

Forum has commenced the permitting process and contracting of services for ground gravity and electromagnetic surveys and diamond drilling. Forum plans to extend existing geophysical surveys further to the southwest in August and commence diamond drilling of existing targets and newly identified targets in September.

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