Palm Beach, FL – May 2, 2023 – FinancialNewsMedia.com News Commentary – Lithium-ion batteries are currently the dominant technology for energy storage and the market is projected to continue to grow over the next several years. A report from Fact.MR said that Some of the current trends in the lithium mining market include: ”With the growing demand for lithium, there is increasing investment in expanding production capacity. This includes investment in new mines, as well as the expansion of existing mines. Some companies are pursuing vertical integration strategies, where they control the entire supply chain from mining to battery production. This can help to ensure a secure supply of high-quality lithium and reduce supply chain risks. As technology improves, the efficiency of lithium mining is expected to increase, leading to lower costs and higher yields. There is also research being done into new methods of lithium extraction, such as using geothermal brines or extracting lithium from seawater. With the increasing use of lithium-ion batteries, there is also a growing need for battery recycling. Some companies are investing in recycling technologies that can recover lithium and other valuable metals from spent batteries. With growing concerns about the environmental impact of lithium mining, some companies are adopting more sustainable practices, such as using renewable energy to power their operations and minimizing water usage.” Active mining companies in the markets this week include: Indigo Exploration Inc. (OTCQB: IXIXF) (TSX-V: IXI), Tesla, Inc. (NASDAQ: TSLA), Lithium Americas Corp. (NYSE: LAC) (TSX: LAC), E3 LITHIUM LTD. (OTCQX: EEMMF) (TSX-V: ETL), Patriot Battery Metals Inc. (OTCQX: PMETF) (TSX-V: PMET).
Fact.MR concluded: “The lithium mining market is relatively concentrated, with a few major players dominating the industry. Furthermore, there is competition among the various types of lithium deposits, including brine and hard rock sources.”
Indigo Exploration Inc. (OTCQB: IXIXF) (TSX-V: IXI) BREAKING NEWS: Indigo Exploration Strengthens Board of Directors for its Alberta Lithium Brines Projects – Indigo Exploration Inc. (the “Company”) is pleased to announce the appointment of D.T. Brian Doherty, an Alberta-based highly accomplished senior petroleum geologist with over 40 years of experience to the Company’s Board of Directors. Mr. Doherty has numerous roles over his career ranging from technical to executive and leadership. He is extremely knowledgeable in all aspects of the oil and gas industry including geophysics, reservoir and production engineering, economic risk evaluation, infrastructure, and the regulatory environment.
“The addition of Mr. Doherty demonstrates the Company’s commitment to adding significant depth and experience not only within the Management team but also our Board. Brian brings a broad skillset and network that leverages his extensive oil and gas experience in Alberta that will be instrumental in the development of our lithium brine projects” commented CEO, Paul Cowley. “We are very pleased to have Mr. Doherty, a respected and successful senior-level geoscientist and entrepreneur, join our board as he brings decades of Alberta-based technical, business, managerial insight and judgment to the team.”
Over his 40-year career, Mr. Doherty has developed extensive operational experience in executing annual operating and development budgets in excess of $100 million which included the drilling of several hundred wells annually. His success rate within the Western Basin on a year-on-year basis averages a 38 % growth rate from deep to shallow including Devonian, Mississippian, Triassic, Jurassic and Cretaceous targets and from a variety of lithologies and traps. Mr. Doherty has held positions at Alberta Energy Company, Canadian Superior, Gulf Canada, Shell and Apache. Later Mr. Doherty and partners founded three junior oil ventures, including Signal Resources and then undertook a position with Prime West Trust as Southern Business Unit Manager. This last position managed over 17,000 barrels of oil per day and a staff of 30 professionals.
Mr. Doherty replaces Mr. Thomas Henricksen, who has stepped down from the Board of Directors after serving for 10 years. The Company would like to thank Mr. Henricksen for his contributions to Indigo and its transition to a lithium exploration and development company. CONTINUED… Read this and more news for Indigo Exploration at: https://www.indigoexploration.com/news/news-2023
In other market news of interest:
Tesla, Inc. (NASDAQ: TSLA) in the first quarter, produced over 440,000 vehicles and delivered over 422,000 vehicles. TSLA continued to transition towards a more even regional mix of vehicle builds, including Model S/X vehicles in transit to EMEA and APAC.
Lithium Americas Corp. (NYSE: LAC) (TSX: LAC) and Arena Minerals Inc. (“Arena”) recently announced the completion of the previously announced plan of arrangement (the “Arrangement”) whereby Lithium Americas has acquired all of the issued and outstanding common shares of Arena. Arena owns 65% of the Sal de la Puna project covering approximately 13,200 hectares of the Pastos Grandes basin located in Salta, Argentina.
“With the completion of the acquisition, we have taken a big step towards consolidating the Pastos Grandes basin,” said John Kanellitsas, Vice Chairman of Lithium Americas. “While our focus remains on near-term startup of production at Caucharí-Olaroz, the addition of Arena provides increased flexibility as we continue to advance our growth plans in Argentina.”
E3 LITHIUM LTD. (OTCQX: EEMMF) (TSX-V: ETL) Alberta’s leading lithium developer and extraction technology innovator, recently confirmed the filing of its Annual Information Form (“AIF”) for the year ended December 31, 2022 on the System for Electronic Analysis and retrieval (“SEDAR”). An electronic copy of the AIF may be obtained on the Company’s website at www.e3lithium.ca or on the Company’s SEDAR profile at www.sedar.com.
Additionally, the Company has granted incentive stock options (“the options”) to purchase a total of 225,000 common shares to Kevin Carroll, Chief Development Officer of the Company, in accordance with the provisions of its stock option plan. The options have an exercise price of $2.59per share which was the close price on April 10, 2023. The options vest 25% each year over a period of four years with a five-year expiry date.
Patriot Battery Metals Inc. (OTCQX: PMETF) (TSX-V: PMET) recently announced, that subject to regulatory approval, it has retained the services of Venture Liquidity Providers Inc. (“VLP”) to initiate its market-making services to provide assistance in maintaining an orderly trading market for the common shares of the Company, and Oakstrom Advisors (“Oakstrom”) to provide investor relations and strategic communications services to the Company.
The market-making service will be undertaken by VLP through a registered broker, W.D. Latimer Co. Ltd. (“W.D. Latimer”), in compliance with the applicable policies of the TSX Venture Exchange and other applicable laws, on an ongoing basis. The agreement with VLP may be terminated at any time by the Company or VLP. The Company and VLP act at arm’s length, and VLP has no present interest, directly or indirectly, in the Company or its securities. The finances and the common shares required for the market-making services are provided by W.D. Latimer. The fees paid by the Company to VLP are for market-making services only.
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