Maclean’s just published the Top 10 EV Entrepreneurs of 2023 list, which includes individuals who will be critical in assisting Canada in meeting its ambitious electric vehicle (EV) targets.
The list is full of EV industry heavy hitters, starting with Marissa West, President and Managing Director of General Motors Canada in the top spot due to her role in helping the EV revolution on an industrial scale.
The list also includes a handful of mining company leaders such as Magna International CEO Swamy Kotagiri, who was ranked second for leading an old-school company into an electric future and Guy Belleau, CEO of Sayona Mining Limited, who earned the third spot for spearheading a lithium empire.
Chris Doornbos, President and CEO of Calgary-based lithium developer E3 Lithium (TSXV:ETL) (OTCQX:EEMMF), also made the Top 10 list for digging up Alberta’s next big resource. According to Macleans, Doornbos has the potential to become Alberta’s first lithium baron as a result of E3‘s work in the Bashaw District in Alberta.
Although the company’s path to commercialization still requires a few steps, the payoff could be significant once it reaches commercial production, according to the article. Starting in 2026, the Clearwater project has the potential to produce 20,000 tonnes of lithium per year, enough for 300,000 Teslas, and could be worth $1.1 billion over the next 20 years.
Alberta has considerable lithium resources and is set to compete in the global lithium market, which is expected to triple in size by 2025.
Tapping Alberta’s Massive Lithium Potential
E3 Lithium (TSXV:ETL) (OTXQC:EEMMF) recently outlined its goals and strategic vision for 2023, starting with a Measured and Indicated (M&I) resource upgrade to increase the confidence and understanding of its lithium-in-brine resource. Following the resource upgrade, the company will focus on completing a Pre-Feasibility Study (PFS) by the end of 2023 to outline the detailed plans for its first commercial facility and one of the first global reserves for a DLE resource.
Upon the successful completion of the PFS, E3 Lithium plans to complete a Feasibility Study (FS), receive regulatory permissions, and deliver a project finance arrangement to allow the construction of its first commercial facility in Alberta.
The company’s Clearwater Lithium Project has an NPV 8% of US$1.1 billion with a 32% pre-tax IRR and US$820 million with a 27% IRR after taxes, according to its Preliminary Economic Assessment (PEA).
E3 Lithium has also been concentrating on the development of its Lithium Ion-Exchange (Li-IX) pilot plant in the Clearwater Project Area, which is now scheduled to complete construction and operation in Q3 2023. The pilot plant’s next phases include obtaining clearance from the Alberta Energy Regulator, finalizing specific design and engineering plans, publishing key performance indicators (KPIs) for predicted performance, and beginning on-site equipment commissioning.
E3 Lithium is hopeful about lowering the project development timetable and accomplishing its target of launching a commercial facility by 2026 by conducting proactive exploration of commercially available and low-risk process and design choices.
The company is also well-funded to meet its objectives, having received C$3.545 million from the Government of Canada’s Critical Minerals Research, Development, and Demonstration (CMRDD) program and $4.9 million from warrants exercised in financings that closed in December 2020 and February 2021.
For more information about E3 Lithium Ltd (TSXV:ETL) (OTCQX:EEMMF), please visit this link or their website at e3lithium.ca.
Featured Image @ Depositphotos
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1) The author of the Article, or members of the author’s immediate household or family, do not own any securities of the companies set forth in this Article. The author determined which companies would be included in this article based on research and understanding of the sector.
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6) This document contains forward-looking information and forward-looking statements, within the meaning of applicable Canadian securities legislation, (collectively, “forward-looking statements”), which reflect management’s expectations regarding E3 Lithium Ltd.’s future growth, future business plans and opportunities, expected activities, and other statements about future events, results or performance. Wherever possible, words such as “predicts”, “projects”, “targets”, “plans”, “expects”, “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “anticipate” or “does not anticipate”, “believe”, “intend” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative or grammatical variation thereof or other variations thereof, or comparable terminology have been used to identify forward-looking statements. These forward-looking statements include, among other things, statements relating to: (a) revenue generating potential with respect to E3 Lithium Ltd.’s industry; (b) market opportunity; (c) E3 Lithium Ltd.’s business plans and strategies; (d) services that E3 Lithium Ltd. intends to offer; (e) E3 Lithium Ltd.’s milestone projections and targets; (f) E3 Lithium Ltd.’s expectations regarding receipt of approval for regulatory applications; (g) E3 Lithium Ltd.’s intentions to expand into other jurisdictions including the timeline expectations relating to those expansion plans; and (h) E3 Lithium Ltd.’s expectations with regarding its ability to deliver shareholder value. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this document including, without limitation, assumptions about: (a) the ability to raise any necessary additional capital on reasonable terms to execute E3 Lithium Ltd.’s business plan; (b) that general business and economic conditions will not change in a material adverse manner; (c) E3 Lithium Ltd.’s ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; (d) E3 Lithium Ltd.’s ability to enter into contractual arrangements with additional Pharmacies; (e) the accuracy of budgeted costs and expenditures; (f) E3 Lithium Ltd.’s ability to attract and retain skilled personnel; (g) political and regulatory stability; (h) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (i) changes in applicable legislation; (j) stability in financial and capital markets; and (k) expectations regarding the level of disruption to as a result of CV-19. Such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of E3 Lithium Ltd. to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: (a) E3 Lithium Ltd.’s operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations; (b) public health crises such as CV-19 may adversely impact E3 Lithium Ltd.’s business; (c) the volatility of global capital markets; (d) political instability and changes to the regulations governing E3 Lithium Ltd.’s business operations (e) E3 Lithium Ltd. may be unable to implement its growth strategy; and (f) increased competition.
Except as required by law, E3 Lithium Ltd. undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither does E3 Lithium Ltd. nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this document. Neither E3 Lithium Ltd. nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this document by you or any of your representatives or for omissions from the information in this document.
7) Any graphs, tables or other information demonstrating the historical performance or current or historical attributes of E3 Lithium Ltd. or any other entity contained in this document are intended only to illustrate historical performance or current or historical attributes of E3 Lithium Ltd. or such entities and are not necessarily indicative of future performance of E3 Lithium Ltd. or such entities.
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