Book Online or Call 1-855-SAUSALITO

Sign In  |  Register  |  About Sausalito  |  Contact Us

Sausalito, CA
September 01, 2020 1:41pm
7-Day Forecast | Traffic
  • Search Hotels in Sausalito

  • CHECK-IN:
  • CHECK-OUT:
  • ROOMS:

SPEYF announces successful production of lithium carbonate from lithium chloride extracted from the Company’s brines

According to a recent article from Barrons, Benchmark lithium prices are up about 200% over the past 12 months and up roughly 12-fold compared with late 2020. Electric vehicles are the reason for the increases - demand of lithium-ion batteries that power EVs has nearly tripled since 2020. Demand is expected to double again between 2022 and 2024.

The Barrons article further states that the supply is scrambling to catch up will all that demand. The supply and demand change make calling long-term lithium prices difficult. Ultimately, commodities tend to move toward the marginal cost of production. Where on the globe that marginal—higher cost—lithium comes from, what the cost of production looks like, and when things normalize, however, is anyone’s guess.

One lithium mining company that we would like to draw your attention to is Spey Resources Corp. (CSE: SPEY) (OTC: SPEYF) (FRA: 2JS).

On October 28th, SPEYF announced that the Chemical Engineering Department at the University of Melbourne, Australia has successfully produced lithium carbonate from lithium chloride extracted from the Company’s brines in Incahuasi Salar at the Candela II Project using the Ekosolve™ process. Spey has acquired the first Ekosolve production licence, which prioritizes the Company to be the first client to commission Ekosolve to complete the construction proposal, preliminary and plant engineering and manufacturing of the plant at Incahuasi. EkoSolve has issued seven other licences to date and will progressively commence engineering after Spey engineering is completed.

As per the press release, Phil Thomas, CEO of the Company, said “we are delighted to achieve these results. This not only proves the validity of the Ekosolve™ process for Incahuasi brines, but also the fast-processing time using columns. Ekosolve Ltd. is planning to build a 100 tonne mini plant in Salta and the Company is in active discussions with Ekosolve Ltd. regarding a potential joint venture opportunity.”

Is it time to buy the dip in SPEYF?

Let’s take a look at the 3-month chart on SPEYF. The stock prices have surged from 0.04-0.06 cents to all the way just shy of 30 cents suggesting increase interest from traders and investors in the company. SPEYF is currently trading at 17 cents and with all the recent development taking place at the company, SPEYF could pick up more steam. 

 

Some of the recent press released by the company that we would like to draw your attention to are a) Commencement of the initial exploration on the Company’s four lithium projects located in the James Bay region of Quebec b) Approval of Company’s drill permits for Pocitos Salar projects 1 and 2 by the Ministerio de Produccion y Desarrollo Sustentable‎ (Minister of Production and Sustainable Development). As mentioned in the Company’s press release dated October 6, 2022, the drill camp, internet, diesel tanks and geological offices have been constructed in the town of Pocitos.

In addition, SPEYF recently also announced the completion of the acquisition of 100% of the issued and outstanding share capital of Lithium Energy Metal Corporation from all of the former shareholders of LEM.

While Tesla sources the vast majority of its battery cells from suppliers, it actually sources a large part of the materials used to build those batteries directly from mines. There seems to be little to no doubt that lithium mining companies could take centerstage as demand for EV’s surge.

Other companies in Tesla’s space includes: XPeng (NYSE:XPEV), Phoenix Motor (NASDAQ:PEV), Fisker (NYSE:FSR), General Motors (NYSE:GM) and Ford Motor (NYSE:F).

Start your due diligence now on Spey Resources Corp. (CSE: SPEY) (OTC: SPEYF) (FRA: 2JS) and as always follow traders vigilance. 

 

References:

https://www.barrons.com/articles/livent-stock-rating-jp-morgan-lithium-51666025778?noredirect=y

https://finance.yahoo.com/news/spey-resources-extracts-99-5-000000229.html

Disclaimer: InvestorBrandMedia is not operated by a licensed broker, a dealer, or a registered investment adviser. It should be expressly understood that under no circumstances does any information published herein represent a recommendation to buy or sell a security. Our reports/releases are commercial advertisements and are for general information purposes ONLY. We are engaged in the business of marketing and advertising companies for monetary compensation. Never invest in any stock featured on our site or emails unless you can afford to lose your entire investment. The information made available in this article is not intended to be, nor does it constitute investment advice or recommendations. The contributors may buy and sell securities before and after any particular article, report, and publication. In no event shall InvestorBrandMedia be liable to any member, guest, or third party for any damages of any kind arising out of the use of any content or other material published or made available by InvestorBrandMedia ., including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance. The information in this video, article, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. InvestorBrandMedia.com strongly urges you to conduct a complete and independent investigation of the respective companies and consideration of all pertinent risks. Readers are advised to review SEC periodic reports: Forms 10-Q, 10K, Form 8-K, insider reports, Forms 3, 4, 5 Schedule 13D. For some content, Investor Brand Media, its authors, contributors, or its agents, may be compensated for preparing research, video graphics, and editorial content. As part of that content, readers, subscribers, and website viewers are expected to read the full disclaimers and financial disclosures statement that can be found on our website by visiting InvestorBrandMedia.com/Disclaimer. The Private Securities Litigation Reform Act of 1995 provides investors a safe harbor in regard to forward-looking statements. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions, or future events or performance are not statements of historical fact may be forward-looking statements. Forward-looking statements are based on expectations, estimates, and projections at the time the statements are made that involve a number of risks and uncertainties, which could cause actual results or events to differ materially from those presently anticipated. Forward-looking statements in this action may be identified through the use of words such as projects, foresee, expects, will, anticipates, estimates, believes, understands, or that by statements indicating certain actions & quotes; may, could, or might occur. Understand there is no guarantee past performance will be indicative of future results. Investing in micro-cap and growth securities is highly speculative and carries an extremely high degree of risk. It is possible that an investor’s investment may be lost or impaired due to the speculative nature of the companies profiled. InvestorBrandMedia has been compensated seven hundred and fifty dollars by a 3rd party Bullyzeye Media LLC for content, research, dissemination, and syndication pertaining to SPEYF for 10/31/2022. We own zero shares of SPEYF.

Media Contact
Company Name: Investor Brand Media
Contact Person: Ash K
Email: investorbrandmedia@gmail.com
Country: United States
Website: https://investorbrandmedia.com/


Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
 
Photos copyright by Jay Graham Photographer
Copyright © 2010-2020 Sausalito.com & California Media Partners, LLC. All rights reserved.