Lithium is key to overwhelming EV demand, but supply is limited. According to a new report (1,2), the lithium market is worth around $7.5 billion, up almost 10% compared to last year. And, experts believe demand will only accelerate from here as automakers ramp EV production. With new incentives for sustainable energy (EVs), automakers are investing billions in electrifying their fleets.
In the U.S., the Infrastructure Investment and Jobs Act set aside $5 billion in federal funding for EV charging stations to support President Biden’s goal of getting EVs to account for 50 percent of new auto sales by 2030. With automakers on board, there will be ample demand for lithium in the years ahead and increased focus on lithium mining companies (3).
One small cap lithium mining company that we would like to draw your attention to is Spey Resources Corp. (CSE: SPEY) (OTC: SPEYF).
Spey Resources is a Canadian mineral exploration company which has an 80% interest in the Candela II lithium brine project located in the Incahuasi Salar, Salta Province, Argentina. Spey also holds an option to acquire a 100% undivided interest in Pocitos II and 20% interest in the Pocitos I lithium projects. Spey also holds interests in four lithium exploration projects located in the James Bay Region of Quebec. Spey has a 100% interest in the Silver Basin Project located in the Revelstoke Mining Division of British Columbia as well as an option to acquire a 100% interest in the Kaslo Silver project, west of Kaslo, British Columbia (4).
On October 17th, the company announced that the Ministerio de Produccion y Desarrollo Sustentable (Minister of Production and Sustainable Development) has approved the Company’s drill permits for Pocitos Salar projects 1 and 2. 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.
Phil Thomas, CEO of Spey, states, “these are exciting times for the Company since we have received our green light to drill and have mobilized the drill rigs to Pocitos 1. Drilling has begun on Pocitos 1 and we anticipate drilling to begin on Pocitos 2 around October 27, 2022.
Another reason to place SPEYF on top of the radar is its latest PR announcing that it has completed the acquisition of 100% of the issued and outstanding share capital of Lithium Energy Metal Corporation from all of the former shareholders of LEM (5).
LEM holds interests in four projects in the James Bay Region of Quebec near projects held by Patriot Battery Metals Inc. The projects vary in distance from PMET’s projects, one of them being within approximately one kilometer of the border of a PMET project.
- The 454 Block Project – consists of 10 contiguous claims (513 hectares). The claims occur within the Archean Langelier Complex, which are the oldest rocks in the Le Grand sub-province of the regional Superior Province, and comprise foliated tonalite with hornlende-biotite magnetite.
- The West Lac Corvette Project – consists of 10 contiguous claims (513 hectares). The claims cover Mesoarchean rocks of the Rouget Formation, derived from basalts as well as Neoarchean Marbot Formation wackes (with injections of granite), and southern margin of the Mesoarchean tonalite pluton (post de Le Moyne).
- The Trieste Project – consists of two separate contiguous blocks totaling 50 claims and covering 2,575 hectares (618 hectares north, and 1,957 hectares south), with mylonite and amphibolite rocks of the Mesoarchean Trieste Formation that were derived from basalts.
- Salomon Project – 100 claims in two separate continuous blocks, covering 5,155 hectares. The project includes Mesoarchean mylonites and amphibolites, as well as younger Neoarchean metamorphic wackes and arkoses.
Would it be safe to conclude that early investors may be rewarded if SPEYF hits lithium? Trading at mere 26 cents, SPEYF seems to have a lot of room on the upside if all plans come to fruition. Start your due diligence now and always follow trader’s vigilance.
Albemarle (NYSE:ALB) is leading the charge in global lithium output. Among the company’s biggest customers is Panasonic (OTC:PCRFY), which manufactures lithium batteries for everything from small consumer electronics to EVs. Other companies in Albemarle’s space includes: DuPont de Nemours (NYSE:DD), PPG Indus (NYSE:PPG), Intl Flavors & Fragrances (NYSE:IFF), RPM International (NYSE:RPM) and Sensient Technologies (NYSE:SXT).
Visit InvestorBrandMedia.com for alerts on hot stocks of the day!
Source 1- https://www.grandviewresearch.com/industry-analysis/lithium-market
Source 2- https://electrek.co/2022/08/11/soaring-ev-demand-pushes-lithium-market-double-2030/#:~:text=Lithium%20is%20key%20to%20overwhelming,as%20automakers%20ramp%20EV%20production.
Source 3 – https://www.fool.com/investing/stock-market/market-sectors/materials/metal-stocks/lithium-stocks/
Source 4 – https://finance.yahoo.com/news/minister-production-sustainable-development-salta-120000130.html
Source 5 – https://finance.yahoo.com/news/spey-resources-corp-completes-acquisition-120000523.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 one thousand dollars by a 3rd party Bullyzeye Media LLC for content, research, dissemination, and syndication pertaining to SPEYF for 10/12/2022 and 10/18/2022 dates. We own zero shares of SPEYF.
Media Contact
Company Name: Investor Brand Media
Contact Person: Ash K
Email: Send Email
Country: United States
Website: https://investorbrandmedia.com/