In recent months, lithium prices slipped on oversupply issues, with producers cutting back on supply. However, those cuts are anticipated to eventually give way to a supply crunch. It’s why companies like Albemarle are still bullish on lithium. In addition, recent disruptions to lithium operations around Chile’s Atacama salt flats may also help to alleviate some of the oversupply issues. Those salt flats are among the world’s richest reserves of lithium. All of these events are opening a wide range of opportunity for companies involved in the lithium space, including E3 Metals Corp. (TSX-V: ETMC) (OTCPK: EEMMF), Tesla Inc. (NASDAQ:TSLA), Albemarle corporation (NYSE:ALB), Sociedad Quimica y Minera de Chile S.A. (NYSE:SQM) and Lithium Americas Corporation (NYSE:LAC) (TSX: LAC).
E3 Metals Corp. (TSX-V: ETMC) (OTC:EEMMF BREAKING NEWS: E3 Metals Corp. announced it has collected a large volume of lithium-enriched brine from the Leduc Reservoir in the Central Clearwater Resource Area (CCRA) of its Alberta Lithium Project. This 20,000 L brine sample is the largest collected to date and is required to support the continued testing and scale up of E3 Metals’ proprietary direct lithium extraction (DLE) process over the next 12 months. Brine collection was completed last week with assistance from a local oil and gas operator with whom E3 Metals has been actively collaborating since 2017. “E3 Metals has been working with the oil and gas industry throughout our project development to date,” stated E3 Metals CEO, Chris Doornbos. “Leduc Formation brine is a byproduct to the oil and gas industry in Alberta and E3 Metals sees tremendous value in this lithium-enriched brine through the planned commercialization of its proprietary DLE process. The brine will be utilized as part of our ongoing technology scale-up program under the Joint Development Agreement with Livent Corporation.”
Other related developments in the lithium industry include:
Tesla Inc. (NASDAQ:TSLA) released its financial results for the third quarter of 2019 by posting the Q3 update on its Investor Relations website. Please visit http://ir.tesla.com to view.
Tesla has noted concerns over supply for raw materials to sustain production at their US-based gigafactory, not far from E3 Metals’ location in Alberta Canada. Secure supply is anticipated to become increasingly important in addition to obtaining battery-grade quality products. Livent Corporation has significant expertise in the production of specialty lithium products including lithium hydroxide, known for its use in specialty lithium ion batteries.
Albemarle Corporation (NYSE:ALB) announced that “During the third quarter, Albemarle grew net sales by 14%, adjusted EBITDA by 12%, and adjusted earnings per share by 22% over the prior year, excluding currency impacts, due to solid growth across all businesses,” said Luke Kissam, Albemarle CEO. “We have recently made several strategic decisions to further position Albemarle for long-term success and remain confident in the long-term growth prospects of our business.”
Sociedad Quimica y Minera de Chile S.A. (NYSE:SQM) announced it would pay an interim dividend equal to US$0.26669 per share to be charged against 2019 retained earnings. This amount shall be paid in the equivalent of Chilean pesos according to the value of the “Observed Dollar” or “US Dollar” that appears published in the Official Gazette on August 30, 2019. This shall be paid to the corresponding shareholders, in person or through their duly authorized representatives, starting at 9:00am on September 12, 2019 to shareholders who are registered on the shareholders registry of the Company five business days prior to the payment date.”
Lithium Americas Corporation (NYSE:LAC) (TSX:LAC) announced its financial and operating results for the three months ended September 30, 2019. All amounts are in U.S. dollars unless otherwise indicated. This news release should be read in conjunction with Lithium Americas’ unaudited condensed consolidated interim financial statements and management’s discussion and analysis for the nine months ended September 30, 2019, which are available on the Company’s website and SEDAR. Lithium Americas is also pleased to announce that it has filed the previously announced Updated Feasibility Study and Mineral Reserve Estimation to Support 40,000 tpa Lithium Carbonate Production at the Cauchari-Olaroz Salars, Jujuy Province, Argentina, with an effective date of August 19, 2019, on SEDAR.