Palm Beach, FL – October 20, 2020 – The lithium-ion batteries have become intertwined with all facets of modern life. The lithium-ion battery is used in electronic devices such as smartphones, power tools, digital cameras and especially in the ever growing Electric Vehicle (EV) marketplace. Hence, the demand for the battery in the railway industries, manufacturing sectors, and solar power is likely to surge with the rising need for storage and power backup. Long life span, reduction in battery prices, and high density will drive the market for lithium-ion batteries through 2027 according to recent industry reports. A recent report from Grand View Research said that the global lithium-ion battery market size was valued at USD 32.9 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 13.0% from 2020 to 2027. The report said: “The growth of the market is attributed to the growing demand for the lithium-ion battery in Electric Vehicles (EVs) and grid storage as it offers high-energy density solutions and lightweight. The subsequent increase in the registration of EVs and a decrease in the price of the lithium-ion battery is estimated to expand market size over the forecast period. Also, a surge in sales of EVs and change in user preferences is likely to drive the market. The mounting number of photovoltaic installations and nuclear power plants, along with the beginning of the wind energy projects, is projected to propel market growth over the estimated period. Expanding off-grid installations in the U.S., India, China, and Germany, along with the growing acceptance of Li-ion batteries in equipment used in the medical sector, is expected to encourage the market for lithium-ion battery over the forecast period.” Active stocks in the markets this week include Tesla, Inc. (NASDAQ: TSLA), QMC Quantum Minerals Corp., (TSX-V: QMC) (OTCPK: QMCQF), Lithium Americas Corp. (TSX: LAC) (NYSE: LAC), Nikola Corporation (NASDAQ: NKLA), Lundin Mining Corporation (OTCPK: LUNMF) (TSX: LUN).
The Grandview report added that: “Increasing sales of electric vehicles in China is projected to drive the market for lithium-ion batteries in the upcoming years owing to government subsidies and purchase shares on non-electric vehicles in big cities. In addition, the existence of major electric vehicle companies, such as Nissan, BMW, Tesla, Chevrolet, Ford, Toyota, and Fiat mainly in the United States, United Kingdom, Germany, and China is anticipated to propel market growth. Electric Vehicles (EV) and Hybrid Electric Vehicles (HEVs) will continue to observe growth on account of the shift from fuels to electric batteries. Additionally, the government’s strict regulations on emission standards to protect the environment and decrease the degradation-based possibilities are likely to play a critical role in influencing the market for lithium-ion batteries.”
QMC Quantum Minerals Corp. (TSX-V: QMC) (OTCPK: QMCQF) BREAKING NEWS: QMC RESPONDS TO ANNOUNCEMENT OF CANADIAN ELECTRIC VEHICLE PRODUCTION – QMC Quantum Minerals Corp., (“QMC” or “the Company”), is extremely pleased with the recent $3.3B CDN funding announcement to build Electric Vehicles (“EV”) and batteries within Canada as the company is ideally positioned to source the required metals.
- $1.8 Billion Federal and Provincial Funding for Oakville EV plant
- $1.5 Billion Fiat Chrysler investment in Windsor EV plant
- Critical elements: lithium, copper, zinc, nickel
- Historical resource of 1.2M tons of 1.51% lithium oxide
- Extensive potential of copper, nickel, gold, and zinc with 41 deposit potential targets
QMC is in an extremely favourable position to gain significantly through the announcement on October 8th by the Federal Government of Canada and the Province of Ontario that they would provide a total investment commitment of $590 million CDN into the $1.8-billion CDN retooling of Ford Motor’s Oakville Ontario assembly plant making it the hub of EV production in Canada. This investment and retooling will make Ford Motor’s Canadian production facility the largest electric vehicle assembly plant in North America. This project will build five new electric vehicle models and the batteries that will power these vehicles.
Fiat Chrysler followed up a week later announcing a $1.5-billion investment in their Windsor assembly plant. The investment would outfit the factory with the state-of-the-art equipment that will enable the assembly of plug-in hybrids and battery-powered vehicles with at least one new model in 2025. The plant will add up to 2,000 jobs to the Windsor plant.
To produce these vehicles specialized raw materials will be required. In addition to typical commodities required to manufacture vehicles, EVs require four additional critical elements: lithium, copper, zinc, and nickel which QMC is moving towards becoming a producer of ALL of these commodities (plus potentially gaining platinum, palladium, silver and gold credits) through the ongoing development of its Irgon Lithium (Spodumene) Mine Project and Namew Lake District (Volcanic Massive Sulphide (“VMS”) Projects.
Namew Lake District Project – Situated in the renowned Flin Flon and Snow Lake districts of Manitoba known for its world-class VMS deposits, the company land package covers 55,000 acres. The project is contiguous to the western side of Hudbay Minerals’ (HBM-TSX) Namew Lake Mine which has produced 2.57 million tons of nickel, copper, palladium, and platinum. The Namew Lake Project is also in the vicinity of the currently producing 777 and Lalor mines, in addition to being proximal to the past-producing Reed Lake Mine. In addition to being in close proximity to these other deposits, the company’s district sized Namew Lake Project displays similar underlying geology to the aforementioned mines. The project hosts 41 deposit sized targets outlined in a versatile time domain electromagnetic (VTEM) system survey.
The Irgon Lithium Mine Project – Between 1953-1954, the Lithium Corporation of Canada Limited drilled 25 holes into the Irgon Dike and subsequently reported a historical resource estimate of 1.2 million tons grading 1.51% Li20 over a strike length of 365 meters and to a depth of 213 meters (Northern Miner, Vol. 41, no.19, Aug. 4, 1955, p.3). This historical resource is documented in a 1956 Assessment Report by B. B. Bannatyne for the Lithium Corporation of Canada Ltd. (Manitoba Assessment Report No. 94932). This historical estimate is believed to be based on reasonable assumptions, and neither the company nor the QP has any reason to contest the document’s relevance and reliability. The detailed channel sampling and a subsequent drill program will be required to update this historical resource to current NI 43-101 standards. Historic metallurgical tests reported an 87% recovery from which a concentrate averaging 5.9% Li2O was obtained.
During this historical 1950-era work program, a complete mining plant was installed onsite, designed to process 500 tons of ore per day, and a three-compartment shaft was sunk to a depth of 74 meters. On the 61-metre level, lateral development was extended off the shaft for a total of 366 meters of drifting, from which seven crosscuts transected the dike.
The Company has had recent discussions with Sinomine Group, Co., Ltd. (“Sinomine”) to process spodumene material from the Irgon Lithium Mine Property at their TANCO plant. The TANCO plant is easily accessible, located approximately 20km directly south of the Irgon Lithium Mine Property via Highway 314. The TANCO management have provided the Company with an estimate to prepare samples (crushing and grinding), floatation testing, assaying and analysis for preliminary metallurgical evaluation. The testing will provide the Company with a lithium concentrate, in the past the TANCO circuitry was able to achieve lithium concentrate levels up 7.25% Li2O to Dow Corning. The Company expects to achieve at least 6% Li2O in this round of testing. Read this release for the QMC Quantum Minerals Corp. news at: https://www.financialnewsmedia.com/news-qmc/
FOR ADDITIONAL LITHIUM DETAILS PLEASE VISIT: https://wallstnow.com/2020/10/01/has-lithium-finally-hit-its-peak/
Other recent developments in the markets include:
Tesla, Inc. (NASDAQ: TSLA) recently announced that it will post its financial results for the third quarter of 2020 after market close on Wednesday, October 21, 2020. At that time, Tesla will issue a brief advisory containing a link to the Q3 2020 update, which will be available on Tesla’s Investor Relations website. Tesla management will hold a live question and answer webcast that day at 2:30 p.m. Pacific Time (5:30 p.m. Eastern Time) to discuss the Company’s financial and business results and outlook.
The company also announced that in the third quarter, we produced just over 145,000 vehicles and delivered nearly 140,000 vehicles. In terms of days of sales, new vehicle inventory declined further in Q3 as we continue to improve our delivery efficiency.
Our net income and cash flow results will be announced along with the rest of our financial performance when we announce Q3 earnings. Our delivery count should be viewed as slightly conservative, as we only count a car as delivered if it is transferred to the customer and all paperwork is correct. Final numbers could vary by up to 0.5% or more. Tesla vehicle deliveries represent only one measure of the company’s financial performance and should not be relied on as an indicator of quarterly financial results, which depend on a variety of factors, including the cost of sales, foreign exchange movements and mix of directly leased vehicles.
Lithium Americas Corp. (TSX: LAC) (NYSE: LAC) recently announced that it has completed the previously announced transaction with Ganfeng Lithium Co., Ltd. (together with its subsidiaries, “Ganfeng Lithium”) in respect of their joint venture company, Minera Exar S.A. (“Minera Exar”) (the “Transaction”). Minera Exar owns 100% of the Caucharí-Olaroz lithium project (“Caucharí-Olaroz”) currently under development in Jujuy, Argentina. On closing, Ganfeng Lithium subscribed for new shares of Minera Exar for cash consideration of US$16 million increasing its interest from 50% to 51%, with Lithium Americas owning the remaining 49%. In addition, Lithium Americas received US$40 million in cash from the proceeds of a non-interest-bearing loan from Ganfeng Lithium. For more details on the Transaction, please refer to the Company’s press release dated February 7, 2020.“The Transaction with Ganfeng Lithium further strengthens our long-term partnership in Argentina as we work together to bring Caucharí-Olaroz into production,” commented Jon Evans, President and CEO. “With an additional US$40 million in cash on our balance sheet and over US$200 million in available capital to fund our share of Caucharí-Olaroz, Lithium Americas remains in a strong financial position as we advance both of our projects.”“Caucharí-Olaroz is approximately 50% complete and represents one of the few large-scale lithium operations currently in development globally. We are coordinating closely with the Province of Jujuy to ensure we operate responsibly and safely as we gradually restart construction activities. The health and safety of our workers and the communities close to the project is our top priority.”
Nikola Corporation (NASDAQ: NKLA) recently highlighted its ongoing hydrogen and fuel-cell efforts in celebration of National Hydrogen and Fuel-Cell Day 2020. National Hydrogen and Fuel-Cell Day was established to recognize the progress made in fuel-cell and hydrogen technologies as well as their potential role in a green future. The day falls on October 8th each year in reference to the atomic weight of hydrogen, 1.008.
“We are excited to celebrate National Hydrogen and Fuel-Cell Day 2020 by sharing our progress on our hydrogen fuel-cell technology,” said Mark Russell, Chief Executive Officer of Nikola. “Nikola is creating an ecosystem that integrates next-generation truck technology, hydrogen fueling infrastructure and maintenance. By removing commercial trucks from the carbon equation, Nikola is fulfilling our mission of leaving the world a better place.”
Lundin Mining Corporation (OTCPK: LUNMF) (TSX: LUN) (NASDAQ Stockholm: LUMI) recently announced that despite mediation with the Candelaria AOS Union (the “Union”), which represents approximately 550 workers at its Candelaria operations in Chile, the Company and the Union have failed to reach an agreement. The Union can legally be on strike commencing October 20, 2020. The Candelaria Mine Workers Union continues with its labor action which commenced on October 8, 2020.
Lundin Mining holds health and safety as a top priority in everything we do. Illegal and violent actions promoted under the guise of the legal strike of the Mine Workers Union, and the pending labor action of the Candelaria AOS Union, puts the safety of our Candelaria workforce at risk. Candelaria operations are currently in the process of planning for temporary suspension. Critical works will continue to be executed to protect required onsite personnel, the operation and the environment. The Company sincerely regrets having to take this action and its impact on our workforce, local community, suppliers, customers and many stakeholders.
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