A California-based startup backed by tech billionaires Bill Gates and Jeff Bezos is embarking on a global expedition across four continents to find lithium deposits for the burgeoning electric vehicle market.
KoBold Metals, which uses artificial intelligence (AI) and machine-learning to uncover critical metals, just launched an ambitious four-continent search for lithium deposits in the US, Canada, South Korea, Australia and Africa.
Utilizing machine learning for mineral deposit detection, KoBold identified a lithium prospect earlier in the year in the Baie James region of Canada, challenging previous assumptions about the lack of economic lithium deposits in that area.
KoBold’s journey into battery metals began three years ago in Canada, by securing exploration rights in northern Quebec. The startup has since acquired about a dozen exploration properties through joint ventures with industry giants like BHP and BlueJay Mining. With a primary goal of bridging the supply gap for the electrification of transportation, KoBold said it aims to contribute significantly to the burgeoning $5 trillion lithium market.
As governments around the globe increase their zero emissions goals, new sources of high-quality lithium will become more and more essential to meet ever-rising demand. Fortunately, a lithium development company with a significant resource in Canada is making significant headway in becoming a major player in the sector.
E3 Lithium Ltd. (TSXV:ETL) (FSE:OW3) (OTCQX:EEMMF) is a resource company with 16.0 million tonnes of lithium carbonate equivalent (LCE) in Measured and Indicated categories and 0.9 million tonnes LCE in the Inferred category.
E3 Lithium‘s objective is to produce high-purity, battery-grade lithium products to contribute to the growing electrical revolution. With a substantial lithium resource and innovative technology solutions, E3 Lithium aims to deliver lithium to the market from one of the world’s best jurisdictions.
E3 Lithium Outlines Growth Plans for 2024 Following Successful 2023
E3 Lithium is gearing up for substantial growth in 2024 following a successful 2023. The company achieved notable milestones during the past year, including upgrading its resource to 16.0 million tonnes of LCE, establishing a groundbreaking Direct Lithium Extraction (DLE) field pilot plant in Alberta, producing high-purity battery-grade lithium hydroxide, and initiating a best-in-class PFS led by Fluor.
“We set ambitious targets for ourselves in 2023 to advance our technology and our business; we have succeeded in accomplishing every milestone. The results we demonstrated in 2023 will continue to enable the completion of our PFS as we move into 2024,” said Chris Doornbos, E3’s President and CEO. “With the design of the commercial facility solidified, E3 can then contemplate a variety of growth and value creation opportunities on the back of our industry-leading resource and demonstrated DLE process.”
The company also bolstered its financial position, securing a C$3.5 million grant from Natural Resources Canada and raising close to C$30 million through oversubscribed fundraises. E3 Lithium continued to grow and mature as a company, expanding its team, Board of Directors, and Advisory Committee, while actively collaborating with partners such as Imperial Oil and Pure Lithium.
As E3 Lithium (TSXV:ETL) (FSE:OW3) (OTCQX:EEMMF) looks ahead to 2024, the company plans to progress reservoir development, advance DLE testing and analysis, announce the selection of a lithium refining vendor, and expand its team to support increased commercial activities. The company is also exploring additional opportunities to enhance shareholder value and plans to publish the first Alberta lithium Pre-Feasibility Study (PFS) outlining updated project economics and leading to the booking of Canada’s first lithium in brine reserves. Detailed guidance for 2024 will be provided in the New Year, accompanied by a webinar featuring Chris Doornbos.
Please visit this link or their website at e3lithium.ca for more information about E3 Lithium Ltd (TSXV:ETL) (OTCQX:EEMMF).
Featured Image @ FreePik
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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) the accuracy of budgeted costs and expenditures; (e) E3 Lithium Ltd.’s ability to attract and retain skilled personnel; (f) political and regulatory stability; (g) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (h) changes in applicable legislation; (i) stability in financial and capital markets; and (j) 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.
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