Palm Beach, FL – September 12, 2023 – FinancialNewsMedia.com News Commentary – With a significant increase in the production of electric vehicles, the demand for lithium has significantly increased in recent years. The majority of the lithium produced is consumed for rechargeable batteries used in electric vehicles; according to estimates, batteries account for 46% of all lithium consumption worldwide. Lithium-ion batteries are widely used in larger-scale devices such as air mobility and energy storage unit applications as well as consumer electronics such as cameras, laptops, and mobile phones which have seen a surged demand in recent years. Hence, the flourishing lithium-ion batteries demand propels the growth of the lithium mining sector. A report from Fact.MR projected that the global lithium mining market size is valued to be US$ 1.2 billion in 2023 and it is anticipated to grow at a CAGR of 6.4% to reach US$ 2.1 billion by the end of 2033. It discussed the future pathway for lithium saying: “Short Term (2023-2026): Demand across numerous end-use industries especially pharmaceuticals and electric vehicles is anticipated to drive the lithium mining market in a short go; Medium Term (2026-2029): Government investments and mining projects to meet the growing lithium demand are likely to drive the lithium mining industry during the forecast period; and Long Term (2029-2033): Adoption of advanced and sustainable technology for mining which increases output and decreases carbon emission, coupled with the discovery of new lithium reserves to create lucrative opportunities for the market players.” Active mining companies in the markets this week include: Indigo Exploration Inc. (OTCQB: IXIXF) (TSX-V: IXI), Brunswick Exploration Inc. (OTCQB: BRWXF) (TSXV: BRW), E3 LITHIUM LTD. (OTCQX: EEMMF) (TSXV: ETL), Tesla (NASDAQ: TSLA), LithiumBank Resources Corp. (OTCQX: LBNKF) (TSX-V: LBNK).
Fact.MR concluded: “Government Investments for White Gold to Drive the Lithium Mining Industry… Lithium is often called white gold due to its demand and usability in energy as well as other industries. Lithium mining remains a prominent area of investment as lithium batteries are used in electric vehicles, battery-powered machinery, and others. The government is investing in lithium mining to reduce EV battery prices which ultimately reduces EV prices. On the back of such factors governments and companies are investing heavily in lithium mining.”
Indigo Exploration Inc. (OTCQB: IXIXF) (TSX-V: IXI) BREAKING NEWS: Indigo Completes Sampling on Leduc-Legal Lithium Brine Project – Indigo Exploration Inc. (the “Company”) is pleased to provide an update to the ongoing lithium brine sampling program in Alberta, Canada. Field crews gathered brine samples from 9 wells at the Leduc-Legal Project. All samples have been sent to AGAT Laboratories for chemical assay analysis with results anticipated within two to three weeks. The Company’s ongoing lithium brine sampling program across its portfolio of projects continues to advance weekly and is anticipated to be completed in the next three weeks.
About the Leduc-Legal Lithium Brine Project – The Leduc-Legal Project covers an area of 23,488 hectares and is comprised of the Leduc (5,440 hectares) and Legal (17,935 hectares) areas. These areas are targeting the same Devonian-aged Nisku and Leduc Carbonates which are the focus of E3 Lithium’s ongoing pilot program. Indigo’s Leduc Project permits are contiguous to E3 Lithium and Highwood Asset Management projects. CONTINUED… Read this and more news for Indigo Exploration at: https://www.indigoexploration.com/news/news-2023
In other market news of interest:
According to a report found on YahooFINANCE, Tesla (NASDAQ: TSLA) shares soared in Monday’s session, adding 10% following a recent upgrade from Morgan Stanley’s Adam Jonas. The updated price target for Tesla shares now sits at $400 per share (street high), up from the previous $250 per share target.
We see analyst upgrades and downgrades daily, commonly coming paired with updated price targets. They can be helpful tools for investors, providing a more structured plan and helping to inject positivity surrounding future performance.
Tesla, Inc. designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. It operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, retail merchandise, and vehicle insurance services.
E3 LITHIUM LTD. (TSXV: ETL) (OTCQX: EEMMF), “E3 Lithium” or the “Company,” Alberta’s leading lithium developer and extraction technology innovator, announced that commissioning of its Direct Lithium Extraction (DLE) field pilot plant is complete and operations have begun.
The commissioning process included connecting all major pieces of equipment to the piping and wiring systems on site. The team has also conducted a series of necessary inspections and system tests to ensure safe and successful operations. Each DLE system has demonstrated it is operating as expected based on the performance metrics established during pre-pilot testing.
LithiumBank Resources Corp. (OTCQX: LBNKF) (TSX-V: LBNK) recently announced it has entered into an intellectual property license agreement on September 8th 2023 (the “Agreement”) with G2L Greenview Resources Inc. (“G2L”), a subsidiary of Go2Lithium Inc., whereby G2L shall grant to the Company a license (the “License”) in Alberta and Saskatchewan for a full suite of continuous ion exchange technologies (the “Licensed Technology”). The Direct Lithium Extraction (“DLE”) technology will be used to extract lithium salts from enriched brines present at the Company’s lithium development projects.
Preliminary testing indicates that the Licensed Technology can reduce operating costs of the Boardwalk DLE circuit by increasing lithium recovery and selectivity, reducing reagent costs, and improving the lithium concentrate.
GLOBEX MINING ENTERPRISES INC. recently informed shareholders that Brunswick Exploration Inc. (OTCQB: BRWXF) (TSXV: BRW) have begun a minimum 5,000 metre drill program on the Lac Escale (Mirage) property under option from Globex. The 26-hole drill program will test continuity and widths of the six widest spodumene bearing pegmatite dykes that have been discovered to date on the property over a cumulative strike length of 2,500 metres. Previously Brunswick indicated that these dykes outcropped in widths of up to 80 metres. Prospecting has also identified additional spodumene-bearing outcrops approximately 4.5 km northeast of the center of the previously defined dyke field. The trend of the mineralized dykes now extends for about 6 kilometres with the boulder field extending for an additional 2.7 kilometres to the southwest. Both the extent of the outcrops and boulder train remain open in all directions.
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