News Release
UK's First Lithium Refinery Being Constructed to Bolster the Electric Vehicle Industry
MarketJar
Britain recently announced it is building its first lithium refinery in an effort to strengthen the UK's supply chain for electric vehicles. In Teesport, the fifth-largest port in the UK, Green Lithium, a company funded by commodities trading behemoth Trafigura, will construct a £600 million refinery for the battery material. The project's supporters want to generate 1,000 jobs during construction and enough lithium hydroxide annually for 1 million electric vehicles once the plant is up and running. In order to prepare for the 2030 ban on the sale of new gasoline and diesel vehicles, the government wants to improve the electric vehicle supply chain. The move comes as confidence in plans to develop the north-east of England into a powerhouse for green jobs and the electric vehicle industry has been rocked by the issues of Britishvolt. The battery company, which planned to build a £3.8bn "gigafactory," received five weeks of emergency cash from Glencore last week after planning to hire administrators. Lithium is an essential component for batteries and a "critical mineral" used in technologies ranging from mobile phones to wind turbines. Ministers are concerned about the fragility of supply chains for important minerals, especially those from China, because of deteriorating relations between China and the US and UK. In an effort to bridge the supply gap, nations across the globe are scrambling to find new sources of lithium in places like Australia, South America, and even Africa. However, according to Canaccord, Canada is positioned to become a key lithium player in the medium-term thanks to an increasing number of active development and exploration projects. E3 Lithium (TSXV:ETL) (OTCQX:EEMMF) has an impressive land position in business-friendly Alberta, Canada, but also the proprietary technology to become a dominant lithium producer for the next +20 years. E3 Lithium Announces Sample Results From First Well On November 10, E3 Lithium announced the sample results from the first well in the Clearwater Project Area within the Bashaw District. Based on brine samples from five zones, the P50 lithium concentration from at the company’s first well is 76.5 mg/L. E3 Lithium’s well is the first of three designed to understand the aquifer’s production properties and lithium concentrations in an area not previously tested. This well was completed near the centre of the Clearwater Project Area and is a candidate location for E3’s first commercial operation. E3 retrieved samples of brine from five separate intervals to provide a vertical perspective of lithium concentrations across the 200 metres of producible aquifer in this area. “This historic well, which was the first of its kind in Alberta drilled for the purposes of evaluating lithium, proves consistent lithium concentrations continue into this part of the aquifer,” said Chris Doornbos, President and CEO of E3 Lithium. “This data validates our model, supports our resource upgrade from Inferred to Measured and Indicated, and increases our confidence in the global significance of the Bashaw District as an emerging lithium jurisdiction in western Canada.” The brine samples were analyzed by a third-party certified laboratory, following independently verified sample acquisition procedures that maintained a strict chain of custody, in accordance with The Canadian Institute of Mining, Metallurgy and Petroleum (CIM) guidelines. E3 Lithium is currently analyzing samples from its second well and will report results once complete. The results come just two weeks after the company completed the production test on the first well. The test was designed to confirm the viability of the lithium-rich brine from E3 Lithium 's resource in the Leduc Reservoir. The five-day production test provided the company with critical data to support the commercial viability of producing lithium from the Leduc Reservoir. The test also included reinjecting brine back into the reservoir to confirm injectivity capacity, which is an important component of E3 Lithium 's environmentally sustainable process. The test included re-injecting the produced brine at a rate of 1,200m3/d in less than two days. E3 Lithium acquired the Clearwater Project Gross Overriding Royalty that was negotiated back in 2016 during the original amalgamation of the company's permits in the Clearwater Project Area. As part of the original agreement, the company had the option to buy the royalty by September 30. The royalty would have provided 2.25% of gross revenue from any metallic and industrial mineral production to the original owner. Based on E3 Lithium ’s Preliminary Economic Assessment (PEA) released in 2020, the value of the royalty would have been roughly C$8.5 million per year. Using recent lithium prices, the royalty would be significantly higher, outlining the clear economics behind the decision to acquire it for C$800,000. For more information about E3 Lithium Ltd (TSXV:ETL) (OTCQX:EEMMF), please visit this link or their website at e3lithium.ca. Disclaimer 1) The author of the Article, or members of the author’s immediate household or family, do not own any securities of the companies set forth in this Article. The author determined which companies would be included in this article based on research and understanding of the sector. 2) The Article was issued on behalf of and sponsored by, E3 Lithium Ltd. Market Jar Media Inc. has or expects to receive from E3 Lithium Ltd’s Digital Marketing Agency of Record (Native Ads Inc.) twenty-three thousand one hundred and sixty dollars CAD for 10 days (8 business days). 3) Statements and opinions expressed are the opinions of the author and not Market Jar Media Inc., its directors or officers. The author is wholly responsible for the validity of the statements. The author was not paid by Market Jar Media Inc. for this Article. Market Jar Media Inc. was not paid by the author to publish or syndicate this Article. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. Market Jar Media Inc. requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Market Jar Media Inc. relies upon the authors to accurately provide this information and Market Jar Media Inc. has no means of verifying its accuracy. 4) The Article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of the information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Market Jar Media Inc.’s terms of use and full legal disclaimer as set forth here. This Article is not a solicitation for investment. Market Jar Media Inc. does not render general or specific investment advice and the information on PressReach.com should not be considered a recommendation to buy or sell any security. Market Jar Media Inc. does not endorse or recommend the business, products, services or securities of any company mentioned on PressReach.com. 5) Market Jar Media Inc. and its respective directors, officers and employees hold no shares for any company mentioned in the Article. 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) E3 Lithium Ltd.’s ability to enter into contractual arrangements with additional Pharmacies; (e) the accuracy of budgeted costs and expenditures; (f) E3 Lithium Ltd.’s ability to attract and retain skilled personnel; (g) political and regulatory stability; (h) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (i) changes in applicable legislation; (j) stability in financial and capital markets; and (k) 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. 7) Any graphs, tables or other information demonstrating the historical performance or current or historical attributes of E3 Lithium Ltd. or any other entity contained in this document are intended only to illustrate historical performance or current or historical attributes of E3 Lithium Ltd. or such entities and are not necessarily indicative of future performance of E3 Lithium Ltd. or such entities. Contact Details Market Jar Media Inc. and PressReach James Young +1 800-340-9767 campaigns@pressreach.com Company Website https://pressreach.com
November 10, 2022 06:15 AM Pacific Standard Time
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