by Greg Klein | April 14, 2016
Voltaic Minerals TSXV:VLT made its trading debut April 14 with a new emphasis on lithium. The move follows a restructuring of Prima Diamond and a 5:1 share rollback. The company will initially focus on the Green Energy lithium project in Utah.
The 1,683-hectare property comes with an historic, non-43-101 estimate of 15 million barrels of brine containing 96,000 tons of sodium, 158,000 tons of potassium (302,400 tons of potassium chloride), 5,750 tons of lithium (30,535 tons of lithium carbonate), 157,000 tons of calcium and 147,000 tons of magnesium (576,450 tons of magnesium chloride).
With the Tesla Motors/Panasonic Gigafactory already beginning production in Nevada, electric vehicles are overtaking consumer electronics as lithium’s primary market. Forecasts suggest even greater demand from energy storage.
In February Benchmark Mineral Intelligence analyst Simon Moores reported that “the price of lithium carbonate so far in 2016 is 47% higher than last year’s average and the industry is experiencing some of the widest price ranges ever seen.”