Thursday 27th April 2017

Resource Clips


Posts tagged ‘lithium’

Lithium-ion’s bigger picture

April 25th, 2017

Chris Berry looks beyond exploration and mining to the battery supply chain

by Greg Klein

He dates it to what he calls “lithium’s Big Bang,” the February 2014 announcement of Tesla’s first gigafactory. New investment rejuvenated the juniors, as they set out in search of new supply. But “it’s not just the metals and mining space that’s seen an influx of capital,” Chris Berry points out. As an independent consultant to asset managers, he’s spent a lot of time over the last 18 months “talking to what I call new types of money that are trying to understand the lithium-ion space.”

He brought his perspective to Vancouver on the April 21 stop of the Benchmark Mineral Intelligence World Tour.

Chris Berry looks beyond exploration and mining to the battery supply chain

Although lithium prices continue their ascent, the battery-powered revolution is “really rooted in economics,” explained the president of House Mountain Partners and editor of the Disruptive Discoveries Journal. “I don’t think this technology-driven deflation in battery prices can really be stopped…. Lithium-ion battery prices have fallen 60% in the last three years alone, just since the gigafactory announcement.”

With more battery megafactories coming (Benchmark currently tracks 15 existing or planned projects), he believes price deflation will “continue, perhaps intensify, for the next five to 10 years.”

That can only encourage further electric vehicle sales. And apart from the practical advantages of EVs, driving them is “a really transformative experience. There really is nothing like it,” he maintains.

There’s no questioning future demand for energy minerals, he insists. But there is a question of whether supply “will overshoot or undershoot.”

Even so he sees “a very robust supply chain response” that goes beyond Albemarle NYSE:ALB, FMC NYSE:FMC and SQM NYSE:SQM to include, for example, Intel’s $15-billion takeout of driverless car designer Mobileye, Chinese EV/energy storage manufacturer BYD’s plans to boost its battery production to megafactory stature and Beijing-based search engine giant Baidu’s cash injection into NextEV. “This entire lithium-ion supply chain is continuing to grow, continuing to see huge investment,” Berry emphasized.

“The beauty of it is there are a number of different ways you can gain exposure.” Fund managers and others with deep pockets might compare Albemarle with SQM, but Berry suggested also comparing the “risk/reward paradigm” of such companies with an outfit like Nano One Materials TSXV:NNO, a Vancouver-based company working to transform battery design.

Chris Berry looks beyond exploration and mining to the battery supply chain

Chris Berry: “This entire lithium-ion supply
chain is continuing to grow, continuing
to see huge investment.”

Of course the pace of new development raises questions about operating margins. “Does it make sense to focus on a company like Albemarle that has a 40% EBITDA profit margin?” he asked. “Or does it make sense to go further down the supply chain and think about a company like Panasonic, much different than Albemarle but still heavily invested and involved in the lithium supply chain? The challenge, I would argue, with Panasonic is that they are going to get a tremendous amount of competition from BYD, Tesla and a number of other battery manufacturers. So the profit margin of Panasonic, despite being one of the biggest players in the space, is going to shrink.”

Looking back at lithium exploration and development projects, Berry said different extraction technologies offer miners and would-be miners additional opportunities to leverage themselves to investors.

For all that, one of Berry’s concluding remarks must have taken many attendees by surprise. Benchmark managing director Simon Moores asked why attention so often focuses on lithium and not other battery materials.

Berry’s response? “I would actually be the most optimistic about nickel, cobalt and lithium in that order.” But noting China’s long-term strategy in building supply chains, he added, “The interesting thing about lithium relative to other niche metals is that China doesn’t have a stranglehold on it.”

Nevertheless, he cautioned, about 60% of battery capacity comes from China.

Read about Simon Moores discussing the rise of battery megafactories.

Converging on batteries

April 23rd, 2017

Benchmark sees big investors wakening as three huge sectors chase three vital minerals

by Greg Klein

It’s “a sign of the times that big investors with big money are starting to look at this space in a serious way,” Simon Moores declared. “We’re seeing it with lithium, that’s just starting. And I think we’re going to see it with the other raw materials as well.” To that he attributes the automotive, high-tech and energy sectors for their “convergence of three multi-trillion-dollar industries on batteries.”

Addressing a Vancouver audience on the April 21st inaugural stop of the third annual Benchmark Mineral Intelligence World Tour, he pointed out that cobalt and graphite have yet to match lithium for investors’ attention. But not even lithium has drawn the financing needed to maintain supply over the long term.

Benchmark sees investment lagging as three huge sectors chase three vital minerals

While EVs still lead the battery-powered revolution, energy storage
will become more prominent after 2020, according to Simon Moores.

Back in 2006, batteries accounted for 22% of lithium demand. Ten years later the amount came to 42%. “We believe in 2020, 67% of lithium will be used for batteries.”

What’s now driving the battery market, almost literally, is electric vehicles. Energy storage will play a more prominent role from about 2020 onwards, he maintained.

He sees three cars in particular that should lead the trend: Tesla Model 3, Chevrolet Volt and Nissan Leaf. As consumers turn to pure electric vehicles with battery packs increasing capacity to the 60 to 70 kWh range and beyond, the industry will sell “hundreds of thousands of cars rather than tens of thousands… the era of the semi-mass market for EVs is beginning and it’s beginning now, this year.”

Last year’s lithium-ion market reached 70 GWh, Moores said. Forecasts for 2025 range from Bloomberg’s low of about 300 GWh to Goldman Sachs’ 440 GWh and a “pretty bullish” 530 GWh from Cairn Energy Research Advisors. As for Benchmark, “we’re at the lower end” with a base case of about 407 GWh.

“What does that mean for lithium demand? A lot of raw materials will be needed and the investment in that space is just starting.”

Lithium’s 2016 market came to about 80,000 tonnes. By 2020, demand will call for something like 180,000 to 190,000 tonnes. While battery-grade graphite demand amounted to about 100,000 tonnes last year, “by 2020, that will be just over 200,000 tonnes.” As for battery-grade cobalt, last year’s market came to just under 50,000 tonnes. “By 2020 it’s going to need to get to about 80,000 to 85,000.”

Benchmark sees investment lagging as three huge sectors chase three vital minerals

Simon Moores: “No other mineral
out there has this kind of price profile.”

Investment so far favours lithium but for each of the three commodities, it’s “not enough, not for the long term,” he stressed.

Three years ago only two battery megafactories had been envisioned. Now in operation, under construction or being planned are 15, with the number expected to grow. “That’s going to be needed if we’re ever going to get anywhere near the forecast that everyone’s saying. Not just us, not just Bernstein or Goldman Sachs, everyone is saying significant growth is here but investment is needed.”

But although Tesla gets most of the headlines, “the new lithium-ion industry is a China-centric story.” The vast majority of megafactories are Chinese plants or joint ventures with Chinese entities operating in South Korea or Japan. “The majority of their product goes to China.”

At the end of last month lithium carbonate averaged $12,313 a tonne while lithium hydroxide averaged about $17,000. Spot deals in China, meanwhile, have surpassed $20,000.

That compares with prices between 2005 and 2008 of around $4,000 for lithium carbonate and $4,500 for lithium hydroxide. Only slightly higher were averages for 2010 to 2014. But prices spiked in 2015 and 2016. “Between now and 2020 we believe lithium carbonate will be in and around an average of $13,000 a tonne and lithium hydroxide will be closer to $18,000 a tonne.”

Those long-term averages “are important for people building mines and investing in this space.”

Except for 2010, lithium prices have shown 11 years of increases, corresponding with battery demand. “No other mineral out there has this kind of price profile.”

Moores sees no oversupply or price crash for lithium in the next five years. Spodumene-sourced lithium “will fill the short-term supply deficit and brines will help fill the longer-term supply deficit post-2019 and 2020,” he said. “Both are needed to have a strong, balanced industry in the future.”

Turning to graphite, he noted that batteries had zero effect on the market in 2006. By 2016 they accounted for 16% of demand. By 2020, that number should jump to 35%.

While flake graphite comprises the feedstock for most anode material, “really, the price you should look at is spherical graphite.” That’s fallen lately to about $2,800 a tonne.

Moores foresees better margins for companies producing uncoated spherical graphite. “The people who make the coated will also make good margins, but not as good as in the past. For this reason, and because battery buyers are becoming more powerful and there’s more competition in the space, we believe the coated spherical graphite price will actually fall in the long term average, but will still be between $8,000 and $12,000 a tonne. So there’s very high value and significant demand for this material.”

He also sees natural graphite increasing its anode market share over synthetic graphite. “That’s a cost issue primarily, but there are green issues too.”

Silicon, he added, “will play a part in anodes but it will be an additive, not a replacement.”

Speaking with ResourceClips.com after the event, Moores said Benchmark World Tour attendees differ by city. The Vancouver audience reflected the resource sector, as well as fund managers attracted by BMO Capital Markets’ sponsorship. Tokyo and Seoul events draw battery industry reps. Silicon Valley pulls in high-tech boffins.

This year’s tour currently has 15 cities scheduled with two more under consideration, he noted. That compares with eight locations on the first tour in 2015. Moores attributed the success to Benchmark’s access to pricing and other sensitive info, as well as Benchmark’s site visits. “We go to China and other countries and visit the mines,” he said. “Our travel budget is through the roof. We’re not desktop analysts.”

Belmont Resources has drilling imminent for Nevada lithium

April 19th, 2017

by Greg Klein | April 19, 2017

In search of lithium-bearing brines similar to those of the Clayton Valley, 65 kilometres south, drilling could resume any day now at Belmont Resources’ (TSXV:BEA) Kibby Basin project. Having attempted sonic drilling in February, the company now has Harris Exploration Drilling and Associates mobilizing a track-mounted rig for an HQ program to possible depths of about 300 metres.

Belmont Resources has drilling imminent for Nevada lithium

A new drilling contractor brings considerable Clayton Valley experience
and proprietary techniques to Belmont Resources’ Kibby Basin.

The contractor brings extensive Clayton Valley experience in recovering core from unconsolidated lakebed sediments and in testing lithium brine with Harris’ proprietary instrumentation, Belmont stated.

Based on last year’s gravity survey on the 2,760-hectare property, initial holes “are designed to test the eastern basin-bounding fault, where lithium brines are likely to well up in the structural zone, analogous to the concentration of lithium brines along the Paymaster fault in Clayton Valley, and to test the stratigraphy near the central axis of the basin,” the company added. “The holes will test for porous basin sediments, which could serve as aquifers for lithium brines.”

In Saskatchewan’s Uranium City region, Belmont holds a 50/50 JV with International Montoro Resources TSXV:IMT in the 12,091-hectare Crackingstone and Orbit claims.

Belmont also has international arbitration proceedings underway regarding the revocation of mining rights at a talc project in Slovakia.

During February and March the company closed private placements totalling $467,500.

More critical than ever

April 13th, 2017

The USGS promotes awareness about essential resources and their supply chains

by Greg Klein

Let’s call it Critical Minerals Awareness Month. The U.S. Geological Survey hasn’t actually labelled April that way, but the agency does have a “big push” underway to inform American decision-makers and the general public about the country’s often tenuous hold on commodities vital to the economy and security of that country. Of course those concerns apply to its allies as well.

The USGS promotes public awareness about essential resources and their supply chains

“We decided to do a big push on critical minerals in April largely because we’ve got several big publications coming out on the subject,” USGS public affairs specialist Alex Demas tells ResourceClips.com.

“One of the things we’ve been focusing on is supply chain security, so with the sheer number of mineral commodities that are used in the United States, and the number of them deemed critical, we felt it was important to emphasize where a lot of those mineral resources are coming from and if there are any potential issues in the supply chain, getting them from the source to the United States.”

Computers provide an obvious example, increasing their use from “just 12 elements in the 1980s to as many as 60 by 2006,” points out one recent USGS news release. Smartphones offer another example. Looking back 30 years ago, “‘portable’ phones were the size of a shoebox and consisted of 25 to 30 elements,” states another USGS release. “Today they fit in your pocket or on your wrist and are made from about 75 different elements, almost three-quarters of the periodic table.”

Larry Meinert, USGS deputy associate director for energy and minerals, pointed out some of the sources. “For instance, the industrial sand used to make the quartz in smartphone screens may come from the United States or China, but the potassium added to enhance screen strength could come from Canada, Russia or Belarus. Australia, Chile and Argentina often produce the lithium used in battery cathodes, while the hard-to-come-by tantalum—used in smartphone circuitry—mostly comes from Congo, Rwanda and Brazil.”

That brings an ominous warning. “With minerals being sourced from all over the world, the possibility of supply disruption is more critical than ever.”

The campaign also reveals the agency’s methods for tracking this essential stuff. A USGS-designed early warning system described as “mathematically rigorous and elegant” helps the U.S. Defense Logistics Agency monitor a watch list of about 160 minerals. Not all have been labelled critical, but those so defined can change due to technological development and geopolitical conflict.

The USGS itself tracks something like 90 minerals important to the American economy or security but sourced from about 180 countries. For last year the agency identified 20 minerals on which the U.S. relied entirely on imports and 47 on which the country imported more than half its supply.

Not all the source countries are always best buddies with the West. China supplies most of America’s mined commodities, including 24 of the 47 minerals supplied 51% or more by imports. Among the critical items are rare earth elements, 100% imported, over 90% directly from China and much of the rest through supply chains originating there.

As a supplier, Canada came a distant second, the chief provider of 16 minerals, not all of them critical. Runners-up Mexico, Russia and South Africa were each chief suppliers for eight American mineral imports.

Among the research reports coming soon will be “a compendium of everything the USGS knows about 23 minerals critical to the United States,” Demas says. “It’s going to cover the industry side of things, the reserves, production, shipment, etc. It’s going to cover geology and sustainability. Each chapter on each mineral will have a section on how this can be mined sustainably so we can meet our needs not only today, but also in the future.”

In part the publications target “decision-makers in Congress, as well as the Defense Department and others who use mineral resources,” Demas adds. But he emphasizes the campaign wasn’t motivated by the proposed METALS Act (Materials Essential to American Leadership and Security). Currently before U.S. Congress, the bill calls on government to support domestic resources and supply chains of critical and strategic minerals. On introducing the bill, Rep. Duncan Hunter argued the risk of foreign dependence to national security “is too great and it urgently demands that we re-establish our depleted domestic industrial base.”

As Demas notes, “Since we are a non-regulatory, non-policy agency, we don’t directly influence policy. But we do want policy-makers to have our tools available so they can make the best science-informed decisions.”

And while this month will see special attention to critical minerals, Demas says the subject’s an ongoing concern for the USGS. Some of the reports coming out now will be updates of annual publications.

“We’re really trying to promote the idea that USGS has a lot of really useful information that we put out all the time,” he adds. “This information will hopefully be useful to people when they’re considering where their resources are coming from.”

Follow USGS news here.

Read about the West’s dependence on non-allied countries for critical minerals here and here.

Lab work evaluates Voltaic Minerals’ potential for domestic U.S. lithium

April 11th, 2017

by Greg Klein | April 11, 2017

A California lab now has lithium extraction tests underway that could prove productive for Voltaic Minerals’ (TSXV:VLT) Green Energy property in Utah, as well as other lithium brine projects. Lithium Selective Technologies has begun work on an artificial brine similar to that determined by historic fluid analysis at Green Energy. With a team comprising 85 years of related experience, LiST endeavours to find a selection process for non-conventional brines.

Lab work evaluates Voltaic Minerals’ potential for domestic U.S. lithium

Selective extraction could open Utah’s potential
for unconventional sources of lithium brine.

The result could open lithium brine potential closer to Tesla’s Gigafactories, without relying on the huge evaporation ponds and exceedingly dry climate that characterize South American deposits.

“If successful, this process could create value from known resources in the U.S. and globally,” said Tom Currin. A 35-year chemical engineer, the Voltaic project manager and LiST principal has extensive experience in lithium projects and selective extraction. “The company is incorporating selective techniques used commercially in mineral extraction and water treatment in a novel fashion to achieve a result not yet seen in the lithium process sector.”

Phase I would take about 90 days and should provide enough data for the two companies to sign a definitive agreement to further develop and market the process.

Last week Voltaic announced an agreement with Stormcrow Capital to provide strategic, technical and business support. Led by Jon Hykawy, a physicist with an MBA in marketing who’s a recognized expert in critical and energy minerals, Stormcrow will introduce Voltaic to potential investors and partners, as well as offer technical analysis regarding selective extraction.

Historic oil and gas exploration data shows lithium-bearing brine originating from clastic units on the 1,683-hectare Green Energy property. Voltaic’s next steps include re-opening the wellheads to conduct sampling, expected to begin in spring or summer.

Equitorial Exploration closes acquisition of two western U.S. lithium properties

April 7th, 2017

by Greg Klein | April 7, 2017

With the deal now complete, Equitorial Exploration TSXV:EXX builds a portfolio of lithium properties. The company picked up the Tule Valley project in Utah and the Gerlach property in Nevada by paying Umbral Energy CSE:UMB $50,000 and two million shares, as well as assuming a payment of $100,000. A 2% NSR applies to both properties.

Equitorial Exploration closes acquisition of western U.S. lithium properties

The under-explored Gerlach property might
host structural similarities to Clayton Valley.

Umbral described Tule Valley as a closed valley several kilometres south of lithium source rocks, with active groundwater flow along its western margin. The property “has been affected by evaporate-style processes,” the company stated. “Tule Valley may therefore be conducive to the presence of lithium-bearing groundwater. In this respect, Tule Valley has similar characteristics to Clayton Valley, Nevada, a dry lake bed where lithium is derived from brines located within more porous sediment layers at depth under playa.”

As for Gerlach, also known as the San Emidio project, Umbral characterized it as an under-explored closed basin “in an area structurally comparable to that of Clayton Valley, being bounded by normal faults to the east and west of the property and surrounded by volcanics such as rhyolitic flows and tuffs.”

In March Equitorial filed a 43-101 technical report for its Little Nahanni Pegmatite Group property in the Northwest Territories, a hardrock project that underwent sampling last year. This year’s LNPG program could include resampling previous core, mapping, prospecting, channel sampling and drilling.

USGS: Possibility of supply disruption more critical than ever

April 5th, 2017

by Greg Klein | April 5, 2017

USGS: Possibility of supply disruption more critical than ever

Many and various are the sources of smartphone minerals.
(Map: U.S. Geological Survey)

 

In another article warning of foreign dependency, the U.S. Geological Survey uses smartphones as a cautionary example. Looking back 30 years ago, “‘portable’ phones were the size of a shoebox and consisted of 25 to 30 elements,” pointed out Larry Meinert of the USGS. “Today they fit in your pocket or on your wrist and are made from about 75 different elements, almost three-quarters of the periodic table.”

USGS: Possibility of supply disruption more critical than ever

Smartphones now require nearly 75% of the periodic
table of the elements. (Graphic: Jason Burton, USGS)

The increasing sophistication of portable communications results from a “symphony of electronics and chemistry” that includes, for example, “household names like silicon, which is used for circuit boards, or graphite used in batteries. Then there are lesser known substances like bastnasite, monazite and xenotime. These brownish minerals contain neodymium, one of the rare earth elements used in the magnets that allow smartphone speakers to play music and the vibration motor that notifies you of new, funny cat videos on social media,” the USGS stated.

Almost as varied are the sources. “For instance, the industrial sand used to make the quartz in smartphone screens may come from the United States or China, but the potassium added to enhance screen strength could come from Canada, Russia or Belarus. Australia, Chile and Argentina often produce the lithium used in battery cathodes, while the hard-to-come-by tantalum—used in smartphone circuitry—mostly comes from Congo, Rwanda and Brazil.”

Rwanda and the Democratic Republic of Congo are also sources of conflict minerals.

“With minerals being sourced from all over the world, the possibility of supply disruption is more critical than ever,” Meinert emphasized.

The April 4 article follows a previous USGS report on an early warning system used by the U.S. Defense Logistics Agency to monitor supply threats. In January the USGS released a list of 20 minerals for which the country relies entirely on imports. Whether or not by design, the recent awareness campaign coincides with a bill before U.S. Congress calling on government to support the development of domestic deposits and supply chains for critical minerals.

See an illustrated USGS report: A World of Minerals in Your Mobile Device.

Read about the West’s dependence on non-allied countries for critical minerals here and here.

Elon Musk’s hidden agenda

April 1st, 2017

As he makes sci-fi reality, what on Earth motivates his mission to Mars?

by Greg Klein

He’s making sci-fi reality, but what on Earth motivates his mission to Mars?

A pioneer ponders her new planet, but the truth is down here. (Image: SpaceX)

 

Just two days ago—March 30—Elon Musk pulled off yet another stunning techno-coup by launching a pre-used rocket then landing it intact, ready for further re-use. Not only does that rate as a truly historic achievement, but it marks another milestone in his audacious plan to colonize Mars. Just what drives this guy?

His CV is phenomenal. Musk started with Zip2 and PayPal, went on to build the world’s most coveted electric cars, then supplemented them with a country-wide network of fast recharging stations and a growing empire of Gigafactories that he’ll likely merge with his unprecedented vertically integrated Solarcity green energy utility/storage battery company.

He’s making sci-fi reality, but what on Earth motivates his mission to Mars?

Whether with awe, apprehension or impatience, the first
Martians-to-be prepare to disembark at their new home.
(Image: SpaceX)

He’s actually booked tourists for a 2018 around-the-moon cruise. He’s pushing extraordinarily high-speed, long-distance pneumatic tube travel, musing about Internet access in outer space and working to wire people’s brains to computers.

Yes, he loses money on every Tesla he sells and a couple of his Falcon 9 rockets blew to smithereens. But Musk’s stunning success record would seem to make science fiction plausible. Has he finally strained credibility with the Mars colony? And, again, just what drives this guy?

As to the first question, a surprising number of experts consider the idea viable. Musk’s SpaceX, already in the business of transporting cargo and satellites into orbit, plans unmanned Mars trips in 2018 and 2020. The company has modelled craft that would initially ferry 100 people at a time on an 80-day voyage for about US$200,000 each. Later ships with greater capacity and a 30-day trip time would cut fares dramatically. Upwards of 10,000 return voyages within 40 to 100 years would give Mars an Earthling diaspora numbering one million people, enough to create a self-sustaining civilization, he claims. Necessities like air, water, food and radiation protection can all be realized, he insists.

The visionary CEO sees the first colonists arriving well within a decade.

But why does he strive for this, when he has his hands more than full with other soaring ambitions? And, with all the possible pitfalls, why risk capping a phenomenal career with monumental failure?

He’s making sci-fi reality, but what on Earth motivates his mission to Mars?

No symbolism is too obvious
for a little country.
(Image: SpaceX)

Musk speaks of our eventual extinction on Earth. But according to battery expert Raymond Tylerson, Musk’s real motivation lies in his need for resources. They’re not the extraterrestrial kind sought by those who would mine the heavens. They’re right here on Earth.

Almost completely overlooked in the mania about the battery minerals graphite, cobalt and lithium has been one essential ingredient, points out Tylerson. That’s lithium’s near-namesake, lithuanium.

“For every bushel of graphite, cobalt and lithium that goes into these suckers, you need only one demi-iota of lithuanium,” he explains. “That doesn’t sound like much until you realize it’s absolutely the most scarce commodity on the planet.”

Moreover, as its moniker memorializes, it’s found in only one place—the uniquely lithuanium-lush lithology of Lithuania. That gives the little country a lockhold on the most critical mineral of all.

Emma Rothstein recognizes the danger. A psychologist who specializes in nationwide borderline personality disorders, she says, “For its entire existence, Lithuania’s been pushed around by big country bullies. Now it’s fighting back. Make no mistake, this little country has big, big ambitions. It wants to achieve on an inter-galactic scale the domination it can’t possibly achieve on Earth. With their monopoly on lithuanium, Lithuanians have forced Musk into their service.”

Classified documents released by the Transparency Foundation confirm that Lithuania has guaranteed Musk exclusive rights to lithuanium provided he carries out the country’s expansionist agenda.

Not only might Musk be the one person most likely to succeed at interplanetary travel, but Lithuanians might be the one people most likely to succeed at interplanetary colonization.

“I mean, who the hell else would want to go?” asks Rothstein. “That 80-day trip would be worse than a group package vacation. It brings to mind the saying that hell is other people. By the time they’d arrive the colony would be screwed because they’d all hate each other’s guts. But not so with Lithuanians. They’ve always co-operated with each other despite the fact that they’ve always hated each other’s guts.”

But Musk faces formidable competition, she adds. “I recognized that as soon as NASA reported it was growing potatoes in a Mars-like environment. It was so obviously just another outcome of Little Country Syndrome.”

This little country is actually a province, tiny Prince Edward Island.

“Imagine what it’s been like, to start off as the birthplace of Canadian confederation only to find yourself by far the puniest province with the puniest population and an economy based almost entirely on potatoes. Puny PEI and its puny potato-pulling people carry an inter-galactic grudge matching that of Lilliputian Lithuania.

He’s making sci-fi reality, but what on Earth motivates his mission to Mars?

Musk: Could there be
something different about him?

“Don’t underestimate these pushy little people,” she warns. “They’ve already taken over NASA. Mars might be next.”

So who’s poised to win the burgeoning battle for the universe? “My money’s on anyone backed by Musk,” declares Kyle McCormick, a professor of sociological astronomy. “He doesn’t just talk about an interplanetary species. He comes from one himself. You don’t think he accomplished all that with Earthling expertise, do you? Listen to his speech, look at his eyes—he’s more alien than Mr. Spock.”

Then what’s he doing here?

“He just had to get away from his own planet,” McCormick responds. “Musk considers it a really tiresome, insufferably do-good crunchy granola save-the-endangered-whatever environmentally superior place. He’s sick to death of all that clean energy crap. Once he saves up enough trillions he intends to buy the entire U.S.A., pave it and compel everyone to drive around all day in huge dangerous noisy stinking gas-guzzling vehicles.

“He wants to turn America into one big monster truck extravaganza. And fossil fuels will be mandatory.”

 

Related news:
Juniors, brokers, promoters desert Toronto to revive the Vancouver Stock Exchange.
Ontario Ring of Fire development begins.
Mining company inspires Canadian political reform.

92 Resources begins metallurgical tests on NWT lithium

March 28th, 2017

by Greg Klein | March 28, 2017

A Northwest Territories lithium project gets its first-ever metallurgical studies as 92 Resources TSXV:NTY announced a two-phase program on March 28. The 1,659-hectare Hidden Lake property underwent channel sampling last year on four of six known lithium-bearing spodumene dykes, with the best intercept showing:

  • 1.58% Li2O and 31 ppm Ta2O5 over 8.78 metres

  • (including 1.78% Li2O and 31 ppm Ta2O5 over 6.93 metres)
92 Resources begins metallurgical tests on NWT lithium

Hidden Lake’s metallurgical tests follow
last year’s successful sampling program.

The met program’s first phase examines the property’s spodumene and waste materials, leading to a mineral processing phase intended to separate the two and produce a high-grade concentrate.

Material from four pegmatites will be evaluated separately and, if no significant differences are found, a single composite will undergo processing tests. Those tests would include grinding, heavy liquid separation, magnetic separation and flotation. Plans then call for a preliminary flowsheet and a small amount of potentially marketable spodumene concentrate.

The program will also evaluate potential tantalum recovery.

Hidden Lake has all-weather road access to Yellowknife, 45 kilometres southwest. Carrying out the tests will be SGS Canada, which has considerable experience in spodumene pegmatite processing, 92 Resources stated.

In northern Quebec, 92 Resources has initial lithium exploration planned for Pontax, a 5,536-hectare property in a district known for spodumene-bearing pegmatites as well as gold potential.

Earlier this month the company expanded its Golden frac sand project from 807 hectares to 3,211 hectares. The southeastern British Columbia property sits adjacent to the Moberly silica sand project, now being redeveloped into a frac sand operation and among the assets sought by Northern Silica in its takeover bid for Heemskirk Consolidated.

Late last month 92 Resources closed an oversubscribed private placement of $895,199.

Far Resources readies Phase II drilling at Manitoba lithium project

March 27th, 2017

by Greg Klein | March 27, 2017

Far Resources readies Phase II drilling at Manitoba lithium project

A Dyke #1 outcrop shows
spodumene-bearing pegmatite.

Scheduled to begin imminently, a second drill program will focus on Dyke #1 at Far Resources’ (CSE:FAT) Zoro lithium property in Manitoba’s Snow Lake region. Targets have been identified as the company refines its 3D model, incorporating previous drilling data and historic field work.

The historic work found support in last year’s Phase I, in which all seven holes revealed lithium-bearing pegmatite, with intercepts grading up to 1.13% Li2O over 12.1 metres and 1.1% over 23.4 metres.

Zoro can be accessed via highway and helicopter, or by boat, road and ATV. The property sits five kilometres from transmission lines and 30 kilometres from rail.

In New Mexico, Far Resources has due diligence underway on the Winston silver-gold project, home to past-producing mines. Should the deal be consummated, a summer program of six to eight holes would follow.

Having closed an oversubscribed private placement of $231,000 in November, the company now plans to issue one million shares at $0.10 to compensate some of Zoro’s Phase II contractors.