RE:I did more DD and this is what I found. 2 - and Im in now."mightywyatt" well done, I do like the new name "Neo Battery" it fits the new project with Belmont partnership at the Kibby Lithium Project in Nevada, just up from Clayton Valley. It was a Buy for me yesterday, and indeed I am very optimistic as the area has become extremely hot in terms of exploring for Lithium and Rare Earths. ( Yes; I like the group managing both Neo Battery and Belmont, good track record for both management groups). PAN ANDEAN MINERALS LTD. ANNOUNCES NON-BINDING LOI WITH BELMONT TO ACQUIRE LITHIUM PROJECT INTEREST
Pan Andean Minerals Ltd. has entered into a non-binding letter of intent (LOI) agreement with Belmont Resources Inc. to acquire a 25-per-cent interest in the A block of the Kibby basin lithium project.
Belmont is the owner of the property known as the A Block, located 65 kilometres north of Clayton Valley, Nevada, United States (2,971-acre, 1,202-hectare claim block).
The Kibby lithium property is approximately halfway between Las Vegas and Reno and located 65 km north of Clayton Valley basin with Albemarle Corp.'s lithium brine producing operations (Silver Peak mine). Analyzing geophysical and drilling data, Belmont believes there is great potential for both brine and clay lithium in the Kibby basin.
"The Kibby lithium property adds significant upside potential to the company's position," said Spencer Huh, president and chief executive officer of the company.
This non-binding LOI allows for a 15-day period which Pan Andean will perform due diligence on the A block.