David Pescod on rmAugust 14, 2009
(V-BXI)
$1.28 -0.01
RODINIA MINERALS
(V-RM)
$0.64 +0.05
MEDICAGO INC.
(V-MDG)
$0.45 n/c
WAVEFRONT ENERGY
(V-WEE)
$0.59 -0.01
VERB EXCHANGE
(V-VEI)
$0.075 n/c
We aren’t giving Letourneau much time to linger as one
always wants updates on his top three and for him, there
have been some changes. First we should note his idea of
taking some off the table on his Bio-Extraction (BXI) was
timed almost perfectly as that protein story had been a
rocket ship due for a pause.
With the excitement returning to the markets, it’s hard
to believe there is actually a life to be had out there away
from the markets—but apparently there are still some that
truly can get away from it all.
Take Jim Letourneau, the hydrologist and editor of
“The Big Picture Speculator.” The last ten days or so, he
spent on a safari in South Africa and Botswana and had
some experiences he will never forget. On safari, in a con-
verted Range Rover, he and a group were watching a leop-
ard stalk a herd of impalas just a short distance away and
it was something he said he will never forget. The settings
out of South Africa he suggests, are simply out of this
world as well. Oh, by the way, the impalas that were
stalked for almost 30 minutes, got away!
Jim’s top three is of interest. Given his hydrology
background, his current number two pick is of note—
Rodinia Minerals (given the decision by GM who announced
a lithium-battery plant in Michigan, lithium stocks have
been the story of the day of late). Letourneau prefers the
brine-solution answer of Rodinia compared to the hard
rock of others.
His number three pick remains Medicago (to us, this
maybe quite timely—a son just returned from travel in
Mexico, is very sick and being tested for Swine Flu, which
is one of the possibilities).
His number one pick remains Wavefront Energy although
it has provided little joy of late. He says all the big con-
tracts he had been hoping for, have become little con-
tracts, but he says they still have huge belief in the tech-
nology.
We also have huge hopes for Wavefront and its tech-
nology, but for the story of the day (lithium) and his pick of
Rodinia, we have Don Mosher who is the President of
Rodinia write a brief piece on what the company is actually
all about and also we ask, while we had him, to write about
a stock pick that might make a speculator a few bucks or
two.
Bio-Extraction
Rodinia Minerals
Page 2
David Pescod 780-408-1750
Debbie Lewis 780-408-1748
Fax: 780-408-1501
Mosher writes, “Lithium is becoming a very hot com-
modity due to the need for advanced battery technology
in the auto sector. South America produces most of the
world’s lithium from lithium brines located in Chile and
Argentina as a byproduct of potash production.
Brine based production is much cheaper than hard
rock production and led to the closing of most hard rock
production 20 years ago. President Obama recently an-
nounced a US$2.4 billion in grants to accelerate the
manufacturing and use of next-generation car batteries
and electric vehicles, US agenda is going to demand US
based lithium production.
Rodinia Minerals Inc started to look at the acquisition
of a lithium project in the summer of 2008, we were very
fortunate in stumbling across Clayton Valley, Nevada.
The only lithium select brine production in North America
is from a 5000 acre (including evaporation ponds) plant
that has been in production since 1966. Nevada is the
most mine friendly jurisdiction in the US and in addition
our operation operates under placer regulations which
are less stringent than dealing with the regulations in the
hard rock world.
Rodinia’s project encompasses 50,440 acres sur-
rounding the facility and gives us the rest of the valley to
explore. We are exploring a resource that is contained in
a reservoir so a comparison to the oil and gas business
would be a better than looking at it as a traditional min-
ing business,. Drilling with a rotary drill and taking water
samples the same as drilling water wells, will determine
the lithium in our reservoir.
The USGS drilled 7 holes on our property in the 1970’s
indicating that the brines in the basin contain lithium in
solution at between 300 to 700 ppm with a sample as
high as 1000 ppm. In 1975, I.A. Kunasz of the American
Institute of Mining, estimated the mineral endowment of
Clayton Valley to be 750 million kg of lithium. A more
recent study by Price, Lechler, Lear and Giles in 2000,
suggests that significantly more lithium was released
into the Clayton Valley catchment by the weathering of
high lithium bearing rocks.
A recent 2D reflective seismic survey has produced 3
drill targets that we plan on drilling before the end of Au-
gust to a depth of about 400 metres. The drilling will be
followed up with a additional seismic giving us a detailed
profile of the valley followed by more drilling. It will take
an estimated 20 holes to give us a compliant NI 43-101
lithium resource. We are financed with $3.7 million in the
treasury and are going to move this project ahead as fast
as possible.”
Medicago Inc.
Wavefront Energy
Canada Lithium