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Kwantes says why to buy Lithium X
2016-01-13 21:47 ET - In the News
Shares issued 39,068,232
LIX Close 2016-01-13 C$ 0.41
James Kwantes, in the Dec. 30, 2015, edition of Resource Opportunities, tells readers why to buy Lithium X Energy Corp., recently 43.5 cents. This is the first time he has recommended the stock. Lithium X listed on the TSX Venture Exchange in late November. Mr. Kwantes is impressed with its people, particularly major shareholder Frank Giustra, chief executive officer Brian Paes-Braga ("a dynamic young investment banker") and executive chairman Paul Matysek, who has a long history of managing and selling companies. He was the founder and CEO of Energy Metals (which was sold to Uranium One in 2007), then the president and CEO of Potash One (which was sold to K+S AG in 2011), and then the president and CEO of Lithium One (which merged with Australia's Galaxy One in 2012). Lithium X is planning a 2016 drill program at its Clayton Valley North prospect in Nevada and recently raised over $3.2-million through a non-brokered private placement. In a news release about the placement, Mr. Matysek said the company was already fully financed for 2016 but wanted to "fortify [its] treasury to potentially take advantage of other opportunities in the tight lithium space." Mr. Kwantes concludes that Lithium X is worth watching.