Far in the Northwest pocket of Argentina, in a boutique hotel located in the mountain city of San Salvador, a group of lithium analyst, reporters and investors pack into a small room to listen to the management team of an emerging lithium company, Lithium Americas (OTCPK:OTCQX:LACDD). The following day, the group of visitors would travel to the Olaroz-Cauchari basin to visit Orocobre’s (OTCPK:OTCPK:OROCF) extraction and production facilities and Lithium Americas site where they will soon construct the world’s next lithium brine facility. David Sidoo, CEO of Advantage Lithium (OTCPK:OTCQX:AVLIF) stands in front of the crowd who quietly listen to his opening remarks. He starts off by listing the company’s achievements in 2017 and the current status of the company and project, which include: $12million USD in the bank, large institutional and strategic investors in place with some of them under a lock-up agreement, and the ability of the company to attract local talent. Sidoo is sure to embark on the fact that 40% of the 135million shares outstanding are locked up with Orocobre, management, directors and insiders. On a fully diluted basis, Orocobre holds 29% of the company with management at 25%. The company has also been able to attract large investors such as CIBC who are ranked as their largest institutional investor.
Sidoo provides credit to the strong, local team on the ground in the province of Jujuy who have been instrumental in pulling permits and working with local communities. He dives deeper into the technical expertise who sit in his tent to move the Cauchari project forward. In addition to touting the team, he makes it clear that the objective with Cauchari is to move quickly to bring material to market. At present the company has 30 employees on staff.