Standard Lithium - most similar to ETMC in the peer group - market cap over $2 billion.
You can do the math on where ETMC share price is heading...
CALGARY, AB, Dec. 2, 2021 /CNW/ - E3 METALS CORP. (TSXV: ETMC) (FSE: OU7A) (OTCQX: EEMMF) (the "Company" or "E3 Metals"), an emerging lithium developer and leading direct lithium extraction ("DLE") technology innovator, is pleased to announce the first set of results from its Lab-Pilot Prototype (the "Prototype") that has been operating since October. The Prototype is E3's largest scale DLE system to date with two separate trains capable of brine flow rates of up to 120L/hr.
An initial series of eleven tests were conducted ahead of a multi-cycle test to determine the operating parameters for a long-run program. The equipment and automation performed as expected providing the base design for the long-run program with a high level of confidence. Measured in total recovery of lithium, the performance of the Prototype exceeded expectations. Peak recoveries were recorded as high as 97% during these tests. Across all of the tests, the average lithium recovery remained above 90%, generally up to 95% in most cases.
The Prototype is currently running the long-run test program with one form of the sorbent on Train 1. This test will be concluded in mid-late December with results expected in the new year. Train 2 of the prototype has begun the initial test of the second form of the sorbent with results also expected in the early new year.
"We are very excited about these results" commented CEO, Chris Doornbos. "These initial tests were not designed to maximize performance, but rather, understand the performance. The fact that we see such high recoveries in this continuous flow system in a 'set-up for testing' environment is incredibly encouraging as we look towards our process design of the pilot."
About E3 Metals Corp.
E3 Metals is a lithium development Company with 7.0 million tonnes of lithium carbonate equivalent (LCE) inferred mineral resources1 in Alberta and an NPV8% on its Clearwater Lithium Project of USD 1.1 Billion with a 32% IRR pre-tax and USD 820 Million with a 27% IRR after-tax1. Through the successful scale up its DLE technology towards commercialization, E3 Metals' goal is to produce high purity, battery grade, lithium products. With a significant lithium resource and innovative technology solutions, E3 Metals has the potential to deliver lithium to market from one of the best jurisdictions in the world.
For more information about E3 Metals, visit https://www.e3metalscorp.com.
ON BEHALF OF THE BOARD OF DIRECTORS,
Chris Doornbos, President & CEO
E3 METALS CORP.