Dec 2021 Lithium Market Recap December 2021 was an interesting month for lithium as it saw lithium spot prices rise significantly with prices higher than the previous month and hitting record levels.
These prices are expected to continue increasing as the electric vehicle and energy storage markets are booming.
The EV battery demand is going to be a large catalyst for the increase as the scramble for EV battery metals is beginning.
- Toyota is building a new $1.3B battery plant in North Carolina
- Ford is in need of EV batteries as electric F-150 reservations hit 200,000 units
- VW expects battery and raw material demand to drive the cost up to $34B
I'm betting on Portofino Resources ($POR.V $PFFOF) to help fill this gap after the promising update on their properties that they provided two weeks ago. The presence of lithium rich brines and values were found at all of $POR's properties with an impending drill program expected to begin at the beginning of 2022. Plus, they are set to acquire the promising Greenheart Lake and McNamara Properties.
https://themarketherald.ca/portofino-announces-lithium-properties-updates-and-acquisition-2021-12-14/
Info about the lithium market:
https://seekingalpha.com/article/4476396-lithium-junior-miners-news-for-the-month-of-december-2021