Volt Lithium Corp V.VLT

Exxon in talks with automakers for the supply of lithium

[MarketMakerss]

Following Chevron's stated interest in producing lithium, oil giant Exxon Mobil has officially begun talks with Tesla, Ford, Volkswagen and other automakers for the supply of lithium.

A range of major US oil companies are seeking to expand into lithium production to take advantage of the surging demand for use in electric vehicle batteries and as a way to diversify beyond fossil fuels. (Source: https://www.mining.com/web/exxon-in-talks-with-tesla-ford-volkswagen-on-supplying-lithium/)

One company that has emerged as a trailblazer in this sector is Volt Lithium (VLT.v VLTLF) with its focus on extracting lithium from oilfield brines.

VLT's innovative IES-300 DLE technology boasts impressive capabilities, enabling lithium recoveries of 90% from concentrations as low as 34 mg/L as well as 97% recoveries using 120 mg/L concentrations, all while maintaining commercial viability.

Plus, VLT made strategic collaboration with two cutting-edge nanotechnology labs, focused on removing contaminants from oilfield brine to use in VLT's DLE technology.

This milestone accelerates the potential for domestic lithium production while offering a compelling opportunity for oil and gas operators, presenting a win-win situation by adding value to existing oilfield operations and advancing VLT's efforts toward achieving commercially and economically viable lithium extraction.

VLT will initially be implementing its DLE production method at its Rainbow Lake Property which has a substantial lithium resource of 4.3 million tonnes and concentrations reaching up to 121mg/L. Set to be implemented by the second half of 2024, VLT later expects to produce 1,000 tonnes of lithium hydroxide by the end of June 2025, resulting in CA$42 million in revenue.

While the industry is oversaturated with juniors living on dilutive cheap financings and warrant exercises, VLT is one company that is getting serious money with institutional backing and likely going to soar once the money returns to the space.

For more information on VLT's capital structure, check out this StreetWise Reports article: https://www.streetwisereports.com/article/2023/07/28/hail-to-the-fed.html

Posted on behalf of Volt Lithium Corp.