BNN Bloomberg Highlights CELL's Strategic Li Exploration The demand for lithium is projected to surge eightfold by 2040, primarily driven by the growing adoption of electric vehicles and the expansion of energy storage systems. The demand is expected to surpass 1 million metric tons in 2024 and reach 2.5 million metric tons by 2030. Recognizing this trend, ExxonMobil is planning to enter the lithium production market in 2027, leveraging its expertise in drilling and processing to position itself as a significant player in the battery metal industry. This strategic shift reflects the recognition of the increasing importance of lithium in the context of the booming electric vehicle and energy storage sectors.
Source: https://www.baystreet.ca/stockstowatch/16421/There-are-Still-Plenty-of-Reasons-to-Get-Bullish-on-Lithium-Heading-into-2024
Enter Grid Battery Metals (Ticker: CELL.v or EVKRF for US investors), which, as highlighted in the BNN Bloomberg article below, is strategically positioning itself to emerge as a player in the expanding battery metal market. The company is focusing on the exploration of lithium and nickel, essential components of sustainable energy and electric vehicle batteries.
Grid Battery Metals' Texas Spring lithium property, an extensive 400-hectare expanse in Nevada's Granite Range, is adjacent to Surge Battery Metal's Nevada North Lithium Project, which recently reported lithium grades of up to 8070 ppm. As Texas Spring is situated in a mineral-rich region conducive to mining, Grid Battery Metals is prepared for exploration and eagerly anticipates the Phase 1 exploration results for Texas Spring.
In addition to Texas Spring, the company's Volt Canyon lithium property in Monitor Valley, Nevada, and its Clayton Valley collectively offer abundant opportunities for Grid Battery Metals.
Notably, Clayton Valley is near the Silver Peak Lithium Mine, aka the only permitted and producing lithium mine in North America.
With an unallocated working capital exceeding $5 million, the company adopts a cautious approach to project selection, ensuring alignment with the interests of its shareholders. CEO Tim Fernback emphasizes the importance of a robust treasury, enabling Grid Battery Metals to be discerning in its partnerships.
Grid Battery Metals' objective of supplying raw metals aligns with the strategic goals of industry leaders such as Ford, GM, Tesla, and Volkswagen, creating potential collaboration opportunities as the company progresses into production phases.
Full article here: https://www.bnnbloomberg.ca/grid-battery-metals-targets-ev-driven-demand-at-the-source-supplying-essential-lithium-and-nickel-1.1998490
Posted on behalf of Grid Battery Metals Inc