CELL's Strong Financials + Government Support for Lithium Grid Battery Metals Inc. (CELL.v or EVKRF for US investors) recognizes the importance of lithium and nickel in the production of essential battery metals and highlights the support from both Canadian and American governments.
CELL has emerged as a notable lithium explorer in Nevada, particularly with its Texas Springs Property, which sits adjacent to the southern border of the Nevada North Lithium Project which is owned by Surge Battery Metals (NILI.v) and has returned lithium values up to 8070 ppm.
The results from the first phase of the fall exploration program at Texas Springs have unveiled promising average lithium grades of 2010 ppm, with high-grade zones identified in both the northern and southern parts of the project area. The highest grade of lithium identified so far at Texas Springs is 5,610 ppm.
Financially robust, CELL enters the 2024 mineral exploration season with a cash balance of approximately CAD$5 million, supplemented by potential funding through warrant and option conversions.
With this cash position and the 2023 results in mind, CELL is set to intensify its efforts at Texas Springs in the 2024 exploration season.
The company's commitment to innovation and sustainability is exemplified by its plan to spin out its Canadian Nickel assets into a separate public entity, named AC/DC Battery Metals Inc., slated for listing on the TSX Venture Exchange in early 2024.
This move aims to maximize shareholder value and streamline the focus on each respective metal's market potential. Furthermore, it is in sync with major global players forecasting a substantial 200%-300% increase in nickel demand over the upcoming three decades.
More in CELL's Year End Update: https://gridbatterymetals.com/grid-battery-metals-provides-a-year-end-update/
Posted on behalf of Grid Battery Metals Inc.