Surge Battery Metals Inc. V.NILI

2023 Recap & 2024 Outlook

[MarketMakerss]

From publishing its highly encouraging 2022 drilling results to executing another successful drilling season in 2023, Surge Battery Metals (NILI.v NILIF) completed a successful year at its high-grade near-surface lithium claystone discovery at the Nevada North Lithium Project, setting the groundwork for filing its permit application for the Exploration Plan of Operations, a major milestone event.

 

Lithium Market

Despite share prices of lithium companies suffering across the board amid the deterioration of the lithium carbonate spot price during the year, NILI still had a strong year-over-year performance amid optimism that lithium prices will rebound ahead of the looming demand/supply imbalance in the future.

 

With repeated calls for the massive investments needed to meet consumer demand for EV's, compounded by ambitious government targets and automakers assuring the mass adoption of EV's, there is a range of factors set to have a significant influence on domestic lithium supply and demand.

 

Amid this dynamic landscape, NILI has a unique opportunity to become a supplier to the "Made in America" lithium battery marketplace due to the US government's efforts to incentivize EV purchases and the build-out of a secure domestic mine-to-battery supply chain.

 

Nevada North Lithium Project

In accelerating the development of Nevada North, NILI is on track for a breakout year with a range of significant developmental milestones in the pipeline including the maiden MRE and completion of test work to fully optimize lithium recovery in the flow sheet in Q1.

 

Mid-year, NILI will be applying to reclaim some of its 5-acre disturbance limit to continue to expand the knowledge of its lithium clay discovery, alongside working closely with the Bureau of Land Management on its Exploration Plan of Operations permit application.

 

The application is set to provide up to 250 acres of disturbance, marking a major permitting milestone in allowing for in-fill drilling to further define the current mineral resource area and allow for the possible expansion of the known discovery area.

 

To confirm the potential economic viability of the project, NILI's final planned milestone catalyst of the year will be the completion of a Preliminary Economic Assessment.

 

For more information, refer to NILI's latest shareholder update: https://surgebatterymetals.com/surge-battery-metals-provides-update-to-shareholders/

 

Additionally, NILI CEO covered its 2023 highlights and 2024 outlook in this interview with StockstoWatch: https://youtu.be/1YPvR_HCC4I?si=k0rt_ioiqIq_UnAk

 

Posted on behalf of Surge Battery Metals Inc.