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Bullboard - Stock Discussion Forum Recharge Resources Ltd C.RR

Alternate Symbol(s):  RECHF

Recharge Resources Ltd. is a Canadian mineral exploration company focused on exploring and developing the production of battery metals to create green, renewable energy to meet the demands of the electric vehicle and fuel cell vehicle market. The Company's projects include Brussels Creek, Murray Ridge (Pinchi Lake), Georgia Lake West & North, and Pocitos I - Salta, Argentina. Its Pocitos I is... see more

CSE:RR - Post Discussion

Recharge Resources Ltd > Billionaire Swaps Gold for Lithium
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Post by MarketMakerss on Dec 01, 2023 2:58pm

Billionaire Swaps Gold for Lithium

Unfazed by the collapse in lithium prices while gold remains above US$2040 per ounce, Billionaire Chris Ellison has stated his plan to swap gold for lithium. Supported by other industry experts and producers, including Albemarle, the world's largest lithium producer, the lithium market is still on track for a substantial long-term deficit, despite the current buildup of supply. (Source: https://www.afr.com/companies/mining/billionaire-ellison-says-he-ll-trade-gold-for-lithium-20231129-p5enu1)

With this in mind, Recharge Resources (RR.c RECHF) is poised for substantial growth as it pushes toward commercial production with a range of upcoming milestones at its Pocitos One Lithium Brine Project in Salta, Argentina.

Having completed drilling the third hole at Pocitos which achieved 169ppm lithium assay, RR is currently awaiting permits for its upcoming 3-well drill program to expand on the maiden resource and reclassify it to the proven and probable category.

Recently, RR announced the appointment of Philip Thomas, who has 20+ years of experience in Argentina, including the exploration and development of Rincon's Pilot Plant which was recently sold to Rio Tinto for $825M, as its Chief Operating Officer and Director.

Having worked on the project since 2017, Philip is RR's Qualified Person for the development of Pocitos, was the author of the NI 43-101 Maiden Report, and has extensive experience with Ekosolve's Direct Lithium Extraction Process, which achieved 94.92% extraction of lithium and produced 99.89% purity lithium carbonate at Pocitos.

RR's David Greenway, President, and CEO commented,
“I am delighted that Phillip is joining the team and we expect he will be able to make a significant contribution towards our goal of producing 20,000 tonnes of lithium carbonate per year. His indepth country knowledge of Argentina, and depth of experience is very rare to find. His appointment should make for an exciting next period for Recharge and its stakeholders at the Pocitos Project.”

Posted on behalf of Recharge Resources Ltd. 
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