Despite rising rates, inflation, and an expected recession, energy metals such as lithium are still expected to remain in high demand due to the transition toward EVs and renewables. With more and more companies planning on transitioning their fleets to electric, we’re only just scratching the surface of future demand for energy metals. SQM, the world’s second-largest lithium producer, expects global lithium demand to rise by at least 40% this year while seeing record profits and revenues due to the elevated lithium prices.
https://ca.finance.yahoo.com/news/lithium-giant-says-global-lithium-143000703.html
Overall, with the newly raised $1.5M, exploration should be underway soon. Outside of China, Brazil is the dominant global producer of certain REEs, and with North America trying to reduce reliance on Chinese REEs, Brazil could see a huge increase in demand for REEs in the coming years on top of the already rising lithium demand. And as the company continues to develop, the current $2M valuation is providing a significant amount of upside when considering how much potential their Canadian and Brazilian property portfolio holds.