Today Grid Battery Metals Inc. (CELL.v EVKRF) closed 4% up with high volume on the TSXV after an article was released today highlighting how critical mineral mining policies could set the company up for success.
Electric vehicles (EVs) are gaining popularity as a clean energy solution, with global EV sales surpassing 10 million in 2022 and an expected 1 million EVs to be sold in the U.S. in 2023. Batteries are crucial for decarbonizing transportation and energy storage, but they rely on critical raw materials like lithium, copper, nickel, and cobalt, raising Environmental Social and Governance (ESG) concerns.
As described in the article, the U.S. is also showing interest in domestic sourcing of these minerals, leading companies like Grid Battery Metals Inc. to gain attention.
Grid Battery Metals is focused on mining lithium and nickel, essential minerals for renewable energy solutions that are predicted to have increased demand.
The company has several mining operations, including the Clayton Valley Project, Volt Canyon Project, and the recently expanded Texas Spring Project in Nevada, which is adjacent to Surge's Nevada North Lithium Project (which returned concentrations values averaging 3254 ppm Li)
Additionally, Nevada's mining investment reputation makes it an ideal location for Grid Battery Metals' expansion.
Recently, the company secured CA$3 million through a private placement, adding to its existing funds of CA$4.5 million in the bank and CA$3.6 million in marketable securities.
The additional financing will be used for continued exploration efforts on existing mineral properties and to acquire additional strategic lithium exploration properties in the future.
Full article here: https://www.theglobeandmail.com/investing/markets/markets-news/AccessWire/18975159/as-esg-requirements-promote-onshoring-of-critical-mineral-mining-this-company-with-multiple-projects-in-worlds-most-mining-friendly-jurisdiction-could-be-one-to-watch/