Lithium Exploration Group is a U.S.-based exploration and development company focused on the acquisition and development potential of lithium brines and other precious metals that demonstrate high probability for near-term production. Currently, the company is focused on its Western Canada and South America properties. Lithium Exploration Group is a fully reporting company traded on the Nasdaq OTCBB under the symbol LEXG.
Lithium Exploration Group: Technology Overview
Mineral Rights to 650,000 acres on Valleyview project
|Oilfield Waste Disposal |
|Wardlow Facility (Tero Aquisition) Class 1B well ||Morinville Facility (BlueTap Resources Aquisition) |
Class 1B well - limited Class 1A status
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Lithium Exploration Group CEO Discusses Lithium Markets 8:45 AM ET 3/27/14 | Marketwire
Lithium Exploration Group Inc. (OTCQB: LEXG) CEO Alex Walsh discusses the recent activity and commentary around the lithium industry:
There have been a number of articles written in recent weeks about the lithium industry and I have personally received a huge influx of calls from shareholders and interested parties trying to get a handle on what is going on out there. I want to take a moment to answer some questions and comment on what is being reported in the media.
Tesla - Tesla's gigafactory concept is brilliant. It vertically integrates their operations, allowing for the Tesla brand to expand while controlling unnecessary third party costs and expenses in the supply chain.
-- Supply and Demand Discussion
-- Historically, lithium prices more than tripled over the 10-year period from 2000 to 2010. That demand was driven by iPods, cell phones, tablets, and laptops. There is roughly a two-year production cycle in the solar evaporation process to produce lithium from brine (which makes up a majority of the global supply of lithium) so, as demand increased, supply could not meet those needs, spawning huge spot price fluctuations.
-- Prices have stabilized in recent years near $6,000/ton but there have been reports of oversupply recently holding prices steady even though electric vehicles have continued to grow in popularity. I expect that this will change rapidly perhaps more rapidly than people can quantify because the amount of lithium needed in a car battery is one hundred times the amount required for a laptop computer or a tablet. Supply needs must be initiated now to meet the 2017 goal of Tesla, and I believe that Tesla will begin to acquire as much lithium supply as it can get its hands on in North America to further the vertical integration of the electric vehicle production and insulate it from price volatility.
-- When will that happen?
-- Only Elon Musk and his advisory team know for sure when this will happen, but it is not going to be an overnight decision. As they have with their expansion into the market, they will certainly look at all options, but I am confident that they will buy the lithium they need to run this gigafactory. SQM (Chile) is the largest producer of lithium in the world (and owned by Potash Corp of Saskatchewan). Tesla could easily acquire SQM and ensure their supply for decades to come. -- What does this mean for the rest of the global market? -- Strap on your seatbelts because there will be a frenzy of activity all over the globe trying to replace the 10,000 - 15,000 tons of lithium carbonate that Tesla will be consuming.
-- What does this mean for Lithium Exploration Group? -- I think that, at the end of the day, we have a separation technique designed to target lithium chloride and produce lithium carbonate, a 43-101 and hydrogeological study complete on the region and aquifer we are trying to target, and a technology that we hope will speed up the brine evaporation process from months to minutes. -- I don't know if Tesla will look to buy our knowledge, technology rights, our team, or our production but I do know that what they are doing to drive demand and visibility to the lithium exploration market will be good for us either way.
Sincerely, Alex Walsh CEO - Lithium Exploration Group, Inc
Lithium Exploration Group CEO Comments on Tesla's Lithium-Ion Battery Plans
SCOTTSDALE, AZ--(Marketwired - Mar 3, 2014) - On Friday, Tesla Motors Inc. CEO Elon Musk publicly discussed their plan to build the world's largest lithium-ion battery factory and locate it in the United States. At Lithium Exploration Group (OTCQB: LEXG) we are very excited to see this development from one of the industry giants.
We started exploring the concept of low cost production of lithium carbonate in Canada in 2011 for exactly this moment in time. With the successful testing of the technology we intend to use to extract lithium from oilfield brine in Alberta, we are ready to continue with bench scale testing of the separation technique we designed in 2012 to target lithium, potassium, and other minerals.
Most of the global supply of lithium carbonate is produced in Chile and much of that production is spoken for by Asian manufacturers of lithium-ion batteries. Much like Mr. Musk, we feel very strongly that the demand for lithium-ion batteries will be driven by applications associated with solar and wind power, which require significantly greater amounts of lithium than car batteries.
Markets are driven by supply and demand. Mr. Musk, Tesla, and Solar City have just changed the demand for North American lithium for decades to come.
Lithium Exploration Group
LITHIUM APPLICATIONS in the NEWS lately
PICTURE _ COURTESY TESLA.COM
Grid energy storage is becoming a tangible business opportunity for cleantech companies and automakers these days – it's all that's left of Coda, for example, and Toyota is open to the opportunities. Sun-power provider SolarCity has entered the market with DemandLogic, a smart energy storage system designed to deal with what it calls two major pain points for businesses: rising utility demand charges and increasing grid outages. SolarCity is using Tesla Motors' advanced battery technology to deliver the stored energy. Tesla's role in DemandLogic is providing the software that manages the discharge of stored energy. Of course, Tesla CEO Elon Musk is also Chairman of SolarCity and provided financing for the company many years ago. We first heard about the two companies working together on energy storage systems last year.
TESLA BATTERY CHASSIS
SolarCity will sell its storage systems through 10-year service agreements that require monthly payments but no upfront costs. SolarCity has also been interested in EV charging for many years.
Company Officers and Directors
|Alex Walsh ||CEO, President, Secretary, Treasurer, Dir. |
|Bryan Kleinlein ||CFO |