LEXG, more Telsa factory news! Read this from March:
Lithium Exploration Group CEO Comments on Tesla's Lithium-Ion Battery Plans
By
Published: Mar 3, 2014 11:55 a.m. ET
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SCOTTSDALE, AZ, Mar 03, 2014 (Marketwired via COMTEX) -- 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.
Sincerely, Alex Walsh CEO
Lithium Exploration Group OTCQB: LEXG
About Lithium Exploration Group Lithium Exploration Group is a US-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 lithium assets, testing its Ultrasonic Generator Technology and the acquisition of oil and gas related assets in Western Canada. Lithium Exploration Group is a fully reporting company traded on the OTCQB under the symbol LEXG. Website: www.lithiumexplorationgroup.com.
