Tuesday, January 23, 2018 12:41:17 PM
From its headquarters in Vancouver, WCTXF has a portfolio of projects squarely focused on both lithium and cobalt in some of the most politically stable areas of the world, including the Atacama Salar in Chile that producers some 37% of the world’s lithium, two properties in Nevada, the only lithium-producing region in North America, and a series of claims across two projects in the Cobalt Mining District in Ontario, Canada.
As it strategizes exploration of the lithium properties and looks to add more, initial efforts are centered on the two adjoining cobalt properties in Ontario: Teledyne, which the company has held for a while, and Glencore Bucke, which was recently purchased from Glencore.
“We saw what was coming with the EV business and wanted to position ourselves in mining-friendly jurisdictions known to have prolific reserves of high-quality, low-cost cobalt and lithium,” said Fernback. “To have Glencore, the most well-respected cobalt miner in the world, as a potential partner certainly provides plenty of incentive for us to move expeditiously forward with exploratory work to prove-up reserves in Ontario.”
Fernback was referencing the terms of the acquisition that allows Glencore several options to work with Lico at various levels, including a 50/50 joint venture, in the future on both Teledyne and Glencore Bucke should reserves reach certain milestones.
Since announcing the deal to acquire Glencore Bucke in September, Lico mobilized rigs immediately and has completed 27 drill holes (3,100+ meters), with assays arriving weekly as it moves through its NI 43-101 plan. Drilling to date has been successful, showing small-vein, high concentration (3%+) cobalt underground. The company is actively working to expand the land package and the proven mineralization from its property that produced 4.35 million pounds of cobalt and 980,000 ounces of silver during historic mining from 1905-1961.
There are little indications that the EV movement is going to slow. In fact, it looks like it is only going to continue to gather steam, no matter what policies Congress haggles over in the coming months. The plug-in revolution is not near-sighted as Washington often seems to be. Its impact is only starting to be felt now, but it reaches decades down the road, which is aligned with the mindset investors should have with investment strategies seeking to capitalize on the space.
https://lithiumstocknews.com/2017/12/11/electric-vehicle-revolution-unencumbered-by-trump
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