NEW NEWS OUT NOW!!!
Mammoth Energy Group Estimates Demand for Lithium Market to Grow at 3-5% Compounded Average Growth Rate During Next 10 Years
NEW YORK, NY, Jul 15, 2010 (MARKETWIRE via COMTEX) -- Mammoth Energy Group Inc. (PINKSHEETS: MMTE) announced today that during the next ten years the demand for lithium is expected to grow at a compounded average growth rate (CAGR) of 3-5% per year.
"Internal estimates have looked at the overall market place and the race to build new alternative energy power sources for a variety of industries," said William Lieberman, President of Mammoth Energy Group.
Mammoth Energy Group has signed a Memorandum of Understanding with Salt Gold Inter Chile Limitada whose lithium concessions are located in the North West region of Chile in the heart of the Lithium belt stretching across Bolivia, Chile and Argentina. Initial test wells have confirmed average brine concentrations with grades of 650 ppm (parts per million) for lithium and 9500 ppm for potassium. These results confirm a significant third dimension to surface brines sampled on the project. The brine chemistry in the first test wells compares favorably to other Lithium companies in the region including the large multi-national Lithium producers whose estimates in the Atacama and throughout the region average 500 to 750 ppm Lithium and 9000-10000 ppm for potassium.
About Mammoth Energy Group Inc. (PINKSHEETS: MMTE) www.mammothenergygroup.com
Mammoth Energy Group Inc. is focused on acquiring, developing and operating strategic mining energy reserves in locations throughout the world. With an ever changing shift to alternative energy and fuels Mammoth Energy Group will be prepared to be a leading energy supplier and operator. Mammoth Energy's goal is to become an important partner as the world's energy paradigm begins to change throughout the next decade and beyond.
