Demand for Lithium Expected to Rise 500% by 2050

Lithium is an important component in the manufacture of electric vehicle batteries. According to the Canadian government, lithium demand is expected to climb 500% by 2050 due to increased domestic battery manufacturing and a more forward-thinking transportation ecology. After trading at record highs in 2022, the price of lithium is projected to vary this year but remain supportive of new projects, at least in the short term, according to analysts. Stellantis (NYSE:STLA) CEO Carlos Tavares recently said he believes there might not be enough raw materials on the planet to satisfy EV demand. North American lithium production provides for less than 2% of current world consumption. In this environment, some countries risk crucial minerals becoming a bottleneck rather than an enabler in the energy transition phase. As a result, the US and Canada have prioritized the development of a supply chain for lithium and other important minerals. The anticipated supply shortage for lithium could lead to higher prices for the metal for a longer period of time and benefit companies like Usha Resources Ltd. (TSXV:USHA) (OTCQB:USHAF), Standard Lithium (TSXV:SLI) (NYSE-A:SLI), Sayona Mining Limited (OTCQB:SYAXF), and Rio Tinto (NYSE:RIO).

Usha Resources Ltd. (TSXV:USHA) (OTCQB:USHAF) is a mineral exploration and acquisition company in North America. Its main goal is to find drill-ready battery and precious metal opportunities. The company’s portfolio includes its flagship Jackpot Lake lithium brine project in Nevada. the Lost Basin gold-copper project in Arizona, the Nicobat nickel-copper-cobalt project in Ontario and most recently, the White Willow lithium-tantalum project in Ontario.

On April 4, Usha Resources announced the acquisition of its second hard-rock lithium asset, the Nym Property, which is located in the Thunder Bay Mining Division near Atikokan, Ontario. 

The Nym property is contiguous with Usha’s recently acquired hard-rock lithium property, the White Willow Lithium-Tantalum Project in Ontario and expands the existing 712 claim block to a total of 720 claims, adding 170 hectares to the 15,510 hectares already optioned. The property is located near other lithium projects such as the Separation Rapids Lithium Deposit, the Georgia Lake Pegmatite Field, and the Seymour Lake Lithium Project, where Green Technology Metals has identified a 9.9 Mt resource at 1.04% lithium oxide (Li2O).

The White Willow property features a fertile lithium-cesium-tantalum (LCT) system with two well developed LCT-pegmatite dikes, with limited exploration work revealing samples with concentrations as high as 0.5% Li2O and 14.64% tantalum oxide (Ta2O5) in and around the dikes. Very high lithium concentrations were discovered by surface sampling, some of which tested at or above 0.40% Li2O. Tantalum and cesium are also abundant on the property, with two samples suggesting 3.41% and 3.78% Ta2O5. The existence of high-grade tantalite signals the presence of higher-grade lithium in surrounding LCT-system zones.

Like White Willow, the newly acquired Nym Property is under explored, with just three of 119 mapped pegmatites reported. However, previous drilling has identified pegmatite intersections up to  40 meters thick, suggesting highly fractioned LCT-pegmatites that bear spodumene and other LCT-minerals.

Both of these recent acquisitions are complementary to Usha Resources‘ 100%-owned Jackpot Lake Lithium Brine Project in Nevada, where it has recently tripled its land position and is progressing with its maiden drill program to produce a 43-101 resource. 

According to a recent update from the company on its operations at the Jackpot Lake Lithium Brine Project, the exploration team discovered a high-porosity zone of sand followed by conglomerate commencing at 1,533 feet. The drill program’s second hole (JP22-2) has reached 1,755 feet.

For more information about Usha Resources Ltd. (TSXV:USHA) (OTCQB:USHAF), click here. 

Mining Companies Are Investing in New Projects

Stellantis N.V. (NYSE:STLA) announced on March 22 that it will invest more than €130 million in Germany’s Eisenach Assembly Plant, which produces the Opel Grandland compact SUV, to add manufacturing of the BEV replacement vehicle, which will be constructed on the all-new STLA Medium platform. The new BEV will go into production in the second half of 2024. The addition of a BEV to Eisenach’s output supports Opel’s audacious promise to a fully electrified model range in Europe by 2028. The current generation of the Opel Grandland offers plug-in hybrid models. To meet consumer demand for BEVs, Stellantis will spend more than €30 billion on electrification and software through 2025.

Standard Lithium (TSXV:SLI) (NYSE American:SLI) announced on March 28 that, to the best of its knowledge, it has sampled the highest certified lithium grade brine in North America, with a grade of 634 mg/L lithium, as part of its substantial resource expansion operations in the East Texas Smackover region. According to Standard Lithium‘s experience, a higher grade of lithium frequently results in lower overall costs. The quality of lithium in brine used for Direct Lithium Extraction (DLE) has a significant impact on both capital expenditures and operating costs linked to the extraction process.

On March 30, Piedmont Lithium Inc. and Sayona Mining Ltd (OTCQB:SYAXF) announced the successful restart of commercial spodumene concentrate production at the two companies’ co-owned North American Lithium (NAL) project in Quebec. The only significant source of fresh spodumene production anticipated in North America for the next two years is NAL’s $US80 million restart, which was completed on schedule and within budget. Sayona intends to start shipping commercially in the third quarter of 2023, when it will be able to produce 226,000 metric tonnes annually. One of three projects of Sayona Quebec, a partnership between Sayona (75%) and Piedmont (25%), is NAL. By the end of 2023, Sayona anticipates four shipments from NAL totaling up to 120,000 metric tonnes, serving significant battery and electric vehicle producers including LG Chem and Tesla.

Rio Tinto (NYSE:RIO) and First Quantum Minerals have agreed to form a joint venture to advance the development of Peru’s La Granja copper project, one of the world’s largest undeveloped copper resources. La Granja is a complex ore body in Cajamarca, Northern Peru, with the potential to be a major, long-life operation and a published Indicated and Inferred Mineral Resource totaling 4.32 billion tonnes at 0.51% copper. To move the project forward, the joint venture will pool Rio Tinto and First Quantum Minerals’ experience, expertise, and resources. Subject to regulatory approvals, the transaction is anticipated to be completed by the end of the third quarter of 2023. First Quantum will then operate the La Granja project as the majority owner, with the initial focus being on completing the feasibility study.

Usha Resources just closed a non-brokered private placement of 9,230,769 units at $0.325 each, bringing in a total of $3 million in gross proceeds.

Featured Image MegaPixl @ Luftklick

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6) This document contains forward-looking information and forward-looking statements, within the meaning of applicable Canadian securities legislation, (collectively, “forward-looking statements”), which reflect management’s expectations regarding Usha Resources Ltd.’s future growth, future business plans and opportunities, expected activities, and other statements about future events, results or performance. Wherever possible, words such as “predicts”, “projects”, “targets”, “plans”, “expects”, “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “anticipate” or “does not anticipate”, “believe”, “intend” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative or grammatical variation thereof or other variations thereof, or comparable terminology have been used to identify forward-looking statements. These forward-looking statements include, among other things, statements relating to: (a) revenue generating potential with respect to Usha Resources Ltd.’s industry; (b) market opportunity; (c) Usha Resources Ltd.’s business plans and strategies; (d) services that Usha Resources Ltd. intends to offer; (e) Usha Resources Ltd.’s milestone projections and targets; (f) Usha Resources Ltd.’s expectations regarding receipt of approval for regulatory applications; (g) Usha Resources Ltd.’s intentions to expand into other jurisdictions including the timeline expectations relating to those expansion plans; and (h) Usha Resources Ltd.’s expectations with regarding its ability to deliver shareholder value. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this document including, without limitation, assumptions about: (a) the ability to raise any necessary additional capital on reasonable terms to execute Usha Resources Ltd.’s business plan; (b) that general business and economic conditions will not change in a material adverse manner; (c) Usha Resources Ltd.’s ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; (d) Usha Resources Ltd.’s ability to enter into contractual arrangements with additional Pharmacies; (e) the accuracy of budgeted costs and expenditures; (f) Usha Resources Ltd.’s ability to attract and retain skilled personnel; (g) political and regulatory stability; (h) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (i) changes in applicable legislation; (j) stability in financial and capital markets; and (k) expectations regarding the level of disruption to as a result of CV-19. Such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of Usha Resources Ltd. to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: (a) Usha Resources Ltd.’s operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations; (b) public health crises such as CV-19 may adversely impact Usha Resources Ltd.’s business; (c) the volatility of global capital markets; (d) political instability and changes to the regulations governing Usha Resources Ltd.’s business operations (e) Usha Resources Ltd. may be unable to implement its growth strategy; and (f) increased competition.

Except as required by law, Usha Resources Ltd. undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Neither does Usha Resources Ltd. nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this document. Neither Usha Resources Ltd. nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this document by you or any of your representatives or for omissions from the information in this document.

7) Any graphs, tables or other information demonstrating the historical performance or current or historical attributes of Usha Resources Ltd. or any other entity contained in this document are intended only to illustrate historical performance or current or historical attributes of Usha Resources Ltd. or such entities and are not necessarily indicative of future performance of Usha Resources Ltd. or such entities.

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