Featured Company /
Bearing Lithium Corp.
Elon Musk and Tesla (NASDAQ:TSLA) shook up the electric vehicle market once again on Thursday, revealing their new electric tractor trailer with a 500-mile range that the company guarantees won’t break down for one million miles thanks in part to utilizing four independent motors. Demand is already there, with trucking company J.B. Hunt (NASDAQ:JBHT) reserving “multiple” semis, grocery chain/retailer Meier Inc. reserving four semis and Wal-Mart (NYSE:WMT) saying it too wants to try the trucks expected to be in production in 2019. Tesla also unveiled its new, blistering-fast Roadster, forecast to cost in excess of $200,000 and be delivered in 2020.
The news is the latest in a string of industry developments as the EV movement continues to gain momentum. In turn, the growth curve starting to take off is sparking concerns of supply shortfalls of metals necessary to make the Lithium-ion, or Li-ion, batteries powering the vehicles. The Tesla Model S, for example, requires 51 kilograms of lithium for its battery. Worries about deliveries of battery-grade lithium keeping up with demand have pushed prices skyward in recent years, including tacking on another 30+% this year to a record $12,000 per tonne.
As for high grade lithium, the world’s best comes from Chile, one corner in the vaunted “lithium triangle” of Chile, Argentina and Bolivia, home to over half of the world’s identified lithium resources. A closer look shows Chile to host the highest-grade lithium brine salars, more succinctly the Salar de Atacama, famous for its high-grade, low-cost operations that accounts for about 40% of global lithium production and 100% of Chile’s lithium production.
<< To See Why Chile Is The Number One Lithium Market Right Now, Click Here >>
If progress holds its course as it looks like it will, a watershed moment is on the horizon for Chile with another salar potentially coming online in the next three to five years. The Maricunga project is the highest-grade, undeveloped lithium salar in the Americas, second in lithium grade to only Salar de Atacama. Recognized as the highest-grade pre-production lithium brine project in the world, the Maricunga lithium project is a joint venture between Bearing Lithium Resources (TSX-Venture:BRZ)(OTCQB: BRGRF), privately-held Minera Salar Blanco and Lithium Power International (ASX:LPI) which prior to finalizing the Maricunga JV in Sep of 2016, was instrumental in growing the resource by 3.7 fold from the previous 2012 estimate.
Upon completion of earn-ins, Bearing Lithium will own 17.7%, Minera 32.3% and LPI will have 50%. What this ultimately means for Bearing Lithium is the eventual ability to be a low-cost producer in a potentially world-class project with a long mine life, something its mining peers could only dream of doing.
Bearing Lithium’s portfolio also contains a lithium project in the U.S. lithium hotspot of Nevada that it recently optioned to First Division Ventures and exploration gold projects in the Yukon that are optioned to Golden Predator, with Bearing keeping net smelter royalties at the properties as it focuses on Chilean lithium.
Over $30 million has been invested in the Maricunga project, primarily through the previous partners Minera and Li3 Energy, a company officially acquired by Bearing Lithium last month. Expenditures are inclusive of delivery of a preliminary economic assessment this quarter and a definitive feasibility study (DFS) expected in the first half of 2018. LPI has already earned a 32.5% interest and remains solely responsible for expenditures up to the DFS.
<< To Read Further Details On The Maricunga Joint Venture, Click Here >>
The 4,463-hectare project has the added benefit of having a significant proportion being grandfathered in under previous mining code, which allows for the immediate liberation of lithium from the salar. In Chile, only mining exploitation concessions initiated before 1979 are authorized for the exploitation of lithium. This is a competitive advantage for the JV compared to others in the area, such as mining giant Sociedad Quimica y Minera de Chile (NYSE:SQM), who is looking at having its hands tied by the government for the next five years.
Close to all the necessary infrastructure (port, roads, electricity, workers, etc.), the project hosts a National Instrument 43-101 Measured and Indicated resource of 1.7 million tonnes of lithium carbonate equivalent (LCE) at a grade of 1,143 mg/L lithium plus an Inferred resource of 400,000 tonnes of LCE at a grade of 1,289 mg/L. Commercial production is targeted between 2020-2022.
The recent exploration program tripled the previous M&I resource and shows promise for significant expansion. The current resource is defined only to a depth of 200 metres however drilling down to 360 metres ended in high-grade brine (877 mg/L Li). Seismic surveying and geophysics shows the potential for the basin to extend to 500 metres or more. All this bodes well for a much larger resource estimate than the 2.2Mt currently defined and would support a long production life.
<< For The Latest Maricunga NI 43-101 Resource Estimates, Click Here >>
As mentioned, Bearing Lithium closed on the acquisition of Li3 Energy in October. The acquisition was immediately accretive to Bearing, giving the company its stake in Maricunga and bringing a heavyweight partner to the table. Pohang Iron & Steel (NYSE:PKX), also known as POSCO, one of the world’s biggest steel makers, invested $18 million in Li3 and now holds a 7% stake in Bearing Lithium post-merger, as well as board seat. POSCO has developed a proprietary lithium extraction technology that recovered over 80% of lithium from brine in less than 8 hours with a faction of the environmental footprint of conventional recovery (evaporation ponds).
While LPI will be funding development at Maricunga in 2018, capital could be shaping up to keep moving forward expeditiously via potential new partners expressing interest in the prolific property. Friday morning, it was disclosed that the Chinese consolidated company Fulin Group penned a non-binding agreement with Minera to discuss an equity purchase in Minera to get into Maricunga. While no deal is guaranteed, the negotiations are reported to revolve around Fulin taking a significant position in Minera and providing the necessary equity and debt to fund construction and development costs for the project.
As for Bearing, the company has approximately C$2.0 million in its treasury, plenty to fund its obligations through the end of next year noting all near- and medium-term project expenditures are fully funded by its JV partner. A seasoned leadership team, enveloping 17 professionals experienced in all aspects of exploration, Chilean mining, finance, capital markets and more across its C-suite, board and advisors, has successfully raised capital to deleverage the Li3 acquisition and pad corporate coffers for continued growth.
<< For Details On Bearing Lithium’s Experienced Management Team, Click Here >>
With demand for lithium projected to grow 530% by 2030, it’s no wonder the space has been heating up of late. Witness the impressive rise of Millennial Lithium Corp. (TSX:ML), which rallied from $1.25 to $3.59, a 187% move in a matter of a month or Standard Lithium Ltd. (TSX-Venture:SLL) which took off in early September and currently finds itself up 130% in that short time frame. The stage is set for lithium, its peers are moving higher. With Bearing Lithium in such an envious fundamental position, it’s anyone’s guess where this stock could head next.
When all is said and done, Bearing Lithium can change what Chilean lithium production looks like by being the first to capitalize on the Maricunga salar. The company doesn’t make it a practice to bang the drum about the relationship with POSCO, but there are great implications to having an internationally known partner when the day comes to sell its products, albeit lithium or other minerals.
EVs may be supercharging lithium demand, but the white metal has countless other uses today that will feel the vacuum of car makers hoarding production. Point is there will be many opportunities to sell lithium worldwide, not to mention the likely integration of POSCO technology to produce lithium nearly on demand, which sets Bearing Lithium apart for similar-sized peers, many of which are enjoying a larger market capitalization without the underlying fundamental strengths of Bearing.
<< Click Here To Read The Investor Presentation For Bearing Lithium >>
Corporate Snapshot:
Bearing Lithium Corp.
Stock Symbol:
CA
Stock Exchange:
TSX-Venture
Sector:
Basic Materials
52 Week High:
$1.8300
52 Week Low:
$0.4500
Alt Exchange/Ticker:
OTCQB:BRGRF
Current Stock Quote / Chart / News: Click here
Information as of
November 27, 2017
Elon Musk and Tesla (NASDAQ:TSLA) shook up the electric vehicle market once again on Thursday, revealing their new electric tractor trailer with a 500-mile range that the company guarantees won’t break down for one million miles thanks in part to utilizing four independent motors. Demand is already there, with trucking company J.B. Hunt (NASDAQ:JBHT) reserving “multiple” semis, grocery chain/retailer Meier Inc. reserving four semis and Wal-Mart (NYSE:WMT) saying it too wants to try the trucks expected to be in production in 2019. Tesla also unveiled its new, blistering-fast Roadster, forecast to cost in excess of $200,000 and be delivered in 2020.
The news is the latest in a string of industry developments as the EV movement continues to gain momentum. In turn, the growth curve starting to take off is sparking concerns of supply shortfalls of metals necessary to make the Lithium-ion, or Li-ion, batteries powering the vehicles. The Tesla Model S, for example, requires 51 kilograms of lithium for its battery. Worries about deliveries of battery-grade lithium keeping up with demand have pushed prices skyward in recent years, including tacking on another 30+% this year to a record $12,000 per tonne.
As for high grade lithium, the world’s best comes from Chile, one corner in the vaunted “lithium triangle” of Chile, Argentina and Bolivia, home to over half of the world’s identified lithium resources. A closer look shows Chile to host the highest-grade lithium brine salars, more succinctly the Salar de Atacama, famous for its high-grade, low-cost operations that accounts for about 40% of global lithium production and 100% of Chile’s lithium production.
<< To See Why Chile Is The Number One Lithium Market Right Now, Click Here >>
If progress holds its course as it looks like it will, a watershed moment is on the horizon for Chile with another salar potentially coming online in the next three to five years. The Maricunga project is the highest-grade, undeveloped lithium salar in the Americas, second in lithium grade to only Salar de Atacama. Recognized as the highest-grade pre-production lithium brine project in the world, the Maricunga lithium project is a joint venture between Bearing Lithium Resources (TSX-Venture:BRZ)(OTCQB: BRGRF), privately-held Minera Salar Blanco and Lithium Power International (ASX:LPI) which prior to finalizing the Maricunga JV in Sep of 2016, was instrumental in growing the resource by 3.7 fold from the previous 2012 estimate.
Upon completion of earn-ins, Bearing Lithium will own 17.7%, Minera 32.3% and LPI will have 50%. What this ultimately means for Bearing Lithium is the eventual ability to be a low-cost producer in a potentially world-class project with a long mine life, something its mining peers could only dream of doing.
Bearing Lithium’s portfolio also contains a lithium project in the U.S. lithium hotspot of Nevada that it recently optioned to First Division Ventures and exploration gold projects in the Yukon that are optioned to Golden Predator, with Bearing keeping net smelter royalties at the properties as it focuses on Chilean lithium.
Over $30 million has been invested in the Maricunga project, primarily through the previous partners Minera and Li3 Energy, a company officially acquired by Bearing Lithium last month. Expenditures are inclusive of delivery of a preliminary economic assessment this quarter and a definitive feasibility study (DFS) expected in the first half of 2018. LPI has already earned a 32.5% interest and remains solely responsible for expenditures up to the DFS.
<< To Read Further Details On The Maricunga Joint Venture, Click Here >>
The 4,463-hectare project has the added benefit of having a significant proportion being grandfathered in under previous mining code, which allows for the immediate liberation of lithium from the salar. In Chile, only mining exploitation concessions initiated before 1979 are authorized for the exploitation of lithium. This is a competitive advantage for the JV compared to others in the area, such as mining giant Sociedad Quimica y Minera de Chile (NYSE:SQM), who is looking at having its hands tied by the government for the next five years.
Close to all the necessary infrastructure (port, roads, electricity, workers, etc.), the project hosts a National Instrument 43-101 Measured and Indicated resource of 1.7 million tonnes of lithium carbonate equivalent (LCE) at a grade of 1,143 mg/L lithium plus an Inferred resource of 400,000 tonnes of LCE at a grade of 1,289 mg/L. Commercial production is targeted between 2020-2022.
The recent exploration program tripled the previous M&I resource and shows promise for significant expansion. The current resource is defined only to a depth of 200 metres however drilling down to 360 metres ended in high-grade brine (877 mg/L Li). Seismic surveying and geophysics shows the potential for the basin to extend to 500 metres or more. All this bodes well for a much larger resource estimate than the 2.2Mt currently defined and would support a long production life.
<< For The Latest Maricunga NI 43-101 Resource Estimates, Click Here >>
As mentioned, Bearing Lithium closed on the acquisition of Li3 Energy in October. The acquisition was immediately accretive to Bearing, giving the company its stake in Maricunga and bringing a heavyweight partner to the table. Pohang Iron & Steel (NYSE:PKX), also known as POSCO, one of the world’s biggest steel makers, invested $18 million in Li3 and now holds a 7% stake in Bearing Lithium post-merger, as well as board seat. POSCO has developed a proprietary lithium extraction technology that recovered over 80% of lithium from brine in less than 8 hours with a faction of the environmental footprint of conventional recovery (evaporation ponds).
While LPI will be funding development at Maricunga in 2018, capital could be shaping up to keep moving forward expeditiously via potential new partners expressing interest in the prolific property. Friday morning, it was disclosed that the Chinese consolidated company Fulin Group penned a non-binding agreement with Minera to discuss an equity purchase in Minera to get into Maricunga. While no deal is guaranteed, the negotiations are reported to revolve around Fulin taking a significant position in Minera and providing the necessary equity and debt to fund construction and development costs for the project.
As for Bearing, the company has approximately C$2.0 million in its treasury, plenty to fund its obligations through the end of next year noting all near- and medium-term project expenditures are fully funded by its JV partner. A seasoned leadership team, enveloping 17 professionals experienced in all aspects of exploration, Chilean mining, finance, capital markets and more across its C-suite, board and advisors, has successfully raised capital to deleverage the Li3 acquisition and pad corporate coffers for continued growth.
<< For Details On Bearing Lithium’s Experienced Management Team, Click Here >>
With demand for lithium projected to grow 530% by 2030, it’s no wonder the space has been heating up of late. Witness the impressive rise of Millennial Lithium Corp. (TSX:ML), which rallied from $1.25 to $3.59, a 187% move in a matter of a month or Standard Lithium Ltd. (TSX-Venture:SLL) which took off in early September and currently finds itself up 130% in that short time frame. The stage is set for lithium, its peers are moving higher. With Bearing Lithium in such an envious fundamental position, it’s anyone’s guess where this stock could head next.
When all is said and done, Bearing Lithium can change what Chilean lithium production looks like by being the first to capitalize on the Maricunga salar. The company doesn’t make it a practice to bang the drum about the relationship with POSCO, but there are great implications to having an internationally known partner when the day comes to sell its products, albeit lithium or other minerals.
EVs may be supercharging lithium demand, but the white metal has countless other uses today that will feel the vacuum of car makers hoarding production. Point is there will be many opportunities to sell lithium worldwide, not to mention the likely integration of POSCO technology to produce lithium nearly on demand, which sets Bearing Lithium apart for similar-sized peers, many of which are enjoying a larger market capitalization without the underlying fundamental strengths of Bearing.
<< Click Here To Read The Investor Presentation For Bearing Lithium >>
Forward Looking Statements
This report includes forward-looking statements that reflect current expectations about its future results, performance, prospects and opportunities. Bearing Lithium Corp. has tried to identify these forward-looking statements by using words and phrases such as "may," "will," "expects," "anticipates," "believes," "intends," "estimates," "plan," "should," "typical," "preliminary," "we are confident" or similar expressions. These forward-looking statements are based on information currently available and are subject to a number of risks, uncertainties and other factors that could cause Bearing Lithium Corp.'s actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks, uncertainties and other factors include, without limitation, the Company's growth expectations and ongoing funding requirements, and specifically, the Company's growth prospects with scalable customers, and those outlined above. Other risks include the Company's limited operating history, the Company's history of operating losses, consumers' acceptance, the Company's use of licensed technologies, risk of increased competition, the potential need for additional financing, the terms and conditions of any financing that is consummated, the limited trading market for the Company's securities, the possible volatility of the Company's stock price, the concentration of ownership, and the potential fluctuation in the Company's operating results.
Disclaimer
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