By: Tomas Ronolski - AllPennyStocks.com News

Thursday, July 23, 2015

According to Roskill, a mineral consulting firm, the total global demand for lithium reached 150,000t LCE. The total value of the global demand is estimated at more than $2 billion. Since the start of this millennium, lithium demand has increased at an average CAGR of 6.8%. Going forward, Roskill expects demand to grow at an annual base rate of 9.7% until 2017. According to Roskill, consumption of lithium in volume terms will be mostly driven by the rechargeable battery market. The rechargeable battery market is forecast to grow at 21.5% per year.

The growth in the rechargeable battery market is being driven by the fact that lithium-ion batteries are crucial in portable and mobile applications. In fact, the growing use of smartphones and tablets is one of the key drivers of the market and will remain so going forward.

Orocobre Limited, citing a Citigroup forecast from 2012, noted in a report that the lithium-ion battery market is expected to rise from $13.9 billion in 2011 to $34.3 billion in 2020. This is significant growth and not surprisingly, the market has been bullish on lithium miners over the past few years.

This morning one such miner, Dajin Resources Corp. (TSX-Venture:DJI) reported that its wholly-owned subsidiary Dajin Resources (US) Corp. has completed a 550 station gravity survey at Alkali Lake. Vancouver, Canada-based Dajin is an energy metals company with strategically located brine-based lithium exploration projects in both South and North America.

The Alkali Lake project comprises of 138 placer claims, spread over an area of 1,138 hectares or 2,811 acres. Surface sampling conducted in March and April confirmed the presence of near surface lithium. DJI said that the results of the gravity survey are now undergoing processing.

The basin is situated close to Rockwood Lithium’s Clayton Valley/Silver Peak lithium operation, which is the only producing brine-based lithium mine in operation in North America.

Apart from Alkali Lake, Dajin also has a 100% interest in claims known to contain lithium and boron values in the Teels Marsh region of Mineral County, Nevada. The claims are spread over an area of 2,187 hectares and are close to the Mono Lake Crater, a lithium rich mega volcano. This volcano is possibly the source for lithium rich volcanic ashes blown eastward to depositions in local basins such as Teels Marsh. In addition, Dajin also has a 100% interest in concessions or concession applications in Jujuy Province in Argentina.

Investors seem to like the progress and prospects for Dajin as shares are up over 100% in the last twelve months alone, currently trading at $0.08 a share with a couple hours of trading left in the day.

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