We Are Going To Keep An Eye On Lithium Chile Inc (OTCMKTS: LTMCF)
As the electric car fever spreads across the globe, the demand for lithium ion batteries is ever going up. The same goes for batteries that are used to power your iPhone and Samsung handset, as well as other electronic appliances. This is the kind of good headlines that will make Chile smile.
Chile is the largest exporter of the white metal, thanks to the extensive reserves of the brine that contains lithium and which exists within its bowels.
High-priority target area
Of course, Chile does not mine the reserves. Instead, one company that has made a name for itself in the lithium industry is the firm behind the tons upon tons that are shipped out of the country either in terms of raw, unprocessed lithium or in terms of other end products. The brine deposits are quite extensive and the company has made several new discoveries in the recent past.
Back in May, the company identified a high-priority target area at Coipasa in the sub-basin within Salar de Coipasa. In a press release, the firm revealed that had identified an extensive lithium brine target area at its Coipasa project in Chile. Further, the release detailed that the sample examination exercise had returned “lithium values in near-surface brines ranging from 310 mg/L to 1410 mg/L.”
Multi-project drill program
These revelations point towards a future that will see the firm ramp up production of the metal that will meet the demand of the market. For a company that is already the largest landholder in Chile, the times cannot be better.
Per the CEO, the firm has other projects spread across the country it seeks to add to its acreage additional brine deposits. Steve Cochrane, President and CEO of Lithium Chile Inc (OTCMKTS: LTMCF), notes that the firm controls the bulk of its footprint in Chile and that the Coipasa project “will be included in our upcoming, multi-project drill program and we look forward to sharing the results.”
Prosper One enters in agreement with Lithium Chile
In another press release, the Canadian lithium giant made public its MoU with Prosper One International Holdings Company Limited, a Hong Kong Stock Exchange listed company. The MoU details that among other commitments, Prosper One will make a $1M equity investment Lithium Chile “at a minimum price of $1.00 per share.”
The firm seems to be gearing up for bigger gains and more profit in both the near and distant future. One cannot help but keep a very keen eye on the company as it makes the huge strides towards greatness.