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Tuesday, August 3, 2021

Lithium; the Rise of Neo Lithium Corp (OTCMKTS: NTTHF)

Neo Lithium Corp (OTCMKTS: NTTHF) is an exciting stock that continues to move higher in recent trading. There is a lot of excitement surrounding Neo Lithium as the Company advances its recently discovered 3Q Project – a unique high-grade lithium brine lake and salar complex in Latin America’s “Lithium Triangle”. The 3Q Project is located in the Catamarca Province, the largest lithium producing area in Argentina covering approximately 35,000 ha including a salar complex of approximately 16,000 ha. Neo Lithium also recently reported an C$8.5 million investment from a subsidiary of Contemporary Amperex Technology; CATL, a Chinese manufacturing firm  making lithium-ion batteries for electric vehicles (EVs).

According to a report from GrandViewResearch the global lithium-ion battery market size was valued at USD $32.9 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 13.0% from 2020 to 2027. The growth of the market is attributed to the growing demand for the lithium-ion battery in Electric Vehicles (EVs) and grid storage as it offers high-energy density solutions and lightweight. Expanding off-grid installations in the U.S., India, China, and Germany, along with the growing acceptance of Li-ion batteries in equipment used in the medical sector, is expected to encourage the market for lithium-ion battery over the forecast period.

Neo Lithium Corp (OTCMKTS: NTTHF) (CVE: NLC) operating out of Toronto, Ontario is quickly becoming a prominent new name in lithium brine exploration by virtue of its high quality 3Q Project and experienced team. Neo Lithium is rapidly advancing its recently discovered 3Q Project – a unique high-grade lithium brine lake and salar complex in Latin America’s “Lithium Triangle”. The 3Q Project is located in the Catamarca Province, the largest lithium producing area in Argentina covering approximately 35,000 ha including a salar complex of approximately 16,000 ha.

The company’s flagship is the Tres Quebradas project in Argentina, also known as the ‘3Q’ project, which lies in the southern end of what is known as the “lithium triangle”, covering 35,000 hectares, while the salar complex within that area is around 16,000 hectares.

The project has proven and probable reserves of 1.3 million tons of lithium carbonate (LCE) with 790 milligrams per litre of lithium and a report last year highlighted its very strong economics and 35-year mine life. In terms of resources, at the overall deposit area, using a 400 mg/l cut-off, the 3Q project has over 4 million tonnes of LCE in the higher confidence measured and indicated (M&I) category.

Earlier this year Neo Lithium reported battery grade lithium carbonate has been produced at its pilot plant in Fiambalá using concentrated brine from its wholly-owned Tres Quebradas lithium project (“3Q Project”) in Catamarca Province, Argentina. The brine was extracted from the high-grade zone located in the northern zone of the 3Q project and then evaporated at the Company’s industrial scale ponds at the same location under similar conditions as production scale.

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Neo Lithium reported an C$8.5 million investment from a subsidiary of Contemporary Amperex Technology; CATL, a Chinese manufacturing firm making lithium-ion batteries for electric vehicles (EVs). CATL will subscribe for 10.2 million shares of Neo Lithium at a price of C$0.84 per Common Share. This investment will strengthen Neo Lithium’s financial position and financing strategy and get us one step closer to the development and construction of the Company’s wholly owned Tres Quebradas Lithium Project (“3Q Project”) in Catamarca Province, Argentina.

The Company completed a positive Pre-Feasibility Study in May 2019 and going forward, the Company together with the technical assistance of CATL, will finish the Definitive Feasibility Study (“DFS”) in order to define the precise financing requirements for the 3Q Project. The DFS will evaluate the economic feasibility for a project with a nameplate production capacity of approximately 20,000 metric tons of battery quality lithium carbonate, with expansion capacity up to 40,000 metric tons per year of battery quality lithium carbonate.

Constantine Karayannopoulos, Vice Chairman of Neo Lithium commented, “We are thrilled to welcome CATL as a strategic investor in Neo Lithium and to have them join our share register alongside many of our other long-term supportive shareholders. The investment by CATL, which comes at a premium to market price, is a positive sign of support for the 3Q Project and our management team. CATL is a large and well respected leader in the battery space with extensive experience, which bodes extremely well as our team continues to forge ahead.”

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Neo Lithium continues to move higher in recent trading and its easy to see why investors are excited about the Company as it advances its recently discovered 3Q Project – a unique high-grade lithium brine lake and salar complex in Latin America’s “Lithium Triangle”. The 3Q Project is located in the Catamarca Province, the largest lithium producing area in Argentina covering approximately 35,000 ha including a salar complex of approximately 16,000 ha. Neo Lithium also recently reported an C$8.5 million investment from a subsidiary of Contemporary Amperex Technology; CATL, a Chinese manufacturing firm  making lithium-ion batteries for electric vehicles (EVs). We will be updating on Neo Lithium when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with Neo Lithium.

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Disclosure: we hold no position in Neo Lithium either long or short and we have not been compensated for this article.

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