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Friday, June 18, 2021

The New Score on Lithium Exploration Group Inc (OTCMKTS:LEXG)

Lithium Exploration Group Inc (OTCMKTS:LEXG) has seen a pop in price and volume in recent weeks as the Company issues some positive press. Everyone remembers LEXG for the spectacular run the stock made several years ago from pennies to $11.64 a share.

On August 6 LEXG announced technology partner SonCav has posted videos of the ongoing testing in Dallas, Texas. The videos can be found on YouTube on Sonic Cavitation’s YouTube channel or by following this link.

“It has taken a long time to get to this point, but it is exciting to be gathering data on the stress testing and moving the technology to commercialization,” commented CEO Alex Walsh. “Our team of engineers continues to work on the assembly design of the Oil Unit to be tested in Canada in the near future. The results of the testing that is taking place in Dallas is helping us make adjustments to the design as we go forward.

Lithium Exploration Group Inc (OTCMKTS:LEXG) is all about Lithium, which is in a nutshell, a highly chemically reactive element not found on Earth in elemental form. It isn’t mined as lithium. But the commercial world uses the name of the element when talking about the array of lithium resources, supply and demand.

Lithium is the lightest metallic element. As a metal it has important though minor use as its numerous applications in refined mineral form and in a variety of chemical combinations are owed to its innate mineralogical, chemical, electrochemical, and physical properties. Lithium is mined as a silicate mineral or harvested from natural brines and then used in mineral form or converted into lithium chemicals or metal.

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Today the supply of lithium raw materials is dominated by a handful of producers in Chile, Argentina and Australia. New potential demand scenarios have created a rush on the part of junior mining companies and others, some partly supported by major automotive and electronics companies, to develop projects in traditional resource types as well as new ones. Today’s producers have also made clear their resources potential and capabilities for capacity increases.

The Company announced on October 23 that CEO Alex Walsh purchased 2,500,000 shares of common stock yesterday in the open market. By making the purchase he will be unable to sell any of his share holdings for a minimum of 6 months.

“Yesterday I asked all of the folks that have interest in our company to have patience as we get through the next few quarters and stated that I believe our company is undervalued right now. After discussing that with a few of our folks internally I decided to make my own purchase of LEXG stock to show that I back my statements with action,” commented CEO Alex Walsh.

Conclusion:LEXG is moving steadily downwards in recent trading. The stock made a big run back in March of this year when it moved from $0.05 to $0.20. Since this time last year LEXG OS has gone from 91 million shares out to 432 million shares.

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Currently drifting into sub penny land LEXG has fallen a long way and contines to move lower on dilution. The stock has a history of highly explosive moves and is the kind of stock that could heat up at any moment and go on a 2 or 3 day massive tear as it’s done several times in the past. We will be updating on LEXG when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with LEXG.

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

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