Investors may want to use any signs of weakness in the lithium market as opportunity. All thanks to accelerating electric vehicle demand. In fact, according to the International Energy Agency, about a fifth of all cars will be electric this year. Not only will that have a positive impact on electric vehicle stocks, like Tesla and Nio, it could have a substantial impact on EV metal stocks, too. That includes major lithium stocks like LithiumBank Resources Corp. (TSXV: LBNK) (OTCQX: LBNKF), Albemarle Corporation (NYSE: ALB), Lithium Americas (NYSE: LAC) (TSX: LAC), American Lithium Corp. (NASDAQ: AMLI) (TSXV: LI), and Piedmont Lithium (NASDAQ: PLL). We’re also learning that global EV sales jumped to more than 10 million in 2022, with China accounting for about 60% of the sales. All as global leaders race to put millions of EVs on the roads to battle climate change issues.
In addition, according to Bloomberg, “Availability and costs of crucial battery materials like lithium, cobalt and nickel have been key concerns for years among EV makers trying to build out their electric lineups. The issue has gained more urgency in recent months due to rising competition to strike supply pacts with miners and project developers and by wild swings in raw material costs. The spot value of lithium consumption alone surged to about $35 billion in 2022, from $3 billion in 2020.”
Look at LithiumBank Resources Corp. (TSXV: LBNK) (OTCQX: LBNKF), For Example
LithiumBank Resources Corp.,a lithium development company focused on lithium-enriched brine projects in Western Canada, announces the voting results from its Annual and Special Meeting of Shareholders, held on April 27, 2023, including the appointment of Katya Zotova to the Board of Directors of the Company.
Ms. Zotova spent 25 years in strategy and corporate finance, private equity and investment banking across Europe, Middle East, Africa, Asia and the Americas. Ms. Zotova is currently an Advisor on Energy Transition, Infrastructure and Industrials at Antler VC Fund and a non executive director for Harland & Wolff plc. Prior to joining Antler, Ms. Zotova led Investment Banking Coverage for Corporates across Europe, Middle East and Africa for Mizuho International plc, acted as a Senior Advisor on M&A and Private Equity for McKinsey & Co and was a non executive director for Vedanta Resources plc where she chaired the Sustainability Committee. Prior to McKinsey, Ms. Zotova led direct investments at L1 Energy / Pamplona Capital LLP, ran the International Acquisitions and Divestments group for Energy Investment Banking at Citigroup and held a number of strategy and M&A roles at Shell plc. During the course of her career, Ms. Zotova lived and worked in the Netherlands, USA, UK, UAE, South Africa and Russia.
All resolutions presented to the Shareholders were approved at the Meeting. Each of the resolutions are explained in detail in the Management Information Circular published in connection with the Meeting. It is available for reference on the Company's website www.lithiumbank.ca.
A total of 13,148,050 common shares, representing approximately 34% of the Company's outstanding common shares, were voted in person and by proxy at the Meeting. Shareholders voted in favour of:
- Reappointing Davidson & Company LLP as auditors of the Company;
- Setting the number of directors at six, with the following six nominees elected as directors: Robert Shewchuk, Gianni Kovacevic, Steven Piepgrass, Christopher Murray, Paul Matysek and Katya (Ekaterina) Zotova. Ann Fehr chose not to stand for election at the Meeting and Katya (Ekaterina) Zotova was nominated by the shareholders present at the Meeting;
- Approving the Company's New Fixed Stock Option Plan; and
- Approving of the grant of incentive stock options under the New Fixed Stock Option Plan.
"On behalf of the board, I would like to thank shareholders for their participation and continuing support” commented Rob Shewchuk, CEO, LithiumBank. “We are very pleased to welcome Ms. Zotova to our board of directors. Her M&A experience at Shell plc, McKinsey and Citigroup and advisory on Energy Transition to Antler VC Fund and the World Energy Council will provide valuable support for the continued growth and success of LithiumBank”.
In connection with Ms. Zotova’s appointment, the Company granted 100,000 incentive stock options. These stock options will be exercisable at $1.23 per share, for a term of five years. The terms of the stock options will be in accordance with the Company’s Stock Option Plan.
Other related developments from around the markets include:
Albemarle Corporation, a global leader in providing essential elements for mobility, energy, connectivity and health, announced that it will release its first-quarter 2023 earnings after the NYSE closes on Wednesday, May 3, 2023. The company will hold its conference call to discuss first-quarter 2023 results on Thursday, May 4, at 9:00 a.m. ET. This call will be webcast and can be accessed through Albemarle Corporation's website at http://investors.albemarle.com.
Lithium Americas and Arena Minerals Inc. announced the completion of the previously announced plan of arrangement whereby Lithium Americas has acquired all of the issued and outstanding common shares of Arena. Arena owns 65% of the Sal de la Puna project covering approximately 13,200 hectares of the Pastos Grandes basin located in Salta, Argentina. "With the completion of the acquisition, we have taken a big step towards consolidating the Pastos Grandes basin,” said John Kanellitsas, Vice Chairman of Lithium Americas. “While our focus remains on near-term startup of production at Caucharí-Olaroz, the addition of Arena provides increased flexibility as we continue to advance our growth plans in Argentina.”
American Lithium Corp. announces it has filed an independent National Instrument 43-101 Technical Report on the Preliminary Economic Assessment for the Tonopah Lithium Claims project located in the Esmerelda lithium district northwest of Tonopah, Nevada. Highlights of the PEA were previously announced on February 1, 2023. The PEA and accompanying Technical Report were completed by DRA Global and Stantec Consulting Services Inc. and demonstrate that the TLC project has the potential to become a substantial, long-life producer of low-cost, high purity lithium carbonate.
Piedmont Lithium, a leading global developer of lithium resources, reported the results of a Definitive Feasibility Study of the Company’s proposed Tennessee Lithium project in McMinn County, Tennessee. The Study of the 30,000 metric ton per year lithium hydroxide plant featuring the innovative and waste-reducing Metso:Outotec conversion technology affirms the potential for Piedmont to develop an American-based lithium hydroxide business using spodumene concentrate from market sources, including via existing offtake agreements with Sayona Quebec and Atlantic Lithium.
Legal Disclaimer / Except for the historical information presented herein, matters discussed in this article contains forward-looking statements that are subject to certain risks and uncertainties that could cause actual results to differ materially from any future results, performance or achievements expressed or implied by such statements. Winning Media is not registered with any financial or securities regulatory authority and does not provide nor claims to provide investment advice or recommendations to readers of this release. For making specific investment decisions, readers should seek their own advice. Winning Media is only compensated for its services in the form of cash-based compensation. Pursuant to an agreement Winning Media has been paid three thousand five hundred dollars for advertising and marketing services for LithiumBank Resources Corp. by LithiumBank Resources Corp. We own ZERO shares of LithiumBank Resources Corp.Please click here for full disclaimer.
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