eResearch | Today’s Video-of the-Day is from E3 Metals Corp. (TSXV: ETMC) as the Company hosted Alberta’s Energy Minister, Sonya Savage, at E3’s office in Calgary.
Minister Savage visited E3’s office to show commitment to E3’s lithium project. During the visit, Minister Savage also announced that the Alberta government has assembled a five-member panel to provide strategic advice to help unlock Alberta’s mineral potential. The panel consists of experts from the metals and mining industry.
E3 is a lithium development company that is leveraging Alberta’s oil industry by using its patented technology to extract lithium from oil field brine waters. Lithium demand is increasing as the mineral is widely used in electric vehicle batteries and batteries for solar & wind energy storage.
E3 continues to advance its 6.7 million tonne of lithium carbonate equivalent inferred mineral resource in south-central Alberta, with planned production starting in 2022. The Company’s process extracts lithium in much the same way as oil is extracted, building off the backbone of the oil industry, and hopes to achieve this result with net-zero carbon emissions.
In September 2019, E3 announced that it entered into a joint development agreement with Livent Corporation (NYSE: LTHM) whereby Livent will contribute up to $5.5 million to advance the development of E3’s proprietary lithium extraction and production processes. Livent is one of the world’s largest pure-play lithium producers, with a market cap of $1.15 billion and annual revenue of over $300 million.
Chris Doornbos, President and Chief Executive Officer of E3 commented,
“We are very happy to host the Minister of Energy at our offices today. This announcement solidifies the province’s commitment for the development of critical minerals. E3 Metals is on the forefront of lithium development in Alberta, a critical mineral that can be produced on the backbone of the oil industry.”
To hear Alberta’s Energy Minister, Sonya Savage announcement, you can access today’s Video-of-the-Day here:
The stock closed the week at C$0.40 with a market cap of C$12.2 million. A comparative company to E3 is Standard Lithium Ltd. (TSXV: SLL) that has a market cap of over C$150 million.
CHART 1: E3 versus Standard Lithium; E3’s Project about 12-18 Months Behind SLL’s Project
CHART 2: E3 Metals 1-Year Stock Chart
