Volt Lithium Corp. (VLT:TSV; VLTLF:US) announced in a press release that it had produced a 99.5% battery-grade lithium carbonate by processing oil field brine from the Keg River formation on the company’s Rainbow Lake project, which it believes is a commercially viable product.
Alex Wylie, the President and CEO of Volt Lithium, commented, “I am thrilled to confirm that the Volt team continues to advance our DLE capabilities at our demonstration plant and showcased our ability to transform oil field brine into a commercially saleable grade of lithium carbonate. Brining the full-cycle process in-house greatly reduces the cost to produce lithium carbonate, which is expected to enhance margins and position Volt as a low-cost operator.”
Volt Lithium is the proprietor of a three-stage lithium extraction process that utilizes oil field brine by first treating and purifying the brine, extracting lithium eluate from the brine, and then concentrating the eluate.
Dr. John McEwen, Volt’s Vice President of Research and Development and Technical Services, commented, “With Volt’s commitment to innovation and sustainability, we are excited to continue optimizing our proprietary DLE technology and very proud to report increasing success in processing oil field brine from our initial Rainbow Lake asset. Having the demonstration plant offers a key differentiator for Volt relative our peers as it enables us to simulate field operations while testing brines from all over North America.”
A Monster Breakout?
Josh Chiat with Stockhead reported on January 15, 2024, that the investment bank RBC has indicated that it believes that lithium prices could increase in Q1 or Q2 of 2024. Predictions were mixed, however, as Goldman Sachs indicated that it believed a bear market for lithium was on the horizon. Lithium is an essential ingredient in many batteries, making it a critical part of green infrastructure. However, the metal is not as scarce as copper, leaving analysts with mixed opinions.
In a much more recent report dated to January 23, 2024, Katusa Research predicted the lithium would have a “moster breakout” in 2024. The report noted that interest in lithium from China has ramped up dramatically, and stated, “China has started the ‘Ore Wars’ and will flex its muscle to secure its supply. It just announced a cut to critical raw materials tariffs, and you guessed it – lithium was top of the list.”
An Important Milestone
Mining Junkie reviewed Volt Lithium in light of its most recent news and assessed the company positively. The report stated, “It is an important milestone for Volt and it further addresses the issue of cost/tonne and the ultimate profitability of their DLE process.” Mining Junkie believes that the finalization of the U.S. deal could push the company in a lucrative direction.
Analyst Michael Ballinger reviewed Volt Lithium on January 23, 2024, and rated the company as a “buy” for potential investors. Ballinger cited a shakeup in the lithium market as a factor in his rating, as investors seem to have turned sour on some major lithium producers as a result of an oversupply in the Chinese battery markets.
The company's investor presentation demonstrates a number of catalysts, including goals to increase the company's mineral resource estimate, and continue to increase lithium concentrations.
Ownership and Share Structure
Streetwise Ownership Overview*
Volt Lithium Corp. (VLT:TSV;VLTLF:US)
Refinitiv provided a breakdown of the company’s ownership and share structure, where management and insiders own approximately 20.36% of the company. According to Refinitiv, President and CEO James Alexander Wylie owns 11.44% of the company with 11.38 million shares, Director Martin Scase owns 6.47% of the company with 6.44 million shares, Director Warner Uhl owns 1.16% of the company with 1.15 million shares, Director Maury Dumba owns 0.64% of the company with 0.64 million shares, CFO Morgan Tiernan owns 0.51% of the company with 0.50 million shares, and Director Kyle Robert Hookey owns 0.14% of the company with 0.14 million shares.
Refinitiv reports that institutions own approximately 2.42% of the company, as Eagle Claw Investments Pty. Ltd. owns 1.41% of the company with 1.40 million shares, while U.S. Global Investors, Inc. owns 1.01% of the company with 1.00 million shares.
According to Refinitiv, there are 99.46 million shares outstanding with 77.81 million free float traded shares, while the company has a market cap of CA$13.36 million and trades in the 52-week period between CA$0.16 and CA$0.55.
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Important Disclosures:
- Volt Lithium Corp. has a consulting relationship with an affiliate of Streetwise Reports, and pays a monthly consulting fee between US$8,000 and US$20,000.
- As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Volt Lithium Corp.
- Amanda Duvall wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
- This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.
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