- E3 Metals Corp (ETMC) has posted the results of a preliminary economic assessment for its Clearwater lithium project
- The Clearwater resource area is located below surface in the depleted oil reservoirs of the Leduc Formation in south-central Alberta
- The company also outlined plans to produce 20 000 tonne per year of battery-quality lithium hydroxide monohydrate over 20 years
- Lithium-ion batteries are the driving force behind electrical vehicles
- E3 Metals is currently up 3.37 per cent and trading for C$0.92 per share
E3 Metals Corp (ETMC) believes it could be a major lithium contributor, after posting its preliminary economic assessment of the Clearwater lithium project.
The Clearwater resource area is located below surface in the depleted oil reservoirs of the Leduc Formation in south-central Alberta.
The company also outlined plans to produce 20 000 tonnes per year of battery-quality lithium hydroxide monohydrate over 20 years. Based on these figures the site has a net present value of $1.1 billion.
Lithium-ion batteries are the driving force behind the electrical vehicle (EV) revolution, with manufacturers projected to bring over 300 million EVs to market by 2025.
According to Bloomberg New Energy Finance Electric Vehicle Outlook 2020, there are over 500,000 e-buses, almost 400,000 electric delivery vans and trucks and 184 million electric mopeds, scooters and motorcycles on the road globally.
E3 Metals said it has an attractively low operating cost to produce battery quality lithium hydroxide, at just $3,656 per tonne. The brine production costs account for 1,947 per tonne, bringing the cost to move the brine to about $0.83 per cubic metre. The lithium extraction and production account for the remainder at $1732 per tonne.
E3 president and CEO Chris Doornbos believes the site is well positioned to suit the emerging battery metals sector.
“The combination of electrochemically produced lithium hydroxide, targeted process re-cycle streams, and relatively low cost of energy in Alberta provides for a very attractive trade-off between operating expenses and capital expenses,” he added.
Founded in 2016, E3 Metals Corp is a lithium extraction technology company that has also delineated a significant lithium resource in Alberta.
E3 Metals is currently up 3.37 per cent and trading for C$0.92 per share at 10:25am EST.