Tesla “brought attention to what Elon Musk has accomplished,” Klip told Lithium Investing News. “He showed to everyone that electric cars are not toys anymore — they are for real.”
We can witness the vertically integrated Lithium Business in the making now. Ganfeng Lithium new state of the art production facilities are coming online this year with 25 thousand t of Lithium Carbonate equivalent. It is the very impressive number as total world wide demand for LiC was around 150 thousand t last year. Company moves into Lithium Batteries business as well with its battery assembly line.
International Lithium from Canada has built a very impressive portfolio of Lithium projects spanning the globe from Argentina to Canada and Ireland. After very comprehensive due diligence process and initial exploration Ganfeng Lithium is buying into the ILC projects with two major investment programs. Both projects Mariana Lithium Potash Brine in Argentina and Blackstairs Spodumene Lithium project in Ireland will receive 10 million investments into development. Analysts are still trying to understand the Lithium Supply Demand picture and its watershed development with Tesla Gigafactory news, International Lithium is already busy to prove the resources and their economic potential on its projects as Demand from Ganfeng Lithium is already there with off-take agreements in place. ILC was able to clean its balance sheet in this major transaction with Ganfeng Lithium and now has only one convertible loan left of 1 million CAD due in December 2015. The conversion price is CAD0.10 and company is trading at CAD0.04 now. These 20 million investments in the projects are coming without the share dilution to ILC shareholders and company will retain interests in the projects alongside with their development.
"ILC and strategic partner Ganfeng Lithium have finalized two separate agreements. The parties have finalized their joint venture agreement for operation of the Blackstairs lithium pegmatite project in Ireland and have entered into a loan conversion and investment agreement on the Mariana lithium brine project in Argentina in exchange for work commitments and the cancellation of approximately US$3.3 million in loans plus interest indebted to GFL. The aggregate work commitments on both projects is approximately $20 million."
Next exploration programs on Mariana and Blackstairs are just around the corner according to the ILC news release.
The recent
halt of Ganfeng Lithium in China has brought our attention and after digging the Chinese websites we can understand that Ganfeng has announced the major acquisition pending the announcement. This company is moving very fast and we will monitor the situation and which part of the vertically integrated Lithium Batteries business they will bring into the picture this time.
We are more than biased and interested in the successes of these two companies. Please read our legal disclaimers and do your own DD as usual. Kick the tires and enjoy the ride - hopefully in your own Electric Car. These companies will make more of them possible on our roads.
"Mar 19, 2014 (ACCESSWIRE via COMTEX) -- Vancouver, B.C. / ACCESSWIRE / March - 2014 / International Lithium Corp. (the "Company" or "ILC") announces several major transactions with strategic partner GFL International Co., Ltd. ("Ganfeng Lithium" or "GFL")."
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