Ameriwest Lithium Inc - AWLIF stock
OTC Symbol: AWLIF | OTC Tier: Pink Current | Related ticker symbols: CSE: AWLI
Company Profile[edit]
Ameriwest Lithium Inc [OTCQB: AWLIF, CSE: AWLI, FSE: 5HV] is a mineral exploration company based in Canada. The company primarily focuses on the acquisition, exploration, and development of natural resources in Canada and the USA. It has interests in several assets including the Deer Musk East property, the Railroad Valley property, the Edwards Creek Valley, and the Thompson Valley property. The firm’s resource portfolio composes the ESN project situated in White Pine County, the Koster Dam property in the Clinton Mining Division of British Columbia, and the Quet and Fire property in Canada. Ameriwest is a reporting issuer in Alberta, British Columbia, and Ontario provinces. Its financial year ends on April 30.[1]
Background[edit]
Ameriwest was established on May 17, 2017, under the Business Corporations Act (British Columbia). It was initially known as Oakley Ventures Inc. and changed its name in April 2021 to Ameriwest Lithium Inc. Its common shares began trading on the CSE on July 24, 2020, under the OAKY symbol. The symbol was later changed to AWLI on April 16, 2021. The company is headquartered in Vancouver, Canada.[2]
Business Operations[edit]
The company is focused on capitalizing on opportunities presented by the unfolding global green energy transformation. The company aims to become a global leader in the exploration and development of top-class lithium and battery metal mining resources. Ameriwest generates shareholder revenue via its unique investment strategy which involves investing in assets situated in proven Lithium jurisdictions at the right time. It has one wholly-owned subsidiary, Oakley Ventures USA Corp., which was incorporated under the laws of Nevada.[3]
Ameriwest owns and has controlling interests in several exploration-stage lithium assets in Nevada and Arizona. It has 13 state exploration permits stretching approximately 6,681 acres in Arizona and 33 federal load claims covering 613 acres for 7,299 acres in Thompson Valley. In Nevada, the company has 288 load claims spanning 5,760 acres near Eureka, 371 claims stretching 7,378 acres in Clayton Valley, 780 unpatented placer claims totaling about 15,300 acres in Railroad Valley, and 1,243 placer mineral claims sitting on approximately 22,213 acres in the Edwards Creek Valley.[4]
Projects[edit]
Railroad Lithium Project[edit]
Located near Township 5 North, Nevada, the Rail Road Valley basin is believed to harbor huge lithium deposits like the neighboring Clayton Valley. Ameriwest increased its stake in the valley to 780 contagious claims covering approximately 15, 300 acres. Historical seismic studies have revealed factors such as deep hydrological reservoirs covered by an evaporative playa, which are favorable to lithium brine formation.[5]
Deer Musk East Lithium Project[edit]
The project is located in Clayton Valley, Nevada, which is considered a hot spot for lithium exploration. Several companies have reaped enormous lithium amounts from the Valley, with exploration activities ongoing. The company holds 371 claims spanning about 7,400 acres on the property. The Dear Musk East floor potentially hosts two distinct types of lithium mineralization: Lithium brine and lithium-rich claystone.[6]
Edwards Creek Project[edit]
It is a Playa stationed in a hydrologically closed basin in the North Central region of Nevada. The property incorporates 1,243 contagious claims spreading 22, 200 acres. The project has exhibited several geological features of lithium brine presence from past geological studies. The company looks to capitalize on the property’s huge potential for lithium brine deposits.[7]
Thompson Valley, Arizona[edit]
A prospective Lithium sedimentary deposit with near-surface lithium-bearing clay exposure. It is one of the firm’s acquisitions with 13 exploration permits stretching approximately 6, 270 acres already acquired from the Arizona State Land Department. Its strengths include shallow deposits and convenient access since it is located near the highway.[8]
Recent Critical Developments[edit]
On January 31, 2023, Ameriwest and Nova Lithium Corp. entered an option agreement on the Edwards Creek Valley Project (ECY). Nova’s 100%- owned Nevada subsidiary acquired exclusive rights on the property with an option to buy a 51% undivided interest in and to the project by finalizing C$500,000 in exploration expenditures for two years, and spending a minimum of C$200,000 in exploration expenditures within the first twelve months (by January 30, 2024).[9]
The company and ISM, its wholly-owned subsidiary entered a spin-off arrangement agreement for its non-lithium assets: ESN, Koster Dam, and Quet & Fire gold prospects into ISM on March 31, 2022. The spin-off arrangement was completed on September 23, 2022, and ISM’s shares were consequently listed for trading on the CSE on September 29. Ameriwet shareholders’ holdings remained unchanged after the spin-out. ISM closed a non-brokered private placement of 10,550,000 units of ISM at $0.10 per unit, yielding $1,055,000 in proceeds.[9]
Recent Quarter Financial Results[edit]
The firm recorded $372,172 in net loss for the three months that ended January 31, 2023, compared to a net loss of $2,124,540 incurred in the quarter that ended January 31, 2022.[10]
Management[edit]
David Watkinson, CEO
- Brings over 30 years of experience in the engineering profession
- Has experience in open pit and underground mining projects
- Understands mining scopes including mine permitting, construction, feasibility, and operations
- Has robust experience in project management having pioneered several projects from scratch to success across Canada, US, and Philipines
- Has held senior positions in established companies including Placer Dome Inc., Thyssen Mining Construction, Kinross Gold Corporation, and Vulcan Materials Company
- Acquired his B.Sc. in Applied Science, Mining Engineering, from Queen’s University in 1985. He is a registered member of Professional Engineers in the Province of Ontario
Graeme Wright, CFO
- Has over 35 years of multi-industry experience in financial management, accounting, and consulting
- He has held the positions of Vice President of Finance and Administration in various Ontario-based technology companies, including Healthpricer Interactive Limited, where he plaid a key role in the sale and spin-out of the company’s subsidiary
- Holds a bachelor’s degree in commerce, majoring in Accounting and Economics, from the University of Toronto
Other management team members include:
- Glenn Collick, Director & COO
- Zig Hancyk, Ph.D., Director
- Sam Eskandari, Director
- James Gheyle, Director
- Dennis P. Bryan, P.E., Advisor, and
- Greg Bell, Advisor[11]
- ↑ Ameriwest Lithium Inc. Company Profile – Seeking Alpha. Accessed on April 20, 2023
- ↑ Ameriwest Lithium Inc. Management’s Discussion and Analysis of Results of Operations and Financial Condition For the nine months ended January 31, 2023/ Overview/Page 1 – Sedar fillings
- ↑ Ameriwest Lithium Highlights – Ameriwest website. Accessed on April 20, 2023
- ↑ OFFERING DOCUMENTS UNDER THE LISTED ISSUER FINANCING EXEMPTION/ SUMMARY DESCRIPTION OF BUSINESS – Ameriwest website. Retrieved on April 20, 2023
- ↑ RAILROAD VALLEY, NEVADA – Ameriwest website. Retrieved on April 21, 2023
- ↑ DEER MUSK EAST LITHIUM PROJECT, CLAYTON VALLEY, NEVADA – Ameriwest website. Retrieved on April 21, 2023
- ↑ EDWARDS CREEK PROJECT EDWARDS CREEK VALLEY, NEVADA - Ameriwest website. Retrieved on April 21, 2023
- ↑ THOMPSON VALLEY PROJECT, THOMPSON VALLEY, ARIZONA – Ameriwest website. Accessed on April 21, 2023
- ↑ 9.0 9.1 Ameriwest Lithium Inc. Management’s Discussion and Analysis of Results of Operations and Financial Condition For the nine months ended January 31, 2023/ Recent Developments/Pages 2 & 3 – Sedar fillings
- ↑ Ameriwest Lithium Inc. Management’s Discussion and Analysis of Results of Operations and Financial Condition For the nine months ended January 31, 2023/ Results for the three months ended January 31, 2023/ Page 9 – Sedar fillings
- ↑ About Ameriwest Lithium/Management – Ameriwest website. Read on April 21, 2023
