Century Lithium Corp - CYDVF stock
OTC Symbol: CYDVF | OTC Tier: OTCQX International
Company Profile[edit]
Century Lithium Corp. [OTCQX: CYDVF] is a publicly traded advanced-stage Lithium exploration company based in Canada. The company principally engages in acquiring, evaluating, exploring, and developing lithium assets in Canada and the United States. It also explores other minerals, including gold, silver, and zinc. The firm is focused on developing its wholly-owned Clayton Valley Lithium Project in Nevada, USA. The company is still en route to determine if the mineral properties contain economically recoverable reserves. Clayton Valley, its pilot project stretches approximately 5,430 acres southwest of Nevada. The firm is also interested in its Gunman Zinc-Silver Project, which covers approximately 1100 acres in White Pine County, northeast of Eureka, Nevada. Century has completed nearly five reverse circulations (RC) drill programs spanning an approximated 50,000 feet in the Gunman asset.[1] The firm was initially named Cypress Development Corp. before changing its name in January 2023 to Century Lithium Corp. Its shares are listed on the TSX Venture under the LCE ticker symbol and on OTCQB under the CYDVF symbol. Century was incorporated in 1991 and has its headquarters in Vancouver, Canada.[2]
Business Operations[edit]
The company aims to sustainably and profitably produce clean energy through lithium exploration and processing to benefit all shareholders, including investors and employees. Century is focused on capturing the growing electric vehicle and battery storage market in Canada and the United States. Currently, the firm prioritizes the development of s Clayton Valley Lithium Claystone, its pioneer project, and oversees operations in its pilot plant in Amargosa Valley, Nevada. It has also commenced a feasibility study for the highly valued project. Through Cypress Holdings (Nevada) Ltd., its wholly owned subsidiary, Century owns 100% of 23 unpatented lode mining claims under the Gunman property in White Pine County, Nevada. As of November 15, 2022, the company had made significant progress in its feasibility studies and achieved 99.94% lithium carbonate from its Clayton Valley lithium-bearing deposits.[3] Century is still an exploration and development stage company. So far, the company principally relies on issuing securities to generate cash flows to fund its operations. The firm also needs to generate revenue from its activities, with large-scale productions anticipated in the quarters ahead.[4]
Clayton Valley Lithium Project[edit]
It is one of the largest holders of lithium deposits nearing production in America. The project is forecasted to extend more than 30 years of active sustainable production. Its net present value is estimated at $10.3 Billion with an after-tax internal rate of return (IRR) of 26%. The asset’s resources are projected to facilitate approximately 27.4 thousand average annual productions of quality lithium batteries. The property’s lithium resources are exposed to the surface and protected from erosion by Angel Island. The firm is edging towards completing the feasibility study and permitting the project with eyes cast on the growing demand for electric vehicle and battery storage units.[5]
Clayton Valley History[edit]
The discovery of silver in silver town led to the discovery of the first recorded mining operations in Clayton Valley in 1864. As early as 1906, the playa on the valley was mined for salt and later for potash during World War 2. Lithium deposits were noted on the property in the 1950s. Subsequently, Foote Minerals obtained leases for the asset in 1964 and began lithium carbonate production at Silver Peak by 1967. Since then, several companies have carried out lithium exploration operations on the property. Geological surveys conducted by the United States Geological Survey Department in the 1970s exhibited a positive occurrence of lithium in sediments. Century Lithium acquired rights to claims on the east and south sides of Angel Island in 2015. The company commenced drilling activities in 2017 through 2018 when it completed additional drilling. The firm also concluded the NI 43-101 technical report Resource Estimate and the PEA, which indicated the vast presence of lithium comprising surface samples and NQ-size drill.[6]
Critical Company and Industry Developments[edit]
On September 19, 2022, the company announced its first successful battery-grade lithium carbonate production. It achieved a massive milestone with 99.94% lithium carbonate (Li2CO3) derived from lithium-bearing claystone from its 100% owned Clayton Valley Lithium Asset. The Li2CO3 was obtained from an intermediate concentrated lithium solution produced at Century’s Lithium Extraction plant in Amargosa Valley, Nevada. Saltworks Technologies Inc. was instrumental in the completion of the processing system design and pilot work to produce the Li2CO3 after the direct lithium extraction (DLE) process.[7]
Century, on February 9, officially announced it had sealed its collaboration for applying the Li-Pro process for DLE with Koch Technology Solutions, a Koch Engineered Solutions firm at Century’s pilot plant facility in Amargosa Valley. Bill Willoughby, the President, and CEO of Century Lithium expressed his delight in working with Koch and termed the collaboration productive, hoping for a more fruitful project advancement.[8]
The company reported its financial performance for Q3 2022, which ended on September 30 on November 15, 2022. As an exploration and development stage company, Century recorded zero revenues. Its total assets are $59,136,485 in value from $37,274,018 in Q4 2021. The increase was attributed to an $18,138,720 receipt from a bought deal issued by the company, consisting of 9,058,000 units at $2.00 per unit. Its working capital increased from $22,953,963 as of December 31, 2021, to $31,372,555 as of September 30, 2022.[9]
Leadership[edit]
William Willoughby, Ph.D., PE, President, Chief Executive Officer, & Director
- A mining engineer with over 40 years of expertise in most aspects of natural resource development
- He has owned and served as a principal in Willoughby & Associates, PLLC., a consulting firm since 2014
- Before 2014, he was the President and COO of International Enexco Ltd.
- He has also served in various senior positions with Teck (Cominco)
- He has been a professional engineer since 1985. In 1989, he acquired his Doctorate in Mining Engineering & Metallurgy from Idaho University
Other members of the management team are Abraham (Braam) Jonker, CPA, CA, Chief Financial Officer; Spiros Cacos, MA, Vice President, Investor Relations; Corby G. Anderson, Ph.D., CEng, FIMMM, FIChemE, Technical Advisor, Metallurgy, Daniel W. Kalmbach, CPG, Manager, Geology & Technical Services, and Adam Knight, PE, Project Manager.[10]
ESG[edit]
Century Lithium is dedicated to providing quality health and safety conditions for its workforce and protection for the local communities in which it operates. It is also committed to obeying governance and environmental protection frameworks. The firm is committed to increasing ESG performance across its business activities, employees, and local communities. The firm's board has created and outlaid numerous measures captured on its ESG page.[11]
- ↑ Century Lithium Corp. Profile – CNBC News. Accessed on March 22, 2023.
- ↑ Century Lithium Corp. Company Profile – Seeking Alpha. Retrieved on March 22, 2023.
- ↑ CYPRESS DEVELOPMENT CORP. MANAGEMENT DISCUSSION AND ANALYSIS FOR THE NINE MONTHS ENDED - SEPTEMBER 30, 2022/ Business Overview, Pages 1 & 2 – Cyprus Lithium Presentations and Filings. November 15, 2022.
- ↑ CYPRESS DEVELOPMENT CORP. CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2022/NATURE AND CONTINUANCE OF OPERATIONS, Page 5 – Century Lithium resources.
- ↑ Clayton Valley Lithium Project Highlights – Century Lithium website. Accessed on March 22, 2023.
- ↑ CYPRESS DEVELOPMENT CORP. ANNUAL INFORMATION FORM FOR THE YEAR ENDED DECEMBER 31, 2021/History, Pages 10 & 11 – Century Lithium resources. Retrieved on March 23, 2023.
- ↑ CYPRESS DEVELOPMENT CONFIRMS PRODUCTION OF BATTERY GRADE LITHIUM CARBONATE – Yahoo Finance. September 19, 2022.
- ↑ CENTURY LITHIUM AND KOCH TECHNOLOGY SOLUTIONS COLLABORATE ON Li-Pro™ PROCESS FOR COMMERCIAL DIRECT LITHIUM EXTRACTION – Yahoo Finance News. February 9, 2023.
- ↑ CYPRESS DEVELOPMENT CORP. MANAGEMENT DISCUSSION AND ANALYSIS FOR THE NINE MONTHS ENDED - SEPTEMBER 30, 2022/ SUMMARY OF QUARTERLY RESULTS, Page 5 – Cyprus Lithium Presentations and Filings. November 15, 2022.
- ↑ Century Lithium Management – Century Lithium website. Accessed on March 23, 2023.
- ↑ Century Lithium ESG – Century Lithium website. Accessed on March 23, 2023.
