Lithium Corp - LTUM stock
Company Profile[edit]
Lithium Corporation (OTC: LTUM) is an exploration-stage mining company based in Nevada. Established in January 2007, the company engages in the identification, acquisition, and exploration of minerals and metals. It focuses on the mineralization of lithium across its properties located in Nevada, graphite, and other energy metal assets in British Colombia. Lithium’s property portfolio incorporates BC Sugar Flake Graphite, Fish Lake Valley, San Emidio, and The Hughes Claims. The company has an absolute interest in the Fish Lake Valley asset which encompasses 143 claims stretching approximately 11,360 acres in northern Esmeralda County, Nevada. The San Emidio property, located in Washoe County comprises 10 claims covering nearly 1,600 acres, while the BC Sugar Flake Graphite covers roughly 19,816 acres in the Cherryville area of British Columbia. Lithium Corp. leverages its internal expertise and infrastructure to seek potential interest in third-party projects with the ultimate goal of creating value and sustainability in its claims portfolio. The company was initially known as Utalk Communications Inc. before changing its name to Lithium Corporation in September 2009. The firm is headquartered in Elko, Nevada. Its common stocks are listed on OTC markets under the LTUM ticker symbol.[1]
Business Operations[edit]
Lithium Corporation heavily invests in its dual operations that incorporate exploration activities in lithium prospects in Nevada, and graphite and titanium/REE assets in British Colombia channeled at expanding its portfolio and generating significant value for shareholders. The company’s strategy positions it as an iconic explorer and a potential future producer and distributor of specialty metals vital for the production of high-tech applications and popular lithium-ion batteries. It has maintained a strategic 9-year relationship with Morella Corporation, its largest single shareholder for mutual benefit. The firm, as of 2021, had evaluated approximately 80 playas for lithium potential, and further developed and refined top methods destined for the discovery and the definition of the underlying deposit. LTUM oversees exploration activities in two Lithium projects in Nevada, The Hughes Precious Metal Project in Nevada, the Flake Graphite project, and an REE/Titanium project, both in British Columbia. In addition, the firm is conducting due diligence on numerous early-stage projects for potential acquisition.[2]
The energy system world over is transitioning towards clean energy. Countries and companies are laying fiscal procedures and strategies aimed at reducing greenhouse gas emissions to net zero and championing the deployment of an array of clean energy technologies. These mile-braking technologies are hugely propelled by critical metals such as lithium, copper, cobalt, nickel, and rare earth elements. LTUM’s mineral pipeline aligns with the energy sector’s trending raw material input, positioning the company for long-term relevance and profitability. Its North American exploration prospects ensure a secure pipeline for the supply of vital minerals for North American industries, organizations, and economies to help them achieve their sustainability targets.[3]
Lithium Projects’ Highlights[edit]
Fish Lake Valley, San Emidio, and North Big Smokie assets, all in Nevada, substitute LTUM’s lithium projects. The company’s lithium properties are located within and around the epicenter of the United State’s most significant lithium mineral base. Mineral-flooded North America provides ready and skilled labor, mining and processing expertise, mining-friendly jurisdictions, good infrastructure, and environmental protection among other positive attributes. Fish Lake Valley contains near-surface aquifers amenable to low-cost, sustainable extraction and processing techniques. LTUM holds 100% interest in the San Emidio property located in Washoe County. The project has excellent logistics with quality roads, power supply, labor, and a quality cell phone network. A survey in 2010 indicated a magnificent lithium anomaly. Located in Nye County, North Big Smoky has under-explored gaya with a massive lithium presence and good surrounding infrastructure.[3]
Vital Corporate and Industry Developments[edit]
The company filed its third quarter results for the period ended September 2022, on November 14, 2022. Highlights of its financial and operational results for the three months included:
- A net loss of $104,157, compared to a net loss of $56,326 in the same quarter of 2021
- Earned zero revenue, expected to stay constant in the succeeding quarter
- A cash balance of $3,424,685 and a working capital of $2,008,790[4]
LTUM announced its corporate update on November 3, 2022, incorporating results from surveys conducted on its mineral projects and an upgrade on the firm’s logo. A Controlled Source Audio Frequency Magnetotelluric (CSAMT) geophysical survey on the company’s San Emidio lithium-in-brine prospect yielded efficient results. A mini-bulk sample extracted from the asset was transported by ship to Recion Technologies in Edmonton for early-stage testing to determine its amenability to direct extraction using the latter’s proprietary technology. Recion managed up to 600% lithium concentration in a span of two hours, extracting approximately 95% of available lithium from LTUM’s Fish Lake Valley sample. The company also made public its plans to begin exploratory drilling activities at Fish Lake Valley in the later stages of Q4 2022 or early Q1 2023. The firm also redesigned and upgraded its logo.[5]
The company, on July 2022, provided shareholders with ongoing exploration updates on its respective properties. It reported that it was progressing with generative exploration on the Fish Lake Valley, aided by a hand-held Laser-Induced Breakdown Spectrometer, which advances instant analytical results for lithium. Work had also resumed on the Yeehaw Titanium/Rare Earth project while random chunks of mineralized lamprophyric rock were uncovered via hand-trenching on the Horseshoe Bend Ti/REE prospect.[6]
Management and Directors[edit]
Tom Lewis, President & CEO
- Has more than 40 years of global experience in the mineral Exploration and Oil & Gas industries
- Has worked in companies of different levels including junior and mid-tier firms
- He was the Nevada Gold Mines Goldrush deposit Geologist who spearheaded the planning and drilling of the first three intercepts
- He also has deep knowledge and experience about the mining jurisdictions in Nevada and British Columbia
Brian Goss, Vice President of Business Development
- Has more than 19 years of experience in the mining industry working as an Entrepreneur, Director, Executive, and Geologist, mostly in precious, base, and metals exploration sectors
- Mr. Goss founded and leads Rangefront Mining Services as president. The company, based in Elko, Nevada, engages in mining staffing and technological contracting
- He also cofounded co-founder of Rangefront Wheels
- Holds a BSc. Degree with Geology major and Associates Business Degree
James Brown, Director
- A professional mining engineer with massive operational and development expertise in exploration industries across Australia, Indonesia, and North America
- He held significant positions in his tenure in the underlying economies including mining planning and supervision, land acquisition, mine and business development, and government approvals
- He is the current manager of Morella Corp.
- He also serves on the Sayona Mining Limited board.[7]
Legal Issues[edit]
Lithium Corp.’s management recognizes that companies in the mining sector normally face legal challenges, especially on environmental impact breaches as a result of the heavy impact of the activities. In its latest form 10-Q, the company clarifies it is involved in no legal litigation and that no governmental institution was contemplating a lawsuit that would affect the firm’s operations.[8]
- ↑ Company Profile – seekingalpha.com/symbol/LTUM. Retrieved on 01/20/2023.
- ↑ Lithium Corporation January 2021 Investor presentation – Corporate Overview, Page 3. Retrieved on 01/20/2023.
- ↑ 3.0 3.1 Lithium Corporation Projects – Lithium Corporation Website. Accessed on 01/20/2023.
- ↑ Lithium Corporation Form 10-Q filed on 11/14/22 for the Period Ending 09/30/22, pages 25 & 26 – Seeking Alpha. Retrieved on 01/21/2023.
- ↑ Lithium Corporation Update November 2022 – Yahoo Finance. Retrieved on 01/21/2023
- ↑ Lithium Corporation Ongoing Exploration Work – Yahoo Finance. Accessed on 01/21/2023.
- ↑ Management and Directors – Lithium Corporation website. Retrieved on 01/21/2023.
- ↑ Lithium Corporation Form 10-Q filed on 11/14/22 for the Period Ending 09/30/22, page 32 – Seeking Alpha. Retrieved on 01/21/2023.
OTC Symbol: LTUM | OTC Tier: OTCQB
