LithiumBank Resources (LBNKF) Update - May 31

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dan_s
Posts: 34465
Joined: Fri Apr 23, 2010 8:22 am

LithiumBank Resources (LBNKF) Update - May 31

Post by dan_s »

Notes below are from one of our EPG members in Calgery that is much more knowledgeable about LithiumBank than I am. He has a lot of experience in Canadian mining industry.
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Bullet points on LithiumBank Resources Corp. (TSX-V: LBNK)(OTCQX: LBNKF):

> LBNK has put together the largest portfolio of lithium assets, at over 4 million acres, in 2019/20 when nobody cared about lithium.

> LBNK is unique in that it doesn’t have just a single project, but 3 district scale projects, where each district has the potential for multiple projects, therefore providing risk mitigation.

> LBNK’s Boardwalk asset has an average grade for petrobrine not unlike E3, but where it sets itself apart is its geology, the producing zone is 350 meters thick and has unmatched deliverability. They have wells that produce over 10k/cu/d and no oil and gas operators to cooperate with, so it’s not only (1) faster to commercial production than any other petrobrine but (2) capable of larger scale lithium production than any other project including hard rock spodumene assets or salars.

> LBNK has three PEA’s to come in 2023. More projects under PEA than peers Standard, Lake and E3 combined (their combined mkt caps are approximately north of $2.5B) or multiples higher than LBNK currently.

> Paul Matysek, Executive Chairman of LNBK, is the largest shareholder and has sold 6 PEA’d projects to majors including 2 lithium projects. All projects successfully went into production.

> E3 Bashaw district is their only asset and is 59 cu/kms of brine at 75 mg/l for 16M tonnes LCE. LNBK’s Park Place asset is 76 cu/Kms of brine. LNBK is sampling with an expectation of grade at over 100mg.
Dan Steffens
Energy Prospectus Group
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