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XOM in talks w/ Automakers to supply Lithium
Posted: Mon Jul 31, 2023 1:48 pm
by tlengoc
Hi Dan,
DLE is a game changer.
https://seekingalpha.com/news/3993593-exxon-in-talks-with-automakers-to-supply-lithium-albemarle-jumps?mailingid=32248886&messageid=2900&serial=32248886.79099&utm_campaign=rta-stock-news&utm_content=link-3&utm_medium=email&utm_source=seeking_alpha&utm_term=32248886.79099
XOM bought a lot of land in Arkansas.
This looks good for SLI, ROK and others too who are embracing DLE.
Re: XOM in talks w/ Automakers to supply Lithium
Posted: Mon Jul 31, 2023 2:30 pm
by tlengoc
https://finance.yahoo.com/news/exxonmobil-xom-build-arkansas-facility-152700191.html?guccounter=1
Exxon Mobil Corp XOM has intended to construct one of the largest lithium processing plants in Arkansas, with a capacity to produce 75K–100K metric tons of lithium annually, according to a report from The Wall Street Journal.
The company anticipates that the plant's production would be equivalent to around 15% of the finished lithium produced globally in the previous year.
According to the report, the massive project may be developed in stages, with modular trains built together or in separate locations near its future lithium production facilities in South Arkansas.
ExxonMobil is drilling for lithium instead of oil as it prepares for a future that will be less reliant on gasoline. The company is attempting to establish a presence in Arkansas which is considered to have lithium deposits, to manufacture the material and evaluate the viability of extraction technologies.
Companies are growing more confident in scaling up technology to extract lithium from the Smackover formation, a geologic trend that stretches from Texas to Florida. It is rich in saltwater brine and includes modest levels of lithium.
Re: XOM in talks w/ Automakers to supply Lithium
Posted: Mon Jul 31, 2023 3:30 pm
by dan_s
If you are not familiar with Direct Lithium Extraction (DLE), you should listen to the replay of our recent webinar hosted by LithiumBank.
Here is the replay link: https://www.youtube.com/watch?v=PU1yX64Vc-k
Yes, DLE is a "Game Changer" and Koch Industries and Exxon would not be investing BIG BUCKS in DLE projects if they did not think it worked.
ROK Resources (in our Small-Cap Growth Portfolio) is now almost debt free, and it has a lot of running room. My current valuation of $0.75 has nothing in it for their DLE potential.