Pan American Lithium and Lithium Demand Are Highlighted in Seeking Alpha Chile Projects; Plans Are Detailed
October 31 2011 - 9:05AM
Pan American Lithium Corp. (TSX-V:PL) (OTCBB:PALTF) (OTCQB:PALTF)
has announced that the company was highlighted in a recent
investment news report in Seeking Alpha, by Dustin Moore: "Lithium:
The Energy Commodity of the Future".
The full text of the article is available at:
http://seekingalpha.com/article/301672-lithium-the-energy-commodity-of-the-future.
Pan American Lithium, which holds rights in 11 lithium and
potash-bearing brine projects covering over 20,000 hectares in
Chile, is poised to profit from the world's increasing need for
lithium, Moore said. Moore's article included comments from Pan
American CEO Andrew Brodkey, who pointed out that there has been
explosive demand for lithium in the past four to five years.
Citing the recent news buzz surrounding Apple and its new iPhone
4S, Moore pointed out that every mobile phone and most mobile
devices, regardless of the model or brand, need a battery and in
most cases such devices use a built-in, rechargeable lithium-ion
battery. The market for such batteries includes cameras and
laptops, among other devices, in what Moore termed today's
increasingly wireless world. Further adding to the demand for
lithium are the batteries for electric automobiles, Moore
added.
Brodkey noted that consumption of lithium-carbonate, which is
the form of lithium used for batteries, is about 100,000 metric
tons per year. This figure is projected to double or triple by the
end of this decade, and is expected to rise to 500,000 metric tons
by 2025, Brodkey said.
Brodkey added that Chile is the best country for mining
companies in South America due to that country's clear and stable
laws and regulations. The profit picture for lithium mining is
alluring, Brodkey said. Long-term contract prices for lithium
carbonate, coupled with low-cost brine operations can yield profits
of up to 100 percent, he noted.
Moore said that other countries with lithium reserves include
Bolivia, which is believed hold 50 percent of global lithium
reserves in one location. Production, however, has never
materialized due to the country's political situation. Currently,
about 70 percent of the world's lithium carbonate production
originates from Chile and Argentina.
Pan American Lithium's projects focus on brines in or under
salars (dry lake beds) in Chile. Such deposits are the most
economically viable mining locations for the production of lithium
carbonate, Moore said. Recovery of metals from brines is about
one-half of the cost of the recovery of lithium from traditional
rock mining methods, Moore noted.
On Behalf of the Board,
PAN AMERICAN LITHIUM CORP.
/s/ Andrew Brodkey
Andrew A. Brodkey
President and CEO
This press release contains projections and forward-looking
information that involve various risks and uncertainties regarding
future events. Such forward-looking information can include without
limitation statements based on current expectations involving a
number of risks and uncertainties and are not guarantees of future
performance of the Company, such as the statements that the Company
believes that through this agreement it will reach its goals, which
are to increase trading volume as well as achieving a fair market
value representation for Pan American shares while increasing the
investment community's awareness of the Company. There are numerous
risks and uncertainties that could cause actual results and the
Company's plans and objectives to differ materially from those
expressed in the forward-looking information, including: (i)
inability of the Company to complete its business plan; (ii) a
decrease in demand for and price of lithium or potassium; and (iii)
general uncertainties with respect to mineral exploration in
general. Actual results and future events could differ materially
from those anticipated in such information. These and all
subsequent written and oral forward-looking information are based
on estimates and opinions of management on the dates they are made
and are expressly qualified in their entirety by this notice.
Except as required by law, the Company does not intend to update
these forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
CONTACT: George McIntyre
CEOcast, Inc.
Tel: (212) 732-4300
gmcintyre@ceocast.com
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