Pan American Lithium Corp. CEO is Interviewed on CEONEWS.Tv
March 07 2012 - 8:37AM
Pan American Lithium Corp. www.panamericanlithium.com (TSX-V:PL)
(OTCQB:PALTF) CEO Andrew Brodkey said the company is poised for
growth in 2012 due to its strong combination of partnership
investment, control of key resource sites, and rapid growth in
global demand for lithium.
Brodkey made his remarks in an interview with CEONEWS.Tv, a
financial news network. A recording of the interview is available
at http://www.ceonews.tv/paltf/.
Pan American controls 11 salars, or dry lake beds, in a
lithium-rich, desert region of Chile, the country in Latin America
that has the most favorable business, regulatory, and legal climate
for mining, Brodkey pointed out. In addition to lithium, Pan
American plans to extract potash for fertilizer from brines salts
in these salars and from an additional lithium/potash property it
controls in Mexico, Brodkey said.
Brodkey noted that projected demand for lithium carbonate, which
is the form of lithium used for the batteries that power
smartphones, tablets, and conventional and hybrid automotive
batteries, was 100,000 metric tons in 2009. Demand reached
150,000 tons in 2011 and is projected to rise to 300,000 tons by
2020 and 500,000 tons by 2025. Figures were provided by Roskill,
the leading producer of independent mining industry reports.
Brodkey also pointed out that he learned recently at the top
international conference on lithium that some of the largest
current producers in the lithium mining industry, which previously
discouraged new entrants into the market, are now conceding that
growth in demand means there is room for new companies such as
Pan American.
In terms of investment partners, Brodkey cited a 19.9% stake, or
10.4 million shares in Pan American, that was taken in late 2011 by
the South Korean steel company, POSCO, which is the third-largest
steel maker in the world. The share price was approximately 14
cents a share, Brodkey said. Additional capitalizations include $1
million raised and a private placement in the form of a personal
investment by Brodkey.
Pan American was formed in late 2009 from an amalgamation of
nine Chilean properties containing lithium and potash brines with
an initial capitalization of $3 million, Brodkey said.
In addition, Brodkey pointed out that the capital required for
lithium and potash extraction from dry lake beds such as those
controlled by Pan American is much less than for the traditional
hard rock mines involving extraction of ore and crushing.
Operating costs for recovering lithium and potash from lake beds
involves pumping into surface ponding, drying, and processing which
is relatively inexpensive versus hard rock mining.
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: (i) the
Company's goal is to seize the next wave in mineral exploration and
production of lithium and (ii) we believe that our Company is
well-positioned to help meet the coming demand for lithium. 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) adverse market conditions; (ii) a decrease in demand for and
price of lithium; 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: Jodi Henderson, Corporate Secretary
1-520-989-0032
Email: jhenderson@kriyah.com
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