(MENAFN - Baystreet.ca) Lithium stocks, like Albemarle Corporation (NYSE:ALB), Sociedad Quimica y Minera de Chile (NYSE:SQM), and E3 Metals (TSXV:ETMC) (OTC:EEMMF) are on the move. All thanks to rising lithium prices, electric vehicle demand from Tesla (NASDAQ:TSLA), and industry news Orocobre Ltd. (TSX:ORL)(OTC:OROCF) will acquire Galaxy Resources Ltd., creating a $3 billion miner and one of the world's biggest producers of lithium, reports The Wall Street Journal.
Helping, by 2030, the world will see 125 million EVs on the road, which will only drive further demand for lithium supply. In fact, "It is anticipated demand for vehicle battery metal will increase sharply over the next several years as automakers abandon internal combustion engines for EVs," says Resource World.
One of the Companies Benefiting from Demand is E3 Metals (TSXV:ETMC)(OTC:EEMMF)
E3 Metals Corp. (TSXV:ETMC)(OTC:EEMMF) an emerging lithium developer and leading direct lithium extraction technology innovator just announced that the Calgary Testing Facility ("the Facility") is fully operational and staffed with an expanded team. This Facility positions the Company to achieve its goals as it works towards the construction and operation of a field pilot plant. Through this work, the team plans to fully demonstrate the capabilities and effectiveness of E3 Metals' proprietary Direct Lithium Extraction technology.
Outlined in the December 1, 2020 News Release , the Company set out to relocate all lab development from Ontario and North Carolina to be closer to the head office in Calgary, AB. E3 Metals' Facility operates under a threefold mandate of objectives; to finalize the sorbent synthesis and process development, build and operate a pilot prototype in the facility, and design and guide the fabrication of the field-based Pilot to be operated on our project site in South-Central Alberta.
The Calgary Facility officially opened in February and has made significant progress to accelerate its advancement in the DLE technology. The manufacturing capabilities for E3's IX sorbent material are fully operational, as is the continuous flow system that enables advanced process test work. E3 Metals is continuously generating the Li-IX solution, our proprietary high grade and high purity lithium concentrate, from Alberta brines demonstrating the full capabilities of the DLE technical team. This team is currently running a series of detailed tests with the new flow system and the Company anticipates results to be available in the coming months. These results will serve as the foundation for the successful implementation of our DLE technology within our field-pilot.
"E3 Metals' vision is to become a global player in the production of lithium products for the growing EV battery market," commented E3 Metals' CEO Chris Doornbos. "The DLE technology forms the foundation of the Company's plans to commercialize lithium production in Alberta. I am very proud of the team which has been working diligently and safely getting the facility operational. I look forward to sharing our continued progress with the market as we advance towards a field pilot."
Other related developments from around the markets include:
Albemarle Corporation , a leader in the global specialty chemicals industry, announced that it will release its first-quarter 2021 earnings after the NYSE closes on Wednesday, May 5, 2021. The company will hold its conference call to discuss first-quarter 2021 results on Thursday, May 6, at 9:00 a.m. ET. This call will be webcast and can be accessed through Albemarle Corporation's website.
With regards to Sociedad Quimica y Minera de Chile, "Brazilian private equity firm IG4 Capital has delivered a $916 million bid to buy into holding companies that have large stakes in Chilean lithium miner Sociedad Quimica y Minera de Chile, known as SQM, two sources with knowledge of the matter said. If SQM's shareholder Julio Ponce agrees to the proposed deal, IG4 would become one of the largest shareholders of the world's second largest lithium producer," as reported by Reuters.
Tesla will post its financial results for the first quarter of 2021 after market close on Monday, April 26, 2021. At that time, Tesla will issue a brief advisory containing a link to the Q1 2021 update, which will be available on Tesla's Investor Relations website. Tesla management will hold a live question and answer webcast that day at 2:30 p.m. Pacific Time (5:30 p.m. Eastern Time) to discuss the Company's financial and business results and outlook.
Orocobre Ltd. and Galaxy Resources Ltd. announced that they have entered into a binding Merger Implementation Deed under which the two companies will merge via a Galaxy Scheme of Arrangement pursuant to which Orocobre will acquire 100% of the shares in Galaxy. Galaxy shareholders will receive 0.569 Orocobre shares for each Galaxy share held at the Scheme record date. Upon implementation of the Scheme, Orocobre shareholders will own 54.2% of the fully diluted share capital of the combined entity and Galaxy shareholders will own the remaining 45.8%.
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