Breaking: First DOE Money for the EV Supply Chain Hits Nevada Lithium Producer
US Government Initiates $135 Billion1 Stimulus for Domestic EV Supply Chain
Editorial Feature | June 12, 2023
- By 2030, 2,700 GWh worth of batteries will be necessary for EVs each year — equivalent to 225 billion iPhone 11 batteries. That’s 13X more battery power than we use today.2
- EVs alone will need at least 20.8 billion pounds of lithium, requiring a 20X jump in output. Right now, production isn’t even close to keeping up. In fact, the spot price of lithium has jumped 150% since the beginning of 2022 already — with the biggest jumps in demand still to come.3
- Making matters worse, the lithium supply chain is dominated by China — which produces almost 60% of the white metal. That’s why the recently passed Inflation Reduction Act earmarks $135 billion for the domestic EV supply chain — with lithium one of the key strategic resources in lithium-ion batteries that power EVs (and everything else battery-powered in tech today).
- The first loans and grants are hitting the industry — with a $700 million loan to ioneer, funding its lithium processing plant4. But that’s just the start of the required massive buildout.
- Lithium Americas just announced General Motors was investing $650 million in its Thacker Pass Property, which is moving into construction.
- Ameriwest Lithium (OTC:AWLIF, CSE:AWLIOTC:AWLIF, CSE:AWLI) has four projects in Nevada, within a few hundred kilometers from ioneer’s Rhyolite Ridge project and the Tesla Gigafactory. And another project sampled by the USGS in the 1960’s in Arizona with known historic lithium results.
- With a tiny US$11 million microcap, this lithium explorer could be set for growth and market appreciation, subject to exploration success.
“You will find there is a ‘sold out’ sign on every operating mine at the moment. There will be some bad moments in the coming years where there will be a shortage of lithium production.”
~ Davis Archer, CEO Savanah Resources, March 10, 2021 Wall Street Journal
The first funds from the Inflation Reduction Act are starting to trickle out.
And they are going exactly where they should be at this point — building out our nation’s lithium-ion battery supply chain.
With the jump in EVs — the US government has an unofficial goal of hitting 50% EVs by 2030.
Batteries are needed to store energy from wind and solar power in the grid. And in battery-powered high-tech gadgets in general, the demand for critical inputs is growing faster than supply can keep up. That’s not to mention the prevalence in batteries and battery-materials in the nation’s weapons and defense industry.
There’s a reason lithium is on the USGS’s list of critical and strategic minerals5.
Ioneer has received the first loan — worth $700 million, nearly the entire bill for completing the company’s proposed lithium processing plant.
But that’s just the first drop. A veritable deluge is on the way — with $135 billion earmarked so far. As the lithium supply crunch becomes more acute, more funds will hit in the months and years ahead.
That’s why small lithium exploration and mining companies could be some of the most profitable investments on the markets today.
The case for lithium production is strong — with overall demand growing at least 4x over the coming years, and EV demand growing 20x6… while supply currently is nearly stagnant. Throw in the $135 billion in government stimulus, and we’re looking at potentially one of the largest secular bull runs any commodity has seen in living memory.
With or without government money rolling in…
The world right now is in a desperate race to establish lithium supply lines.
The stakes couldn’t be higher. The future of the economy — indeed, arguably all of modern society — hangs in the balance.
But the truth is, we’re incredibly behind schedule.
To keep up with demand, we need to add at least 384 new mines for battery metals by 20357. But we’re nowhere near that pace. Add up every new or proposed lithium project in the world, and it’s not enough to keep up.
To make things worse, between 2018 and 2020, low prices for raw lithium led major miners to cut back or scuttle plans for new projects.
Now that lithium prices have soared beyond $76,000 a metric ton, they’re now scrambling to restart old projects and scout for new ones. But it’ll take years to catch up.
The question isn’t whether lithium exploration and mining companies will do well. The question is which ones will do best.
That’s why Ameriwest Lithium (OTC:AWLIF, CSE:AWLIOTC:AWLIF, CSE:AWLI) is well positioned to be potentially one of the most exciting investment opportunities over the coming years.
With five prospective lithium exploration projects, each with the potential to host significant lithium resources (subject to exploration success), Ameriwest is on the ground floor of the current and ongoing bull run in battery metals and perfectly positioned for growth and value appreciation.
Get in Before the Crowd
You could argue that now is the best possible time to dive into your research on Ameriwest Lithium (OTC:AWLIF, CSE:AWLIOTC:AWLIF, CSE:AWLI).
That’s because the company is still in early stages of growth. After making strategic property acquisitions, the company is beginning to move projects to the point where it may be able to develop lithium mineral resources, subject to exploration success. Traditionally, the first announced resource numbers are when junior miners start to see gains in their market value.
And when those measured and indicated mineral resources get further advanced, if the company is successful in its exploration efforts, and ultimately generates proven and probable mineral reserve numbers, the value of the company typically increases further. An in-demand material like lithium, that is hitting a supply squeeze, adds extra fuel to the fire.
2023 will start to see Ameriwest putting its exploration plans into effect. We expect to start to see steady bursts of exploration results as Ameriwest Lithium’s geologists finally crack open its Thompson Valley, Railroad Valley, and other projects.
This is the perfect time for Ameriwest Lithium to explore its prospective lithium properties. This market will only get hungrier for new lithium supplies as shortage questions loom.
Set Up for a Long Secular Bull
These are anxious times for companies on the demand side, which need hundreds of thousands of additional tons of lithium to stay afloat.
Hundreds of thousands of additional tons, with very few new suppliers in sight.
There’s a reason Elon Musk, when talking about the Tesla supply chain, is virtually begging entrepreneurs to find ways to provide his and related companies with battery metals.
These demands have led some analysts to now estimate that the lithium supply will grow about 4X over the next several years, from the 320,000 metric tons mined in 2021, to 1.4 million metric tons by 20308.
That pace may seem historic, but even quadrupling the supply means lithium demand will come up about 1.6 million metric tons short.
Other analysts now forecast that demand is expected to hit 1.1 million metric tons by 2025 and 3 million tons by 2030, according to Reuters.9
That begs the multi-billion dollar question… where the heck is all that extra lithium going to come from?
The truth is, it will need to come from multiple sources, all developing multiple sites.
America’s Untapped Lithium Projects Come to Life
Four of Ameriwest Lithium (OTC:AWLIF, CSE:AWLIOTC:AWLIF, CSE:AWLI) properties are located in the mining-friendly jurisdiction of Nevada. A fifth property is in Arizona, which is a state also being recognized for its lithium exploration potential.
The U.S. has been successfully extracting lithium from brines in Clayton Valley, Nevada since the sixties — it has long been the only active source of domestic lithium production in modern times.
Albemarle’s Silver Peak Mine currently produces 5,000 metric tons of lithium carbonate each year.10
And since lithium carbonate prices have jumped more than 469% these last few years, Albemarle’s small mine is now worth a fortune.11
In fact, that relatively small output helped drive Albemarle’s share price up more than 229% between January 2020 and May 2022.13
Ioneer’s Rhyolite Ridge lithium-boron clay project is also in this area — only 25 km from Silver Peak.13 While not yet a producing mine, ioneer is on the fast track to change that, having recently signed a deal to supply 4,000 tonnes of lithium carbonate annually for five years to Prime Planet Energy & Solutions, a joint battery venture between Toyota Motor Corp. and Panasonic Corp.
Add to that the news about the U.S Energy Department’s $700 million loan to develop Rhyolite Ridge, which shot ioneer shares up 16.3% in a single day, and you can see why this region is quickly becoming a coveted lithium hot spot.
At Thacker Pass, in northern Nevada, Lithium Americas Thacker Pass Mine hosts the largest known lithium clay resource in the U.S. and it is expected to be the next producing lithium mine in the U.S. Lithium Americas just announced the start of construction – with plans to ultimately produce 80,000 tons of lithium carbonate per year. It also just announced a $650 million investment from General Motors.
No Wonder Tesla Built Its Gigafactory Here
Albemarle’s Silver Peak mine sits atop Clayton Valley’s world-class brine deposit, estimated to hold 300,000+ tons of lithium14.
A deposit so rich that the U.S. Geological Survey calls it “the best-known [brine] deposit in the world.”15
And projects like Thacker Pass and Rhyolite Ridge will follow.
So, it’s no wonder that Elon Musk decided to build his first Tesla battery plant just 200 miles to the north of Silver Peak and in the vicinity of other developing lithium projects.
Nevada is:
One of only three places in the world that produce the lithium chloride needed to make li-ion batteries.16
At full capacity, the Gigafactory will consume 35,000 tons of lithium carbonate per year to manufacture its batteries.17
That is equal to around 14% of the current global output, and immensely more than the Silver Peak mine alone can produce.18
In 2022, Tesla delivered 1.31 million EVs. If that pace continues, it will require today’s entire global supply of lithium.
Already, the Gigafactory makes more li-ion batteries than all other carmakers in the world combined.19 To keep up with growth, Tesla’s going to need to secure a whole lot more lithium carbonate.
That prospect is what led Elon Musk to make a startling declaration, revealing what could lead to a monumental industry shakeup.
In response to data that showed there had been a 1,654% rise in the lithium price in the last ten years, Musk stated, the “Price of lithium has gone to insane levels! Tesla might actually have to get into the mining & refining directly at scale, unless costs improve.”
Soon after, on an earnings call last year, Musk claimed, “We think we’re going to need to help the industry on this front. I’d certainly encourage entrepreneurs out there who are looking for opportunities to get into the lithium business.”
If Musk indeed plans to get into the mining business, either directly through project acquisition, or indirectly through funding, it puts all eyes on explorers and potential future producers like Ameriwest Lithium (OTC:AWLIF, CSE:AWLIOTC:AWLIF, CSE:AWLI) Ameriwest’s properties are located in strategic locations where potential concentrates from extraction can efficiently be shipped to Tesla’s refining operation near Reno, Nevada.
Ameriwest’s First Lithium Discovery
In Thompson Valley, Arizona, Ameriwest Lithium has an enviable project that could be rich in lithium clays, similar to the grades found in the Clayton Valley region.
Early last year, the company began Phase 1 exploration on this 2,859 acre property. Geologic and structural mapping was conducted to dial in the potential targets, followed by an initial surface soil sampling program.
What they discovered was highly promising.
Assay results from 44 surface grab samples show lithium contents ranging from 15 to a whopping 1,670 ppm Li.
From the 44 samples submitted for assaying, 27% had lithium contents greater than 500 ppm, and 9% were greater than 1,000 ppm.
Details about these exploration results, including QA/QC procedures, can be found in an August 10, 2022, press release on the company’s website or filed on www.sedar.com.
David Watkinson, President and CEO of Ameriwest stated,
“We are very excited to make this first significant discovery of lithium for the Company on our five properties located in Nevada and Arizona. This sedimentary clay deposit has surface or near-surface exposures of lithium-bearing materials that were deposited in a lacustrine environment and have potential to host a significant lithium deposit, subject to exploration success. Continued exploration is warranted and will include additional surface sampling to define drill targets. Once the drill targets are defined and permitting is complete, Ameriwest’s technical team looks forward to drilling the property with the ultimate goal of delineating lithium resources.”
Only weeks after this announcement, the company doubled down on Thompson Valley, announcing the renewal of its original seven permits, as well as the addition of six new mineral exploration permits by the Arizona State Land Department.
These additional permits encompass an acreage of about 3,410 acres. That means, together with recently acquired Federal mining claims, total mineral rights have been nearly doubled to just over 6,890 acres.
Moving forward, the Arizona State Land Department has approved an expanded surface sampling program, which allows up to an additional 300 samples.
That means updated assay results could be just a matter of months away.
Here’s where it gets even more exciting.
Until recently, there was no viable way to economically mine these type of near-to-the-surface clays, which can be made up of as much as 82% lithium.20
But new technologies not only make mining lithium clays possible, but perhaps the most profit-laden method of lithium mining to date.
Take for example America n Lithium (OTC:LIACF), which first hit investors’ radar when it developed a similar lithium clay project called TLC in Nevada.
That rocketed the stock for a 3,300% gain in just over 12 months.21
Now bear in mind — Ameriwest has five promising projects in place, any of which could result in discoveries and ultimately establish resource estimates in the near-term.
All it usually takes is one positive survey result to see an exploration company’s valuation rocket higher.
Ameriwest’s Railroad Valley: The Next Untapped Clayton Valley?
Now here’s a matter of critical importance. Albemarle is in Clayton Valley, in tight quarters with at least eight other lithium-focused companies.
But there is another, virtually identical geological formation nearby, to the east in Railroad Valley.
Railroad Valley is currently virtually untouched and unexplored, except for historic oil and gas exploration. But that is changing rapidly — and Ameriwest is leading the charge. 3PL Operating Inc., a private exploration firm, is also exploring a property to the north.
Ameriwest Lithium (OTC:AWLIF, CSE:AWLIOTC:AWLIF, CSE:AWLI) is one of the first companies into Railroad Valley… which even the USGS says is geologically similar to Clayton Valley.22
The US Geological Survey says it has real potential to host lithium bearing brines in its subterranean aquifers beneath the valley floor.23
The main difference is that Railroad Valley represents a new and virtually unexplored target, with no competition for water rights by other mining competitors, except 3PL Operating.
But the real excitement is due to size of the drainage basin… The Northern Railroad Valley drainage basin is about four times the size of the Clayton Valley drainage basin, and comparable in size to the Salinas Grandes salt flat in Argentina.
News over the last few months points to the aggressive action the company is taking here.
In August last year, Ameriwest announced it was initiating a deep target geophysical study on the Railroad Valley prospect.
Subsequent announcements suggest evidence of a large potential brine deposit. So large, in fact, that the company quickly moved to substantially increase its footprint at Railroad Valley.
Two months later, Ameriwest announced, “…based on positive preliminary results from a recent geophysical survey, the Company has elected to stake 150 additional placer claims on its Railroad Valley property in Nye County, Nevada.”
The Company then acquired an additional 224 placer claims from American Battery Technology Company (OTCQX: ABML) increasing the total size of the property to 780 placer claims, totaling 15,300 acres.
In the same time frame, Ameriwest spun off all its gold prospects in what appears to be a total commitment to the prospects of its U.S. lithium projects.
That’s a telling move, a compelling clue to what company insiders are viewing as the lithium future for Ameriwest.
Ultimately, Ameriwest Lithium (OTC:AWLIF, CSE:AWLI) checks all the boxes for investors looking to make a move into a junior lithium explorer with another potential Clayton Valley type deposit. Its 21-square mile (15,300 acres) swath of Railroad Valley has these stellar attributes:
- Only 95 miles to the West of the Tesla Gigafactory (even closer than Clayton Valley)
- Enclosed, fault-bounded basin valley surrounded by volcanic rocks (a common source for lithium)
- Hot springs in the basin area (another sign this is a good potential source for lithium)
- A deep basin containing a thick sequence of saturated sediments
- Dry lakebed (playa) that is exposed to evapotranspiration
- Historic oil drilling activities and seismic surveys have provided invaluable data for targeting potential brine aquifers
Exploration to date has included combined geophysical studies (gravity, MT, and seismic). The geophysics data shows potential for a sizeable discovery. The data indicates the presence of a large brine reservoir at a depth of approximately 2,000 ft to 4,000 ft below Railroad Valley’s surface.24
Next, subject to the permitting process and financing activity, comes a drilling and exploration program.
If a lithium brine resource is ultimately generated at Railroad Valley, it will be one of the few lithium brine resources identified to date in North America. And has potential to be one of the largest brine resources in the US — making the Railroad Valley property potentially one of the most valuable lithium projects in the world. But that, of course, is subject to exploration success and proving lithium is present in the brines and at sufficient concentrations to be economically viable.
The Sleeping Giant At Edwards Creek Valley
Ameriwest Lithium holds the rights to explore another Nevada project, just 215 miles northwest of the Tesla Gigafactory. The company recently optioned this property to Nova Lithium, who can earn a 51% interest in the property by spending $500,000 in exploration over a 24-month period. Nova will also be responsible for claim payment costs over the earn-in period. After the option is exercised, a joint venture for exploration and development will be implemented.
This one is in the Edwards Creek Valley in a hydrologically closed basin with a playa — a flat desert basin where water evaporates quickly. The size is slightly smaller than Clayton Valley, but Ameriwest and Nova control the entire basin.
A recent ground geophysical survey produced a “gravity map” that revealed evidence the property contained a large basin that could be a host for lithium brines.
Ameriwest saw how that basin spread to the east, and subsequently jumped on the “additional claims” shown on the map above. These new claims bump the company’s Edwards Creek Valley holdings to 1,243 contiguous claims, totaling a whopping 22,200 acres.
That gives Ameriwest Lithium’s Edwards Creek Valley project one of the largest lithium footprints in North America.
The Edwards Creek Valley claims could yield a substantial lithium resource, subject to exploration success. The entire area is identified as a “hydrologically closed basin”, which means that virtually any resource generated in the valley through exploration will accrue to Ameriwest’s lithium resource valuation.
Just last August, the company conducted an extensive magnetotelluric geophysical survey at Edwards Creek, which indicated the property could potentially host a large shallow brine target and several deeper targets.
David Watkinson, President, and CEO of Ameriwest stated,
“We are extremely excited by the results of the MT Survey, especially the delineation of a large near surface brine target that appears to be almost 20 square kilometers in size. The Company plans to move forward with permitting to test this shallow target with drilling and will ultimately follow up with testing of the deeper targets in the future.”
As you can see from the map below, the shallow conductivity zone, in red, occurs at surface, and is estimated to have an area approximately 8 square miles and 300 to 600 feet thick. Deeper conductive zones are also present, as shown in blue.
Future exploration drilling will reveal the full extent of the exploration potential, so this is one to watch closely.
The three most advanced projects are discussed above. The company’s two additional properties are in Clayton Valley (brine target) and Little Smoky Valley (clay target).
The team at Ameriwest is optimistic about its numerous projects in well-known lithium areas or in areas with similar geology that are yet unexplored. Note that no mineral resources or mining reserves have yet been delineated on Ameriwest’s properties.
The current plan is to focus on permitting and drilling the Thompson Valley Property first, where surface sampling has delineated drill targets. Subject to financing activities, the company will then permit and drill its other properties. The goal is to make lithium deposit discoveries, in both clay and brine properties, and subsequently explore and delineate mineral resources.
But if you wait until after the results are announced, you could miss the best opportunity to invest in a company with the potential to make a discovery of one or more lithium deposits.
That’s why now is the perfect time to do your due diligence on Ameriwest Lithium (OTC:AWLIF, CSE:AWLIOTC:AWLIF, CSE:AWLI).
1https://www.whitehouse.gov/briefing-room/statements-releases/2022/10/19/fact-sheet-biden-harris-administration-driving-u-s-battery-manufacturing-and-good-paying-jobs/
2https://www.forbes.com/sites/danrunkevicius/2020/12/07/as-tesla-booms-lithium-is-running-out/?sh=615454371a44
3https://cen.acs.org/energy/energy-storage-/Challenging-Chinas-dominance-lithium-market/100/i38
4https://www.reuters.com/business/autos-transportation/us-offers-700-million-loan-ev-battery-material-project-2023-01-13/
5https://d9-wret.s3.us-west-2.amazonaws.com/assets/palladium/production/s3fs-public/media/files/2022%20Final%20List%20of%20Critical%20Minerals%20Federal%20Register%20Notice_2222022-F.pdf
6https://www.axios.com/pro/climate-deals/2022/10/18/energy-increase-mining-lithium-batteries
7https://source.benchmarkminerals.com/article/more-than-300-new-mines-required-to-meet-battery-demand-by-2035
8https://www.forbes.com/sites/danrunkevicius/2020/12/07/as-tesla-booms-lithium-is-running-out/?sh=615454371a44
9https://www.statista.com/statistics/1225076/global-lithium-mine-production-projection/
10https://www.mining.com/mountain-pass-sells-20-5-million/
11https://www.miningmagazine.com/supply-chain-management/news/1402188/ablemarle-to-double-silver-peak-lithium-production
12https://tradingeconomics.com/commodity/lithium
13https://www.ioneer.com/projects/about-rhyolite-ridge/
14https://finance.yahoo.com/quote/ALB?p=ALB&.tsrc=fin-srch
15https://pubs.usgs.gov/pp/1802/k/pp1802k.pdf pK10
16https://pubs.usgs.gov/of/2013/1006/OF13-1006.pdf
17http://www.meridian-int-res.com/Projects/Lithium_Problem_2.pdf
18https://pubs.acs.org/doi/10.1021/cen-09431
19https://www.tesla.com/gigafactory
20https://www.globenewswire.com/en/news-release/2021/06/29/2254603/0/en/American-Lithium-Obtains-82-Lithium-Extraction-Using-Roasting-and-Water-Leaching-on-TLC-Claystones.html
21https://finance.yahoo.com/quote/LIACF?p=LIACF&.tsrc=fin-srch
22https://financialpost.com/globe-newswire/ameriwest-lithium-railroad-valley-geophysics-results-in-staking-of-additional-claims
23https://financialpost.com/globe-newswire/ameriwest-lithium-railroad-valley-geophysics-results-in-staking-of-additional-claims
24https://ameriwestlithium.com/ameriwest-lithium-nevada-exploration-update/
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FORWARD LOOKING INFORMATION
This document contains forward-looking information and forward-looking statements, within the meaning of applicable Canadian securities legislation, (collectively, “forward-looking statements”), which reflect expectations regarding Ameriwest Lithium future growth, future business plans and opportunities, expected activities, and other statements about future events, results or performance. Wherever possible, words such as “predicts”, “projects”, “targets”, “plans”, “expects”, “does not expect”, “budget”, “scheduled”, “estimates”, “forecasts”, “anticipate” or “does not anticipate”, “believe”, “intend” and similar expressions or statements that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved, or the negative or grammatical variation thereof or other variations thereof, or comparable terminology have been used to identify forward-looking statements. These forward-looking statements include, among other things, statements relating to: (a) revenue generating potential with respect to Ameriwest Lithium industry; (b) market opportunity; (c) Ameriwest Lithium business plans and strategies; (d) services that Ameriwest Lithium intends to offer; (e) Ameriwest Lithium milestone projections and targets; (f) Ameriwest Lithium expectations regarding receipt of approval for regulatory applications; (g) Ameriwest Lithium intentions to expand into other jurisdictions including the timeline expectations relating to those expansion plans; and (h) Ameriwest Lithium expectations with regarding its ability to deliver shareholder value. Forward-looking statements are not a guarantee of future performance and are based upon a number of estimates and assumptions of management in light of management’s experience and perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances, as of the date of this document including, without limitation, assumptions about: (a) the ability to raise any necessary additional capital on reasonable terms to execute Ameriwest Lithium business plan; (b) that general business and economic conditions will not change in a material adverse manner; (c) Ameriwest Lithium ability to procure equipment and operating supplies in sufficient quantities and on a timely basis; (d) Ameriwest Lithium ability to enter into contractual arrangements; (e) the accuracy of budgeted costs and expenditures; (f) Ameriwest Lithium ability to attract and retain skilled personnel; (g) political and regulatory stability; (h) the receipt of governmental, regulatory and third-party approvals, licenses and permits on favorable terms; (i) changes in applicable legislation; (j) stability in financial and capital markets; and (k) expectations regarding the level of disruption as a result of COVID-19. Such forward-looking information involves a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of Ameriwest Lithium to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: (a) Ameriwest Lithium operations could be adversely affected by possible future government legislation, policies and controls or by changes in applicable laws and regulations; (b) public health crises such as the COVID-19 pandemic may adversely impact Ameriwest Lithium business; (c) the volatility of global capital markets; (d) political instability and changes to the regulations governing Ameriwest Lithium business operations (e) Ameriwest Lithium may be unable to implement its growth strategy; and (f) increased competition. Except as required by law, the Website Host undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future event or otherwise.
HISTORICAL INFORMATION
Any graphs, tables or other information demonstrating the historical performance or current or historical attributes of Ameriwest Lithium or any other entity contained in this document are intended only to illustrate historical performance or current or historical attributes of Ameriwest Lithium or such entities and are not necessarily indicative of future performance of Ameriwest Lithium or such entities.
