Noram Lithium Corp. (TSXV:NRM) (OTCQB:NRVTF)(TSXV:NRM) (OTCQB:NRVTF), Which is Strategically Positioned in Nevada, Could Potentially Be One of the Next Lithium Producers In America

America’s lofty electric vehicle (EV) sales goals may not be as far-fetched as initially thought now that the US government has stepped in with some serious cash.

The Biden Administration is on the hunt for domestic lithium sources to feed the nation’s thriving EV and battery market and is committing $700 million to ioneer’s Rhyolite Ridge Lithium-Boron Project a lithium mine in Nevada.

The Rhyolite Ridge Lithium-Boron Project, which is one of only a handful of lithium mining developments in the US, is a prospective supplier to Ford Motor and Toyota that could produce enough lithium for 370,000 EVs a year.1

Of course, this isn’t the US government’s first step towards meeting these goals. In August, the US Department of Energy (DOE) earmarked US$675 million to expand domestic critical materials supply chains2 and another US$12 million to help shore up a domestic supply of battery-grade lithium.3

Once Ioneer Ltd. gets US approvals, it expects to begin construction at the Rhyolite Ridge Lithium-Boron project in 2024.

In the meantime, the only active lithium mine in the US is Albemarle’s Silver Peak, also located in Nevada. Silver Peak is undergoing expansions and is expected to double its production from 6,000 tonnes per year of LCE to 12,000 tonnes in the near future, but more domestic supply is needed to meet ever-rising demand.

Fortunately, a well-financed junior called Noram Lithium Corp. (TSXV:NRM) (OTCQB:NRVTF)(TSXV:NRM) (OTCQB:NRVTF) is developing its high-grade Zeus lithium project that is located within 1 mile to Silver Peak. The Zeus project already has a robust Preliminary Economic Assessment (PEA) in place,4 which is a crucial analysis of the potential viability of mineral resources at the mining project and is advancing towards a Pre-Feasibility Study.

The results of the PEA were very promising, revealing an after-tax NPV(8%) US$2.67 billion, an IRR of 52%, a CAPEX of US$528 million, and over a 40-year life of mine (LOM), using US$14,250/tonne LCE establishing Noram among limited peers as the newest low-cost, high-grade, near-term lithium producer in North America.5

7 Reasons Investors Should Strongly Consider Noram Lithium Corp. (TSXV:NRM) (OTCQB:NRVTF)(TSXV:NRM) (OTCQB:NRVTF)

  1. ROBUST PEA (After-Tax) in Place for ZEUS Lithium Project: Through the Zeus Project, Noram Lithium Corp. (TSXV:NRM) (OTCQB:NRVTF)(TSXV:NRM) (OTCQB:NRVTF) has set up a shallow, low-cost sedimentary extraction operation that takes advantage of minimal crushing/grinding requirements, a low stripping ratio, that can scale to support a long mine life. The PEA highlights an after-tax NPV(8%) US$2.67B, an IRR of 52%, a CAPEX of US$528M, and over a 40-year life of mine (LOM). This calculation uses a modeled lithium carbonate equivalent (LCE) of US$14,250/tonne, well below the long-term forecasted price and the current price.
  2. Solid 43-101 Resource (LCE) in Place: 1.78 MT Measured & Indicated with 3.89 MT Inferred of Lithium Carbonate Equivalent (“LCE”). Noram Lithium completed a very successful drill program in 2022, which based on the announced results, should significantly increase the Measured & Indicated tonnage in the planned mineral resource update. For reference the entire country of Canada has an estimated 2.9 million tonnes of lithium resources (measured & indicated inclusive of reserves).6
  3. Top Ranked Mining Jurisdiction: Nevada is consistently ranked among the top mining jurisdictions in the world, recently being ranked #1 by the Fraser Institute in 2020, and #3 in 2021.7 By setting up in a globally-recognized mining jurisdiction, Noram Lithium is incredibly well-positioned ahead of the current ‘Lithium Supercycle’. The Zeus project is located next to a paved highway, with power lines running through the middle of its project, and adjacent to the ONLY currently producing lithium operation in the USA.
  4. Optimal Timing Within Global Lithium Scramble:With the lithium market predicted to remain in structural shortage until 20258, and shocking acute lithium shortages forecast by 20359 Noram Lithium Corp. (TSXV:NRM) (OTCQB:NRVTF)(TSXV:NRM) (OTCQB:NRVTF) is strategically positioned with great timing ahead of the perfect storm for an emerging ‘Lithium Supercycle’.10
  5. Well Funded: With ~$15.3 million (as at October 31, 2022), Noram Lithium Corp. (TSXV:NRM) (OTCQB:NRVTF)(TSXV:NRM) (OTCQB:NRVTF) is well-funded with no debt, and a low burn rate. The company is advancing towards the pre-feasibility stage and its 6th Resource Model update pending. The company is well funded to advance towards a Feasibility Study, which is the single most important study in the industry for any company, with no additional dilution anticipated until ~2024.
  6. Favorable Share Structure and Stakeholder Make-Up: Among the shareholder make-up of the company’s outstanding shares, ~12% of issued shares are held by Management, and ~16% strategic investment put in place in Q1 2022. As it stands, the company has less than 90 million shares issued, with significant re-rate upside as it pushes to complete two of its biggest catalysts.
  7. Expert Leadership Team:Noram Lithium Corp. (TSXV:NRM) (OTCQB:NRVTF)(TSXV:NRM) (OTCQB:NRVTF) has a highly-capable team that includes resource industry experts, with international mining experience in engineering, geology, and capital markets including newly appointed CEO Greg McCunn who brings 30 years of experience in mining leading companies like Galiano Gold, and Alio Gold;11 and Marcus Tomlinson, a technical expert that has over 30 years of experience in metallurgical process development, engineering and operations support.  His experience includes providing  technical services for Goldcorp, Barrick Gold, and Newmont.12

Global Scramble for Lithium Assets Firmly Underway, Amid Increasing Demand

If the USA wants to achieve its ambitious climate goals, it’s going to need all hands on deck.  The White House has committed to deploying $3 billion to boost domestic production of EV batteries and the minerals that make them.13

Tesla announced plans in October to build a lithium refinery on Texas’ Gulf Coast to help supply his company’s Gigafactory in Nevada.14

But the USA isn’t alone in working to ramp up its capabilities. Since 2010, lithium consumption has quadrupled.15

Situated in the same state as both the Tesla Gigafactory and the only lithium mine currently producing in the USA, Noram Lithium Corp. (TSXV:NRM) (OTCQB:NRVTF)(TSXV:NRM) (OTCQB:NRVTF) and its Zeus Lithium Project are in the eye of the storm. With its PEA in place, and an all-important Pre-Feasibility Study16 on the horizon, Noram’s future looks very bright indeed.  No better time to take a look at this developing story as they push aggressively to their potentially biggest year in their corporate history.

Noram Lithium Corp. (TSXV:NRM) (OTCQB:NRVTF)(TSXV:NRM) (OTCQB:NRVTF) is Adjacent to the Only Lithium Producer in the USA

In the United States in early 2021, the then-Trump administration approved plans for a $1 billion open-pit mine at Nevada’s Thacker Pass. The project is expected to receive all final permits in early 2023 and be well into construction soon after in Nevada.

Right now, the USA’s only producing mine is the Silver Peak mine, owned and operated by Albemarle.

Within Albemarle’s latest Q3 2022 financials, the company stated that new wells and expansion projects at Silver Peak continue to progress ahead of schedule, where the mine is expected to double production in the very near future from 6,000 tonnes per year of LCE to 12,000 tonnes.  Of note, Noram Lithium’s Zeus project highlights close to 32,000 tonnes per year when it gets into production for 40 years.17

Noram Lithium Corp.’s (TSXV:NRM) (OTCQB:NRVTF)(TSXV:NRM) (OTCQB:NRVTF) Zeus Lithium Project claims are located within just 1-mile of Albemarle’s lithium brine operations.18 Noram’s land position in Clayton Valley, Nevada, consists of 146 placer claims and 136 lode claims, covering 1,133 hectares (2,800 acres).

Between Albemarle’s operations and Noram Lithium’s (TSXV:NRM) (OTCQB:NRVTF)(TSXV:NRM) (OTCQB:NRVTF) land position lies a property comparable in size to the Zeus Property, that’s held by Cypress Development.

In February 2022, Cypress commenced its own Feasibility Study on its Clayton Valley Lithium Project, engaging Wood Plc as its independent lead author19, and later engaging Thyssenkrupp Nucera for design and engineering of its Chlor-Alkali Plant also as part of the Feasibility Study20.

Given its favorable positioning, Noram Lithium will gear up for its own Feasibility Study following the completion of the Pre-Feasibility Study.

Taking into consideration Noram Lithium’s (TSXV:NRM) (OTCQB:NRVTF)(TSXV:NRM) (OTCQB:NRVTF) optimal location of the Zeus Lithium Project, and the respectable resource already estimated so far, it’s worth looking at the sector and potential comparables also operating in the United States.

The Company has a Preliminary Economic Assessment (PEA) and a solid 43-101 Resource estimate of 1.78 MT Measured & Indicated and 3.89 MT Inferred of Lithium Carbonate Equivalent (“LCE”), but its market valuation is considerably lower than its competitors’.

While American Lithium’s stock is trading at a premium of over 8 times that of Noram Lithium (TSXV:NRM) (OTCQB:NRVTF)(TSXV:NRM) (OTCQB:NRVTF), its inferred resource in Nevada is 2 times larger.

As of January 26, 2023, shares of Noram Lithium (TSXV:NRM) (OTCQB:NRVTF) (TSXV:NRM) (OTCQB:NRVTF)were selling for $0.49, which is considerably lower than the average price of its peers.

Looking at the six-month stock price performance of Noram Lithium compared to some of its contemporaries, it is clear that this firm can weather market storms coming back up from a low of $0.31 in November.

Onward March Towards Feasibility: The Industry’s Single Most Important Study

As mentioned above, neighboring Noram Lithium Corp.’s (TSXV:NRM) (OTCQB:NRVTF) (TSXV:NRM) (OTCQB:NRVTF) Zeus Lithium Project is Cypress Development’s Clayton Lithium Project which has a Feasibility Study underway.

Because Feasibility Studies are crucial along the journey towards building an operating mine, it’s worth looking at how serious Noram is about reaching that stage in the near term.

Noram Lithium Corp. (TSXV:NRM) (OTCQB:NRVTF)(TSXV:NRM) (OTCQB:NRVTF) already has a Preliminary Economic Assessment (PEA) in place, which was so significant that the company immediately commenced engineering and resource modeling to push aggressively to a PFS and subsequent Definitive Feasibility (FS) study.

According to the robust PEA, Noram Lithium’s Zeus Lithium  Project (After-Tax) has a US$2.67 Billion NPV (8%), 52% IRR, CAPEX of US$528 Million, for a 40-year Life of Mine (LOM).

This is based off of the 43-101 Resource (LCE) in place of 1.78 MT Measured & Indicated, and 3.89 MT Inferred.25

Noram Lithium Corp. (TSXV:NRM) (OTCQB:NRVTF)(TSXV:NRM) (OTCQB:NRVTF) completed its Phase VI exploration program consisting of 12 holes on time and within budget in the summer of 2022. The program focused on upgrading the existing inferred resources into the measured and indicated categories to be utilized in the company’s upcoming Pre-Feasibility Study (PFS)33, which is in its final stages.26,27

ALL of the drill holes from the program intersected high grade lithium over significant lengths, and upon completion in the upcoming weeks, Noram anticipates a robust 6th resource model that may align the company with its peers regarding contained M&I resources of lithium carbonate equivalent (LCE).

Well-Funded for Upcoming Milestones To 2024

Thanks to closing a US$14 million strategic financing in Q1 2022, at a premium to market, with no warrant and no finder’s fee or commission,Noram Lithium Corp. (TSXV:NRM) (OTCQB:NRVTF)(TSXV:NRM) (OTCQB:NRVTF) is fully financed through 2023.

Solid Share Structure with Key Strategic Investors

Much of the credit for Noram Lithium Corp.’s (TSXV:NRM) (OTCQB:NRVTF)(TSXV:NRM) (OTCQB:NRVTF) current financial situation goes to Waratah Capital Advisors who led the strategic investment in Q1 2022 at C$0.825 per share at a premium to the market with no attached warrant, which highlights the significant nature of Noram’s Zeus Lithium Project and its robust economics

Between Lithium Royalty Corp. and Waratah Capital Advisors, approximately 16% of Noram’s issued shares were acquired, with the former purchasing a 1% Gross Overriding Royalty (GOR) for US$5M.

There is an option embedded to purchase an additional US$9M at C$1.50 up to a maximum of 19.9%; and if Noram Lithium Corp. (TSXV:NRM) (OTCQB:NRVTF)(TSXV:NRM) (OTCQB:NRVTF) trades at C$1.50, LRC/Waratah will have only 30 days to exercise their options.

Proven and Focused Leadership Team

Leading the way for Noram Lithium Corp. (TSXV:NRM) (OTCQB:NRVTF)(TSXV:NRM) (OTCQB:NRVTF) is a very capable team in Management and the Board of Directors, with many decades of experience and accomplishments in the mining industry, and includes:

Greg McCunn, PEng, MBA

Chief Executive Officer

McCunn has over 30 years’ experience in the mining industry with extensive experience in finance, operations, project engineering, project construction and corporate development.  Mr. McCunn recently served as CEO of Galiano Gold, a junior gold producer with an operating mine in Ghana, West Africa.  Previous to that he served as CEO of Alio Gold, a junior gold producer with assets in Mexico and the USA. He has also served as CFO for Galiano Gold and as CFO for Farallon Mining, prior to which he held technical, operational and corporate development roles with Teck Resources, Placer Dome and junior mining companies in Canada and Australia. 

Sandy MacDougall

Founder, CEO and Director

MacDougall has over 30 years of experience in the investment banking and finance industry. As a former investment advisor at Canaccord Capital Corp., MacDougall has been involved in numerous significant financings in Canada and abroad for a wide range of companies. His experience includes extensive exposure to precious and base metal projects throughout North and South America.

Adam Falkoff

Director

Falkoff has over 20 years of experience in public policy, international relations, and business development. He’s advised CEOs of the Fortune 100, Presidents, Prime Ministers, Cabinet Ministers and Ambassadors. As President of CapitalKeys, a bipartisan global public policy and strategic consulting firm based in Washington D.C., with offices in London and Singapore, Falkoff successfully helped clientele understand, anticipate, and navigate the complex public policy environment as well as develop strategies for business development driving client revenues. He is also the interim president of RARE, The Association for Rare Earth. In 2018, Falkoff received the Ellis Island Medal of Honor for service to the United States of America and was named to the Washington, D.C., Power 100, a list of the 100 most influential non-elected people by Washington Life Magazine.

Dr. Vahid Sohrabi

Board Technical Advisor

Dr. Sohrabi is a Senior Hydrogeologist/Geochemist at Ecoventure and has more than 19 years of experience in the field of environmental services in Canada and internationally. He’s been involved in numerous mining/oil and gas/environmental projects including different resource projects in the O&G and Mining industries. His hydro-geochemical knowledge and environmental management expertise have been instrumental in a wide array of resource projects in different stages of their lifecycle, including the design of feasibility studies of mines and mineral processing units. More recently Dr. Sohrabi has been involved in several lithium projects and played a major role in the feasibility study of lithium brine projects in the Middle East by contributing to the field program testing design, the onsite trial management, the result evaluations, and the decision-making for ongoing activities of such deposits, in addition to the final mine development planning. 

RECAP: Top 10 Reasons Why Noram Lithium (TSXV:NRM) (OTCQB:NRVTF)(TSXV:NRM) (OTCQB:NRVTF) Could Be One Of the Next Lithium Producers In the USA

  • Optimal Timing Within a Global Lithium Scramble
  • Top Ranked Mining Jurisdiction
  • Robust PEA in Place for Zeus Lithium Project
  • Established Large 43-101 Lithium Resource in Place
  • Fully Funded to 2024 with close to $15M in its treasury and no debt
  • Tight Share Structure with Strategic Shareholder Base
  • Experienced Leadership Team in Engineering, Capital Markets, Geology
  • Updated 6th Resource Model Pending Q1 2023 – Catalyst #1 – Re-rate Opportunity
  • Advancing a Pre-Feasibility Study – Catalyst #2 – Re-rate Opportunity
  • Push to Completion of Definitive Feasibility Study – Catalyst #3 – Re-rate Opportunity

With an upcoming Pre-Feasibility Study (PFS) and well-funded, Noram Lithium, Corp. (TSXV:NRM) (OTCQB:NRVTF)(TSXV:NRM) (OTCQB:NRVTF) could be one of the shining stars in this down market with several exciting milestones and catalyst events on the horizon.

Please do your own due diligence, and don’t forget to click here to subscribe for email updates and make sure you don’t miss out on any of Noram Lithium’s (TSXV:NRM) (OTCQB:NRVTF)(TSXV:NRM) (OTCQB:NRVTF) news and milestones.

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