Smackover Lithium Play - South Arkansas and East Texas - GoHaynesvilleShale.com2024-03-29T01:17:21Zhttps://gohaynesvilleshale.com/forum/topics/standar-lithium-news-release?xg_source=activity&feed=yes&xn_auth=noThanks Skip.
I also came acro…tag:gohaynesvilleshale.com,2024-02-25:2117179:Comment:40544982024-02-25T02:19:25.708ZSam Goodmanhttps://gohaynesvilleshale.com/profile/SamGoodman
<p>Thanks Skip.</p>
<p>I also came across IBAT's corporate presentation which came out at the end of January: </p>
<p><a href="https://www.ibatterymetals.com/hubfs/IBAT_Corporate-Update_1-30-24.pdf?hsLang=en" target="_blank">https://www.ibatterymetals.com/hubfs/IBAT_Corporate-Update_1-30-24.pdf?hsLang=en</a></p>
<p>What I found interesting about the Corporate Presentation was their Generation 2 unit on page 14. Brine capacity rises by a factor of 10x to 70,000bpd, with similar construction…</p>
<p>Thanks Skip.</p>
<p>I also came across IBAT's corporate presentation which came out at the end of January: </p>
<p><a href="https://www.ibatterymetals.com/hubfs/IBAT_Corporate-Update_1-30-24.pdf?hsLang=en" target="_blank">https://www.ibatterymetals.com/hubfs/IBAT_Corporate-Update_1-30-24.pdf?hsLang=en</a></p>
<p>What I found interesting about the Corporate Presentation was their Generation 2 unit on page 14. Brine capacity rises by a factor of 10x to 70,000bpd, with similar construction and deployment timeline of their first generation unit.</p>
<p><a href="https://storage.ning.com/topology/rest/1.0/file/get/12389110457?profile=original" target="_blank" rel="noopener"><img src="https://storage.ning.com/topology/rest/1.0/file/get/12389110457?profile=RESIZE_710x" class="align-full"/></a></p> Welcome, Sam. Yes, Joe Lovel…tag:gohaynesvilleshale.com,2024-02-25:2117179:Comment:40543272024-02-25T00:35:02.780ZSkip Peel - Mineral Consultanthttps://gohaynesvilleshale.com/profile/ilandman
<p>Welcome, Sam. Yes, Joe Lovelace brought Dr. Burba to our attention fairly early in our discussion. Note that this thread is approaching a year old. The major lithium players at this point have not mentioned Mobil Direct Lithium Extraction (MDLE). It appears that their business plans rely on central processing facilities and pipeline connections to brine wells. That would seem to be the right design for high capacity extraction projects. That being said, much is unknown about the best…</p>
<p>Welcome, Sam. Yes, Joe Lovelace brought Dr. Burba to our attention fairly early in our discussion. Note that this thread is approaching a year old. The major lithium players at this point have not mentioned Mobil Direct Lithium Extraction (MDLE). It appears that their business plans rely on central processing facilities and pipeline connections to brine wells. That would seem to be the right design for high capacity extraction projects. That being said, much is unknown about the best locations for Li concentrations and minimum brine flows. The best area(s) for concentrations may not be the best for volume of flow. In that scenario, MDLE may have a part to play. Pipelines will be expensive to build and maintain especially considering the highly caustic nature of SMK brine. Much is still unclear as to the basics of how this will all work. A number of us are doing our best to track down relevant data. Come along for the ride, it should be interesting.</p>
<p></p> New to the group, so I'm just…tag:gohaynesvilleshale.com,2024-02-24:2117179:Comment:40543982024-02-24T16:22:41.813ZSam Goodmanhttps://gohaynesvilleshale.com/profile/SamGoodman
<p>New to the group, so I'm just jumping on board here.</p>
<p>After taking screen shots of the article behind the Paywall I was able to read most of it. Interesting article! I was really interested in the use of new DLE technology in NE Texas and the Smackover area. I noticed they had a section on John Burba of International Battery Metals and his MDLE unit. Have any of you all heard from them or about them? It looks like they had a city meeting and they referenced Atlanta,…</p>
<p>New to the group, so I'm just jumping on board here.</p>
<p>After taking screen shots of the article behind the Paywall I was able to read most of it. Interesting article! I was really interested in the use of new DLE technology in NE Texas and the Smackover area. I noticed they had a section on John Burba of International Battery Metals and his MDLE unit. Have any of you all heard from them or about them? It looks like they had a city meeting and they referenced Atlanta, Texas. </p>
<p>I read earlier on the board someone had brought them up and using a small footprint on location, along with modular/mobility. This article came out about them moving their MDLE unit to a location in the western US back in January to begin extraction in 6 months:</p>
<p><a href="https://www.prnewswire.com/news-releases/international-battery-metals-ltd-announces-the-signing-of-a-term-sheet-for-our-modular-direct-lithium-extraction-plant-with-a-customer-302033162.html" target="_blank">https://www.prnewswire.com/news-releases/international-battery-metals-ltd-announces-the-signing-of-a-term-sheet-for-our-modular-direct-lithium-extraction-plant-with-a-customer-302033162.html</a> </p>
<p>There was also this article on Reuters: <a href="https://www.reuters.com/markets/commodities/international-battery-metals-leases-lithium-filtration-plant-us-production-2024-01-11/" target="_blank">https://www.reuters.com/markets/commodities/international-battery-metals-leases-lithium-filtration-plant-us-production-2024-01-11/</a></p>
<p>I assume they will start producing more of the MDLE units for lease as the year progresses. Any thoughts on them extracting lithium in 6 months or has anyone heard from them? This is their website: <a href="http://www.ibatterymetals.com" target="_blank">www.ibatterymetals.com</a> They appear to be further advanced than some of the other DLE companies and more inline with O&G in the Smackover region.</p>
<p>Thank you,</p>
<p>Sam Goodman</p>
<p></p> Lithium discovery potentially…tag:gohaynesvilleshale.com,2024-02-23:2117179:Comment:40544922024-02-23T20:20:39.034ZSkip Peel - Mineral Consultanthttps://gohaynesvilleshale.com/profile/ilandman
<p><strong>Lithium discovery potentially big enough to power 50M EVs fuels Louisiana land interest</strong></p>
<p><a href="https://www.shreveportbossieradvocate.com/users/profile/Liz%20Swaine">BY LIZ SWAINE | Staff writer</a> <span> </span><a href="http://shreveportbossieradvocate.com">shreveportbossieradvocate.com</a></p>
<p>"This is going to be just like the Haynesville Shale," Shreveport-based mineral consultant Skip Peel said. "It's freaky that it's so similar." Peel has been getting a lot…</p>
<p><strong>Lithium discovery potentially big enough to power 50M EVs fuels Louisiana land interest</strong></p>
<p><a href="https://www.shreveportbossieradvocate.com/users/profile/Liz%20Swaine">BY LIZ SWAINE | Staff writer</a> <span> </span><a href="http://shreveportbossieradvocate.com">shreveportbossieradvocate.com</a></p>
<p>"This is going to be just like the Haynesville Shale," Shreveport-based mineral consultant Skip Peel said. "It's freaky that it's so similar." Peel has been getting a lot of calls from land and mineral owners in Cass, Morris, Titus, Franklin and other east Texas counties. The big question is what the discovery of the lithium that is spurring the rush will mean to the land and mineral owners in Arkansas, Texas, and possibly, north Louisiana.</p>
<p>"The Haynesville Shale land rush is occurring all over again," Peel said, "but now the target is brine found in the Smackover Formation that contains lithium. This is a land rush that kind of flies under the radar because we're far, far, off from actually processing any of this brine to get the lithium out." The lag in getting processing plants up and running hasn't stopped companies that produce lithium, and lithium speculators who simply want to flip their lease holdings for a quick profit.</p>
<p>The Smackover Formation is a historic Louisiana oil discovery that has played a major role in Louisiana, Texas and Arkansas oil production since the 1920s. The geologic formation is huge, taking in part of all three states and portions of Mississippi, Alabama and Florida.</p>
<p>In the 1950s, the saltwater and mineral-laden brine produced in Smackover drilling was found to contain bromine, a chemical needed in a variety of uses from agricultural chemicals to pharmaceuticals.</p>
<p>Recently, lithium has been discovered in the brine. Lithium is chemical element crucial in the production of smartphones and electric vehicles and is the chemical the world is now chasing.</p>
<p>"Lithium projects are going on in south America, Canada, all over the world. Everybody is chasing lithium," Peel said. "Many of those (projects) are the old form of mining, hard rock mining or they are these evaporative surface ponds. All of those have big environmental problems. Smackover brine has fewer."</p>
<p>Smackover has attracted the interest of companies such as ExxonMobil, Albemarle, Lanxess and Standard Lithium. All are interested in the lithium present in the brine water that is measured in parts per million.</p>
<p>"Right now is the rush to find the 'sweet spots' where the lithium concentration is the greatest and there's enough water in the formation to support the kind of volumes that you need," Peel said. "South Arkansas has been around 300 ppm, but Standard Lithium in Cass County found concentrations that were like 680 ppm. This is still a game of where do you want to spend your money to get leases? You hope you can get some data to help you with that, but just like the Haynesville Shale, companies are leasing in places blind where there is no data."</p>
<p>How big is the lithium find? Some published industry reports say that the Smackover may contain enough lithium to power 50 million electric vehicles.</p>
<p>There are environmental questions as well as those dealing with how royalties will be paid, how much they will be and whether lithium is present in the Louisiana portion of the Smackover. "We haven't heard anything about Louisiana," Peel said, "but there could be companies out there testing older wells. I look at well permits every day, so I think if there were any new wells drilled to test Louisiana Smackover for lithium concentration I'd notice. It just hasn't happened yet. That doesn't mean that it won't."</p>
<p>It also doesn't mean Louisiana mineral owners and landowners aren't getting calls. Peel said it is common for companies to "go in on the QT and try to lease up all the large landowners." His advice for land and mineral owners is to be informed by following sites like <a href="https://gohaynesvilleshale.com/">GoHaynesvilleShale.com</a> and not be in too big a hurry to lease.</p>
<p>Even those who already have Haynesville Shale-related leases should be in the lithium game, Peel said. "Most oil and gas leases don't have language in them that would cover this produced water (brine)" he said, which means those owners could sign an additional lease for brine. He admits, though, that almost everything is up in the air. </p>
<p>"Everyone is looking for answers," he said, "that are not quite there yet."</p> Pantera Minerals announces st…tag:gohaynesvilleshale.com,2024-02-19:2117179:Comment:40544722024-02-19T12:56:48.715ZSkip Peel - Mineral Consultanthttps://gohaynesvilleshale.com/profile/ilandman
<p><strong>Pantera Minerals announces stake in south Arkansas lithium</strong></p>
<p>Monday, Fed. 19, 2024 by Joshua Turner El Darado News-Times</p>
<p>Australian company Pantera Minerals is coming to Columbia County to establish mineral wells, according to Barnaby Egerton-Warburton, chairman at Pantera and Arizona Lithium Limited and partner at Modena Ventures.</p>
<p>"In Arkansas, we have two guys on the ground permanently -- Cleve Thomas and John Bishop who manage our land," said…</p>
<p><strong>Pantera Minerals announces stake in south Arkansas lithium</strong></p>
<p>Monday, Fed. 19, 2024 by Joshua Turner El Darado News-Times</p>
<p>Australian company Pantera Minerals is coming to Columbia County to establish mineral wells, according to Barnaby Egerton-Warburton, chairman at Pantera and Arizona Lithium Limited and partner at Modena Ventures.</p>
<p>"In Arkansas, we have two guys on the ground permanently -- Cleve Thomas and John Bishop who manage our land," said Egerton-Warburton.</p>
<p>He said that the company has many people who are experienced in oil and gas, lithium and financial trading.</p>
<p>"When we started to look at the Smackover Formation and the brines in the US, this is the place we decided to go," said Egerton-Warburton.</p>
<p>He said that they have been studying brine extraction in Phoenix, Arizona and Canada, where they have plants operating already.</p>
<p>"We've had a lot of experience. We're surrounded by a lot of expertise. Smackover is interesting because of the great jurisdictional benefits of being in Arkansas," said Egerton-Warburton.</p>
<p>He said that they began leasing land and mineral rights for lithium extraction in January 2023 and since then have secured 50 thousand acres of brine rights in Lafayette County near Bradley.</p>
<p>Columbia and Lafayette County will see a boost in the local economies as lithium companies begin to work and extract lithium said Egerton-Warburton.</p>
<p>"The oil and gas industry in Arkansas is on the decline. Jobs are moving away from here and you see it as you go through towns like Smackover and even Magnolia. These were oil boom towns and now they are desperately searching for other industries to replace the oil gas industry. If you substitute jobs, which is what this will do, then it's a positive," he said.</p>
<p>Egerton-Warburton said that Pantera Minerals aims to hire from the local area to help boost the local economy.</p>
<p>"We've got to find local civil companies and local workers as well. Economically, you're bringing capital into the state. Then at a production level, you're paying taxes and royalties to the state and a lot of that can then go back into the counties," he said.</p>
<p>Tim Goldsmith Pantera Minerals Strategic Advisor said, "Every dollar we bring in normally has like five more dollars worth of value, created in your region because you're engaging it. By using local service providers for everything that one dollar creates a whole lot more in time. It brings a whole lot of activity and generates opportunity."</p>
<p>Egerton-Warburton said that unlike the larger companies looking to extract lithium, Pantera Minerals is looking to build multiple small extraction facilities which will have 30 to 40 employees each and could allow more people to be employed as the need for delivery vehicles, contractors, consultants and other workers increases.</p>
<p>"We're kind of small in terms of these other companies, but we're very nimble. We have two guys on the ground grinding it out leasing. At some stage we're going to get a third person and then a fourth person and a fifth person and we'll build," he said.</p>
<p>Egerton-Warburton said that despite the company's size they are already looking at how they can contribute to the communities they are working with.</p>
<p>They are talking with members of the Bradley community to learn what is needed to increase access to food, shelter and human rights so that they grow with the community he said.</p>
<p>The company is hoping to have its first processing facility ready within two years said Egerton-Warburton.</p>
<p>"The part of Australia where from which is a very entrepreneurial and innovative area which works with mining all around the world. We only survive because we understand that thing will only work well by working with the local community. What we do has to help create value in the location, not just for today. We would like communities to know that we aim to be a force for their good. We don't succeed and unless we have a strong community support us all the way through and we don't want to do this unless we have a strong point to support them," he said.</p>
<p>Egerton-Warburton said that while the lithium boom will help everyone in the area, the people who put in the work will see the most benefits and that they hope that it the small towns that benefited from the oil and gas boom can return to prosperity.</p> Projections like this will ha…tag:gohaynesvilleshale.com,2024-02-18:2117179:Comment:40545682024-02-18T22:15:58.525ZRock Manhttps://gohaynesvilleshale.com/profile/MarkP
<p>Projections like this will have some lithium groups quaking in their boots. </p>
<p>But not surprised at seeing lower demand forecast</p>
<p>Projections like this will have some lithium groups quaking in their boots. </p>
<p>But not surprised at seeing lower demand forecast</p> Top lithium producer cuts 203…tag:gohaynesvilleshale.com,2024-02-18:2117179:Comment:40545672024-02-18T22:06:00.062ZSkip Peel - Mineral Consultanthttps://gohaynesvilleshale.com/profile/ilandman
<p><strong>Top lithium producer cuts 2030 demand forecast on slower EV adoption - FT</strong></p>
<p>Feb. 18, 2024 <a href="https://seekingalpha.com/symbol/ALB?source=content_type%3Areact%7Csection%3Amain_content%7Csection_asset%3Ameta%7Cfirst_level_url%3Anews%7Csymbol%3AALB">Albemarle Corporation (ALB) Stock</a> By:…</p>
<p><strong>Top lithium producer cuts 2030 demand forecast on slower EV adoption - FT</strong></p>
<p>Feb. 18, 2024 <a href="https://seekingalpha.com/symbol/ALB?source=content_type%3Areact%7Csection%3Amain_content%7Csection_asset%3Ameta%7Cfirst_level_url%3Anews%7Csymbol%3AALB">Albemarle Corporation (ALB) Stock</a> By: <a href="https://seekingalpha.com/author/sa-editor-joshua-fineman?source=content_type%3Areact%7Csection%3Amain_content%7Csection_asset%3Ameta%7Cbutton%3Aauthor_name%7Cfirst_level_url%3Anews">Joshua Fineman</a>, SA News</p>
<p>Albemarle (NYSE:<a href="https://seekingalpha.com/symbol/ALB?hasComeFromMpArticle=false&source=content_type%253Areact%257Csection%253Amain_content%257Cbutton%253Abody_link%257Cfirst_level_url%253Anews">ALB</a>), the world's biggest lithium producer, reduced its 2030 demand forecast for the crucial battery ingredient as the shift to electric vehicles in the U.S. and Europe is moving slower than expected.</p>
<p>Albemarle (<a href="https://seekingalpha.com/symbol/ALB?hasComeFromMpArticle=false&source=content_type%253Areact%257Csection%253Amain_content%257Cbutton%253Abody_link%257Cfirst_level_url%253Anews">ALB</a>) forecast 3.3 million tonnes of lithium carbon equivalent to be needed globally by 2030, a 10% cut from its previous forecast of 3.7 million tonnes, according to a <a href="https://www.ft.com/content/d7a624ea-46a9-42b6-a1e6-8a5e47dfaedd">Financial Times report on Friday,</a> which cited an interview with Eric Norris, Albemarle’s president of lithium.</p>
<p>Norris told the FT the lithium producer is cutting its forecast as car manufacturers are delaying the launch of <a href="https://www.ft.com/electric-vehicles">electric vehicle</a> models in Western markets.</p>
<p>“Some models have been delayed, largely out of North America, which is pushing out the length of time of penetration [of EVs] in the US,” said Norris, adding that “potentially in parts of Europe” the shift is also expected to take longer.</p>
<p>Norris' comments come as lithium prices that <a href="https://seekingalpha.com/news/4067969-unsustainable-lithium-prices-must-rise-to-meet-demand-albemarle-ceo-says?hasComeFromMpArticle=false&source=content_type%253Areact%257Csection%253Amain_content%257Cbutton%253Abody_link%257Cfirst_level_url%253Anews">have plunged 80%</a> since the start of last year are "<a href="https://www.bnnbloomberg.ca/top-lithium-supplier-albemarle-says-prices-are-unsustainably-low-1.2035515">unsustainable</a>" and must rise in order to trigger the supply investments needed to meet long-term demand growth, Albemarle (<a href="https://seekingalpha.com/symbol/ALB?hasComeFromMpArticle=false&source=content_type%253Areact%257Csection%253Amain_content%257Cbutton%253Abody_link%257Cfirst_level_url%253Anews">ALB</a>) CEO Kent Masters said Thursday.</p>
<p>"We think prices today are unsustainable," Masters said on the company's <a href="https://seekingalpha.com/article/4670623-albemarle-corporation-alb-q4-2023-earnings-call-transcript?hasComeFromMpArticle=false&source=content_type%253Areact%257Csection%253Amain_content%257Cbutton%253Abody_link%257Cfirst_level_url%253Anews">post-earnings conference call</a>, adding that lithium projects in the West are especially at risk at current prices. "Incentivizing producers to meet this demand requires long-term pricing at or above investment economics."</p> Thanks for posting this.
Base…tag:gohaynesvilleshale.com,2024-02-15:2117179:Comment:40545652024-02-15T00:36:05.162ZRock Manhttps://gohaynesvilleshale.com/profile/MarkP
<p>Thanks for posting this.</p>
<p>Based on recent permits, it also appears that there are activities in Hopkins County - on trend and probably Smackover.</p>
<p></p>
<p>Thanks for posting this.</p>
<p>Based on recent permits, it also appears that there are activities in Hopkins County - on trend and probably Smackover.</p>
<p></p> Spindletop for the 21st centu…tag:gohaynesvilleshale.com,2024-02-15:2117179:Comment:40543052024-02-15T00:31:40.868ZJoe B. Lovelacehttps://gohaynesvilleshale.com/profile/JoeBLovelace
<p><strong>Spindletop for the 21st century: Has the East Texas lithium race begun?</strong></p>
<p><strong>By: Sam Shaw, Reporter, Longview-News Journal…</strong></p>
<p></p>
<p><strong>Spindletop for the 21st century: Has the East Texas lithium race begun?</strong></p>
<p><strong>By: Sam Shaw, Reporter, Longview-News Journal</strong></p>
<p><a href="http://https://www.news-journal.com/premium/spindletop-for-the-21st-century-has-the-east-texas-lithium-race-begun/article_b036a36c-c07b-11ee-aa4f-8f2a46e2e2a1.html" target="_blank" rel="noopener">https://www.news-journal.com/premium/spindletop-for-the-21st-century-has-the-east-texas-lithium-race-begun/article_b036a36c-c07b-11ee-aa4f-8f2a46e2e2a1.html</a></p>
<p>This article is very comprehensive and a piece of excellent journalism. The link above takes you to a Premium site for the article but I understand from Mr. Shaw<span> it will become un-paywalled next week. My email is amidad@aol.com. If you send me a request, I'll provide you with a PDF of the story.</span></p>
<p><span>Until then here is the introduction:</span></p>
<p class="yiv7100398420MsoNormal">For three years, a Canadian mining company called Standard Lithium operated in near-total secrecy, setting up shell companies, securing mineral leases across Northeast Texas and drilling wells to sample an underground ocean of brine called the Smackover Formation.</p>
<p class="yiv7100398420MsoNormal">Ten thousand feet beneath Cass County, the company found what it was looking for in the salty mixture — lithium, the key mineral for most electric batteries and an emerging centerpiece to global green energy plans.<span> </span>Then the company found something better.</p>
<p class="yiv7100398420MsoNormal">In March 2023, Standard said it discovered the highest grade of lithium in North America near McLeod, a stone’s throw from the Louisiana border. An even higher grade sample was exhumed in October further to the west in Franklin County.</p>
<p class="yiv7100398420MsoNormal">Brine leasing exploded in Cass, Morris, Titus and Franklin counties as other companies followed suit behind Standard, drilling the Smackover Formation in search of the lithium sweet spot.<span> </span>While Standard and its competitors say they’ve discovered a lithium goldmine below Northeast Texas, they also are making a case to land owners, lawmakers and investors about why the industry will improve the region, not damage it.</p>
<p class="yiv7100398420MsoNormal">That pitch hinges on how the brine will be mined, which differs sharply from methods used almost anywhere else. The experimental technique called Direct Lithium Extraction (DLE) eschews destructive pit mines and evaporation pools for a fracking-style well.</p>
<p class="yiv7100398420MsoNormal">DLE siphons the brine slurry from the earth, filtering out the lithium and reinjecting the waste fluid back underground.<span> </span>At stake is a slice of U.S. lithium demand, a pie predicted to grow to $55 billion by the end of the decade, according to a Reuters report.<span> </span>The U.S. produces just 1 percent of global lithium, and the prospect of localizing those dollars in rural Northeast Texas — and reducing dependence on China’s battery supply chain — has made a state built by oil an unlikely champion of green energy’s favorite mineral.</p>
<p class="yiv7100398420MsoNormal">Environmentalists and federal policymakers believe shoring up the supply of domestic lithium could have national or even global implications. Driving down the cost of the mineral could hasten the transition to electric vehicles and large battery packs that store renewable energy — all key steps, they argue, for cooling a warming atmosphere.</p>
<p class="yiv7100398420MsoNormal"><a href="https://storage.ning.com/topology/rest/1.0/file/get/12381792301?profile=original" target="_blank" rel="noopener"><img src="https://storage.ning.com/topology/rest/1.0/file/get/12381792301?profile=RESIZE_710x" class="align-left"/></a></p> Pantera Minerals leases more…tag:gohaynesvilleshale.com,2024-02-05:2117179:Comment:40540372024-02-05T15:28:00.680ZSkip Peel - Mineral Consultanthttps://gohaynesvilleshale.com/profile/ilandman
<p><strong>Pantera Minerals leases more lithium land in Lafayette County</strong></p>
<p>magnoliareporter.com February 5, 2024</p>
<p></p>
<p>Pantera Minerals Limited has announced that the acquisition of additional acreage has increased the Superbird Lithium Brine Project to 13,457 acres in Lafayette County, with a further 8,600 acres under negotiation.</p>
<p>Pantera has entered into a binding agreement with Daytona Lithium Pty Ltd to acquire 100% of the issued share capital in Daytona…</p>
<p><strong>Pantera Minerals leases more lithium land in Lafayette County</strong></p>
<p>magnoliareporter.com February 5, 2024</p>
<p></p>
<p>Pantera Minerals Limited has announced that the acquisition of additional acreage has increased the Superbird Lithium Brine Project to 13,457 acres in Lafayette County, with a further 8,600 acres under negotiation.</p>
<p>Pantera has entered into a binding agreement with Daytona Lithium Pty Ltd to acquire 100% of the issued share capital in Daytona Lithium, the holder of the Superbird Lithium Brine Project.</p>
<p>The company currently holds the right to acquire up to a 35% interest in the issued share capital of Daytona Lithium, through a $2 million Convertible Note Facility.</p>
<p>Daytona Lithium has established a conceptual exploration target ranging from 436,000 to 2,966,000 tonnes of contained Lithium Carbonate Equivalent (“LCE”) within the project’s 50,000 acre Exclusive Abstract Area, which houses the Superbird Project.</p>
<p>The estimate is based on lithium concentrations ranging between 225 mg/L and 450 mg/L with a median value of 338mg/L, showcasing the potential world-class scale of the project. The exploration target’s potential quantity and grade is conceptual in nature, there has been insufficient exploration to estimate a JORC compliant Mineral Resource, and it is uncertain if further exploration will result in the estimation of a such a resource.</p>
<p>Since Pantera’s initial investment, the Superbird Lithium Project has increased materially from 5,325 to now cover a land position of 13,457 leased acres, an increase of 152%.</p>