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South American Lithium Projects Set to Flourish in Battery Metal’s Projected 2024 Rebound Year
USA News Group Commentary
VANCOUVER, BC, April 30, 2024 /PRNewswire/ — Coming off a major market correction in 2023 down from 2-2022’s record highs, the lithium market is primed for a rebound in 2024. Analysts at MorningStar using data shared from Platts, LME, Benchmarked Minerals, Fastmarkets, and MorningStar itself are forecasting lithium prices to stabilize and rise in 2024, and to nearly double from $17,000 to $30,000 per metric ton from 2023 to 2030. As the Electric Vehicle (EV) market moves towards a projected $1.66 trillion by 2030, lithium demand is expected to triple from 2022 levels over that time. Today with more than 65% of the world’s lithium reserves, it’s in Latin America where some of the most promising new projects are still under development, including from Lithium South Development Corporation (TSXV: LIS) (OTCQB: LISMF), POSCO Holdings Inc. (NYSE: PKX), American Lithium Corp. (NASDAQ: AMLI) (TSXV: LI), Sigma Lithium Corporation (NASDAQ: SGML) (TSXV: SGML), and Atlas Lithium Corporation (NASDAQ: ATLX).
As an integral part of the prolific Lithium Triangle, Argentina is on pace to become a Top 3 Lithium Producer status by 2027. One of the more prominent developing stories within Argentina’s Salta Province is the Hombre Muerto North Lithium (HMN Li) project, 100% owned by Lithium South Development Corporation (TSXV: LIS) (OTCQB: LISMF) which late last year produced a newly upgraded NI 43-101 technical report, revealing a remarkable 175% increase in its lithium resource to more than 1.58 million tonnes of lithium carbonate equivalent.
Based on this newly defined N.I. 43-101 lithium resource, Lithium South has just completed a Preliminary Economic Assessment (PEA). This technical and financial evaluation was based upon a potential 15,600 tonne per year lithium carbonate technical grade operation. The envisioned mining facility would use industry standard solar evaporation to extract the lithium. The financial model looked impressive with a after tax Net Present Value of US$938 million, an after-tax Internal Rate of Return of 31.6% and a short 2.5-year payback.
This year has started off with an interesting development between Lithium South and POSCO Argentina SAU, a wholly owned subsidiary of Korean giant, POSCO Holdings Inc. (NYSE: PKX). A key southern portion of the HMN Li Project, the Norma Edith and Viamonte contiguous claim group, is located in a zone of dual jurisdiction between Catamarca and Salta Provinces. POSCO has the Catamarca side and Lithium South has the Salta side. To facilitate development of the area, POSCO and Lithium South have agreed to share brine production from this area on a 50/50 basis. The area may offer the ability for Lithium South to substantially increase the overall potential size of the HMN Li Project. We are awaiting drilling to start in this area.
At the Alba Sabrina claim block, a 400 meter deep pumping well has just been completed. The next step is a long term pump test which is currently underway. Early indications are that the well may offer high productivity. The well was described by the company as exhibiting strong artesian characteristics, which means the brine is flowing out on its own. This hole will be very important in establishing the project viability.
Outside of the Lithium Triangle are still other promising projects in Latin America, including the Falchani lithium project in Peru developed by American Lithium Corp. (NASDAQ: AMLI) (TSXV: LI). Earlier in January 2024, Reuters reported the Falchani’s project value had tripled from the previous forecast to $5.11 billion and that it would have a potential operating life of 32 years.
“The very large increase in NPV combined with a low initial capex and robust economics in the updated PEA for Falchani are the culmination of successful work programs at site and flow sheet optimization over the last couple of years combined with an improved lithium pricing environment,” said Simon Clarke, CEO of American Lithium in the Updated PEA Falchani highlights press release. “We are also extremely pleased to now include the compelling strategic and economic value proposition of adding SOP fertilizer and cesium sulfate by-products to the robust economic potential of core, high purity lithium production at Falchani. This PEA update is a major step towards completion of pre-feasibility work.”
In Brazil, Sigma Lithium Corporation (NASDAQ: SGML) (TSXV: SGML) ended 2023 on a high note, announcing its fifth shipment of 22,000 tonnes of what they call “the most environmentally sustainable lithium in the world” from their Greentech Plant which is operating at its design capacity of 270,000 tonnes per year. The initial buyer of Sigma’s lithium is mining giant Glencore which prepaid 50% of the shipment’s value upon completion of loading, reflecting the load’s provisional premium price for the operation’s unique Quintuple Zero Green Lithium concentrate. Sigma followed this up by signing a letter of intention (LOI) for development bank debt of approximately US$100 million to fund construction of its fully licensed second Greentech Industrial Lithium Plant.
“Despite the recent deterioration in the outlook for lithium demand for the short term, the Company believes that with the appropriate capital structure enabled by this development bank financing, it has a unique opportunity to solidify its global industrial competitive leadership in producing low cost and sustainable pre chemical lithium concentrate,” said Sigma CEO and Co-Chairman, Ana Cabral-Gardner.
Set to join Sigma as a Brazilian lithium producer in the near future is Atlas Lithium Corporation (NASDAQ: ATLX), which back in December 2023 reported was fully funded to first production in 2024. This came through gaining commitments with two top lithium chemical companies: Chengxin Lithium Group and Yahua Industrial Group, suppliers of lithium hydroxide to Tesla, BYD, and LG, among others. Goldman Sachs served as financial advisor to Atlas Lithium through these transactions.
Atlas would go on to kick off 2024 by intersecting high-grade lithium mineralization at its Neves Project, including 1.96% Li2O over 3.4m.
“We remain very encouraged by both the widths and grades coming out of our latest drilling campaign results,” said James Abson, Atlas Lithium’s Chief Geology Officer. “The recently discovered Anitta 4 mineralized pegmatite cluster is also starting to become more cohesive, with at least two parallel mineralized dikes now being delineated within the swarm. These latest intersects continue to expand the pegmatite body in both down-dip and along-strike orientations.”
Source: https://usanewsgroup.com/2023/10/18/the-lithium-race-to-power/
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COCA Celebrates Q2 2024 with Record-Breaking Milestones and New Launches
HONG KONG, Aug. 7, 2024 /PRNewswire/ — COCA, a pioneering force in the crypto wallet and financial services industry, has achieved several remarkable milestones in Q2 2024. Thanks to the steadfast support of its user community, COCA has launched new features, expanded its partnerships, and garnered prestigious accolades, further solidifying its position as a leader in the crypto space.
Launch of Physical Cards
COCA has introduced its highly anticipated physical cards, which are now available globally and compatible with Apple Pay and Google Pay. These cards allow users to make transactions with ease, earning cashback rewards on their purchases. This significant launch marks a step forward in integrating crypto with everyday financial activities, enhancing user convenience and financial flexibility.
Wallet Growth Milestone
The company has reached a significant milestone with 510,000 active wallets, reflecting a 102% growth quarter-on-quarter. This surge in active wallets highlights the increasing trust and adoption of COCA’s platform, as more users join the COCA community to manage their crypto assets securely and efficiently.
Transaction Volume Surge
In Q2 2024, COCA processed over USD 450,000 in transactions through its platform, demonstrating the robust usage and popularity of its financial services. This impressive transaction volume underscores COCA’s commitment to providing smooth and efficient crypto payment solutions.
Integration with Revolut
COCA has made it easier for users to fund their wallets by integrating with Revolut. This new feature allows seamless loading of crypto assets, enhancing the overall user experience and accessibility of COCA’s services.
Award Recognition
COCA has been honoured with the “Best Startup” award in the Financial Revolution category at CONF3RENCE & BLOCKCHANCE 2024. This award is a testament to COCA’s innovative approach and significant impact on the future of finance, recognizing its efforts in driving forward the digital financial ecosystem.
New Strategic Partnerships
COCA has formed strategic partnerships with industry leaders such as Wirex Pay and GoMining. These collaborations aim to provide users with enhanced rewards and a superior overall experience. The partnerships signify COCA’s dedication to expanding its ecosystem and delivering greater value to its users.
Welcoming Pavel Matveev
COCA is excited to announce the addition of Pavel Matveev, Founder of Wirex, to its team as a Strategy and Product Advisor. Pavel’s extensive experience and visionary approach are expected to drive COCA’s strategic initiatives and product development, contributing to the company’s continued growth and innovation.
Season 2 Point System Launch
Season 2 of COCA’s popular point system has launched, offering users the opportunity to earn points through various activities, including trades, referrals, holding assets, and spending with COCA cards. With a prize pool of USDT 3500 and 5 Wirex Pay Nodes, this season promises exciting rewards and increased user engagement. The season ends on August 9th, so users are encouraged to participate actively.
NFT Giveaway
In a special giveaway, COCA distributed 1000 GoMining NFTs to lucky users. These NFTs provide unique benefits, including enhanced mining capabilities and exclusive digital collectibles, adding significant value to the user experience.
For further details on COCA’s Q2 achievements and upcoming initiatives, visit the company’s blog.
Website: coca.xyz
COCA continues to redefine the crypto experience with its innovative solutions, seamless integrations, and user-focused approach. The company’s recent milestones and future plans highlight its commitment to leading the way in the digital financial landscape.
About COCA
COCA is a next-generation crypto super app designed to simplify and secure the crypto experience for users worldwide. With innovations in security, usability, and integration, COCA is at the forefront of the digital asset revolution. For more information, visit coca.xyz.
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Stake and Earn with KuCoin’s Innovative GemPool Platform
VICTORIA, Seychelles, Aug. 7, 2024 /PRNewswire/ — KuCoin, a leading global cryptocurrency exchange, is excited to announce the launch of GemPool, its innovative new platform that allows users to acquire token airdrops as a reward for staking their crypto assets. This unique product is designed to provide early access to emerging crypto projects while offering rewards for their existing holdings at zero cost. By staking respective tokens in separate pools, users can farm new tokens and gain a foothold in the latest developments within the cryptocurrency market.
GemPool also offers flexible staking terms, allowing users to stake and un-stake their assets anytime within the designated period without lock-up restrictions. This flexibility ensures that users can manage their assets according to their preferences and market conditions. Additionally, GemPool provides zero-cost rewards, enabling users to earn tokens while holding their existing cryptocurrencies. By staking their tokens, users contribute to the growth of promising new projects, supporting innovation and development within the crypto space. With completion of tasks offered, users are eligible to earn multiplier bonus and receive more rewards.
Users can participate by staking KCS, USDT, or other specified assets in designated pools. The rewards are earned according to the respective yields of the pools, ensuring a fair and exciting experience for all users.
For more information on how to participate and the benefits of GemPool, please visit the KuCoin GemPool page.
About KuCoin
Launched in September 2017, KuCoin is a leading cryptocurrency exchange with its operational headquarters in Seychelles. As a user-oriented platform with a focus on inclusiveness and community engagement. It offers over 900 digital assets across Spot trading, Margin trading, P2P Fiat trading, Futures trading, and Staking to its 34 million users in more than 200 countries and regions. KuCoin ranks as one of the top 6 crypto exchanges. KuCoin was acclaimed as “One of the Best Crypto Apps & Exchanges of June 2024” by Forbes Advisor and has been included as one of the top 50 companies in the “2024 Hurun Global Unicorn List”. Learn more at https://www.kucoin.com/.
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Trust Wallet Launches Gamified Education Platform and Loyalty Program to Enhance and Reward Web3 Learning
DUBAI, UAE, Aug. 7, 2024 /PRNewswire/ — Trust Wallet, the world’s leading self-custody Web3 wallet and Web3 gateway trusted by over 130 million users, has launched Trust Wallet Quests, a gamified education platform within the Trust Wallet mobile app which encourages users to earn points while exploring and learning about Web3.
Users can engage in task-based challenges ranging from quizzes to complex problem-solving scenarios composed of various DeFi and Web3 activities, all designed to deepen their understanding of blockchain technology and decentralized applications (dApps), and expose them to exciting opportunities within Web3. As an incentive, users will earn Trust Points, a loyalty-based points system designed to reward user activity within the Trust Wallet mobile app. With Trust Points, users can earn rewards upon the completion of specific tasks, making Web3 more rewarding and fun.
In the future, Trust Points will offer additional gamification features, such as unlocking achievements, badges, and levels. This interactive approach not only boosts individual learning but also contributes to broader community education and adoption of decentralized technologies, making Trust Wallet Quests a dynamic and exciting way to reward loyal users and engage with communities in Web3.
On the motive for launching Trust Wallet Quests, Eowyn Chen, CEO of Trust Wallet, stated: “The complex technology and fast-paced industry can be intimidating for both new and seasoned users. The introduction of Quests on Trust Wallet further solidifies our commitment to making it easier for millions to navigate Web3, aligning perfectly with our mission to build a seamless Web3 hub and open ecosystem for all.”
Nate Zou, Head of Product at Trust Wallet, highlighted what to expect from Trust Points and Trust Wallet Quests: “Trust Points and Quests are just the first iteration of a much-needed reward system for our community. Within 2024, we have plans to build on this, combining rewards with many of our other web3 product offerings. Overall, we envision this points system not only changing how users engage with Trust Wallet, but also encouraging more collaboration between Trust Wallet, our users and other web3 ecosystem players.”
Trust Wallet Quests and Trust Points are now available on both Android and iOS versions of Trust Wallet’s mobile app. Download here: https://short.trustwallet.com/TrustWalletQuests
About Trust Wallet
Trust Wallet is the self-custody, multi-chain Web3 wallet and Web3 gateway for people who want to fully own, control, and leverage the power of their digital assets. From beginners to experienced users, Trust Wallet makes it easier, safer, and convenient for millions of people around the world to experience Web3, access dApps securely, store and manage their crypto and NFTs, buy, sell, and stake crypto to earn rewards, all in one place and without limits.
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