Fintech PR
Lithium Based Batteries Offer Higher Energy Density Alongside Lower Emissions
FinancialBuzz.com News Commentary
NEW YORK, June 27, 2023 /PRNewswire/ — Lithium has emerged as a critical element in today’s world, revolutionizing the energy sector and driving advancements in technology. One of the key advantages of lithium is its efficiency in storing and releasing electrical energy. Lithium-ion batteries, for example, offer higher energy density, longer lifespan, and faster charging capabilities compared to traditional alternatives. These batteries contribute to reducing greenhouse gas emissions and dependence on fossil fuels, supporting the global shift towards sustainable energy. Such batteries are often used in electric vehicles (EVs), and as the demand for renewable energy and EVs continues to soar, the lithium market has become increasingly important. EVs are promoted as a sustainable transportation choice on account of life-cycle basis, as they emit fewer greenhouse gases (GHG) than conventional vehicles. For instance, Tesla is planning for next-generation EV batteries that would focus on introducing Li-iron phosphate batteries to market. This will cut the vehicle costs, and extend the vehicle range up to 400 miles per charge or more. Sage Potash Corp. (TSX-V: SAGE), American Lithium Corp. (NASDAQ: AMLI), Standard Lithium Ltd. (NYSE: SLI), Sigma Lithium Corporation (NASDAQ: SGML), FREYR Battery (NYSE: FREY)
The EV industry is still in early stages, yet the strong growth in lithium-ion battery production is now driving the entire lithium market. According to S&P Global, lithium prices are likely to see strong support in 2023, with supply expected to remain tight amid bullish demand arising from the accelerating adoption of electric vehicles across the globe. This is despite the slowdown in the Chinese market, which could affect prices as well. Platts, part of S&P Global Commodity Insights, assessed seaborne lithium carbonate and lithium hydroxide at USD 75,000/mt CIF North Asia and USD 81,000/mt CIF North Asia Dec. 20th, up 122% and 156%, respectively, since the start of 2022.
Sage Potash Corp. (TSX-V: SAGE) just announced breaking news regarding the, “formation of a U.S. subsidiary, Sage Lithium Corp. (“Sage Lithium”). Due to multi-commodity brines with high Li-K-Br analyses reported from historic oil and gas wells in the area, the Company is encouraged to explore additional potential revenue sources known to occur within the Paradox Basin. The primary objective of Sage Lithium will be to conduct testing for lithium and other soluble saline minerals within the existing brine hosting strata covered by Sage Potash’s private mineral lease portfolio. Sage Lithium will be operating in conjunction with its parent company, Sage Potash, which is in the process of applying for Class V Authorization by rule to drill two exploration wells that are planned to function as an initial pilot production well and a brine disposal well. Concurrently, Sage Lithium will sample, test, and analyse strata that are amenable to brine extraction for lithium, bromine and other soluble saline minerals.
This strategic decision is grounded in the Company’s assessment of historical records derived from oil, gas and potash wells drilled in the Paradox Formation. The Company believes these records indicate a strong possibility of intersecting super-saturated brines (composed of up to 40% minerals and 60% water) containing a diverse range of valuable minerals, including lithium, bromine and potassium, in the Paradox Formation. Sage Potash holds private mineral leases located in the Paradox Basin that grant the Company exclusive rights to extract potash, lithium, and other saline minerals and resources.
Sage Lithium will operate as a standalone subsidiary exploring the mineral leases for lithium and other soluble saline minerals on 17,277 acres of private mineral and surface leases owned by its parent company, Sage Potash.
The Paradox Formation is host to brine-bearing strata that has been the focus of numerous lithium exploration companies, including Anson Resources (OTC: ANSNF) which has reported on its plans to develop its 530 MT indicated resource grading 123 ppm Li and 3,474 ppm Br, in the northern part of the Paradox Basin.
The Company believes that historic oil and gas wells throughout the Paradox Basin were seldom analysed for lithium, bromine, potassium, and boron, though the few that were sampled returned concentrations ranging from 66ppm to 1,700ppm lithium, 18,800 ppm to 47,000 ppm potassium, and 1,150 ppm to 6,100 ppm bromine.
Sage Potash CEO, Peter Hogendoorn, commented, “When we included ‘saline mineral rights’ in our initial private mineral leases, we didn’t realize at the time how much lithium interest would develop in the Paradox Basin/Lisbon Valley. Using SQM (Sociedad Quimica y Minera de Chile S.A.) as a model, which can be considered either the world’s lowest cost lithium producer or potash producer, management believes there is a significant opportunity to leverage both the geology and its lease rights to add considerable shareholder value for multiple complementary mineral development streams, or as an eventual company spin-off.”…
Qualified Persons: Patricio Varas, P.Geo., a Qualified Person as defined by NI 43-101, has read and approved all technical and scientific information related to the historical brine data contained in this news release. Mr. Varas is the Chief Operating Officer and Vice President Exploration for Sage Potash. Mr. Varas has reviewed the data disclosed in this press release but has not verified historic assay information.”
American Lithium Corp. (NASDAQ: AMLI) announced recently that it has completed its strategic investment (the “Investment”) in Surge Battery Metals Inc. (“Surge”). The Investment of C$5,360,000 represents the full commitment from American Lithium and is the cornerstone investment in the recently announced Surge private placement. American Lithium now holds approximately 9.7% of the total issued and outstanding shares of Surge. In connection with the Investment, American Lithium has been issued 13,400,000 units (each, a “Unit”) of Surge at a price of $0.40 per Unit with each Unit being comprised of one common share and one share purchase warrant (each, a “Warrant”). Each Warrant is exercisable for a period of three years from the date of issuance at a price of $0.55 per share. The securities comprising the Units and any shares underlying the Warrants may not be sold until October 10, 2023 (being four months and a day from their issuance).
Standard Lithium Ltd. (NYSE: SLI) reported back in May that, as part of the resource definition work at its South West Arkansas Project (see news release dated 20th March 2023) it has sampled, to the best of its knowledge, the highest confirmed lithium grade brine in Arkansas, with a grade of 581 mg/L. These sampling data follow similar high-grade results from the Company’s resources in Texas (see news release dated 28th March 2023). Dr. Andy Robinson, President and COO of Standard Lithium commented, “We continue to be very pleasantly surprised by the lithium grades sampled from our projects in Arkansas and Texas. We previously developed the Preliminary Economic Assessment (PEA) for the SWA Project using a conservative assessment of the lithium brine grades across the project area. Using that conservative resource basis still yielded a PEA with very attractive project economics (after-tax NPV US$1.97 Billion and IRR of 32% at 8% discount rate; see news release dated 12th October 2021). This recent infill drilling work to further define the lithium resource has resulted in a marked upside to the in-situ lithium grade. In our experience, the grade of lithium in brine used for Direct Lithium Extraction (DLE) has a meaningful impact on both capital expenditures and operating costs in connection with the extraction process, so a higher grade typically results in lower overall costs and should have a positive effect on project economics in the forthcoming Preliminary Feasibility Study (PFS). We are delighted that sampling from this recent well has led us to find lithium brine with the highest confirmed grade in Arkansas, and we look forward to incorporating these into the forthcoming PFS.”
Sigma Lithium Corporation (NASDAQ: SGML) announced last year the positive economic results of its study (“Production Expansion Study”) for a potential integrated production increase of Battery Grade Sustainable Lithium Concentrate from 270,000 tpa (36,700 tpa LCE) commencing in 2023 to 768,000 tpa (104,200 tpa LCE) in the second year at the Company’s 100% owned Grota do Cirilo Project (the “Project”), currently in construction in Minas Gerais, Brazil. The Production Expansion Study demonstrated robust Project economics, highlighted by an after-tax NPV8% of US$15.3 billion, incorporating production from Phase 1 (nearing commissioning initiation) combined with Phase 2 and Phase 3.
FREYR Battery (NYSE: FREY) engages in the production and sale of battery cells for energy storage system, electric mobility, marine, and aviation applications in Europe and internationally. The company designs and manufactures lithium-ion based battery cell facilities. Back in March, the Company announced that it has entered into discussions on a potential strategic coalition with Glencore Plc (LN: GLEN), Caterpillar Inc. (NYSE: CAT), Siemens AG (GY: SIE), and Nidec Corporation (TSE: 6594) to pursue the scale up of sustainable battery solutions across Europe, North America, and beyond.
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Fintech PR
WSPN Partners with Viction and Ninety Eight Ecosystem to Boost WUSD Adoption and Expand Market Reach
SINGAPORE, Nov. 5, 2024 /PRNewswire/ — Worldwide Stablecoin Payment Network (WSPN) is excited to announce a strategic partnership with Viction, a global Layer-1 blockchain that empowers builders at every level through accessible and scalable infrastructure, along with holistic guidance. In collaboration with the Ninety Eight (formerly known as Coin98) ecosystem, this partnership aims to expand WUSD’s reach, strengthening its role as a stable and accessible digital asset across the evolving Web3 landscape. Together, WSPN, Viction, and Ninety Eight will enhance interoperability, boost liquidity, and drive local market adoption, with a strong focus on growth in emerging markets.
Expanding WUSD as a Native Stablecoin on Viction
WSPN will deploy WUSD natively on Viction, supporting integration across Web3 applications and enhancing liquidity for users and developers. With WUSD as a core asset, Viction’s ecosystem will foster secure, stable transactions, empowering dApps, protocols, and platforms with increased interoperability and cross-chain functionality.
Market Expansion, CEX Listings, and Joint Community Outreach
To expand WUSD’s presence in Vietnam, Viction will tap into its resources alongside the Ninety Eight ecosystem to drive local adoption through strategic partnerships and collaborative community outreach. Listing WUSD on major centralized exchanges will increase accessibility, reaching a broader audience. This joint effort benefits both WSPN and Viction, with WUSD enhancing visibility for Viction’s technology and ecosystem, while Viction’s strong local network and Ninety Eight’s established connections boost WUSD’s growth. Through initiatives like webinars, ambassador programs, and developer workshops, the partnership will engage the community and build a lasting foundation, fostering an understanding of both WUSD’s value and Viction’s strengths.
Collaborative Responsibilities and Support
WSPN will oversee WUSD’s deployment on Viction and foster collaborations within its ecosystem, while Ninety Eight and Viction will support liquidity management, integrating WUSD into the Coin98 Super Wallet and strengthening infrastructure to ensure effective interoperability. Marketing initiatives led by WSPN and Viction will drive awareness and engagement for both ecosystems, reaching institutional audiences and building lasting adoption across the region.
Together, WSPN, Viction, and Ninety Eight are setting a new standard for collaboration in the Web3 space: Uniting technology, community, and accessibility to create a robust ecosystem. By empowering local markets and driving sustainable growth, this partnership is paving the way for a more inclusive, innovative blockchain future. The journey is only beginning, and the potential is limitless.
About WSPN
WSPN is a leading provider of next-generation stablecoin infrastructure, committed to building a more secure, efficient, and transparent payment solution for the global economy. Their flagship product, WUSD stablecoin, is pegged 1:1 to the U.S. Dollar and aims to optimize secure digital payments for Web3 users. WSPN ‘s Stablecoin 2.0 approach prioritizes user-centricity, community governance, and accessibility, paving the way for widespread stablecoin adoption.
Learn more: www.wspn.io | X | LinkedIn
About Viction
Viction is a global layer-1 blockchain that empowers builders at every level, provides both the foundation and enhancements necessary for projects to achieve stability and soar to their higher selves.
Viction provides seamless interoperability, scalability, flexible development, zero gas fees, enhanced security, and speed to enable builders with tech capabilities.
Beyond technical advantages, Viction offers holistic guidance through consultation, resources, funding, and strong network connections to foster project growth.
About Ninety Eight
Ninety Eight is an ecosystem of innovation companies with a shared mission to enable and empower human potential. They found and fund blockchain companies that make Web3 accessible for everyone.
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Fintech PR
The Adecco Group: Q3 2024 RESULTS
Robust performance in challenging markets; volumes stabilising
ZURICH, Nov. 5, 2024 /PRNewswire/ —
- Revenues -5% yoy organic TDA, -3% yoy organic, a solid result given market conditions, high comparison base; volumes stabilising
- By GBU, Adecco -5%, with good results across Asia, Iberia, EEMENA, LatAm outweighed by challenging markets, particularly in France, US; Akkodis -5%, with Consulting +2%; LHH -7%, with Recruitment Solutions stable qoq
- Resilient 19.4% gross margin, sequentially flat, reflecting lower volumes, current business mix, firm pricing
- SG&A expenses improved to €925 million, -5% yoy, with G&A -10% yoy and at 3.2% of revenues
- Robust 3.3% EBITA margin, reflecting strong G&A savings, selective protection of sales and delivery capacity
- Operating income €162 million; Net income €99 million; Basic EPS €0.59; Adjusted EPS €0.68
- Operating cash flow +€121 million, weighed by timing differences; Free cash flow +€117 million YTD, higher yoy
- Continued delivery of Simplify-Execute-Grow agenda:
- G&A savings run-rate end-24 lifted to €171 million
- Reprioritised IT/digital plan: accelerating AI adoption, expanding Global Delivery to improve fill rates, time-to-fill
- Strong track record of market share gains; relative revenue growth, reported, +850 bps since introduction of Simplify-Execute-Grow (Q3 22), and +290 bps YTD
Denis Machuel, Adecco Group CEO, commented:
“We continue to successfully deliver on our Simplify, Execute, Grow plan and third quarter performance was robust, against a high comparison base. The macroeconomic environment remains challenging, but I am encouraged to see that volume trends have stabilised.
We made further G&A savings in the quarter, allowing us to lift the year-end run-rate. We have reprioritised our IT/digital plans to accelerate AI adoption, and to expand Global Delivery to our top 25 customers. This will boost recruiter productivity and improve fill rates and time-to-fill, supporting profitable growth. We remain focused on capturing market share, building on strong progress over the last two years, and have positioned resources to capture growth opportunities as the market recovers.”
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Fintech PR
DAMAC International Expands Presence in APAC with New Office in Hong Kong
Strategic launch to cater to the growing demand for luxury real estate across Asia-Pacific
HONG KONG, Nov. 5, 2024 /PRNewswire/ — DAMAC International, a global leader in luxury real estate, has officially opened its new office in Hong Kong, marking its third office in the Asia-Pacific (APAC) region. This expansion is part of DAMAC’s broader vision to strengthen its presence in one of the world’s fastest-growing regions, renowned for its rapid investment growth. The Hong Kong office is a strategic gateway to the APAC market. It allows DAMAC to better serve its expanding clientele by offering direct access to its prestigious properties in Dubai and other international locations, such as London and Miami.
The Hong Kong office will provide investors across the region access to personalised services, offering exclusive insights into DAMAC’s luxury residential towers, branded residences, and lifestyle communities. As demand from the APAC region continues to rise, DAMAC is poised to offer high-end real estate investment opportunities that cater to the needs of discerning clients.
Talking about the opening, Abbas Sajwani, Board Member, DAMAC International, stated: “This is yet another milestone in our expansion into the APAC region. The new office will allow us to be closer to our clientele. It is a testament to our belief in the region’s potential and commitment to providing top-tier investment opportunities in luxury development.”
By establishing this new office, DAMAC continues positioning itself as a leading player in the global real estate market. It further strengthens its ability to connect with clients to provide unparalleled luxury investment opportunities for long-term value.
About DAMAC International
DAMAC International has been at the forefront of the Middle East’s luxury real estate market since 2002, delivering award-winning residential, commercial and leisure properties across the region and internationally, including in the UAE, Saudi Arabia, Qatar, Jordan, Lebanon, Iraq, the Maldives, Canada, the United States, as well as the United Kingdom.
Since then, the company has delivered more than 47,000 homes with over 40,000 more in diverse planning and development phases. Joining forces with some of the world’s most eminent fashion and lifestyle brands to create tremendous living experiences, such as with Versace, Roberto Cavalli, or de GRISOGONO. With a consistent vision and momentum, DAMAC is building the next generation of luxury living across the globe.
Live the Luxury.
Visit us at www.damacgroup.com
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