Monday, May 15, 2023
Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Carbon neutral lithium production. In April, LithiumBank signed a memorandum of understanding with ZS2 Technologies Inc. for the eventual deployment of ZS2’s proprietary and patented direct-air-capture technology to capture carbon dioxide emissions from LithiumBank’s Boardwalk and Park Place projects. ZS2 will also process treated brine to collect magnesium and calcium for use in their proprietary magnesium cement products. The ZS2 processing facility will generate acid and base byproducts that can cost effectively be used in LithiumBank’s lithium processing plant at Boardwalk. The collaboration with ZS2 supports LithiumBank’s goal of becoming a carbon neutral lithium producer in Alberta.
Flow-through private placement. In April, LithiumBank announced a C$6 million “bought deal” private placement of 3,158,000 units issued on a charity flow-through (FT) basis at a price of C$1.90 per FT unit for gross proceeds of C$6,000,200. Each FT unit is comprised of one common share to be issued as a flow-through share and three quarters of one common share purchase warrant. Each FT warrant will entitle the holder to purchase one non-flow-through common share at an exercise price of C$2.00 for a period of 36 months from the date of issuance. The proceeds will fund eligible exploration expenditures.
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