Tag: Lithium

First Phosphate Corp. (FRSPF) – Right Time, Right Place, Right Project

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Monday, May 11, 2026

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.

Building an integrated North American phosphate supply platform. First Phosphate is focused on extracting and purifying high-purity igneous phosphate for the lithium iron phosphate (LFP) battery industry. The company is advancing a vertically integrated platform in the Saguenay–Lac-Saint-Jean region of Quebec, targeting the eventual downstream production of purified phosphoric acid and cathode active material (CAM) used in LFP batteries. The company’s flagship Bégin-Lamarche Project is a high-purity igneous phosphate deposit that hosts a pit-constrained indicated mineral resource of 41.5 million tonnes grading 6.49% phosphorus pentoxide and a pit-constrained inferred mineral resource of 214.0 million tonnes grading 6.01%.

Growing Demand for LFP Batteries. The LFP battery market is expanding rapidly due to growing demand from electric vehicles, energy storage, artificial intelligence data centers, and industrial applications. Phosphate accounts for approximately 60% of LFP battery chemistry, while lithium accounts for only 4%. Because only about 5% of global phosphate deposits are igneous in nature, these high-purity deposits are valuable strategic assets for North American battery production.


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Century Lithium Corp. (CYDVF) – Significant Steps Forward

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Friday, May 08, 2026

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.

Permitting Progress. Century Lithium announced significant progress in the federal permitting process for its wholly owned Angel Island Lithium Project in Nevada. The company submitted a Draft Mine Plan of Operations to the U.S. Bureau of Land Management and executed a Memorandum of Understanding with the agency to coordinate responsibilities during the National Environmental Policy Act review process. The submission marks an important milestone that advances the project toward a formal environmental analysis and broader regulatory review.

Next Steps. Century expects to receive initial feedback from the Bureau of Land Management within the next month as it works toward completion of the final Mine Plan of Operations. Angel Island has also been designated as a Transparency Project under the federal FAST 41 program, which supports streamlined permitting oversight. Alongside federal permitting efforts, Century Lithium continues to advance state and local permitting, engineering, infrastructure planning, and research initiatives aimed at improving project economics and attracting potential funding opportunities.


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First Phosphate Corp. (FRSPF) – Warrant Exercise Strengthens Treasury Position

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Tuesday, May 05, 2026

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.

Warrant exercise enhances capital structure and financial flexibility. First Phosphate Corp. announced the receipt of approximately C$3.07 million following the full exercise of its remaining warrants at C$1.25 per share, marking the exercise of all outstanding external dilutive instruments. This final round of warrant exercises represents a vote of confidence from shareholders and establishes a valuation benchmark for the company. As a result, the company’s capital structure is now notably streamlined, with no remaining dilutive securities other than those held by staff, management, and board members.

Strong balance sheet and funding provide a clear development runway. The company is in a strong financial position with no debt and benefits from a significant C$16.7 million non-repayable and non-dilutive contribution from the Government of Canada. Combined with funds raised since June 2022 totaling approximately C$62.5 million, First Phosphate has built a solid treasury exceeding C$20 million, placing it among a limited group of junior companies with comparable financial strength. This capital position provides a funding runway to advance development activities through to a final investment decision expected within approximately one and a half years.


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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

First Phosphate Corp. (FRSPF) – Strong Drill Results Reinforce Scale and Expansion Potential

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Tuesday, April 28, 2026

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.

Strong mineral continuity and expansion potential. First Phosphate Corp. reported strong results from its 2025/2026 infill drill program at the Begin–Lamarche property, confirming continuous phosphate mineralization across all zones and identifying two new intersections. The results will support an updated geological model expected next month and underscore the potential for resource expansion.

Geological consistency across zones. Drilling confirmed consistent geology across the Mountain, Northern, and Southern zones. High-grade apatite mineralization and similar structural features across zones reinforce confidence in a cohesive and predictable deposit.


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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Century Lithium Corp. (CYDVF) – Updated Feasibility Study Highlights Incremental Value

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Wednesday, March 18, 2026

Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Hans Baldau, Associate Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Updated feasibility study. Century recently filed its updated 2026 NI 43-101 feasibility study for its 100%-owned Angel Island Lithium Project in Nevada. The updated study reflects engineering optimization and improvements that materially strengthen the project’s economic profile and highlight Angel Island as one of the most significant and economically robust sedimentary lithium developments in the United States.

Lower initial capital expenditures. Phase I initial capital expenditures are estimated to be $997 million, a significant reduction from the $1.5 billion outlined in the 2024 Study. The updated study streamlines development into a two-phase approach. Phase I contemplates 7,500 tonnes per day (tpd) of mill feed, expanding to 15,000 tpd in Phase II beginning in Year 5. Phase II expansion capital is estimated at $660 million. A previously planned third expansion phase was eliminated, lowering overall capital requirements. The economic analysis is based on a 40-year production schedule, with planned life-of-mine average production of 26,500 tonnes per annum of battery-grade lithium carbonate.


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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Century Lithium Corp. (CYDVF) – Updated Angel Island Feasibility Study Highlights

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Tuesday, February 24, 2026

Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Hans Baldau, Associate Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Updated feasibility study. Century released the results of its 2026 NI 43-101 feasibility study for the 100%-owned Angel Island Lithium Project in Esmeralda County, Nevada. The updated study reflects engineering optimization and improvements that materially strengthen the project’s economic profile and highlight Angel Island as one of the most significant and economically robust sedimentary lithium developments in the United States. 

Lower initial capital expenditures. Phase I initial capital expenditures are estimated to be $997 million, a significant reduction from the $1.5 billion outlined in the 2024 Study. The updated study streamlines development into a two-phase approach. Phase I contemplates 7,500 tonnes per day (tpd) of mill feed, expanding to 15,000 tpd in Phase II beginning in Year 5. Phase II expansion capital is estimated at $660 million. A previously planned third expansion phase has been eliminated, lowering overall capital requirements. The economic analysis is based on a 40-year production schedule, with planned life-of-mine average production of 26,500 tonnes per annum of battery-grade lithium carbonate. 


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This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Century Lithium Corp. (CYDVF) – A New Dimension to Angel Island

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Friday, December 05, 2025

Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Hans Baldau, Associate Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Recovery of rare earth elements (REE). Century recovered rare earth elements from leach solutions generated from its Angel Island Lithium Project. Initial testing indicated that high rare earth element recoveries may be achieved without impacting lithium recovery. Producing a secondary REE-rich product from the leach solution offers the potential to enhance Angel Island’s project economics, while fulfilling broader government and industry objectives of promoting a North American critical mineral supply chain to reduce dependence on China.

The process works. Leach solutions produced from Angel Island claystone contain dysprosium, gadolinium, neodymium, and praseodymium, along with higher concentrations of scandium, lanthanum, and cerium. Ion-exchange achieved greater than 97% recovery of the identified REEs and critical metals, without affecting the company’s core lithium recovery process and production of high-purity lithium carbonate.


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Century Lithium Achieves High Recovery Of Rare Earth And Critical Elements From Primary Leach Solutions

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December 2, 2025 – Vancouver, Canada – Century Lithium Corp. (TSXV: LCE) (OTCQX: CYDVF) (Frankfurt: C1Z) (“Century Lithium” or “the Company”) is pleased to report positive results from its ongoing test work on the recovery of rare earth elements (“REEs”) from primary lithium leach solutions generated from its 100%-owned Angel Island lithium project in Nevada, USA. The initial testing indicates that high REE recoveries can be achieved without impacting lithium recovery in Century Lithium’s extraction process.

“The REE recovery results validate our belief that Century Lithium’s leach solutions offer meaningful secondary-value opportunities,” said Todd Fayram, Century Lithium’s Senior Vice President, Metallurgy. “Producing a secondary REE-rich product has the potential to strengthen Angel Island’s economics and align the Company with broader government and industry initiatives supporting secure North American critical-minerals supply chains.”

Century Lithium previously confirmed that the leach solutions produced from Angel Island claystone contain notable concentrations of REEs, including dysprosium, gadolinium, neodymium, and praseodymium, as well as higher concentrations of the critical metals scandium, lanthanum, and cerium. Cesium is also present.

Ion-exchange test work achieved greater than 97% recovery of the identified REEs and critical metals, excluding cesium, while maintaining complete selectivity against lithium. This selectivity is essential for downstream lithium recovery through the Company’s process flowsheet, which includes ultrafiltration, direct lithium extraction (“DLE”) and subsequent steps to produce high-purity lithium carbonate.

The Company’s metallurgical program at Angel Island continues to focus on the following: Optimizing ion-exchange performance and selectivity Advancing downstream processing flowsheets for REE concentration and refinement Evaluating market pathways for a commercial REE by-product Assessing the economic contribution of REEs to primary lithium production These results represent a significant technical milestone, demonstrating that REE extraction and recovery can be implemented without affecting the Company’s core lithium recovery process. Century Lithium believes these advancements position the Company to potentially supply both lithium and REEs to North American critical minerals markets, supporting supply-chain resilience and enhancing long-term project value for Angel Island

Century Lithium Corp. (CYDVF) – Angel Island’s Commercial Appeal Grows with Lithium Hydroxide Production

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Tuesday, October 21, 2025

Mark Reichman, Managing Director, Equity Research Analyst, Natural Resources, Noble Capital Markets, Inc.

Hans Baldau, Associate Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Century produces high-purity lithium hydroxide. Century Lithium produced its first samples of lithium hydroxide from lithium carbonate derived from Angel Island’s lithium claystone deposit and treated at its demonstration plant using the company’s patent-pending alkaline leach and direct lithium extraction (DLE) process. Century had previously focused on making lithium carbonate. By producing high-purity lithium hydroxide, Century has demonstrated an ability to produce another major lithium product for the domestic market.

Pursuing a direct lithium conversion process. Lithium hydroxide samples were produced onsite in a batch process using conventional liming conversion with calcium hydroxide to produce lithium hydroxide with a purity level of 99.5% or greater. Century is pursuing a direct lithium conversion (DLC) process to produce lithium hydroxide directly from lithium chloride solution, which would bypass producing lithium carbonate in an intermediate stage to simplify the process and reduce energy consumption and operating costs.


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Lithium Americas Stock Nearly Doubles as U.S. Government Weighs Stake in Thacker Pass Mine

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Shares of Lithium Americas (NYSE: LAC) soared nearly 100% on Wednesday after reports that the Trump administration is considering taking a stake in the company as part of a renegotiated federal loan package tied to the development of the Thacker Pass lithium mine in Nevada.

According to Reuters, the administration is seeking as much as a 10% equity stake in the Vancouver-based miner. The proposed arrangement comes as Lithium Americas works through terms of a $2.26 billion loan from the Department of Energy, originally granted during the first Trump administration.

Under the current negotiations, the company has offered the government no-cost warrants for up to 10% of its common stock. At the same time, the administration is reportedly pressing General Motors (NYSE: GM) — which owns a 38% stake in Thacker Pass and has invested $625 million — for purchase guarantees that would help shore up demand for the lithium produced at the site. GM shares ticked higher by more than 2% on the news.

A Strategic Lithium Project

Thacker Pass is expected to play a central role in U.S. energy security. Once operational, the project is projected to be the largest lithium mining operation in the Western Hemisphere. Its first production phase, slated for 2028, is forecast to produce more than 40,000 metric tons of lithium carbonate annually — enough to power batteries for roughly 800,000 electric vehicles.

For perspective, Albemarle’s (NYSE: ALB) Silver Peak mine in Nevada, currently the only operating lithium mine in the U.S., produces fewer than 5,000 metric tons per year. This makes Thacker Pass a significant leap in domestic production capacity at a time when global demand for electric vehicles, battery storage, and clean energy technologies is surging.

China currently dominates the global lithium industry, producing more than 40,000 metric tons per year and refining more than 65% of the world’s supply. By comparison, the U.S. refines less than 3%. This imbalance has made lithium one of the most strategically sensitive commodities in the energy transition.

“Lithium is the new oil,” said one energy analyst, noting that securing supply has become a cornerstone of U.S. industrial policy. “Without it, you can’t scale EV adoption or battery storage, and that makes projects like Thacker Pass crucial to long-term energy independence.”

The government’s interest in Lithium Americas follows similar moves to shore up domestic supply chains for other critical materials. In July, MP Materials (NYSE: MP) announced a multibillion-dollar deal with the Department of Defense that made the government its largest shareholder, boosting MP’s stock more than 50%. Meanwhile, Intel (NASDAQ: INTC) has climbed over 25% since talks of a potential government stake in the chipmaker became public.

This pattern underscores the administration’s strategy of leveraging federal investment to reduce reliance on foreign sources of essential resources, from rare earth elements to semiconductors.

Lithium Americas stock traded at $6.09 as of 2:08 p.m. EDT, up more than 98% on the day. The sharp rally comes despite ongoing weakness in lithium prices, which have fallen over the past year amid oversupply from China. Futures for lithium carbonate are down more than 12%, while lithium hydroxide has dropped more than 4.5%.

Those price pressures have raised concerns about the financial viability of large-scale U.S. mining projects. The administration’s involvement could provide a stabilizing force, ensuring that key projects like Thacker Pass remain on track. The first loan draw is expected this month, with construction at the Nevada site already underway.

For now, investors appear to be betting that federal backing — and a potential government equity stake — could cement Lithium Americas’ role as a cornerstone of America’s clean energy future.

Take a moment and take a look at Noble Capital Markets’ Research Analyst Mark Reichman’s coverage list.

Century Lithium Corp. (CYDVF) – Recent Financing Provides Financial Flexibility to Advance Angel Island

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Wednesday, September 03, 2025

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.

LIFE offering closed. Century Lithium closed the second and final tranche of its financing under the Listed Issuer Financing Exemption (LIFE). Together with the initial closing, the company issued a total of 15,785,833 units for aggregate gross proceeds of C$4,735,749.90. Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase one common share at an exercise price of C$0.45 for a period of 60 months following the issuance of the units.

Use of net proceeds. Net proceeds from the financing will be used to complete an updated feasibility study for the company’s Angel Island Lithium Project, complete the project’s Plan of Operations, work towards National Environmental Policy Act (NEPA) compliance, and fund general working capital.


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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision. 

Lithium Market Disruption: CATL Mine Closure Triggers Global Stock Rally

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The global lithium market experienced significant turbulence on Monday as Contemporary Amperex Technology Co., Limited (CATL), the world’s dominant electric vehicle battery manufacturer, announced the temporary closure of one of China’s most critical lithium mining operations. The unexpected shutdown of the Jianxiawo mine sent shockwaves through commodity markets and triggered a dramatic rally in lithium-related stocks worldwide.

CATL’s decision to halt operations at the massive Yichun-based facility stems from an expired mining permit, forcing the company to seek license renewal from Chinese authorities. The three-month closure represents a substantial disruption to the global lithium supply chain, given that the Jianxiawo mine ranks among the world’s largest lithium extraction operations and sits at the heart of China’s primary lithium production hub.

The market’s immediate response was swift and decisive. Major lithium producers saw their stock values surge dramatically, with Albemarle Corporation and Sociedad Química y Minera posting gains exceeding 9% in early trading sessions. Smaller players in the sector experienced even more pronounced rallies, with Sigma Lithium climbing nearly 20% as investors positioned themselves for potential supply constraints.

The ripple effects extended beyond pure-play lithium companies. Tesla, one of CATL’s most significant customers and a bellwether for electric vehicle demand, saw its shares rise as markets interpreted potential lithium scarcity as validation of the metal’s strategic importance. The automotive giant’s reliance on CATL for battery supply underscores the interconnected nature of the modern EV ecosystem and highlights vulnerability points in the supply chain.

Spot lithium prices responded predictably to the news, jumping nearly 4% on Monday alone. This surge comes after lithium had already gained over 15% in the previous month, suggesting that markets were already tightening before CATL’s announcement. The price movement represents a significant reversal from the commodity’s recent performance, which had seen values plummet to 2021 lows as global production outpaced demand growth.

The mine closure occurs against the backdrop of China’s evolving regulatory approach to its critical materials sector. Beijing has increasingly focused on combating what it terms “involution” – destructive competitive practices that officials believe ultimately harm long-term industry development. This policy shift reflects growing recognition that cutthroat competition in strategic sectors can lead to market instability and undermine national economic objectives.

The timing of CATL’s permit expiration raises questions about coordination between major Chinese industrial players and government regulators. As geopolitical tensions surrounding critical materials intensify, China’s management of its lithium resources has become increasingly scrutinized by international observers and competitors.

For investors, the situation presents both opportunities and uncertainties. While the immediate supply shock has benefited lithium stock holders, the underlying fundamentals of oversupply that had previously pressured prices remain largely unchanged. Global lithium production capacity continues to expand, with new projects coming online across Australia, South America, and North America.

The three-month timeline for the mine’s closure, while significant, may not be sufficient to fundamentally alter global supply-demand dynamics. However, it does highlight the concentration risk inherent in lithium supply chains and the potential for regulatory actions to create market volatility.

Looking ahead, the resolution of CATL’s permit renewal will serve as an important indicator of China’s broader approach to critical materials regulation. The outcome could influence how other mining operations navigate the evolving regulatory landscape and may provide insights into Beijing’s strategic priorities for the lithium sector.

The current situation underscores lithium’s emergence as a truly strategic commodity in the global transition to electrification, where supply disruptions can trigger immediate and substantial market reactions across multiple industries and continents.

Take a moment to take a look at more emerging growth industrials and basic materials companies by taking a look at Noble Capital Markets’ Research Analyst Mark Reichman coverage list.

Century Lithium Corp. (CYDVF) – First Tranche of Financing Closed; Angel Island Added to the Federal Permitting Dashboard

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Wednesday, August 06, 2025

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.

First tranche of LIFE offering closed. Century Lithium recently closed the first tranche of its previously announced the Listed Issuer Financing Exemption (LIFE) offering of up to 16,666,667 units at a price of C$0.30 per unit for gross proceeds of up to C$5,000,000. Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder to purchase one common share at an exercise price of C$0.45 for a period of 60 months following the issuance of the units. In the first tranche, Century issued a total of 9,559,833 units for aggregate gross proceeds of C$2,867,950. Certain directors and officers of the company purchased a total of 168,333 units in the initial closing.

Use of net proceeds. Net proceeds from the financing will be used to complete an updated feasibility study for the company’s Angel Island Lithium Project, complete the project’s Plan of Operations, work towards National Environmental Policy Act (NEPA) compliance, and general working capital.


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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.