First Energy Metals Limited (OTC: ASKDF) Enters Option Agreement To Acquire Augustus Lithium Exploration Property In Quebec; Flurry Of Activity In Lithium Mining Market In Quebec As Demand Soars In Electric Cars, Computers And Electronics
First Energy Metals Limited (OTC: ASKDF) today (January 21, 2021) announces it has entered an option agreement to acquire Augustus lithium exploration property in Quebec amid a flurry of activity in the lithium mining market of Quebec as demand soars in electric cars, computers and electronics in a jumping market. ASKDF is a Canadian mineral exploration company. Just last week as part of the lithium flurry in Quebec, Piedmont Lithium Limited (NASDAQ: PLL) announced it was investing $12 million in a strategic investment to acquire 19.9% of Hard Rock Lithium Developer Sayona Mining Limited and 25% of Sayona Quebec as it positions itself to become a major producer of lithium hydroxide. Quebec is becoming a growing and important lithium hydroxide production center. Piedmont Lithium Limited (NASDAQ: PLL) is investing heavily in Quebec lithium mining.
stockmarketpress.com features specialized coverage of related stocks in the lithium metals mining industry such as First Energy Metals Limited (OTC: ASKDF), Piedmont Lithium Limited (NASDAQ: PLL), Lithium Americas (NYSE: LAC), Livent (NYSE: LTHM), Pilbara (OTC: PILPF), American Battery Metals (OTC: ABML), Tesla (NASDAQ: TSLA), Albemarle (NYSE: ALB), Sociedad Quimica y Minera (NYSE: SQM) and Power Metals (OTC: PWRMF).
First Energy Metals Limited (OTC: ASKDF) Enters Option Agreement To Acquire A Lithium Exploration Property In Quebec; Flurry Of Activity In Lithium Mining Market In Quebec As Demand Soars In Electric Cars, Computers And Electronics
The flurry of lithium mining activity in Quebec takes place as Allied Market Research sees the lithium ion battery market reaching $129.3 billion by 2027, growing at a CAGR of some 18% from 2020-2027. Lithium ion batteries are rechargeable with high-energy density and are used in portable equipment. They are critical for electric EV cars, electronics, smartphones, PC computers and commercial construction equipment, according to the Allied Market Research report. Their trendily is seen as even greater demand ahead. First Energy Metals Limited (OTC: ASKDF) Enters Option Agreement To Acquire A Lithium Exploration Property In Quebec; Flurry Of Activity In Lithium Mining Market In Quebec As Demand Soars In Electric Cars, Computers And Electronics.
First Energy Metals Limited (OTC: ASKTF) entered into the option agreement to acquire a lithium exploration property in Landrienne & Lacorme-Townships in Quebec. It consists of three non-contiguous claim groups located some 40 kilometers northwest of Val D’Or in Quebec. It says that the geology and mineralization of the site is similar to the Quebec Lithium mine, the Company said. There are also several mines nearby, including the Mine Quebec Lithium and Authier Lithium, owned by Sayona Mining of Australia, and others.
Details Of The Option Agreement
First Energy holds an option to acquire a 100% interest in the Augustus lithium property by making cash payments, common shares and issuances beginning with a $35,000 cash payment on the effective date of the option. Other payments will follow on specified anniversary dates in the future. In addition, common shares are to be issued on the execution of the option agreement and in the future. The optionee incurs expenditures on the property.
Quebec Emerges As Center Of Lithium Mining
Quebec is emerging as a center of lithium mining, given its abundant mineral resources. It is also located close to major U.S. and European electric vehicle markets. Quebec is also home to major mining concerns and to first class infrastructure. In this region, ASKDF said, there are more than 50 million tons of at 1% lithium oxide. Sayona’s core Piedmont Lithium Project is important in 2021 to the Company’s aggressive plans, it said. Sayona is an emerging lithium miner with existing projects in Quebec and Western Australia, it said. First Energy Metals Limited (OTC: ASKDF) Enters Option Agreement To Acquire A Lithium Exploration Property In Quebec; Flurry Of Activity In Lithium Mining Market In Quebec As Demand Soars In Electric Cars, Computers And Electronics.
Source: Stock Market Press
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