Full Speed Ahead For E3’s Alberta Lithium Project

Earlier this week I had the opportunity to check in with E3 Metals CEO Chris Doornbos. I was pleasantly surprised to hear that it is still “full speed ahead” for E3 (TSX-V:ETMC, OTC: EEMMF) despite the COVID-19 global crisis. Labs are still operating in Ontario and North Carolina and E3 is busy completing important work, driving towards the goal of demonstrating, at pilot plant, the company’s property lithium extraction process. As the project is being developed in south-central Alberta, an industry heavy area, this is the last hurdle prior to starting the commercialization process.

One thing has changed and that is E3 is being more financially disciplined, reducing the cash burn rate to C$40,000 per month. With approximately C$2 million currently in the company treasury this means that E3 will not have to tap markets for financing anytime soon.

Doornbos added that every few days he receives a call from an oil company poking around to find out about E3’s Alberta lithium project. The company also recently completed its DTC eligibility allowing simplified trading in the US. He also added the following comments in a recent NR:

“E3 continues to advance development of our lithium project for the growing electrification revolution. This project is designed and will be built by the experts in Alberta on the backbone of the oil and gas industry. We have a 100% owned, globally significant lithium resource base and we are working in partnership with one of the leading global experts in lithium production and product quality. We are developing a company-owned extraction technology, designed for purity, that is leading the charge towards the future of lithium production across the globe.”

The goal for E3 continues to be achieving pilot testing in order to prove the effectiveness of its proprietary Ion Exchange Direct Lithium Extraction Process (DLE Process) – E3 has been working in partnership with Livent Corporation under a Joint Development Agreement which means that Livent is paying for the cost of lab work and other costs until a positive commercial production decision is made.

A reminder of the big picture here for E3 Metals, E3 has the 7th largest lithium resource globally and Alberta is a stable and favorable mining jurisdiction:

Management and directors own approximately 20% of the company’s 33,500,000 fully-diluted share count and at the recent C$.32 share price E3 has a roughly C$10 million market cap.

ETMC.V (Daily)

I continue to hold ETMC.V shares and I see attractive value at current share price levels, continued progress and a green light for pilot production testing should lead to a substantial upward revaluation in E3 shares.

 

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The article is for informational purposes only and is neither a solicitation for the purchase of securities nor an offer of securities. Readers of the article are expressly cautioned to seek the advice of a registered investment advisor and other professional advisors, as applicable, regarding the appropriateness of investing in any securities or any investment strategies, including those discussed above. E3 Metals Corp. is a high-risk venture stock and not suitable for most investors. Consult E3 Metals Corp’s SEDAR profile for important risk disclosures. EnergyandGold has been compensated for marketing & promotional services by E3 Metals Corp. so some of EnergyandGold.com’s coverage could be biased. EnergyandGold.com, EnergyandGold Publishing LTD, its writers and principals are not registered investment advisors and advice you to do your own due diligence with a licensed investment advisor prior to making any investment decisions.

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