Lithium X: All-Star Insiders
04/24/2017 2:50 am EST
Future demand for lithium is set to soar, just on the basis of Elan Musk’s goal of producing 500,000 cars per year at Tesla (TSLA) in the next few years.
Meanwhile, traditional demand for ever more powerful and longer lasting cell phone batteries is only increasing as well. So this is why the price of lithium is soaring and should continue to soar as electric vehicle makers search for supply and producers struggle to meet demand.
Lithium-X (LIXXF) is not yet in production, but its pilot facility in northern Argentina has now been approved so it’s getting there. And a smaller test facility meanwhile has just about evaporated to the desired 5% level at which point it can be sent to lithium processing companies for testing.
Also the company is reportedly wrapping up a report on drilling up in Nevada on its 15,000 acres adjacent to Abermarle’s Silver Peak lithium mine which has been cranking out lithium for 40 years.
It has been pretty tight-lipped about that so far, but we should hear something in the next few months. If that is good news, away we go. I believe the shares are a great way to play this trend and remain a Buy.
Also worthy of note is that the CEO of Lithium-X purchased an additional 80,000 shares on the open market at around $1.25US. Indeed an all-star list of insiders have a big stake in Lithium-X, owning 21% of the shares. The shares remain a Buy.