Spey Resources Corp. is a Canadian exploration company addressing the lithium demand issue.
The results are impressive.
As part of the Build Back Better initiative and the Bipartisan Infrastructure Deal, President Biden has taken some pretty major steps toward cleaner energy.
Part of this included an executive order in which President Biden announced* his intent to have at least 50 percent of all vehicles sold running on electric power by 2030.
In the world-famous “Lithium Triangle,” within Argentina’s mining province of Saltar, Spey Resources completed exploration activities and hit multiple lithium brine aquifers at its 80% owned Incahuasi Salar claim. Spey is now reporting a 5 hole production drilling program.
Prior to joining Spey Resources, SPEY’s CEO Phil Thomas explored and produced a resource estimate for the Pozuelos Salar, also located in the mining province of Saltar, Argentina, which was sold to Ganfeng Lithium Group for USD $962 Million.
Ganfeng Lithium is the world’s #4 largest lithium company and currently holds the claim adjacent to SPEY’s claim in the Incahuasi Salar.
After bottoming out in March 2021, $SPEYF ran 570 percent to a high of $0.67 in just around 90 days. Since August 2021, the stock has mostly hovered around $0.22, which could point to this being an ideal time to buy.
Financially, Spey is incredibly healthy: In a span of only 9 months, Spey Resources increased their total assets by an impressive 18 percent.
November 30, 2021
November 30, 2022
In April 2021, Spey Resources Corp. entered into a Share Purchase Agreement with the shareholders of Tech One Lithium Resources Corp. Per the agreement, Spey purchased all of Tech One’s issued and outstanding shares.
Tech One has the option to acquire 100% of the mineral concessions of the Candella I project located within the prolific Lithium Triangle in the Salta Province of Argentina. Candella I covers 300 hectares, is represented by the mineral claim number 23262 situated in the Incahuasi Salar, and is road accessible.
In October 2022, Phil Thomas took the helm as CEO of Spey Resources Inc., having 25 years of experience in Argentina. His last 2 projects were both acquisitions.
“Rio Tinto has completed the acquisition of the Rincon lithium project in Argentina for $825 million”. Mr. Thomas and his team explored and built this plant.
As CEO of Lithea Inc., Mr. Thomas explored and produced a resource estimate for the Pozuelos Salar that was sold to Ganfeng this year for $962 million
Spey Resources owns claims in the James Bay Region of Quebec, Canada right beside Patriot Battery Metals (TSX.V: PMET), who announced a significant discovery & the company’s best drill intercept to date in August of 2022 of 159.7 meters at 1.65% Li20.
Spey’s Quebec projects vary in distance from Patriot Battery Metals, one within approximately 1 kilometer of a Patriot border.
Next-Gen Extraction Excellence
Spey Resources is committed to the process of timely, competitive cost, environmentally sensitive extraction practices. Utilizing Ekosolve™ Technology, this revolutionary process based on well known solvent exchange principles reduces capital and operations costs and accelerates project start up, avoiding 12-18 months of pond construction and evaporation.
With high recoveries of lithium from brines, this process produces battery grade lithium carbonate. Ekosolve™ circumvents problems of brine contaminants being expensive and difficult to remove, particularly magnesium. Ekosolve™ involves four simple stages over three hours to produce lithium chloride which when sodium carbonate is added produces battery grade lithium carbonate.
The global consumer electronics market is expected to hit USD $989.37 Billion by 2027 (Fortune Business Insights)
At $287.36 Billion in 2021, the global electric vehicle (EV) market is projected to grow to USD $1.318 trillion in 2028 at a CAGR of 24.3%
Nader has spent the last nine years in finance, starting with Edward Jones in 2012. Currently, he serves as CEO of Musk Metals Corp, CEO of Forty Pillars Mining Corp., and CFO of Triangle Industries Ltd.
David is a senior executive with 25 years of diversified experience in the mineral exploration, mining, and finance industries. Before entering the mining industry, David worked in the Canadian dollar bond market as Managing Director of the Canadian business at Exco Shorcan in London, England.
Kelvin has over 15 years of experience in senior financial positions with several listed issuers focused on the mining industry. He’s a CPA, CGA, and holds a Diploma in Accounting and a Bachelor in Business Administration from the British Columbia Institute of Technology.
Ian is a mining professional with over 28 years of experience in the technical characterization and financing of mineral deposit exploration and development. He has experience modeling project economics (DCF) and the structuring of project and company financing.
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