Los Angeles - The energy economy as we know it is changing rapidly. Even without the threat of global warming, the simple economics of solar panels or electric cars are leading to a rapid rate of adoption. One huge piece of that puzzle has been the lithium-ion battery. Efficient energy storage has the potential to fundamentally change the way our society works, from our energy grid to air travel.
This energy storage revolution is rippling across our economy in many ways, one of which is a distinct spike in the demand for lithium. Even as most commodities markets continue to slump hard, lithium prices continue to show steady growth. Lithium is going to be an essential piece of how transportation and energy function in the future, which has placed lithium exploration companies like Dajin Resources Corp. (DJI:CA) (DJIFF) in an enviable position.
Equities.com got another chance to talk with Dajin’s President and CEO Brian Findlay about how his company is well positioned to take full advantage of this lithium boom.
EQ: There’s been some extremely promising developments with your properties in the Jujuy province of Argentina. Why don’t you tell us what’s happened there recently?
Brian Findlay: Dr. Cathie Hickson visited the Dajin properties in Jujuy Province and met with National and Provincial representatives from their mining developments. In addition, we announced the optioning and signing of a key land positioning the Salinas Grandes salar that adjoins our other current holding. This newproperty is comprised of 10,873 acres and this is a land package put together by over 30 owners of local surface mines in the immediate area. This property is a crucial acquisition as it shows the local miners are embracing the deep exploration of this salar. We fully expect their support, in achieving an exploration permit.
EQ: You’ve also got some well-placed properties in Nevada at Teels Marsh and Alkali Lake. What can you tell us with regards to the progress in sampling at those two locations?
Brian Findlay: Our Teels Marsh property is moving along with the permitting process and application for water rights. We have also completed a “deep” sampling program where we have been soil and fluid testing to a maximum depth of 200 feet per hole. Meanwhile, our drill permitting and water rights applications are proceeding well. A gravity survey in the spring of 2015 confirmed an 8,900 foot deep closed basin with the potential to contain a large quantity of fluid.
EQ: Your Alkali Lake property is in close proximity to Rockwood Lithium Mine. How close and what might that mean for Alkali Lake?
Brian Findlay: Our Alkali lake property is only 7 miles away from Rockwood Lithium. Since we last spoke, we have completed a gravity survey on the Alkali Lake and surrounding area. To our pleasant surprise the Alkali Lake property revealed a 4,000 foot closed basin as well as a second 3,000 foot closed basin very close by. Needless to say, Dajin immediately staked this property and we now include this second target as part of the overall Alkali Lake property.
EQ: While most of the rest of the commodities market is getting walloped, lithium has continued to make gains due to its role in the energy storage industry. Do you see demand from that sector continuing to increase?
Brian Findlay: Yes, with the primary drivers being electric vehicle batteries and energy storage. To that effect, just a few weeks ago lithium producer FMC Corp raised the price of all finished forms of lithium by 15%. That puts lithium hydroxide at over $10,000 per ton and lithium carbonate at over $7,000 per ton.
EQ: With properties in Nevada and Argentina, you’re positioned in two ideal locations for lithium production. Can you describe your strategy in identifying potential assets and how it led you to Nevada and Argentina?
Brian Findlay: Fortunately there are only a limited number of locations that are known to contain lithium, even fewer that are known to contain lithium brine, and that is specifically what we are interested in. Our management team and technical advisory board have the experience and expertise in these specific areas and are able to make strategic decisions to move the projects forward in a timely manner.
You can read more about Dajin Resources and the compelling opportunities in the lithium exploration field by visiting dajin.ca.
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