Lithium Exploration Group, Inc. (OTC Pink: LEXG) is engaged in the development, acquisition, and exploration of natural resource properties across Canada. Primarily, the company focuses on lithium properties and mining. The lithium exploration company is rallying 25%, through morning trading on Wednesday, January 4, 2017. Over the past three months, the company has seen average daily volume of 12.97 million shares. However, over 44.12 million shares or dollar volume of $110,300, has already exchanged hands on Wednesday.
Shares of Lithium Exploration Group, Inc. are rallying Wednesday, after the company announced the planned deployment of its proprietary technology for more efficient lithium harvesting. The new technology is said to improve the internal rate of return (IRR) and margins of its lithium extraction activities. Being that the company focuses on lithium brine and not direct rock mining, the capital expenditures are already less, but the new technology will only improve profitability, according to management. Here is the full press release detailing of new technology:
Lithium Exploration Group, Inc. Press Release:
PHOENIX, AZ / ACCESSWIRE / January 4, 2017 / Lithium Exploration Group, Inc. (OTC PINK: LEXG) today announced plans to deploy a proprietary technology solution expected to substantially improve the internal rate of return (IRR) and margins of lithium harvesting operations. The capital expenditures (CAPEX) to harvest lithium brines are exponentially less than the CAPEX required to mine lithium from hard rock. The time from exploration to the delivery of usable lithium is substantially shorter when harvesting lithium from brine than when mining lithium from hard rock. The earths supply of lithium is vast, but not conveniently contained within concise geographical confines. Credit Suisse has published research that suggests multiple small lithium brine harvesting operations may present a CAPEX and return on investment (ROI) scenario more attractive to investors than large scale mining operations:
“Lithium brine deposits typically outperform hard rock and clay lithium sources on cost, sustainability and permitting. This gap is becoming more pronounced when we take into account technological advancements in brine processing….even though lithium is relatively abundant, it’s the 33rd most common element its very diffuse throughout nature, meaning that collecting and concentrating it is a very difficult task.”
Tomorrow, January 5, 2017, LEXG will release a on online presentation, available on demand, providing a detailed overview on the Company’s development of a proprietary technology solution to dramatically improve lithium harvesting operational efficiencies by both reducing harvesting time frames and improving extracted lithium purity.
The foundation of LEXGs proprietary technology solution is built on the Company’s experience with triggering a hyper-purification phenomenon from the application of mechanical ultrasound to induce controlled cavitation. The controlled cavitation technology, developed by LEXGs partner, Sonic Cavitation Ltd., has been tested in the purification of oil field wastewater. The technology can also separate lithium from brine. LEXG is now engaged with Sonic Cavitation to refine the application of the cavitation technology specifically for the lithium industry.
LEXG is also actively negotiating the acquisition of additional related lithium refinement technologies to augment the cavitation technology. The presentation to be published tomorrow, January 5, 2017 will highlight LEXGs strategy to create a unique ROI opportunity for its shareholders by offering a cornerstone technology solution especially valuable to the Credit Suisse anticipated proliferation of small-cap lithium brine harvesting companies.
About Lithium Exploration Group, Inc.
Lithium Exploration Group is a US-based exploration and development company focused on the acquisition and development potential of lithium brines and other precious metals that demonstrate high probability for near-term production. Currently the company is focused testing its SonCav Technology and the acquisition of oil and gas related assets in Western Canada. Lithium Exploration Group is traded on the OTC Markets under the symbol LEXG.