Oroplata Resources, Inc., through its subsidiaries, engages in the exploration and development of lithium and other minerals. The company is involved in the development of lithium brine deposits in Nevada. Oroplata Resources, Inc. was founded in 2011 and is based in Incline Village, Nevada.
Average daily volume for ORRP is 119 thousand shares. Today’s news has caused the volume to spike over 1 million shares to a intraday high of $0.16.
Oroplata Resources, Inc. Press Release:
INCLINE VILLAGE, NV / ACCESSWIRE / October 16, 2018 / LithiumOre (http://lithiumore.net) (the “Company”), a wholly-owned subsidiary of Oroplata Resources, Inc. (OTCQB: ORRP), a lithium resource exploration and development company, is pleased to announce that it has signed a Joint Venture agreement with CINC Industries, Inc. for exclusive rights to its battery metals extraction technology in the U.S.
For over 20 years, CINC’s proprietary extraction technology has been a leader in the field of chemical extraction. CINC has serviced a wide range of industries including petroleum, chemical, mining, pharmaceutical and environmental industries. CINC’s machines were utilized in the BP oil spill cleanup in 2010 and the U.S. Department of Energy uses CINC technology at their facilities for nuclear waste cleanup applications. The Joint Venture will employ this same proven technology to extract lithium from LithiumOre’s salt brines in Nevada.
The agreement grants LithiumOre exclusive rights to CINC’s proprietary battery metals extraction technology in North America. LithiumOre will deploy the technology to extract lithium salt from salt brine at their Railroad Valley Lithium Project in Nevada and will market, promote and sell CINC’s existing and/or future processing equipment to the global battery metals mining industry.
“It is well known in the industry that extracting lithium from brines is much more cost efficient than extracting lithium through hard rock mining. The issue with lithium brine extraction historically is that it requires evaporation ponds to remove the liquid water from the lithium brines, which can take 18 months to achieve. CINC’s centrifugal technology has the potential to reduce the 18-month processing time to one week or less. This is another strong step towards achieving our goal of becoming one of the most substantial fully integrated battery metals production companies in the U.S.,” said Doug Cole, Chief Executive Officer of LithiumOre.
Bret Sheldon, Chief Executive Officer of CINC Industries said, “This new joint venture agreement is anticipated to significantly expand the use of our existing continuous flow solvent extraction and separation technology into the battery metals industry. Our CINC technology has the potential to reduce the processing costs and timelines for the battery metals industry and to create a new very profitable silo of business for our joint venture company. We look forward to teaming with Lithium Ore to develop the processes and products that have the potential to revolutionize the extraction of Lithium from salt brine resources.”
CINC Industries Inc. (http://cincindustries.com) provides centrifugal processing solutions for liquid processing requirements worldwide. It designs, manufactures, sells, and supports liquid-liquid centrifugal separators/contactors for applications in chemical, mining and metals recovery, pharmaceutical, food and nutrition, flavors and fragrances, printing, biodiesel production, oil/water, biotech, industrial, nuclear and environmental industries. The company was founded in 1999 and is based in Carson City, Nevada.
LithiumOre (http://lithiumore.net), a wholly-owned subsidiary of Oroplata Resources, Inc. (OTC Markets: ORRP), is a lithium resource exploration and development company, whose primary focus is the establishment of a low cost, environmentally sound production base to supply the rapidly growing lithium-ion battery industry for both mobile devices and laptops, as well as the burgeoning EV (electronic vehicle) industry. LithiumOre is focused on becoming a substantial, profitable lithium producer via the timely development of valuable production-grade lithium brine deposits in Nevada.
For more information, please visit: http://lithiumore.net
This press release contains “forward-looking statements” within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, including those with respect to the expected project economics for Western Nevada Basin (Railroad Valley), including estimates of life of mine, average production, cash costs, AISC, initial CAPEX, sustaining CAPEX, pre-tax IRR, pre-tax NPV, net cash flows and recovery rates, the impact of self-mining versus contract mining, the timing to obtain necessary permits, the submission of the project for final investment approval and the timing of initial lithium ore production after investment approval and full financing, metallurgy and processing expectations, the mineral resource estimate, expectations regarding the ability to expand the mineral resource through future drilling, ongoing work to be conducted at the Western Nevada Basin (Railroad Valley), and the potential results of such efforts, the potential commissioning of a Pre-Feasibility study and the effects on timing of the project, are “forward-looking statements.” Although the Company’s management believes that such forward-looking statements are reasonable, it cannot guarantee that such expectations are, or will be, correct. These forward-looking statements involve a number of risks and uncertainties, which could cause the Company’s future results to differ materially from those anticipated. Potential risks and uncertainties include, among others, interpretations or reinterpretations of geologic information, unfavorable exploration results, inability to obtain permits required for future exploration, development or production, general economic conditions and conditions affecting the industries in which the Company operates; the uncertainty of regulatory requirements and approvals; fluctuating mineral and commodity prices, final investment approval and the ability to obtain necessary financing on acceptable terms or at all. Additional information regarding the factors that may cause actual results to differ materially from these forward-looking statements is available in the Company’s filings with the Securities and Exchange Commission, including the Annual Report on Form 10-K for the year ended September 30, 2017. The Company assumes no obligation to update any of the information contained or referenced in this press release.
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