Pan American Lithium Corp. CEO Featured on GLX-TV Financial News
March 05 2012 - 7:35AM
Pan American Lithium Corp. (TSX-V:PL) (OTCBB/OTCQB:PALTF) CEO
Andrew Brodkey cited the soaring growth in demand for lithium and
its positive impact on lithium producers in an interview on the
GLX-TV Financial News network. The interview is available at:
http://www.youtube.com/watch?v=I8pXsi_ENyg&feature=youtu.be
Brodkey recently returned from the 4th Annual Lithium Supply and
Markets Conference 2012 that was held in Buenos Aires. At the
conference, which is attended by key leaders in the worldwide
lithium trade, industry experts issued a bullish outlook for the
growth of lithium demand.
In a development of key importance, Brodkey said that the four
major companies that are now mining lithium acknowledged at the
Buenos Aires conference that market demand will support newer
players such as Pan American Lithium.
Lithium is essential, and is in high demand, for a wide range of
batteries products due to its lower weight and higher power density
compared to lead acid batteries, Brodkey pointed out. It is used in
mobile devices such as smartphones, tablets, and for batteries in
conventional, hybrid and electric automobiles. Growth in demand for
all of these products is expected to rise rapidly.
Brodkey noted that the international lithium carbonate market
has grown from 100,000 tons in 2009 to 150,000 tons in 2011. Future
prospects for demand are to reach 300,000 tons in 2020 and 500,000
tons in 2025.
Pan American Lithium's projects focus on brines in or under
salars (dry lake beds) in Chile. The company owns interests in 11
salars, mineral-rich brine lakes, with the potential to produce
lithium, potassium and other metals, all located in the
mineral-rich Atacama Region III of Chile. Brodkey pointed out that
lithium production from water sources is far less expensive than
hard rock, excavation-based mining and involves pumping and
filtering processes.
The company has obtained financing through a private placement
with POSCO Canada (Poscan), a subsidiary of South Korean steelmaker
POSCO (NYSE:PKX), among other sources. The investment from POSCO of
almost $1.5 million will help Pan American to produce lithium and
potassium within the next four years.
In addition, the agreement gives POSCO the right to build a
lithium and potassium pilot plant at one of Pan America's brine
properties in Chile.
Pan American also has interests in additional lithium projects,
including an option on a concession in the geothermal brines
currently being produced at the Cerro Prieto geothermal power plant
located in Baja California, Mexico.
This press release contains projections and forward-looking
information that involve various risks and uncertainties regarding
future events. Such forward-looking information can include without
limitation statements based on current expectations involving a
number of risks and uncertainties and are not guarantees of future
performance of the Company, such as the statements that the Company
believes that through this agreement it will reach its goals, which
are to increase trading volume as well as achieving a fair market
value representation for Pan American shares while increasing the
investment community's awareness of the Company. There are numerous
risks and uncertainties that could cause actual results and the
Company's plans and objectives to differ materially from those
expressed in the forward-looking information, including: (i)
inability of the Company to complete its business plan; (ii) a
decrease in demand for and price of lithium or potassium; and (iii)
general uncertainties with respect to mineral exploration in
general. Actual results and future events could differ materially
from those anticipated in such information. These and all
subsequent written and oral forward-looking information are based
on estimates and opinions of management on the dates they are made
and are expressly qualified in their entirety by this notice.
Except as required by law, the Company does not intend to update
these forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
CONTACT: Jodi Henderson, Corporate Secretary
1-520-989-0032
Email: jhenderson@kriyah.com
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