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Gold/Mining/Energy : Lithium -- Ignore unavailable to you. Want to Upgrade?

To: teevee who wrote (260)	8/14/2009 11:47:07 PM
From: russet	Respond to of 1146

Thanks for those calculations, puts thing into perspective. Got this from David Pescod's blurb today,... we have Don Mosher who is the President of Rodinia write a brief piece on what the company is actually all about and also we ask, while we had him, to write about a stock pick that might make a speculator a few bucks or two. Mosher writes, “Lithium is becoming a very hot commodity due to the need for advanced battery technology in the auto sector. South America produces most of the world’s lithium from lithium brines located in Chile and Argentina as a byproduct of potash production. Brine based production is much cheaper than hard rock production and led to the closing of most hard rock production 20 years ago. President Obama recently announced a US$2.4 billion in grants to accelerate the manufacturing and use of next-generation car batteries and electric vehicles, US agenda is going to demand US based lithium production. Rodinia Minerals Inc started to look at the acquisition of a lithium project in the summer of 2008, we were very fortunate in stumbling across Clayton Valley, Nevada. The only lithium select brine production in North America is from a 5000 acre (including evaporation ponds) plant that has been in production since 1966. Nevada is the most mine friendly jurisdiction in the US and in addition our operation operates under placer regulations which are less stringent than dealing with the regulations in the hard rock world. Rodinia’s project encompasses 50,440 acres surrounding the facility and gives us the rest of the valley to explore. We are exploring a resource that is contained in a reservoir so a comparison to the oil and gas business would be a better than looking at it as a traditional mining business,. Drilling with a rotary drill and taking water samples the same as drilling water wells, will determine the lithium in our reservoir. The USGS drilled 7 holes on our property in the 1970’s indicating that the brines in the basin contain lithium in solution at between 300 to 700 ppm with a sample as high as 1000 ppm. In 1975, I.A. Kunasz of the American Institute of Mining, estimated the mineral endowment of Clayton Valley to be 750 million kg of lithium. A more recent study by Price, Lechler, Lear and Giles in 2000, suggests that significantly more lithium was released into the Clayton Valley catchment by the weathering of high lithium bearing rocks. A recent 2D reflective seismic survey has produced 3 drill targets that we plan on drilling before the end of August to a depth of about 400 metres. The drilling will be followed up with a additional seismic giving us a detailed profile of the valley followed by more drilling. It will take an estimated 20 holes to give us a compliant NI 43-101 lithium resource. We are financed with $3.7 million in the treasury and are going to move this project ahead as fast as possible.”