Stria Unveils Cost-Cutting Lithium Processing Technologies for Its Pontax and Wilcox Lithium Projects
January 14, 2014 (Source: Marketwired) — Stria Capital Inc. (TSX VENTURE:SRA) (“Stria”) owner of the Pontax Lithium and Wilcox Lithium Projects, (see news release dated January 6, 2014 available at www.sedar.com), in Canada and the United States, announced today its plans to introduce proprietary on-site processing technologies that produce high purity lithium chloride directly from spodumene ore on an environmentally sustainable, cost-reduced basis.
Stria’s proprietary processing technologies were developed by Mr. David Johnson, a co-founder and Director of ALCERECO Inc., a Kingston, Ontario-based advanced materials services company that provides specialty processing capabilities to companies innovating in new and existing markets.
“A simpler, more efficient recovery of lithium and lithium compounds from spodumene ore at the source leads to a competitive advantage in business terms,” said Gary Economo, Stria’s President and Chief Executive Officer.
Mr. Economo said the potential benefits of the technologies is that they require less controls; less chemistry via the recycling of chemicals; require less energy due to energy recycling; reduce capital costs from the construction of smaller, compact processing facilities, and; the combination of a simple process and compact design enable easy automation.
“Powering the green revolution from technologies that bring high purity lithium products to market on a cost-competitive basis with lithium brine precipitation producers is critical to our long-term success in the lithium sector,” said Mr. Economo.
“We see technology innovation as the key that unlocks the door for Stria to move into an established global market in tandem with green technology manufacturers seeking low-cost, high-quality lithium chloride, lithium carbonate and lithium hydroxide sourcing options,” Mr. Economo added.
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(1) The acquisition by Stria of Pueblo Lithium LLC from the Vendor is subject to various terms and conditions set forth in the Agreement, including Board approvals and the receipt of requisite TSX-V and other regulatory approvals. (Please refer to Stria’s news release dated December 23, 2013).
Lithium is considered a key, strategic material in the clean technology economy that is being fuelled by advances in electric vehicles, energy storage and electronics.
The U.S. Department of Energy has identified lithium as a critical material whose demand is forecast to grow dramatically in the medium term, with rechargeable lithium batteries leading the way.
Demand for lithium batteries – especially from consuming nations India and China – is expected to increase significantly as demand for plug-in hybrid electric and all-electric vehicles grows.
Demand today for rechargeable lithium batteries already exceeds that of rechargeable non-lithium batteries for use in cellphones, cordless tools, MP3 players and portable computers and tablets, according to the US Geological Survey.
Major automobile companies are scrambling to develop lithium batteries for electric vehicles and hybrid-electric vehicles. According to the U.S. Energy Department’s Critical Materials Strategy, in the medium term, Li-ion batteries may gain significant market share, especially in hybrid-electric vehicles, as more carmakers switch over from nickel-metal hydride batteries.
Lithium batteries could also be important to the successful integration of renewable electricity technologies in the context of Smart Grid development.
Non-rechargeable lithium batteries are used in calculators, cameras, computers, electronic games, watches, and other devices.
About ALCERECO Inc.
ALCERECO Inc. was formed by a group of partners with extensive backgrounds in advanced materials, new product development and commercialization. The company has connections to global value chains for both supply and applications.
ALCERECO’s combined experience includes management positions in large chemicals and light metal companies, industrial research in metal and mining technology, successful new product commercialization, and designing and building new processing facilities.
About Stria Capital Inc.
Stria recently commenced operations as a Tier 2 mining issuer. Prior to the TSX approval on December 17, 2013 of the Company’s acquisition of the Pontax-Lithium property, in the James Bay region of Quebec, as the Company’s qualifying transaction, Stria had been a Capital Pool Company.
Stria is engaged on the acquisition and development of clean technology mineral properties in North America and includes the Wilcox Lithium Project located in Cochise, Arizona.
Qualified Person: This news release has been reviewed and approved by Mr. Julien Davy, P.Geo., M.Sc., MBA, Vice President of Exploration for Stria and a Qualified Person under NI 43-101 guidelines.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statement
This presentation contains “forward-looking information” within the meaning of Canadian securities legislation. All information contained herein that is not clearly historical in nature may constitute forward-looking information. Generally, such forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “occur” or “be achieved”. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to: (i) volatile stock price; (ii) the general global markets and economic conditions; (iii) the possibility of write-downs and impairments; (iv) the risk associated with exploration, development and operations of mineral deposits; (v) the risk associated with establishing title to mineral properties and assets; (vi)the risks associated with entering into joint ventures; (vii) fluctuations in commodity prices; (viii) the risks associated with uninsurable risks arising during the course of exploration, development and production; (ix) competition faced by the Company in securing experienced personnel and financing; (x) access to adequate infrastructure to support mining, processing, development and exploration activities; (xi) the risks associated with changes in the mining regulatory regime governing the Company ; (xii) the risks associated with the various environmental regulations the Company is subject to; (xiii) risks related to regulatory and permitting delays; (xiv) risks related to potential conflicts of interest; (xv) the reliance on key personnel; (xvi) liquidity risks; (xvii) the risk of potential dilution through the issue of common shares; (xviii) the Company does not anticipate declaring dividends in the near term; (xix) the risk of litigation; and (xx) risk management. Forward-looking information is based on assumptions management believes to be reasonable at the time such statements are made, including but not limited to, continued exploration activities, no material adverse change in metal prices, exploration and development plans proceeding in accordance with plans and such plans achieving their stated expected outcomes, receipt of required regulatory approvals, and such other assumptions and factors as set out herein. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in the forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such forward-looking information. Such forward-looking information has been provided for the purpose of assisting investors in understanding the Company’s business, operations and exploration plans and may not be appropriate for other purposes. Accordingly, readers should not place undue reliance on forward-looking information. Forward-looking information is made as of the date of this news release, and the Company does not undertake to update such forward-looking information except in accordance with applicable securities laws.
Raj Shah has professional experience working for over a half a dozen years at financial firms such as Merrill Lynch and First Allied Securities Inc., ... <Read more about Raj Shah>