Currently Argentina represents 15% of total world lithium production or approximately 200,000 tonnes per year, but spurred by the growth of electric cars, and lithium-ion powered electronics, that number is estimated to reach 400,000-500,000 tonnes per year by 2025.
Exploring for lithium in the underexplored Argentina, part of the golden lithium triangle along with Chile and Bolivia, is thus a good move for a small cap ASX stock with big ambitions.
Latin Resources (ASX:LRS) has invested over eight years of work and $20 million to date in South America on other projects and knows the lay of the land enough to potentially capitalise on the lithium dependent future.
LRS has several milestones it is about to hit including commencement of field work and drilling to start in July.
The company has more than 100,000 hectares of exploration concessions as it attempts to be the first company to define a hard rock lithium resource in Argentina.
LRS is also looking to commence design work and PFS on a spodumene concentrate plant when its JORC Resource is completed estimated to be in the third quarter 2017, giving it complete control of its lithium production should its exploration be successful.
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Lithium isn’t the only play this company has, LRS is also shoring up its presence in Argentina with a cobalt play to further embed itself in the new energy scene and has taken its first steps towards securing potential cobalt mineral assets.
Yet it is LRS’ lithium play that has all the momentum at the moment. Recent results combined with successful drilling, puts LRS in a strong position to continue its push forward in the new energy exploration space.
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South America has some of the most abundant sources of high-grade lithium in the world. Here, Argentina — along with Chile and Bolivia — make up what is known as the ‘lithium triangle’ where two thirds of the world’s lithium supply come from.