You go away for a week and look what you miss! Job data spurring a wave of rallying in the stock market - Year to Date (YTD) is looking better than ever. Heck, even in Canada they are seeing 89% jump in real estate sale in certain areas (Vancouver!)
If you are still doubting lithium battery and electric vehicles are for hippies, you must just miss out on the biggest stock market jump in decades. If you dont think its hit mainstream yet - what would you call President Obama approving the single largest budget for research and development for battery technology!
Direct from WhiteHouse
http://www.whitehouse.gov/the_press_office/24-Billion-in-Grants-to-Accelerate-the-Manufacturing-and-Deployment-of-the-Next-Generation-of-US-Batteries-and-Electric-Vehicles/
President Obama Announces $2.4 Billion in Grants to Accelerate the Manufacturing and Deployment of the Next Generation of U.S. Batteries and Electric VehiclesAfter the announcement green energy, solar, banking, even mortage lending companies all had a significant rally. If anything, government expenditures indicate a direction for the private sector to follow suit.
Recovery Act will fund 48 new advanced battery and electric drive components manufacturing and electric drive vehicle deployment projects in over 20 states
Elkhart, Indiana – Further accelerating the manufacturing and deployment of electric vehicles, batteries, and components here in America, and creating tens of thousands of new jobs, President Obama today announced 48 new advanced battery and electric drive projects that will receive $2.4 billion in funding under the American Recovery and Reinvestment Act. These projects, selected through a highly competitive process by the Department of Energy, will accelerate the development of U.S. manufacturing capacity for batteries and electric drive components as well as the deployment of electric drive vehicles, helping to establish American leadership in creating the next generation of advanced vehicles.
"If we want to reduce our dependence on oil, put Americans back to work and reassert our manufacturing sector as one of the greatest in the world, we must produce the advanced, efficient vehicles of the future," said President Obama.
"For our nation and our economy to recover, we must have a vision for what can be built here in the future – and then we need to invest in that vision," said Vice President Biden. "That’s what we’re doing today and that’s what this Recovery Act is about."
The announcement marks the single largest investment in advanced battery technology for hybrid and electric-drive vehicles ever made. Industry officials expect that this $2.4 billion investment, coupled with another $2.4 billion in cost share from the award winners, will result directly in the creation tens of thousands of manufacturing jobs in the U.S. battery and auto industries.
The new awards cover the following areas:
- $1.5 billion in grants to U.S. based manufacturers to produce batteries and their components and to expand battery recycling capacity;
- $500 million in grants to U.S. based manufacturers to produce electric drive components for vehicles, including electric motors, power electronics, and other drive train components; and
- $400 million in grants to purchase thousands of plug-in hybrid and all-electric vehicles for test demonstrations in several dozen locations; to deploy them and evaluate their performance; to install electric charging infrastructure; and to provide education and workforce training to support the transition to advanced electric transportation systems.
Today, President Obama visited Navistar International Corporation, in Elkhart, Ind., to make the announcement. Navistar will receive a $39 million grant to manufacture electric trucks which the company reports will ultimately will create or save hundreds of jobs when full scale manufacturing at the site commences. Overall, seven projects in Indiana will receive grants totaling more than $400 million. The applications from the companies and from one university engaged in this technology research anticipate that these awards will create or save thousands of jobs.
Vice President Joe Biden and four Members of the Cabinet, also fanned out across the country to discuss the historic announcement.
Vice President Biden was in Detroit to announce over $1 billion in grants to companies and universities based in Michigan. Reflecting the state’s leadership in clean energy manufacturing, Michigan companies and institutions are receiving the largest share of grant funding of any state. Two companies, A123 and Johnson Controls, will receive a total of approximately $550 million to establish a manufacturing base in the state for advanced batteries, and two others, Compact Power and Dow Kokam, will receive a total of over $300 million for manufacturing battery cells and materials. Large automakers based in Michigan, including GM, Chrysler, and Ford, will receive a total of more than $400 million to manufacture thousands of advanced hybrid and electric vehicles as well as batteries and electric drive components. And three educational institutions in Michigan, the University of Michigan, Wayne State University in Detroit, and Michigan Technological University in Houghton in the Upper Peninsula, will receive a total of more than $10 million for education and workforce training programs to train researchers, technicians and service providers, and to conduct consumer research to accelerate the transition towards advanced vehicles and batteries.
Energy Secretary Steven Chu, whose Department selected the 48 award winners, visited Celgard, in Charlotte, NC, to announce a $49 million grant for the company to expand its separator production capacity to serve the expected increased demand for lithium-ion batteries from manufacturing facilities in the U.S. Celgard will be expanding its manufacturing capacity in Charlotte, NC and nearby Aiken, SC, and the company expects the new separator production to come online in 2010. Celgard expects that approximately hundreds of jobs could be created, with the first of those jobs beginning as early as Fall 2009.
EPA Administrator Lisa Jackson was in St. Petersburg, FL, to announce a $95.5 million grant for Saft America, Inc. to construct a new plant in Jacksonville on the site of the former Cecil Field military base, to manufacture lithium-ion cells, modules and battery packs for military, industrial, and agricultural vehicles.
Deputy Secretary of the Department of Transportation John Porcari visited East Penn Manufacturing Co., in Lyon Station, Penn., to award the company a $32.5 million grant to increase production capacity for their valve regulated lead-acid batteries and the UltraBattery, a lead-acid battery combined with a carbon supercapacitor, for micro and mild hybrid applications. East Penn Manufacturing is a third-generation family business with over 63 years in battery manufacturing.
Commerce Secretary Gary Locke visited Kansas City, Missouri, to announce a $10 million grant for Smith Electric to build and deploy up to 100 electric vehicles, including vans, pickups, and their "Newton" brand medium duty trucks. In addition, Secretary Locke announced three other grants supporting manufacturing and educational programs in Missouri: a $30 million grant to Ford Motor Company supporting the manufacturing of plug-in hybrid electric vehicles in Kansas City and in Michigan; a $73 million grant to Chrysler, for the manufacturing of 220 plug-in hybrid and electric pickup trucks and minivans in St. Louis and in Michigan; and a $5 million grant to Missouri University of Science and Technology, in Rolla, Missouri, to fund educational and workforce training programs on advanced vehicles technologies.
Who do you think will eventually build the infrastructure and power grid necessary to charge your lithium-powered electric vehicle...its likely not private funds thats for sure!! 3P, or Private-Public-Partnerships are more common as the government become more tapped for resources, and knowing government is already on board for battery tech - one should stay ahead of the curve and look into what the raw material these battery makers need.
Speaking of lithium and rare metals front - a junior company tha thas done well for us, TNR Gold Corp and its subsidiary International Lithium Corp - has commenced its exploration work in Ontario. Usually the stock price rallies on an exploration news...the reason why is that investors are excited that news will finally be coming out about specific projects they have heard about months ago from acquiition news.
In other words - its time to see if all the hype about good projects will be proven!
Canada has some of the reat rare earth deposits spawning from pegmatites and spodumene rich regions. It gives me great confidence as well that the guy leading the program Dr. Fred Breaks is a well-regarded geologist that has drafted over 100+ peer reviewed journal articles. Further, hes no ordinary academic staying in the library cranking out articles - he has field experience and can put his name on several discovery, including what used to be Avalon Rare Metals main project, Separation Rapids. Knowing a guy like that is on TNR and Int Lithium team makes you wonder what hes recommending to International Lithium this time...could it be the next big lithium and rare metals project for Dr Breaks!
Lastly, we get to the wave of acquisition and rare metal news - we are in an unprecedented era where countries are getting involved in securing resources directly from other countries. In a form of currency invasion, Chinas purchasing power is inevitably controlling more and more of North American resources.
July 27, 2009 TNR Gold Corp Commences Work on Canadian Lithium & Rare Metals Properties Vancouver B.C.: TNR Gold Corp. ("TNR" or the "Company") is pleased to announce that exploration work has commenced on its 100%-owned lithium and rare metals properties, Niemi Lake, Forgan Lake, & Mavis Lake, all of which are located in Ontario, Canada.
The exploration program will focus on sampling of the known pegmatite occurrences and obtaining historic grade confirmation of both lithium and other Rare Metals.
The exploration program is being directed by Dr. Fred Breaks, a special advisor to the TNR Board. Dr. Breaks is a Ph.D. and Professional Geoscientist who is well known as a Lithium and Rare Metals expert in Canada. A proven explorer, he discovered two significant lithium-rich deposits: Avalon Venture Ltd's Big Whopper pegmatite near Kenora, Ontario and Houston Lake Mining Inc's Pakeagama Lake pegmatite in the North Spirit Lake area of Northwestern Ontario. His ability to create exploration models of lithium-rich, pegmatite deposits was developed during his career at Ontario Geological Survey where he authored and coauthored over 120 peer-reviewed scientific papers.
ABOUT FORGAN & NIEMI LAKE
The Forgan and Niemi Lake projects are located east of Forgan Lake within the Thunder Bay District of Ontario. Forgan Lake has four previously explored spodumene-bearing pegmatites yielding positive results such as 4.23% Li2O over 7.5 m and and two samples 68.6 m farther southwest averaging 1.98% Li2O over 7.6 m.
Furthermore, all identified pegmatites have not been fully delineated at Forgan Lake and thus the extent of the deposits remains open. All identified historic work preformed by Lun-Echo Gold Mines Ltd analyzed drill core exclusively for Li2O.
Historic drilling on the Niemi project, also undertaken by Lun-Echo Gold Mines Limited, returned values of 4.72m of 1.02% Li2O and 1.52m of 2.0% Li2O.
ABOUT MAVIS LAKE
The Mavis Lake Project covers the eastern extent of the Mavis Lake pegmatite group, encompassing nine identified rare-element-bearing pegmatites within a 512 hectare claim block. Located only 15km northeast from Dryden Ontario, Mavis is workable year round with excellent infrastructures. Historical lithium and tantalum values at the Mavis Lake property include 2,320 ppm of Li2O and 170 ppm of Tantalum over 1.3 metres.
Tantalum is a rare metal with diverse applications across several industries -- capacitors in portable devices such as cell phones, computers, micro-sensors, precision laboratory gear, surgical equipments, camera lenses, and more. The corrosion-resistant, hard, and blue-gray metal is estimated to comprise 1-2ppm of the Earth's crust and is mainly produced by Australia (Talison Minerals Corp.), China, and Ethiopia with Canada and Brazil adding to output as a by-product from niobium mining.
The results from the initial property evaluation will allow TNR to prioritize the development of its large portfolio of lithium and rare earth projects.
Ike Osmani, P.Geo, is the company's qualified person on the project as required under NI 43-101 and has reviewed the technical information contained in this press release.
To help understand the technical aspects of Lithium and Rare Metals please visit TNR's website at www.tnrgoldcorp.com
ABOUT TNR GOLD
TNR is a diversified metals exploration company focused on identifying and exploring existing properties in Argentina and Alaska and new prospective projects globally. Upon approval of pending licences in Ireland, TNR will have a total portfolio of 32 properties, of which 16 will be included in the proposed spin-off of International Lithium Corp.
In addition to shareholder's current share of TNR, they will receive one share and one full tradable warrant of International Lithium Corp. for every 4 shares of TNR held as of the yet determined record date. This will result in TNR shareholders owning shares in both TNR and International Lithium. For further details of the spin-off please refer to TNR's April 27, 2009 news release or visit http://www.internationallithium.com
The recent acquisition of lithium projects in Argentina, Canada, USA and Ireland confirms the Company's commitment to project generation, market diversity and building shareholder value.
On behalf of the board,
Gary Schellenberg
President
With the newest wave of rare metals and lithium rush for battery and next-generation power storage, China still hold 80%+ of the worlds rare metal production. Thus, what we are seeing is Japanese conglomerates actively seeking out junior companies with lithium and rare metal reserves.
After all, with the paltry market cap that most juniors on TSX have (under $50 million), it is pocket change for multi-billion revenue giants like Toyota.
For retail investors - this opportunity presents a chance to make a good 100% on your investments easily - as in the case of Great Western Minerals (GWG.V) who recently signed a Letter of Intent with Toyota for joint explorations. If you are doubting that junior companies are worthwhile investments, GWG traded only at $0.05-0.07 prior to the LOI. See the jump post July 23. (left)
I think its fair to assume that other Japanese conglomerates are actively seeking out quality juniors with viable assets and-or experienced management team that can make things happen. Heres the news release.
TSX Venture Symbol: GWG
US Symbol: GWMGF
CUSIP 3914Y 10 3GREAT WESTERN MINERALS GROUP AND TOYOTA TSUSHO CORPORATION SIGN LETTER OF INTENT TO COOPERATE ON EXPLORATION PROJECTS
July 21, 2009 - Saskatoon Saskatchewan and Nagoya Japan - Great Western Minerals Group Ltd. (TSX:V - “GWG”) and Toyota Tsusho Corporation (Tokyo Stock Exchange - “8015T”; Nagoya Stock Exchange - “8015NG”) are pleased to announce that both Companies have signed a non-binding letter of intent (the “Letter of Intent) to examine the merits of jointly conducting exploration and development activities on certain of Great Western Minerals’ existing projects (the “Proposed Transactions”).
Under the terms of the Letter of Intent, Toyota Tsusho Corporation (“TTC”) and Great Western Minerals Group (“GWMG”) will discuss possibilities for the Douglas River and Benjamin River exploration projects. TTC will have an exclusivity provision in these discussions for a six month period.
These two projects are of particular interest to TTC since the mineralization of these two properties appears to be significantly enriched in the “heavy” rare earth elements (“HREE”). The HREE are high value products that are critical to the manufacture of high-temperature magnets used in electric motors for a wide range of applications including hybrid vehicles and for phosphors used in LCD and plasma flat panel displays.
As such, the Board determined that GWMG could not move forward with negotiation of a definitive agreement relating to the Proposed Transaction and both GWMG and Molycorp have allowed the Letter of Intent to expire in accordance with its terms.
As reported in the GWMG’s news release dated January 7, 2009, assays from previous sampling of the vein material on the Benjamin River property varied from 0.6% total rare earth oxide (“TREO”) to 1.0 % TREO with over 30% HREE by proportion, including yttrium. Historic trench sampling of the Douglas River property in northern Saskatchewan yielded REE grades of up to 10% yttrium with accompanying high grades of HREE including dysprosium with grades up to 0.89% representing over 99% HREE and yttrium by proportion.
Toyota Tsusho Corporation, headquartered in Nagoya, Japan, is the sole trading company of the Toyota Group. The company's business includes domestic wholesale, exports, imports, overseas trading, contract construction, and insurance agency businesses. Worldwide, the Toyota Tsusho Group employs approximately 28,000 people. Consolidated global sales for the fiscal year ended March 31, 2009 totaled US$64 billion.
Great Western Minerals Group Ltd. is a Canadian-based company exploring for, and developing, strategic metal resources in North America and South Africa. Pursuing a vertically-integrated business model, the Company's wholly-owned subsidiaries of Less Common Metals Limited located in Birkenhead UK, and Great Western Technologies Inc., located in Troy, Michigan, produce a variety of specialty alloys for use in the battery, magnet and aerospace industries. These "designer" alloys include those containing copper, nickel, cobalt and the rare earth elements.
Jim Engdahl, President and CEO of Great Western Minerals Group said, “We believe that the joint participation by both Companies in this exploration and development initiative offers significant potential value for both Parties. We believe that Great Western Minerals Group has a lot to offer a partner such as Toyota Tsusho, not only from the potential of our exploration projects, but from our value added production facilities as well.”
The completion of any Proposed Transaction is subject to several conditions, including the completion of all necessary legal, financial and technical due diligence reviews and receipt of all necessary consents and approvals, including board and regulatory approvals. There is no assurance that a Proposed Transaction will be completed as proposed, or at all.
John Pearson, MSc., P.Geo., Vice-President Exploration for GWMG, is the qualified person responsible for reviewing the contents of this news release.
The TSX Venture Exchange has in no way passed upon the merits of the Proposed Transactions and has neither approved nor disapproved the contents of this press release.
Jim Engdahl, President and CEO of Great Western Minerals Group said, “After careful consideration, we did not feel that the direction in which we were heading with Molycorp was in the best interests of our shareholders or that we would be able to come to arrangements that would preserve our unique mine-to-market strategy. In light of the recent and sudden focus on the rare earth sector by the investment markets and in view of the additional interest we have received during the last several months, we will continue to pursue discussions with other potential strategic partners who share our vision as a vertically integrated developer of rare earth properties and products”.
Mr. Jim Engdahl
President and Chief Executive Officer
Great Western Minerals Group Ltd.
Tel: (306) 659-4508For additional information, please contact Ron Malashewski, Manager of Investor Relations, Great Western Minerals Group Ltd. (306) 659-4516, or by email at info@gwmg.ca. Inquiries by direct mail should be addressed to Great Western Minerals Group Ltd., 226 Cardinal Crescent, Saskatoon, SK S7L 6H8.
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