Wednesday, February 17, 2010

Japan Oil and Gas (JOGMEC) moving into Nevada - TNR, CLQ.v, WLC.v, LMR.v, SQM, FCM, Rockwood

If anything has taught North Americans a lesson - it's that hard work pays off. For many of the Asian countries where natural resources have always been scarce, there's a typical overall mandate that the larger government-backed companies have to acquire oversea assets such as mines and exploration projects.

JOGMEC is a Japanese government agency through which the country can secure longterm supply through a corporation.

Yesterday a small but significant deal was announced.

Japan Oil, Gas and Metals National Corporation (JOGMEC) Signs $2.5 Million USD MoA to Earn 51% of Lomiko's Alkali Lake Lithium Brine Property

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© Marketwire 2010

VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 02/16/10 -- LOMIKO METALS INC. (TSX VENTURE: LMR)(PINK SHEETS: LMRMF)(Europe: ISIN: CA54163Q1028, WKN: A0Q9W7) ("Lomiko" or "the Company") is pleased to announce that Japan Oil, Gas and Metals National Corporation ("JOGMEC") has entered into a Memorandum of Agreement ("MoA") with Lomiko Metals Inc. and its wholly-owned subsidiary Lomiko Metals USA LLC ("Lomiko USA") to acquire 51% of Lomiko's Alkali Lake Project ("the Property") in Esmeralda after completing $2.5 million USD in work no later than March 31, 2013.

Japan Oil, Gas and Metals National Corporation (JOGMEC) was established on February 29, 2004. JOGMEC integrates the functions of the former Japan National Oil Corporation, which was in charge of securing a stable supply of oil and natural gas, and the former Metal Mining Agency of Japan, which was in charge of ensuring a stable supply of nonferrous metal and mineral resources and implementing mine pollution control measures. Further details are available at: : .

Both parties must contribute based on a 51/49 ratio to retain their interest after the Earn-in-Date. JOGMEC has the Right of First Refusal to acquire the remaining interest in the property after the Earn-in-Date and may accelerate the Earn-in-Date by completing required expenditures early. JOGMEC also has the right to transfer its interests in the Alkali Lake Property, in whole or in part, to one or more Japanese companies or a consortium of Japanese companies. JOGMEC shall have exclusive right to direct the marketing of minerals or mineral materials removed from the Property on behalf of the Joint Venture for a 10 year period from the date of first commercial production.

The above agreement is subject to a 30 day due diligence period that may be extended to not more than 90 days. Once above due diligence is satisfied by JOGMEC, Lomiko and JOGMEC will form a Joint Venture Management Committee to direct exploration and Lomiko will act as Operator. JOGMEC shall prepare an initial draft of the definitive agreement between the parties to the MoA. Any Exploration expenditures by Lomiko from January 17, 2010 to present will be credited to the Joint Venture and compensated accordingly.

The Company's subsidiary Lomiko Metals USA LLC, located 552 lode claims comprising 4,615.4 Ha or 11,404.9 acres in Esmeralda County, Nevada. The staking covers a large portion of Alkali Flat Salt Lake in Montezuma Valley which is prospective for economic grades of lithium and other materials. America's only lithium production facility owned by Chemetall Foote, a subsidiary of Rockwood Holdings (NYSE: ROC) is located 15 km away by road in the Clayton Valley, immediately to the west. In addition to lithium carbonate, Silver Peak is one of the world's leading producers of lithium hydroxide. The U.S. government recently awarded Chemetall US $ 28.4 million USD to upgrade and expand the Silver Peak lithium brine mine as part of a program to supply sufficient lithium for the next generation of electric vehicle batteries (Resource World, Vol. 8, Issue 1). Details on Chemetall Foote's Silver Peak Property are available at: : .

Montezuma Valley (also known as Alkali Flat) formed in a structural basin, a down-faulted and rotated crustal block caused by tensional spreading forces common to the Basin and Range province of Nevada and nearby states. The faulted blocks, which often result in the creation of closed basins, are composed of a variety of Precambrian and Paleozoic rocks overlain by younger volcanic rocks ejected from a nearby eruption during the Tertiary. It is these volcanic rocks, some containing high lithium values, that are considered to be the source of lithium found in subsurface brines in Clayton Valley. Lithium, along with numerous other elements, was liberated from the rocks through mechanical and chemical weathering processes and transported into the basins. Subsequent climatic changes in the Quaternary resulted in the enrichment of lithium solutions by evaporation. Montezuma Valley and the Kar claims are located immediately east of Clayton Valley. The two valleys are separated by the Paymaster fault and share the exposed Precambrian and Paleozoic basement rocks covered by tertiary volcanic rocks of Paymaster Ridge.

Mr. Garth Kirkham, P.Geo, is the Qualified Person responsible for the technical content of this news release.

To view accompanying map, please click on the following link: :

On behalf of Lomiko Metals Inc.

Paul Gill, President & CEO
We seek safe harbor.

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.

While we do not believe the projects have as much merit as say, International Lithium's or Rodinia Minerals' assets in Nevada, it regardless is a step in the right direction as deals are starting to be made.

It's a smaller deal but we firmly believe end users such as Hitach (see below for drills), Toyota, Mitsubishi, are all waking up to the increasingly competitive market for a common lithium resource, outside of the majors (FMC, SQM, Chemetall).

I mean, if your business relied on a secure resource, even as a risk management step, wouldn't you want to diversify away from just Chile and Argentina?? 75% + of the world's supply currently come from there, it would be awfully easy for the major producers to hike up the price, no? Not to mention political risks!

LMR.v was up significantly on 2 million shares TSX-Venture yesterday. It closed at $0.115 today down 14%.

Tuesday, February 16, 2010

Mitsubishi Buys into Lithium, TNR.v, CLQ.v, WLC.v, NAR.v, LMK.v

If you need more proof the world needs more lithium than SQM:NYSE, FMC, and Chemetall Foot (Rockwood ROC:NYSE) can supply, look no further.

Here at Mining101 we have been following the Lithium movement right from the beginning - and we are getting more confirmations daily that this is it.
PERTH, Feb 15, 2010 (AsiaPulse via COMTEX) --

Japan's Mitsubishi Corporation (TSE:8058) has agreed to buy about 30 per cent of battery grade lithium carbonate output from Galaxy Resources Ltd's (ASX:GXY) Mt Cattlin mine in Western Australia.

Shares in Galaxy were up four cents, or 3.25 per cent, at A$1.27 (US$1.12) at 1253 AEDT.

Galaxy said in a statement on Monday it was close to finalising similar off-take agreements with other major groups and high-end users of battery grade lithium carbonate in China and other parts of Asia.

The value of the Mitsubishi deal was confidential, a Galaxy spokesman said.

Demand is growing for lithium, which is used in batteries for electric cars.


Monday, February 8, 2010

Lithium Conference - Las Vegas 2010, TNR.v, ORE.asx, WLC.v, RM.v, CLQ.v

With the world spotlight now on Lithium as the next green-energy material of choice in batteries, electric cars, and all things wonderful technology (think iPod, iPad, etc), the first annual industrial mineral commodity conference wrapped up last week.

Let us revisit some of the companies presenting and check the list of presenters against what we've outlined before as credible companies, shall we?

As we discussed in our previous entries..

I think when you're dealing with that level of audience, BS geology can only get you so far. Sorry, time to short Alberta oil-field brines!! (MCI.v, CHU.v, HAO.v, etc etc!)

Confirmed speakers include:

  • Dr Gal Luft, Executive Director, Institute for the Analysis of Global Security, USA
  • Jerry Huang, Corporate Communications Manager, TNR Gold / International Lithium Corp, USA
  • Iggy Tan, Managing Director, Galaxy Resources, Australia
  • Richard Seville, Chief Executive Officer, Orocobre, Australia
  • Jay Chmelauskas, President, Western Lithium Corp., USA
  • Don Bubar, President & CEO, Avalon Rare Metals Inc, Canada
  • Ted Miller, Senior Manager, Ford, USA
  • Keith Evans, Consultant, USA
  • Jon Evans, FMC Lithium Division Manager, FMC Lithium Corporation, USA
  • Robert Baylis, Senior Consultant, Roskill Information Services Ltd, UK
  • Waldo Perez, Chief Executive Officer, Lithium Americas, Canada
  • Mr. Patricio de Solminihac, Executive Vice President and Chief Operating Officer, SQM, Chile
  • Dr Steffen Haber, President, Lithium Division, Chemetall GmbH, Germany
And now consider the attendees. Note ones highlighted...Toyota just did a $5.5 million pre-feasibility deal with Orocobre, and are on the market looking for more.

The latest fiasco with braking problems is more of a government protectionist propaganda...heck the 90's Ford Explorer problem killed far more people and was potentially far more dangerous. Too bad nobody considered Hyundai's position in all this as they seem to be the ones profitting not GM...but I digress.


Advanced Metallurgical Group
Altairnano Inc
Amalgamet Canada
American Lithium
Amerpro Resources Inc
AMG Advanced Metallurgical Group NV
Angelo & Newton
Argonne National Laboratory
Asahi Kasei America Inc
Avalon Rare Metals Inc
Bal-Co Spa
Barclays Capital
Boart Longyear E & I Drilling
Bruce Consultancy
Bureau of Land Management
Byron Capital Markets
Calaway Interests LLC
Camet Metallurgy Inc
Canaccord Adams
Canada Lithium Corporation
Canadian Orebodies
Capital World Investors
Chemetall Foote Corp
Chemetall GmbH
Chemtura Corporation
Chenco GmbH
CIF Mineracao SA
Clearbridge Advisors
Cormark Securities
Dajin Res
Defense National Stockpile Center
Electric Metals Inc
Enova Systems Inc
Eye Management
FCM Lithium Corporation
First Analysis
FMC Corporation - Lithium Division
FMC Lithium
Ford Motor Company
Galaxy Resources Limited
Geological Survey of Japan
GeoXplor Corp
Gilford Securities
GlobeStar Mining Corporation
Hains Engineering Co Ltd
IGC Technologies LLC
Ihor Kunasz
Ilgren Consulting
Industrial Minerals
Institute for the Analysis of Global Security (IAGS)
International Lithium Corp
International Royalty Corporation
Itochu Chemicals America Inc
Itochu Corporation
Japan Oil, Gas & Metals National Corporation (JOGMEC)
Juan Carlos Zuleta
Kay Investment Ltd
Keith Evans
Lanxess Deutschland GmbH
Leverton Clarke
LG International
Limtech Technologies Inc
Lithea Inc
Lithium Americas Corp
Lithium Corporation
Lithium One Inc
Lomiko Metals Inc
MAC Equipment Inc
Marubeni Corporation
Matamec Explorations Inc
MDB Capital
Minerales Industriales Tubutama
Mitsubishi Corporation
Mitsubishi Corporation Unimetals
Mitsubishi International Corp
Mitsui & Co (USA) Inc
Mitsui & Co Canada Ltd
Mitsui & Co Ltd
MRC Corp
Nation-E AG
Netzsch-Condux Mahltechnik GmbH
New World Resource Corp
Nordic Mining ASA
North Arrow Minerals Inc
Orocobre Ltd
Owens Corning Co
Pan American Lithium
Panasonic Corporation
Peter W Harben Inc
Pinetree Capital Ltd
Plug in America
Popular Science
Portal Capital LLC
PowerOne Capital Markets
Prince Minerals
Reed Resources Ltd
Renault SAS
Rincon Lithium Ltd
Rio Tinto
Rio Tinto Minerals
Rodinia Minerals
Roskill Information Services Ltd
Salares Lithium Inc
SGS Minerals Services
Simbol Mining Corp
Small Ventures USA
Sojitz Corporation of America
Solmax International
Stephens Investment Management
Sumitomo Corporation
Talison Lithium Limited
Tata Chemicals Ltd
The Doe Run Co
TNR Gold Corporation
Total SA
Toyo Chemicals Co Ltd
Toyota Tsusho Corporation
URS Corporation
US Geological Survey
Ward Chemical Inc
Western Lithium Corporation