EV Market Set to Begin Exponential Growth Phase
Vancouver, B.C., July 16, 2019 (GLOBE NEWSWIRE) -- July 16, 2019 - Lomiko Metals Inc. (TSX-V: LMR, OTC: LMRMF, FSE: DH8C) (Lomiko or the “Company”) has been keenly watching the lithium-ion battery market in anticipation of identifying an opportunity to participate in the supply of materials for electric vehicles with its La Loutre graphite project located in Quebec, Canada. Lomiko is focused on advancing the La Loutre graphite property and is looking to deliver a NI 43-101 graphite resource based on the success of its recently completed drilling campaign at the Refractory Zone. This will add to the previously announced 43-101 graphite resource at the adjacent Graphene-Battery zone announced March, 2016.
A. Paul Gill, CEO states, “Lomiko believes that it is in an ideal position to participate in the burgeoning Electric Vehicle market, with the potential to become a North American supplier of graphite materials, a market currently dominated by foreign supply from China. Graphite is a major and critical material in the manufacture of lithium-ion and other batteries, specifically battery anodes”.
According to Benchmark Minerals, graphite anode demand is set to increase from 194,160 tonnes in 2017 to 1,080,360 tonnes by 2023 and 1,747,800 tonnes by 2028. [Source: INN Graphite Investing News]
On February 4, 2019, Simon Moores of Benchmark Mineral Intelligence raised supply and demand concerns in a submission to the US Senate which was echoed by Energy and Natural Resource Committee Chair Senator Lisa Murkowski in a February 5, 2019 News Release: “In contrast to the energy sector, our nation is headed in the wrong direction on mineral imports. This is our Achilles’ heel that serves to empower and enrich other nations, while costing us jobs and international competitiveness,” Murkowski said. Lomiko brought this crucial opportunity to the attention of shareholders in a February 8, 2019.
Recent announcements and cooperation agreements on electric vehicle and self-driving cars between Ford and Volkswagen indicate automakers are taking action to put millions of electric vehicles on the road. Raw material demand for graphite, lithium and nickel sourced from North American is likely to increase as a result. Ford said its battery electric vehicle rollout will start in 2020 with a performance utility, and it plans to launch 16 battery electric vehicles by 2022.
In other positive developments, Quebec Premier Francois Legault reiterated his commitment to make the Province the ‘Green Battery’ of North America through investments in electric buses and trams while British Columbia Premier John Horgan aims to eliminate all gas-powered cars by 2040.
For more information on Lomiko Metals, review the website at www.lomiko.com, contact A. Paul Gill at 604-729-5312 or email: info@lomiko.com.
On Behalf of the Board,
“A. Paul Gill”
Chief Executive Officer
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) accept responsibility for the adequacy or accuracy of this release
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