Grid Battery Metals Inc. (OTCQB: EVKRF) stock reclaimed its bullish mood, evidenced by its price increase of over 28% since last Friday's close. The potentially better news is that breaching its 52-week highs is a viable near-term target, with the $0.12 level, about 33% higher than the current, in investors' crosshairs. And keep in mind that the run hasn't been a short-term phenomenon; this rally has shown some strong legs, which have pushed EVKRF shares higher by over 148% since June. Now, with profit-taking from that move subsiding, more likely than not, the path of least resistance for EVKRF shares is higher.
Optimism on that front is supported by this Canadian-based explorer advancing an ambitious mission to become a valuable and contributing player in the green energy sector, primarily focused for now on revenue-generating opportunities related to high-value battery metals vital to the electric vehicle (EV) market. Know this about Grid Battery Metals- they aren't just another startup looking to exploit a headline. They have a solid asset portfolio.
In other words, don't let the nanocap stock price mislead you; Grid Battery Metals could have the right properties to monetize and, as importantly, are aligned with the larger battery metals sector vision, prioritizing carbon footprint reduction, environmentally friendly exploration, and a low-overhead exploration strategy that replaces outdated and environmentally destructive exploration and development models.
Assets In Mining-Friendly Nevada Are Value Drivers
They also have the capital to expedite an ambitious 2023 exploration mission at key asset locations. The company completed a CAD $3 million private placement in June, strengthening an already impressive nanocap balance sheet showing a June treasury balance of CAD $4.38 million. That total is expected to be ample to advance its exploration initiatives for the remainder of this year. The better news is that capital will be expediting the exploration of impressive, historically rich properties that have given up plenty of the types of metals in demand.
They include historically asset-rich locations in Nevada and Canada, two of the world's most mining-friendly jurisdictions. In fact, Nevada is ranked as the 3rd best global mining jurisdiction. It's also home to the renowned Tesla Gigafactory, which produces lithium-ion batteries for its vehicles and energy storage solutions. The Gigafactory's design centers on achieving net-zero energy consumption, predominantly through solar power. By mid-2018, the factory was the highest-volume battery plant globally. But being in Nevada is more than about Tesla; it's also an excellent place for Grid Battery Metals, noting strong precedent for lithium production that dates back to 1966 at the Silver Peak Mine. Specific to Grid Battery Metal's presence, several assets are in play.
Its Texas Spring Property consists of mineral lode claims in Elko County, Nevada, with early exploration revealing a lithium clay deposit within volcanic tuff and tuffaceous sediments of the Humbolt Formation. It's located next to other proven claims, including near the southern boundary of the Nevada North Lithium Project owned by Surge Battery Metals Inc. (OTC Pink: NILIF). Initial drilling projects by Surge Battery have identified lithium-rich clay deposits with noteworthy mineralization. The Texas Spring project contains 34 full and 30 partial lode claims, showing significant potential to serve demand. Grid Battery entered into a Purchase and Sale Agreement to acquire Texas Springs Property in Nevada from Springfield Land Limited Liability on June 23, 2023, with consideration made by issuing eight million fully paid and non-assessable common shares. It officially closed the deal on July 13, 2023.
They are also exploring its Clayton Valley project, with claims adjacent to Albemarle Corporation's (NYSE: ALB) Silver Peak Lithium Project. That location matters, noting that Albemarle hosts the sole operating lithium mine in North America. The lithium reserves in Clayton Valley exist in underground aquifers as briny groundwater and in montmorillonite clays with abundant lithium content. Commencing exploration there in 2021, Grid Battery is focused on data from rock and soil sampling, trenching, and drilling programs, with concepts for a secondary lithium trap in the works. Grid Battery has noted the property has excellent potential to host Lithium brine deposits in favorable geologic horizons within the basin fill. Another possible target is lithium-enriched clay within the fill package and potentially in previous high stands of the playa. Historical data supports optimism.
A third asset, the Volt Canyon Project, is measured as a 635-hectare plot of alluvial sediments and clays positioned 122 km northeast of Tonopah, Nevada. In the regional NURE data, surface samples from this area indicated lithium concentrations up to 108 ppm Li. The lithium deposit is believed to share similarities with the clay deposits found in Clayton Valley, and importantly, the location has excellent accessibility, enabling exploration and exploitation throughout the year.
While Nevada shows tremendous promise, so do its interests in Canada.
Grid Nickel Group Project in BC Expands Opportunities
Grid Battery is exploring projects near FPX Nickel Corp.'s (OTCQB: FPOCF) Decar Project, which recently established its potentially carbon-neutral Baptiste deposit as one of the world's most robust large-scale nickel ventures. Grid Battery's Grid Nickel Group property shares geological similarities with FPX's Decar Project, featuring nickel, cobalt, and chromium. The claim also contains nickel as awaruite, initially discovered in the region in 1983.
The exploration strategy at this spot comprises several components. A Spring 2021 exploration program involved rock and soil sampling, trenching, and drill programs. From that, the company is evaluating its next possible steps, with contributions toward intent from reviewing historical data from systematic ground-based exploration on the property between 1987 and 2012 under the guidance of esteemed geologist Ursula Mowat. Future plans will be directed from insights inherent to a comprehensive analysis from Geoscience BC's QUEST-West project (2008-2009), which evaluated various activities, including geophysical surveys, stream sediment re-analyses, and data compilation.
Notably, FPX has invested over $25 million in its Decar Project. That supports the premise that they like what they see, potentially excellent news for Grid Battery, recognizing that its property is partially underlain by rocks like those hosting the Decar project. Exploiting its expected share of value again comes from Grid Battery exploring in mining-friendly jurisdictions. British Columbia is another ideal location, offering vast mineral discovery potentials, a proficient workforce, and dedicated resources for exploration and development. In fact, Canada ranked as the world's top overall mining destination by mining.com in 2023, hosting the world's largest concentration of exploration companies and mining professionals.
Furthermore, a natural nickel-iron alloy was first found in central British Columbia in 1983. Awaruite has multiple valuable qualities in the EV industry, specifically by containing little to no sulfides and not generating much acid mine drainage. It also does not require chemical reagents or acid leaching for processing, and its waste rock even has the capacity to absorb carbon. The potential of finding that asset could add another catalyst driving growth in Grid Battery Metals.
Keep this in mind about the need for nickel. Automakers are shifting towards using higher nickel chemistries in EV batteries to achieve a more sustainable energy delivery solution. Its significance has grown substantially in the context of EV batteries from its contribution to higher energy density, cost-effective storage, and extended driving ranges. Remember, too, the number of passenger vehicles on the road utilizing lithium-ion batteries is projected to reach 58% by 2050. Therefore, companies already positioned to serve that growth, like Grid Battery, should and can do better than others.
Global Demand Is Surging For Vital Battery And Green Energy Metals
That's bullish sentiment. However, EVKRF's assets do put them in a sweet spot of revenue-generating opportunity. And that position and their ability to tap into the soaring demand for battery metals from multiple sectors besides EVs, including electronics and energy storage fields, is being rewarded by market investors – evidenced by EVKRF stock holding an over 148% gain since June. Still, those gains could be the precursor to more, with investors clued into the fact that unlike many of its competitors, Grid Battery Metals is exploring the world's most mining-friendly jurisdictions that have proven to yield appreciable underground assets.
That's true for lithium, nickel, and other clean energy metals vital to powering the EV and green energy storage sectors. Remember, without the batteries to run their products, everything from electronic vehicles to industrial tools would be nothing more than shiny showroom pieces. Of course, companies like Tesla (NASDAQ: TSLA), Ford (NYSE: F), and General Motors (NYSE: GM) won't let themselves get sidelined from lacking batteries for their cars. Neither will industrial behemoths that are getting billions from infrastructure-supporting legislation.
Instead, expect manufacturers across all industries to do whatever it takes to secure an ample supply of lithium, nickel, and other metals for their needs. Tesla CEO Elon Musk has publicly stated his company's intent to explore lithium independently. However, an easier means of accomplishing his end goal of vast lithium supplies may be through a partnership with companies already in the space. In addition to supply, that strategy could be the fastest way to ensure reliable deliveries.
In the USA, permitting alone can take a decade or more to start initial exploration. Thus, it may make better sense to allocate resources to projects that can deliver the ROI intended instead of going into the exploration business looking for assets. That means partnering with companies like EVKRF, which is already in the advanced stages of exploration. Remember, proven underground assets are also immensely valuable. In other words, Grid Battery Metals doesn't necessarily need to excavate the assets; sitting on top of them is enough to drive share prices exponentially higher. Incidentally, lithium is one of the most essential elements for national security, which further adds to the Grid Battery Metals value proposition by giving it the potential to earn non-dilutive funding to expand its exploration and development operations.
Grid Battery Metals 148% Rally Could Continue
Indeed, exploring its historically mineral-rich claims in Nevada and British Columbia with a management team that's experienced in mineral exploration and development, it's fair to conclude that EVKRF is more than well-positioned to capitalize on and monetize its opportunities; they are in its best position ever to execute.
In fact, combining assets and potential, at $0.092 on Monday, Grid Battery Metals stock, despite its 148% surge since June, may still present a considerable disconnect between assets and price. Most simply said, factoring in value from Grid Battery projects near historically proven locations, having the cash to explore them, and a management team capable of exploiting their value are more than ingredients to a success recipe; they expose a value proposition that may be too good to ignore.
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