Noram Lithium Corp Stock Price, News & Analysis

Noram Lithium Corp. has appointed Glenn Barr as Vice President of Project Development, effective immediately. Barr brings over 25 years of experience, notably from his previous role at Twin Metals Minnesota, where he oversaw complex mining project development. His expertise will be vital for advancing the Zeus Lithium Project in Nevada, characterized by significant lithium resources, including a measured and indicated estimate of 5.2 million tonnes of Lithium Carbonate Equivalent. The company is well-positioned with approximately CAD$14 million in cash and no debt as of December 31, 2022. Barr's focus will be on managing the Prefeasibility Study for the Zeus project, marking a strategic move for Noram as it aims to enhance its role in the U.S. lithium supply chain.

Noram Lithium Corp. (TSXV:NRM, OTCQB:NRVTF) has engaged Ausenco Engineering Canada Inc. to lead the Pre-Feasibility Study (PFS) for its 100% owned Zeus Lithium Project in Clayton Valley, Nevada. This collaboration follows previous work with SRK Consulting to optimize the mine plan and Kemetco Research for metallurgical testing. The PFS will be conducted in two phases: the first will assess the updated business case and trade-off studies, while the second will develop a technical report compliant with NI 43-101. Noram's CEO highlighted the significance of this milestone, noting Ausenco's strong industry reputation. The Zeus Project boasts a Measured and Indicated Resource estimate of 5.2 million tons Lithium Carbonate Equivalent (LCE), positioning Noram for growth in the electric vehicle and energy storage markets.

Noram Lithium Corp. has filed a National Instrument 43-101 technical report on its Zeus Lithium Project with no material differences from the previous estimates. The project boasts a Measured and Indicated resource of 5.2 Mt Lithium Carbonate Equivalent (LCE) and an Inferred resource of 1.1 Mt LCE. A prior Preliminary Economic Assessment indicates potential production of 31,900 tonnes of Lithium Carbonate annually, with a robust after-tax NPV of US$1.3 billion. The company is well-capitalized, holding approximately CAD$14 million in cash and no debt, positioning itself to capitalize on the growing demand for lithium in electric vehicles and energy storage.

Noram Lithium Corp. announced that all motions proposed at its 2023 Annual General Meeting on March 14 were approved. Directors re-elected include Anita Algie, Sandy MacDougall, Arthur Brown, Cyrus Driver, and Adam Falkoff. The AGM ratified a 10% Rolling Stock Option Plan and re-appointed Dale Matheson Carr-Hilton Labonte as auditors for the fiscal year ending January 31, 2024.

Noram's Zeus Lithium Project in Nevada shows a Measured and Indicated Resource of 5.2 Mt Lithium Carbonate Equivalent. A Preliminary Economic Assessment projected a net present value of US$1.3 billion with a potential mine life over 40 years.

Noram Lithium Corp. has initiated another round of metallurgical testing for its 100% owned Zeus Lithium Project in Clayton Valley, Nevada. Following the Phase VI drill program completed in May 2022, samples underwent various tests to refine lithium carbonate recovery processes. The company engaged Kemetco Research Inc. for further testing expected to take 5-6 months. The project aims to confirm the capability to recover high-purity lithium carbonate, supporting a Prefeasibility Study. Noram is well-funded with CAD$14 million in cash and no debt, focusing on advancing its lithium project amidst rising demand from the electric vehicle market.

Noram Lithium Corp. has engaged SRK Consulting to optimize the mine plan for its 100%-owned Zeus Lithium Project in Clayton Valley, Nevada. The project features a high-grade lithium zone with a volume conducive to long-term mining operations. An updated resource estimate indicates over 5.2 million tons of Lithium Carbonate Equivalent (LCE) available, supporting a mine life exceeding 100 years. A previous Preliminary Economic Assessment (PEA) suggested a capital cost of US$528 million with projected after-tax NPV of US$1.3 billion at lower lithium prices. Current prices have surged beyond US$70,000/tonne LCE, enhancing potential returns.

Noram Lithium Corp. announced a 190% increase in Measured and Indicated lithium carbonate equivalent (LCE) resources at the Zeus Lithium Project, now totaling 5.17 million tonnes LCE at a 400 ppm Li cut-off grade. Following the Phase VI drill program, Inferred resources also increased to 1.09 million tonnes LCE. The deposit is characterized by a low strip ratio of ~0.07:1 and high-grade core opportunities. The Company anticipates further project de-risking through metallurgical testing and a Prefeasibility Study in 2023. An NI 43-101 compliant technical report is expected by March 17, 2023.

Noram Lithium Corp. has bolstered its technical expertise by appointing Marcus Tomlinson as a Metallurgical Consultant and Dr. Vahid Sohrabi as a Hydrogeological Consultant. This strategic move aims to enhance the Zeus Lithium Project in Nevada, focusing on metallurgy and sustainable water supply. Tomlinson brings over 30 years of experience from companies like Goldcorp and Barrick Gold, while Sohrabi has extensive background in environmental services. The company's recent PEA indicated an After-Tax NPV of US$2.67 Billion at US$14,250/tonne Lithium Carbonate Equivalent, highlighting its potential in the growing lithium market.