Impact: Positive
E3 Lithium announced it has upgraded its resource base from 23.4Mt LCE inferred to 16.0Mt LCE M&I resources at the Bashaw District area, part of its Alberta Li-brine project. Including the Rocky area resource, this brings the company’s total resource base to 16.9Mt LCE (M&I+I). The resource size has decreased, but the confidence level of resources has increased, and the average grade remains unchanged, providing a net minor effect to our model. The 16Mt LCE M&I resource at Bashaw is bigger than the sum of all of the Li hard-rock M&I resources and Canada and remains one of the biggest lithium resources globally.