March 18, 2022
E3 Metals Corp. (TSXV:ETMC, Not Rated, Koby Kushner) has added seven new members to its management team since Jan/22. The company has appointed Mr. Leigh Clarke as Director of Corporate Strategy and Sustainability. Mr. Clarke is a lawyer by training with over 30 years of experience, including 13 years as Senior VP at Altalink, LP. The other six members included technical staff (two engineers, a geologist and a lab technician), a controller, and an investor communications manager. In our view, the appointment of a dedicated Director of Strategy and Sustainability, reaffirms E3’s commitment to producing a clean, low-carbon source of lithium. It has 7Mt LCE in brines in Alberta and is aiming to extract it using direct lithium extraction (DLE) as opposed to traditional evaporation brines; the latter tends to occupy a large environmental footprint and consume heaps of freshwater. According to E3’s PEA, its 100%-owned Clearwater project is expected to be a net freshwater producer and its land use is expected to occupy a footprint equal to ~3% of the footprint occupied by traditional brine operations. The PEA also outlined potential to produce 20,000 LHM annually over 20 years with a post-tax NPV8% of US$820M and IRR of 27%. Read more
