TM editors' note: This article discusses a penny stock and/or microcap. Such stocks are easily manipulated; do your own careful due diligence.
Two months ago I interviewed Dwayne Melrose, Director & Chair of the Technical Committee for LiCo Energy Metals [TSX-V: LIC / OTCQB: WCTXF]. Since then there has been a number of noteworthy press releases, and the Cobalt price continues to rise. In addition, Bearing Lithium’s 17.7% pro forma interest in a Chilean Maricunga project (a ~4,400 hectare project valued by the market at about C$280 M) is getting a major mineral resource upgrade this month, and a rumor that a Chinese PE firm might acquire up to 20% of NYSE: SQM sent Wealth Minerals’ shares up ~10% on July 5th.
Here’s a brief recap of 3 developments at LiCo from just the past 3 weeks….
As of June 22nd, Greg Reimer joined LiCo’s Advisory Board. Greg is EVP of BC Hydro’s Transmission & Distribution Network. BC Hydro is Canada’s 3rd largest Electric Utility with over 4 M customers and $5.7 billion in revenue. {See press release}
In a press release dated June 28th, LiCo announced that, in conjunction with the Purickuta project, it’s opening an exploration & development office in Santiago, Chile.
On July 5th, positive geophysical results were reported,
“Beneath the surface crust is detected a conductive unit with values of resistivity less than 1 ohm-m, (interpreted as brines) divided into 2 sub units; a high-conductivity saturated unit (0.4 to 0.9 ohm-m) 6.3 to 22 meters thick, and a very high-conductivity saturated unit (0.2 to 0.4 ohm-m) detected at two depths, the first under the saline crust with thickness of 3 and 7 m, then again under the unit of high-conductivity with a thickness of 100 m, not detecting the floor of this stratum,” (meaning beyond the detective depth capacity of the TEM survey).
Disclosure: The content of this article is for information purposes only. Readers fully understand and agree that nothing contained herein, written by Peter Epstein, about ...
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Disclosure: The content of this article is for information purposes only. Readers fully understand and agree that nothing contained herein, written by Peter Epstein, about LiCo Energy Metals, including but not limited to, commentary, opinions, views, assumptions, reported facts, calculations, etc. is to be considered, in any way whatsoever, implicit or explicit investment advice. Further, nothing contained herein is a recommendation or solicitation to buy, hold or sell any security. T he content contained herein is not directed at any individual or group. Peter Epstein and Epstein Research [ER] are not responsible, under any circumstances whatsoever, for investment actions taken by the reader. Peter Epstein and [ER] have never been, and are not currently, a registered or licensed financial advisor or broker/dealer, investment advisor, stockbroker, trader, money manager, compliance or legal officer, and they do not perform market making activities. Peter Epstein and [ER] are not directly employed by any company, group, organization, party or person. The shares of LiCo Energy Metals are highly speculative, not suitable for all investors. Readers understand and agree that investments in small cap stocks can result in a 100% loss of invested funds. It is assumed and agreed upon by readers that they will consult with their own licensed or registered financial advisors before making any investment decisions.
At the time this article was posted, Peter Epstein owned shares of LiCo Energy Metals, but neither Peter Epstein nor Epstein Research have any prior or existing relationship with any person or company mentioned in this article. Readers understand and agree that they must conduct their own due diligence above and beyond reading this article. While the author believes he’s diligent in screening out companies that, for any reasons whatsoever, are unattractive investment opportunities, he cannot guarantee that his efforts will (or have been) successful. Mr. Epstein & [ER] are not responsible for any perceived, or actual, errors including, but not limited to, commentary, opinions, views, assumptions, reported facts & financial calculations, or for the completeness of this article or future content. Mr. Epstein & [ER] are not expected or required to subsequently follow or cover events & news, or write about any particular company or topic. Mr. Epstein and [ER] are not experts in any company, industry sector or investment topic.
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