Sign up Australia
Proactive Investors - Run By Investors For Investors

Leading Edge riding the electric car wave with encouraging Woxna tests

Graphite is also a component in lithium-ion batteries used in electric cars
Leading Edge riding the electric car wave with encouraging Woxna tests
On the road ... Leading Edge is delighted with its latest set of battery tests

Leading Edge Materials Corp (CVE:LEM) this year certainly seems to be delivering on its aim to supply materials vital for a low carbon energy world - not least the batteries used in electric vehicles.

If a firm could be said to be 'on trend', then surely this is one....

Elon Musk's baby Tesla (NASDAQ:TSLA) is never far from the news and with its market cap surpassing first Ford’s (NYSE:F) and then General Motors’ (NYSE:GM) last month, talk of electric vehicles supplanting  gasoline-powered peers has grown louder than ever.

A Tesla buzz..

That Tesla buzz centres generally around lithium, but notably  such batteries contain more graphite than they do the other, and, as well as cars, are used in all sorts from smart phones to solar panels.

Leading Edge Materials (CVE:LEM) has now, in the second set of encouraging battery test results this year, revealed that material from its Woxna mine in Sweden has been used to make a  18650 lithium-ion battery cells and performed well.

Such batteries are equivalent to those used in Tesla (NASDAQ:TSLA) electric vehicles and the firm said results were 'strong and consistent', shwoing they could be used to create a long battery life - vital in such vehicles.

At the Woxna mine, the firm usefully has 100 tons of material stored and available for further testing. Testing is a vital part of development such resource technology and  is likely to  go on for at least six to 12 months more, according to LEM.

The firm is encouraged by the growing demand for lithium-ion batteries, and is ready to supply potential new gigafactories in Europe (like Tesla's in Nevada),  and it is in the right place to do so - in Scandinavia.

At the end of April, the firm announced a $2mln investment, secured from a select group of strategic European investors who are active in the development of European electro-mobility and green energy storage markets.

Leading Edge says it's the only western producer of natural flake graphite with a fully constructed, permitted and producing plant (100,000-tonne-per-annum feed producing 10,000 tons of over 90%  graphite concentrate).

The Woxna plant was on care and maintenance when the firm bought it in 2011 and operations restarted in 2015 using freshly mined material but falling prices for flake graphite and a downturn in the sector meant operations stopped.

The plant is now on what's called a production-ready basis while higher value graphite products are developed and will not restart until market conditions improves.

And there's also lithium potential with Bergby

In October last year, the firm's geologists also discovered its first lithium project called  Bergby. Fifteen samples taken from three outcrop areas returned lithium oxide averaging 1.71% and ranging from 0.01% to 4.6%.

And a first program of drilling high lithium grades at a very shallow depth, placing Bergby as a leading lithium project in the Nordic region, the firm said.

Recent drill results have been highly encouraging. In the latest set of assays, boss Way told investors: "Mineralization has been discovered in every drill hole to date, and we look forward to advancing the prospect quickly from here. In addition to lithium, regular elevated grades of tantalum are also being discovered."

Bergby lies in central Sweden, 25km north of the town of Gavle, and has major roads, rail and power supply passing immediately adjacent to the claim boundaries.

And now Rotmyran...

And earlier this year, LEM said it was expanding its footprint in Sweden further,  staking a new lithium project called the Rotmyran project.

The project lies 20 kilometres north of Bergby and was selected as a high priority target based on the geological similarity to Bergby plus presence of a strong tin (Sn) - lithium (Li) till anomaly in Swedish Geological Survey data.

Leading Edge shares in Toronto rose 1.75% to stand at 58 cents on the day. 



Giles_55af4ddca6481.jpg


Register here to be notified of future LEM Company articles
View full LEM profile View Profile

Leading Edge Materials Corp Timeline

Related Articles

Great Boulder Resources' Stefan Murphy at the Proactive's CEO Sessions
September 15 2017
Stefan Murphy discussed the highly anticipated Mt Venn next steps at Proactive's CEO Sessions.
copper mine
October 17 2017
With heavyweight supporters, the best ground in country and new cash in the bank, Kincora looks very well positioned
picture of gold pour
June 30 2017
Ironridge thinks its portfolio, which sits on the prolific Wa-Lawra shear in the north-east of the country, has “company making potential”.

No investment advice

The information on this Site is of a general nature only. It does not take your specific needs or circumstances into consideration, so you should look at your own financial position, objectives and requirements and seek financial advice before making any financial decisions. You acknowledge and understand that neither the Company, its related bodies corporate, the information providers or their affiliates will advise you personally about the nature, potential value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter. You should read our FSG and any other relevant disclosure documents and if necessary seek persona advice prior to making any investment decision.

You understand and agree that no Content (as defined below) published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person.

You understand that in certain circumstances the Company, its related bodies corporate, the information providers or their affiliates may have received, or be entitled to receive, financial or other consideration in connection with promoting, and providing information about, certain entities on the Site and in communications otherwise provided to you.

You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate. From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.

Before you act on any general advice we provide, please consider whether it is appropriate for your personal circumstances.

© Proactive Investors 2017

Proactive Investors Australia PTY LTD ACN:132787654 ABN:19132787654.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use