News Update- LIT Shuffle, New Entrants, and Famed Investors

It was another busy week in the Lithium world!  We’ve got you covered with all the latest updates in our weekly news update below.

  • Greenpower energy is halted until Wednesday pending an update on their lithium-tantalum expansion.  Further evidence of companies looking to enter the lithium space.
  • The Economist believes that 2018 will be a tipping point for EVs.  Although not from the past week, we still found it to be an interesting piece by the Economist.
  • Panasonic’s operating profit rose 6%.  This could be a positive read-through to ALB’s earnings, as Panasonic is a key customer for the lithium business.
  • Piedmont Lithium completed a $16m placement.  Funds will be used to expedite development of the company’s Piedmont Lithium Project.
  • Amid tax reform debates in the US, the current proposed plan will cut the EV tax credit.
  • Enevate announced a new 5-minute extreme fast charge battery technology!
  • Big carmakers came together to announce that they will be building 400 fast-charging stations at 120-km intervals across Europe by 2020.
  • Similarly, Chinese company Didi Chuxing announced that they will be building their own charging network.
  • Lithium Americas announced that they will be applying to list their shares on the NYSE.  This is huge news, which will bring a pure-play potential lithium producer to a US based exchange.
  • Famed investor Richard Branson discussed EVs and the lack of charging stations in the US.
  • Codelco, a Chilean company, and the world’s largest copper producer, said that 10 companies were in the running to partner with them to develop their massive lithium assets.
  • Similarly, yet another non-lithium producer entered the lithium arms race, as iron ore miner Fortescue’s CEO confirmed that the company was exploring the vast Pilbara region for Lithium.
  • The Huffington Post had a great piece on ride-hailing services and their willingness to add EVs to their fleets.  Lyft is hoping for 1 billion EV rides by 2025!
  • ICYMI: Altura Mining has been aggressively added to Global X’s LIT ETF portfolio over the past few weeks, including another 7M shares between 11/1 and 11/3.  We predicted the action as a potential catalyst for the stock in our analysis of the company.
  • ICYMI: With all of the recent changes in the holdings of Global X’s LIT ETF, we decided to take a look and analyze the portfolio.


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