SPONSOR: New Age Metals Inc. The company’s Lithium Division has already made significant acquisitions in Canada and the USA. The company also owns one of North America’s largest primary platinum group metals deposit in Sudbury, Canada. Updated NI 43-101 Mineral Resource Estimate 2,867,000 PdEq Measured and Indicated Ounces, with an additional 1,059,000 PdEq Ounces in the Inferred. Learn More.

Europe EVs now use 57% more lithium carbonate equivalent

• Changing mix of EV sales is most noticeable in Europe where the average battery in new passenger EVs sold in September contained 15.8kg of LCE
• Constitutes a 57% surge compared to last year, thanks in no small part to the popularity of the Tesla Model 3 on the continent

CItroën e-Méhari. Batteries for the electric SUV are produced in France. Image: PSA Group

By: Frik Els

Electric car pioneer Tesla is already producing units on a trial basis at its giant Shanghai gigafactory despite only breaking ground this year, but thanks to changes to the Chinese EV subsidy program, demand for locally-made Teslas may fall short of expectations.

On Monday, China’s automobile manufacturing industry body said fewer new energy vehicles, or NEVs as they are termed domestically, could be sold this year than in 2018 (last year sales boomed by more than 60%).

Sales of NEVs – which apart from battery-powered vehicles also include hybrids and fuel cell cars – fell by more than 45% in October from the same month last year, adding to the woes of an industry coping with 16 straight months of declining overall sales.

Changes to China’s EV incentive program favour hybrids so lithium loads may start to tend downwards in that country too

Adamas Intelligence tracks the battery capacity (and the metals used in them) of electric vehicles sold around the world and the slowdown in the EV market, where lithium-ion batteries dominate, has already showed up in raw material deployment data.

In September 2019, the average new passenger EV including plug-in and conventional hybrids sold globally contained 12.2 kilograms of lithium carbonate equivalent (LCE), a modest increase of 4% over 2018, according to the latest Adamas report.

The Toronto-based research company’s data shows China still outstripped global growth in September with a 7% increase in LCE on a per-EV basis, reaching a sales-weighted average of just shy of 20kg thanks to the prevalence of full electric models in the country.

That’s in stark contrast to Japan, where hybrids represent more than 90% of EV sales and average batteries contain only 1.1kg of LCE. Changes to China’s EV incentive program favour hybrids so lithium loads may start to tend downwards in that country too.

The changing mix of EV sales is most noticeable in Europe where the average battery in new passenger EVs sold in September contained 15.8kg of LCE.

That constitutes a 57% surge compared to last year, thanks in no small part to the popularity of the Tesla Model 3 on the continent. Teslas have always had bigger batteries than competitor cars to help with fast-charging and range.

In the US the trend is in the opposite direction – with passenger EVs leaving showrooms containing on average 15.2kg of LCE, 12% less than in September 2018.

Source: https://www.mining.com/lithium-price-europe-evs-now-use-57-more-lce/

• A drill permit has been issued by the Manitoba government for a drill program on the company’s Lithium Two Project.
• NAM has 100% ownership of eight pegmatite hosted Lithium and Rare Element Projects in the Winnipeg River Pegmatite Field, located in southeast (SE) Manitoba.
• Exploration in SE Manitoba is focused on Lithium-bearing pegmatites.
• Archaeological Assessment in progress on Lithium One as part of the drill permit process.
• The eight projects are strategically situated within the Winnipeg River Pegmatite Field, which hosts the world-class Tanco Pegmatite that has been mined for Tantalum, Cesium and Spodumene (one of the primary Lithium minerals) in varying capacities, since 1969.
• NAM management is finalizing a plan for a 1,500-metre drill program on Lithium Two.

October 30th, 2019 – Rockport, Canada – New Age Metals Inc. (NAM) (TSX.V: NAM; OTCQB: NMTLF; FSE: P7J) New Age Metals is pleased to announce that a drill permit has been issued to the company’s wholly owned subsidiary, Lithium Canada Development by the Manitoba government for the company’s Lithium Two Project located in the Cat Lake area of southeast (SE) Manitoba.

The Winnipeg River Pegmatite Field

The Winnipeg River-Cat Lake Pegmatite Field in SE Manitoba is host to numerous pegmatite deposits and contains the world-class Tanco Pegmatite. The Tanco pegmatite has been mined since 1969 in varying capacities for spodumene (Li rich mineral), Tantalum and Cesium. The pegmatite field contains at least 10 pegmatite groups and hosts hundreds of pegmatite bodies. Many of the pegmatites are lithium bearing.

The Tanco Mine, which was owned by the Cabot Corporation, was recently sold to Sinomine Rare Metals Resources Co. Ltd. (Sinomine) at a purchase price of $130 million ($US). Sinomine is a joint stock public company based in China, principally engaged in the provision of geological exploration, mining investment and base metal chemical manufacturing. This transaction certainly adds new interest in the region as to the potential of the pegmatite field and lithium and/or rare element potential in the area. This sale should advance the Lithium production potential of the area as Lithium Ore feed may be required in the event that Sinomine commences lithium production.

Lithium Two Project

The Lithium Two Project is located approximately 20 kilometres north of the Tanco Mine and is an active area for Lithium exploration. Several companies are active in the immediate region, exploring for Lithium.

Surface exploration was carried out on the Lithium Two Project during the summer of 2018 (see News Release October 30^th, 2018). The exploration work was designed to examine the known surface pegmatites to aid in the determination of drill targets. The field program also focussed on more detailed structural geological mapping and mapping of the westward extent of the Eagle Pegmatite. The Lithium Two Project has several historically known Spodumene bearing pegmatites (see Figure 2).

Click Image To View Full Size

Figure 1: Manitoba Lithium and Rare Element Projects 2019

The Eagle Pegmatite was drilled in 1947 with a historic (non 43-101 compliant) tonnage estimate of 544,460 tonnes with a grade of 1.4% Li2O to the 61-metre level. These historical estimates do not use categories that conform to current CIM Definition Standards on Mineral Resources and Mineral Reserves as outlined in National Instrument 43-101, Standards of Disclosure for Mineral Projects (“NI 43-101”) and have not been redefined to conform to current CIM Definition Standards. A qualified person has not done sufficient work to classify the historical estimates as current mineral resources and the Company is not treating the historical estimates as current mineral resources. Investors are cautioned that the historical estimates do not mean or imply that economic deposits exist on the properties. The Company has not undertaken any independent investigation of the historical estimates or other information contained in this press release nor has it independently analyzed the results of the previous exploration work in order to verify the accuracy of the information. The Company believes that these historical estimates and other information contained in this news release are relevant to continuing exploration on the properties as it identifies significant mineralization that will be the target of future exploration and development.

The Eagle Pegmatite was historically reported to remain open to depth. The FD5 Pegmatite, located east of the Eagle Pegmatite has never been drilled. Historic assessment reports revealed a Spodumene bearing pegmatite drilled in the late 1940’s, located approximately 500 metres southeast of the Eagle Pegmatite but is not exposed on surface. No assays were provided in the report at the time. This pegmatite, as well as the Eagle and FD5, will be tested during an upcoming recommended drill program.

Click Image To View Full Size

Figure 2: 2018 Lithium Assays at the Lithium Two Project, SE Manitoba

The Eagle Pegmatite has been mapped on surface for over 850 metres and has surface assays of 0.1 to 3.8% Li2O. The FD5 pegmatite had surface assays from 0.1 to 3.3% Li2O. In geological terms, the pegmatites encountered on the Lithium Two Project are LCT Type (Lithium-Cesium-Tantalum) Pegmatites and are in the Albite-Spodumene Subgroup. Spodumene is expressed in the pegmatites as small green blades up to 3 centimetres in length. The Eagle Pegmatite is a west-northwest to west-striking, vertically dipping, lenticular pegmatite dyke intruded into mafic volcanics. The widths of the pegmatite have been measured to be between 2 to 10 metres. The Eagle Pegmatite system appears to be a swarm of closely spaced pegmatite bodies.

Phase 1 Drill Program Planning in Progress

A drill program of 1,500 metres is planned to test three spodumene bearing pegmatite targets. A drill permit has recently been issued by the Manitoba government.

Lithium One Drill Program

Recently, NAM engaged White Spruce Archaeology as part of its Exploration Agreement with the Sagkeeng First Nation to conduct an archaeological assessment on the proposed drill sites for Lithium One as part of the drill permitting process. The assessment was completed in October and the report is pending. A 1,500 metre drill program is planned to test targets on the Silverleaf pegmatite ( News Release Sept 27, 1018) situated in the Lithium One project area.

NAM/AAZ Property Option Update

JV partner Azincourt Energy (AAZ) and NAM are in discussions regarding AAZ’s compliance for its contractual obligations as part of the option agreement with NAM. NAM and AAZ are in continuing talks regarding a revision to the existing option agreement or termination.

OPT-IN LIST

If you have not done so already, we encourage you to sign up on our website (www.newagemetals.com) to receive our updated news.

ABOUT NAM’S PGM DIVISION

NAM’s flagship project is its 100% owned River Valley PGM Project (NAM Website – River Valley Project) in the Sudbury Mining District of Northern Ontario (100 km east of Sudbury, Ontario). Recently the company announced the results of the first PEA (see News Release – June 27^th, 2019) completed on the River Valley Project. The PEA has been developed by various independent consultants – P&E Mining Consultants Inc. (P&E) was responsible for the open pit mining, surface infrastructure, tailings facility, and project economics; DRA Americas Inc. (“DRA”) was responsible for all metallurgical test work and processing aspects of the Project; and WSP Canada Inc. (“WSP”) was responsible for the Mineral Resource Estimate. The PEA is a preliminary report but it has demonstrated that there are positive economics for a large-scale mining open pit operation, with 14 years of Palladium and Platinum production.

The Genesis project is a PGM-Cu-Ni property located in the northeastern Chugach Mountains, 75 paved road miles north of the all-season port city of Valdez, Alaska. The project is within 3 km of the all-season paved Richardson Highway and a high capacity electric power line. The project is covered by 4,144 hectares of State of Alaska mining claims owned 100% by New Age Metals. Past exploration has revealed the presence of chromite-associated platinum and palladium mineralization and stratabound Ni-Cu-PGM mineralization within magmatic layers of the Tonsina Ultramafic Complex. Pyrrhotite, pentlandite, and chalcopyrite occur in disseminations and net textured segregations associated with platinum and palladium sulfides. There has been limited exploration over the Genesis project and there has been no past exploration drilling on the project. NAM management is actively seeking an option/joint-venture partner for this road accessible PGM and Multiple Element Project.

QUALIFIED PERSON

The contents contained herein that relate to exploration results or geological aspects is based on information compiled, reviewed or prepared by Carey Galeschuk, P. Geo., a consulting geoscientist for New Age Metals. Mr. Galeschuk is the Qualified Person as defined by National Instrument 43-101 and has reviewed and approved the technical content of this news release.

On behalf of the Board of Directors

“Harry Barr”

Harry G. Barr

Chairman and CEO

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Cautionary Note Regarding Forward Looking Statements: This release contains forward-looking statements that involve risks and uncertainties. These statements may differ materially from actual future events or results and are based on current expectations or beliefs. For this purpose, statements of historical fact may be deemed to be forward-looking statements. In addition, forward-looking statements include statements in which the Company uses words such as “continue”, “efforts”, “expect”, “believe”, “anticipate”, “confident”, “intend”, “strategy”, “plan”, “will”, “estimate”, “project”, “goal”, “target”, “prospects”, “optimistic” or similar expressions. These statements by their nature involve risks and uncertainties, and actual results may differ materially depending on a variety of important factors, including, among others, the Company’s ability and continuation of efforts to timely and completely make available adequate current public information, additional or different regulatory and legal requirements and restrictions that may be imposed, and other factors as may be discussed in the documents filed by the Company on SEDAR (www.sedar.com), including the most recent reports that identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. The Company does not undertake any obligation to review or confirm analysts’ expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Investors should not place undue reliance on forward-looking statements.

SPONSOR: New Age Metals Inc. The company’s Lithium Division has already made significant acquisitions in Canada and the USA. The company also owns one of North America’s largest primary platinum group metals deposit in Sudbury, Canada. Updated NI 43-101 Mineral Resource Estimate 2,867,000 PdEq Measured and Indicated Ounces, with an additional 1,059,000 PdEq Ounces in the Inferred. Learn More.

There’s no end in sight for soaring palladium prices, bodes well for North America’s Largest Undeveloped PGM deposit

With stocks running low, it is difficult to see where further supplies will come from.  

By: Neil Hume

For nearly 30 years, UK crime-fighting show Police 5 urged members of the public to stay vigilant with the catchphrase “Keep ’em peeled”. It is advice car owners in London might want to consider, especially if they own hybrid vehicles such as the Toyota Prius or Lexus 400.

Looking to profit from soaring palladium prices — which hit a record high above $1,700 an ounce this week — thieves in the UK capital have stolen nearly 2,900 catalytic converters in the first six months of the year, up from 1,674 in the whole of 2018, according to data from the Metropolitan Police.

The market-savvy car thieves typically target hybrids because their catalysts contain more metal. They then sell the devices to illegal scrap dealers for cash. In spite of a collapse in global car sales this year, the metal’s price has risen more than 30 per cent in 2019 to a level far above its long-term average, catching many analysts and investors by surprise. The average price for palladium since 1994, unadjusted for inflation, is just $500 an ounce.

One reason for this apparent paradox is China, where there has been increased demand for palladium ahead of the introduction of a nationwide emissions standard in 2020. Another reason is that stocks are running low. And with few platinum or nickel projects under development, the 7m ounces-a-year palladium market is set to remain tight unless there is an unexpected release of supplies. Yet it is difficult to see where these supplies might come from. Russia’s Norilsk Nickel, the world’s largest producer, raised doubts last week about its ability to replenish its Global Palladium Fund.

Established in 2016, the fund helps stabilise the market, buying metal from various sources, including Russia’s central bank, and selling it to industrial customers. However, analysts believe that Moscow’s strategic stockpile of palladium — a key source of supply — is close to being exhausted, while other holders are reluctant to sell because they expect higher prices. So is there anything that can bring palladium back to earth?

A global recession would certainly hit prices as would a switch by carmakers from palladium to platinum, which is almost $800 an ounce cheaper. For the moment, that looks unlikely because the car industry is treading warily with new catalyst technology in the wake of the Volkswagen emissions scandal. But that could change. One of the oldest sayings in commodity markets is that the cure for high prices is high prices and, as BMO Capital Markets notes, it is rare for any commodity to remain this far above its long-term average for so long.

Source: https://www.ft.com/content/5ac67390-e424-11e9-b112-9624ec9edc59

SPONSOR: New Age Metals Inc. The company’s Lithium Division has already made significant acquisitions in Canada and the USA. The company also owns one of North America’s largest primary platinum group metals deposit in Sudbury, Canada. Updated NI 43-101 Mineral Resource Estimate 2,867,000 PdEq Measured and Indicated Ounces, with an additional 1,059,000 PdEq Ounces in the Inferred. Learn More.

New Research Promises Electric Car Batteries That Last For a Million Miles

• Power cells used in electric vehicles, like Teslas, have an expected lifespan of around 300,000 to 500,000 miles,
• A team of battery researchers believes it has come up with a recipe that can double that, leading to batteries that could potentially outlast the electric car itself.

By: Andrew Liszewski

Electric motors guzzle electricity, which can be especially hard on a rechargeable battery. The power cells used in electric vehicles, like Teslas, have an expected lifespan of around 300,000 to 500,000 miles, but a team of battery researchers believes it has come up with a recipe that can double that, leading to batteries that could potentially outlast the electric car itself.

In a paper published in the The Journal of the Electrochemical Society earlier this month, battery researchers from Halifax, Nova Scotia’s Dalhousie University describe a new lithium-ion battery that could potentially power an electric vehicle for over one million miles and over 4,000 charging cycles while only losing about 10 percent of its charging capacity (and vehicle range) as it reaches the end of its lifespan. Most drivers upgrade their rides well before the odometer rolls over to one million, but the new battery tech could be especially useful in vehicles that are on the road around the clock like taxis, shuttles, and even delivery trucks.

Like the ingredients of a fast-food chain’s “special sauce,” the chemical makeup of batteries, which governs how well they perform and how long they last, are usually a closely guarded secret. Since 2016, the Dalhousie team has actually been conducting its research on improving lithium-ion batteries exclusively for Tesla, but this paper divulges exactly how they came up with a recipe for a million-mile electric car battery by optimizing all of the ingredients, which includes artificial graphite, and then improving the nanostructure of the lithium nickel manganese cobalt oxide to create a crystal structure that’s less likely to crack and degrade performance. The exact recipe allows all of Tesla’s competitors to improve their own battery tech, so what’s going on?

According to Wired, who spoke to former researchers who worked in the Dalhousie lab, by publishing the most important details of this research, it provides a new performance benchmark for all of the other R&D labs working on improving battery tech, so, ideally, a million miles of battery life is just the beginning. But Elon Musk is not one to simply give away valuable research without a backup plan, and as Wired points out, just days after this paper was published, Tesla was awarded a patent for a new electric vehicle battery featuring nearly the exact same chemical makeup as the ones detailed in the research paper. One of the inventors listed in the new patent was physicist Jeff Dahn, who just so happens to lead Dalhousie University’s battery lab.

The exact details of Tesla’s newly patented lithium-ion battery aren’t known, but former researchers who worked alongside Dahn believe there’s a very good chance it already outperforms the battery detailed in the research paper. It’s also unknown when Tesla would put the new battery into production, but there will undoubtedly be plenty of fanfare when Musk officially debuts it to the world.

Source: https://gizmodo.com/new-research-promises-electric-car-batteries-that-last-1838357663

SPONSOR:

• Company hosts North America’s largest primary PGM deposit
• Updated NI 43-101 Mineral Resource Estimate of 2,867,000 PdEq Measured and Indicated Ounces, with an additional 1,059,000 PdEq Ounces Inferred

Read More

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• After hitting new all-time highs, palladium might be ready for even more gains, with some analysts pointing to the $1,700 level as a reality
• Spot palladium reached a new record high of $1,664.34 early on Monday. Palladium’s December futures also hit a new record high, touching $1,642.90 an ounce level
• At the time of writing, December futures were at $1,631.10, up 0.38% on the day

By: Anna Golubova

(Kitco News) – After hitting new all-time highs, palladium might be ready for even more gains, with some analysts pointing to the $1,700 level as a reality.

Spot palladium reached a new record high of $1,664.34 early on Monday. Palladium’s December futures also hit a new record high, touching $1,642.90 an ounce level. At the time of writing, December futures were at $1,631.10, up 0.38% on the day.

Higher gold prices, rising on rising Middle East tensions and a breakdown in the U.S.-China trade talks, have also been helping palladium, analysts said.

“Palladium’s move higher is very much a correlation to gold. Gold moved up quite nicely on Monday. Also, we had a silver rally as well as platinum. Palladium followed suit. The precious metals moved higher most likely on mentions from Fed officials of potentially more interest rate cuts,” head of global strategy at TD Securities Bart Melek said on Monday.

December Comex gold futures were last at $1,530.80, up 1.04% on the day, December silver was at $18.68, up 4.66% on the day, and October platinum was at $959.70, up 1.17% on the day.

On Monday, markets were digesting the U.S. decision to send more troops to the Gulf region following the drone attacks on Saudi Arabia’s oil facilities on September 14. This came almost immediately after the U.S. imposed sanctions on Iran, including the country’s central bank on Friday.

Other significant precious metals drivers have been U.S. President Donald Trump’s statement on Friday that he is not interested in just a partial deal with China and Chinese officials proceeding to cancel their visit to U.S. farmers.

Healthy demand

Palladium has also been supported by healthy demand, limited supply, higher equities and liquidity concerns, according to UBS strategist Joni Teves.

“The combination of healthy demand, constrained supply, and challenging liquidity conditions is likely driving prices higher here. Our understanding is that there were some additional supplies earlier in the year mainly from release in pipeline stocks, which likely drove the easing in forwards in H1. But still-healthy demand implies that those stocks should have been well absorbed,” Teves wrote on Monday.

The new high surged past palladium’s significant resistance barrier of $1,620, which means more upside, including $1,700 is possible, said Commerzbank AG commodity analyst Carsten Fritsch.

“It already exceeded the zone of massive resistance at 1,600/1,620 on Friday, opening up scope for a further rise to $1,700. There has been no evidence of late of any significant investor interest in palladium. Net long positions have climbed only marginally, while ETF holdings have remained at a low level,” Fritsch wrote.

Downside risks

Some downside risks remain for palladium this year, including the unresolved U.S.-China trade war.

“A breakdown of U.S.-China trade talks, deterioration in economic data and a pullback in equities from the highs, therefore, presents downside risks for palladium over the remainder of the year. The rally to all-time-high palladium prices might attract some short positions in the near term, especially considering how low gross shorts are at the moment – only 25% of the record,” Teves explained.

BofA Merrill Lynch also sees a high probability of a cool down in the rally based on subsiding “fear in physical markets.”

“Assets under management at ETFs have now stabilized, suggesting that the immediate need and willingness of market participants to tap these vehicles has been limited. While fundamentals remain solid … all this suggests that the rally especially of palladium may pause here,” BofA Merrill Lynch wrote in a note in September.

Source: https://www.kitco.com/news/2019-09-23/Palladium-hits-record-highs-is-1-700-next.html