PURE ENERGY MINERA COM NPV (OTCMKTS:PEMIF) is a stock that many should start to know because of its connection to Tesla and the Bolivian lithium sector. Back in 2015, PEMIF inked a supply deal with TSLA and last month announced significant news that could boost its ability to profit from the lithium boom.
Last month, PEMIF entered into series of agreements with Lithium X Energy Corp, GeoXplor Corp., and Clayton Valley Lithium Inc. to acquire Lithium X’s interest “in 756 unpatented mineral claims covering approximately 15,000 acres” in Clayton Valley, Nevada. Under the agreements, Pure Energy would acquire three subsidiaries by issuing 20,038,182 common shares and 2,022,290 common share purchase warrants to Lithium X. Additionally, Lithium X also agreed to make an investment of $2 million. In addition, PEMIF will have the option to acquire 100% interest in 359 unpatented mineral claims across 10,000 acres in Clayton Valley.
PURE ENERGY MINERA COM NPV (OTCMKTS:PEMIF) describes itself as a company that looks to acquire, explore, and develop mineral properties. The company’s recent emphasis is as a lithium-brine resource developer that is “driven to become the lowest-cost lithium supplier for the burgeoning North American lithium battery industry.”
In addition, on the last day of the month, PEMIF put out that it had closed the previously announced transaction with Lithium X Energy Corp. The company had issued the promised 20,038,182 common shares and Lithium X also completed a $2 million strategic investment in Pure Energy.
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This first deal caused the stock to jump. 10,000 acres is quite a bit of land to seek mineral revenues. The stock jumped and still has maintained about a .04 cent increase. PEMIF’s Vice President, Walter Weinig, postulated further on the value of the contract by saying: “Lithium X has already identified lithium brine on the northern block of claims within gravels that are similar to those encountered at CV-8. This acquisition also gives us potential targets extending west of the newly discovered deep brines at CV-8. We look forward to utilizing our geophysical tools on the new northern and western claim blocks to better define the exploration targets that we can already infer. The phase 1 Preliminary Economic Assessment (PEA) expected in the next few weeks on the CVS Project is just the first step in evaluating the potential economics of these combined properties.”
Besides this news, PEMIF’s primary project includes the Clayton Valley South Lithium Brine Project located in Clayton Valley, Esmeralda County, Nevada. PEMIF was formerly known as Harmony Gold Corp. and changed its name to Pure Energy Minerals Limited in October 2012.
According to company materials, “Pure Energy is currently focused on the development of our prospective CVS Lithium Brine Project, which has the following key attributes: A large land position with excellent existing infrastructure in a first-class mining jurisdiction: Approximately 9,544 acres in three main claim groups in the southern half of Clayton Valley, Esmeralda County, Nevada; Adjacent to the only producing lithium operation in the United States (Albemarle’s Silver Peak lithium brine mine); An inferred mineral resource of 816,000 metric tonnes of Lithium Carbonate Equivalent (LCE), reported in accordance with NI 43-101; and Metallurgical and process studies underway to better understand the feasibility and economics of using modern environmentally-responsible processing technology to convert the CVS brines into high purity lithium products for new energy storage uses.”
PURE ENERGY MINERA COM NPV (OTCMKTS:PEMIF) is carrying a $28.74 million market cap and incoming news continues to push the stock up. Positive lithium news is aplenty in the market and investors continue to make gains off this stock. The Clayton Valley is going to be a key area in North American lithium supply chain. PEMIF is one stock to keep your eye on this week. For continuing coverage on shares of $PEMIF stock, as well as other hot stocks, sign up for our free newsletter today or txt OD to 25827 and get our next hot stock pick!