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Phoenix, Arizona--(Newsfile Corp. - May 18, 2021) - The Stock Day Podcast welcomed Lomiko Metals Inc. (OTCQB: LMRMF) ("the Company"), a company that has discovered high-grade graphite at its La Loutre Property in Quebec and is now working towards a Pre-Economic Assessment. CEO of the Company, A. Paul Gill, joined Stock Day host Everett Jolly.
Jolly began the interview by asking about the Company's background and current projects. Gill elaborated on his experience in the battery metals space, including a successful copper project. "In 2009, we introduced Lomiko as a company focused on the green economy," shared Gill. "Our goal was to explore for lithium and graphite. Now we are at the point where we are developing a graphite mine and have also optioned a lithium property."
"Could you provide an update on the La Loutre project?", asked Jolly. "We have been exploring that since 2016 and have drilled over 150 drill holes in an effort to define an economic deposit," said Gill. "2020 was a tough year with COVID, but we did end up getting funding towards the end of the year," he continued, adding that the Company has had metallurgic testing completed on the site. "Now we're marching towards a preliminary economic assessment (PEA), which is an important document for mining companies because it tells us what the potential valuation of the company is at that time," said Gill. "That will de-risk the project and give us a clear runway towards production."
"Why is graphite so important right now?", asked Jolly. "It is vitally important because this is a material that goes into electric vehicle batteries," explained Gill. "The cathodes of Lithium-ion batteries are made out of lithium, cobalt, and nickel, but what is not known is that the entire anode of the battery is actually graphite," said Gill. "Demand is up and when demand is up prices will follow as well."
"Is that one of the reasons behind the Bourier Lithium project?", asked Jolly. "We want to have both sides of that battery under potential development," said Gill, adding that the early-stage project may also include nickel targets. "The most exciting thing is that it is a volcanic massive sulfide (VMS) system which is over fifteen miles long."
"The Bourier project is located in the James Bay region of Quebec," continued Gill. "It happens to be a very prospective area in which we call the Lithium Triangle North, so there are a number of projects that already have feasibility studies on them," he shared. "It's a really exciting area to be in."
Jolly then asked about the Company's technology company, Promethieus. "Promethieus ecompasses several prospective technology developments ," said Gill. "Lomiko will retain a 20% ownership of Promethieus which will add value to Lomiko's bottom line," he added. "Prometheus will become a technology incubator and be able to fund technology companies and watch them grow to IPO and get a return on investment."
"How does your company's balance sheet look going forward?", asked Jolly. "We just put out our second quarter results," said Gill. "We have $3.5 million Canadian in the till right now. If we see warrant exercises, we could see another $5 million coming in over the next year," he shared. "We're really happy with the situation. We've done well, and part of that will pay for our Pre-Economic Assessment (PEA)."
To close the interview, Gill encouraged listeners and shareholders to consider the potential of the electric vehicle (EV) market as it continues to revolutionize the transportation and technology industries. "It is an opportunity happening now. We want people to watch what we are doing and participate if they can," closed Gill.
To hear A. Paul Gill's entire interview, follow the link to the podcast here: https://audioboom.com/posts/7868799-lomiko-metals-inc-discusses-progress-of-la-loutre-graphite-project-and-bourier-lithium-project-w.
About Lomiko Metals Inc.
Lomiko Metals Inc. discovered high-grade graphite at its La Loutre Property in Quebec and is now working towards a Pre-Economic Assessment that will increase its current indicated resource of 4.1 Mt of 6.5% Cg.
On Behalf of the Board,
"A. Paul Gill"
Chief Executive Officer
We seek safe harbor. Neither 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
View source version on businesswire.com: https://www.businesswire.com/news/home/20210304005334/en/
A. Paul Gill, 604-729-5312
About The "Stock Day" Podcast
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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/84419