First Liberty Power Corp. Lithium Market Update
LAS VEGAS, Dec. 12, 2011 /PRNewswire/ — First Liberty Power Corp. (OTCBB:FLPC) (the “Company”) www.firstlibertypower.com would like to draw investor attention to recent positive news regarding the lithium sector.
On Dec 6th, 2011, Bloomberg (Lithium, Cobalt Among Minerals Facing Chronic Shortage, PwC Says) reported “Global manufacturers may face a critical shortage of 14 raw materials over the next five years affecting industries including chemicals, aviation and renewable energy, according to PricewaterhouseCoopers LLP.” The report, from PricewaterhouseCoopers, identified Lithium along with Beryllium, Cobalt and Tantalum as some the affected resources. The story continued quoting Malcolm Preston, PwC’s global sustainability leader: “Many businesses now recognize that we are living beyond the planet’s means.”
On Dec 5th, 2011, Talison Lithium (Talison Lithium Concludes First Sales Contracts for 2012 With 15% Price Increase) announced a 15% price increase for its first contracts for the calendar year 2012. They stated “the price increase reflects current lithium market dynamics” and “Talison is optimistic it will achieve similar price increases in the remaining sales contracts it is negotiating for calendar 2012.” The price increase by Talison follows in the steps of price increases of 20% announced earlier in 2011 by Chemetall Foote, the lithium subsidiary of Rockwood Holdings.
Don Nicholson, President and CEO of First Liberty Power Corp., commented, “The report out of PricewaterhouseCoopers along with the price increases announced by Talison and Chemetall Foote, I believe, validate our exploration strategy of targeting lithium as a critical mineral with a huge upside potential.”
First Liberty Power’s Lida Valley property (the “LVW Claims”) shares many of the same geological and weathering characteristics of nearby Chemetall Foote Corporation’s Silver Peak Mine, the only lithium brine producer in the United States. The LVW Claims are located within 15 miles of the Montezuma Peak, which is believed to be the source of the region’s lithium. Mine production comes from lithium enriched brine located below the surface. This Silver Peak plant has been in production since 1967 and is designed to produce up to 1.2 million kilograms of lithium hydroxide per annum.
First Liberty Power Corp. is a Nevada based mineral exploration company with a primary focus on lithium exploration and development in the United States. The Company is positioned to capitalize on the anticipated increase in demand for lithium carbonate that is projected to result from the acceleration of the adoption and use of clean renewable energy products that utilize lithium-ion batteries.
Notice Regarding Forward-Looking Statements
This current report contains “forward-looking statements,” as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future, including but not limited to, the final outcome Lida Valley exploration / work programs, the specific nature and extent of the next phase of our exploration program, our ability to raise the necessary capital to complete our exploration program, and any mineralization, exploration and development of our mineral properties, specifically in regards to Lithium.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the inherent uncertainties associated with mineral exploration and difficulties associated with obtaining financing on acceptable terms. We are not in control of metals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that such beliefs, plans, expectations or intentions will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the Securities and Exchange Commission.
SOURCE First Liberty Power Corp.