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Pure Energy Minerals Ltd. (symbol: PEMIF) is a lithium resource developer focused on becoming a low-cost supplier for the growing lithium battery industry. With a significant land position at its Clayton Valley Project in central Nevada, Pure Energy aims to explore and develop lithium resources efficiently. The company's strategic partner, Schlumberger Technologies Corp., is actively involved in developing Direct Lithium Extraction (DLE) technology at the Clayton Valley Project. This innovative technology allows for rapid lithium recovery from brine and minimizes environmental impact. Pure Energy continues to make strides in lithium extraction and production, positioning itself as a key player in the lithium market.
Pure Energy Minerals (TSXV: PE) (OTCQB: PEMIF) has appointed Yuwei Hong to its board of directors. Hong represents Lithium X Corp, which holds an 11.6% equity stake in Pure Energy. Hong brings over 15 years of experience in management, investment, and consulting, currently serving as vice president of Xizang Zhufeng Resources Co. He previously worked as investment director at NextView Capital and holds a master's degree from the University of Illinois Urbana-Champaign and is a CFA charter holder. He replaces Yuankai Mao on the board.
Pure Energy Minerals (TSXV: PE) (OTCQB: PEMIF) announced the resignation of Mary Little from its board of directors, effective October 21, 2024. Little, who served on the board for nine years, will continue as an advisor to the company. CEO Joseph Mullin acknowledged her leadership and contributions to advancing the CV lithium brine project in Clayton Valley, Nevada.
Pure Energy Minerals (TSXV: PE) (OTCQB: PEMIF) announced that its partner SLB (NYSE: SLB) has completed the earn-in requirements for Pure Energy's Clayton Valley lithium brine project in Nevada. SLB has met technical milestones including continuous production of lithium carbonate at a pilot plant using direct lithium extraction technology. Upon finalizing the earn-in, SLB will take 100% ownership of the project claims, while Pure Energy will receive a 3% net smelter return royalty on all commodities extracted.
The Clayton Valley property comprises 950 placer mineral claims over 9,450 hectares. SLB's pilot plant, described as one of the largest and most advanced DLE plants in the U.S., began producing lithium carbonate in March 2024 after construction started in Q1 2023. Pure Energy's CEO Joseph Mullin expressed excitement about being part of SLB's clean energy technology development through its New Energy business.
Pure Energy Minerals (TSXV: PE) (OTCQB: PEMIF) has signed a Letter of Intent to acquire up to an 85% interest in the Railroad Valley Property in Nevada from Ameriwest Lithium. The 11,201-acre property is a greenfield lithium brine exploration target. The deal involves a three-stage earn-in process over 6 years, requiring total expenditures of $1.95 million in cash/shares and $3.5 million in project costs.
The Railroad Valley basin shares geological similarities with Clayton Valley, which hosts Pure Energy's existing lithium brine project. However, drilling is still required to confirm lithium brine presence at Railroad Valley. No mineral resources have been defined yet. The transaction is subject to a definitive agreement and regulatory approval.
Pure Energy Minerals (TSXV: PE) (OTCQB: PEMIF) has granted 800,000 stock options to directors, officers, and consultants. The options have an exercise price of C$0.30 per share, vest over one year, and expire in five years. This grant is subject to TSX Exchange approval.
Additionally, the company has appointed Ms. Ann Fehr as Corporate Secretary, replacing Ms. Yulia McCutcheon. Pure Energy expressed gratitude for Ms. McCutcheon's contributions during her tenure as Corporate Secretary over the past year.
Pure Energy Minerals has announced significant progress in its Clayton Valley lithium brine project in Nevada. The company has partnered with SLB to develop the project sustainably. Key milestones include receiving final permits, completing plant construction, and commencing technical trials. The demonstration plant employs advanced technologies, including direct lithium extraction, to enhance sustainable lithium production. The facility is located five kilometers southeast of Silver Peak, Nevada, on Bureau of Land Management lands. CEO Joseph Mullin emphasized the importance of these steps toward large-scale sustainable lithium production.
Pure Energy Minerals (TSXV: PE; OTCQB: PEMIF) announced the results of its Annual General Meeting (AGM) held on June 5, 2024. Shareholders voted on key resolutions, including the re-appointment of Baker Tilly WM LLP as auditors and the election of six directors. Newly elected directors, Marceau Schlumberger and Daniel Barnosky, bring extensive expertise in energy and battery metals.
A total of 6,424,974 shares, representing 19% of the company's outstanding shares, were voted. The stock option plan was re-approved, and the number of directors was set at six. Outgoing directors Nathaniel Hartwig and Michael Dake were thanked for their service.
New directors bring significant experience: Barnosky has over 25 years in global energy and decarbonization, while Schlumberger focuses on oil, gas, and U.S. exploration. This marks a new stage of growth for Pure Energy Minerals.
Pure Energy Minerals (TSXV: PE, OTCQB: PEMIF) will hold its Annual General Meeting in Vancouver, BC, on June 5, 2024, at 10:00 a.m. PT. Shareholders have received voting materials and are encouraged to vote online by June 3, 2024.
In partnership with Schlumberger Technology Corp., Pure Energy developed a Direct Lithium Extraction (DLE) pilot plant in 2023 at its Clayton Valley project. The plant, utilizing brine concentrations of 180-220 ppm lithium, has shown positive results.
Pure Energy also secured an additional 5-year water right for brine extraction and testing. The DLE technology promises faster lithium recovery, efficient clean water use, and reduced environmental impact.
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