Lithium Exploration Group CEO Distributes May 2014 Newsletter
May 06 2014 - 8:45AM
Marketwired
Lithium Exploration Group CEO Distributes May 2014 Newsletter
SCOTTSDALE, AZ--(Marketwired - May 6, 2014) - Lithium
Exploration Group Inc. (OTCQB: LEXG) CEO addresses shareholders
with his monthly newsletter:
Dear Shareholders,
We are presently finalizing the audit of our March 31 - 10Q.
This is a very exciting quarter for our internal team because, for
the first time in LEXG's history, we have operating business
revenue to report.
We have spent the past month developing our goals for this
quarter, the 2014 calendar year, and our upcoming fiscal year 2015.
We have corporate goals and goals at the subsidiary level for all
of our activities. Obviously the most significant goal is to have
positive net earnings next fiscal year. We also have sales and
profit margin goals at the subsidiary level. In addition, we have
set goals to expand our Board of Directors and to establish
appropriate committees in compliance with exchange
requirements.
Last month we also made an offer to purchase another disposal
facility that we felt had a lot of synergies with our existing
operations. Unfortunately the offer was not accepted by the present
owner. We are currently exploring a handful of other expansion
opportunities, but it is important to note that we will not overpay
for acquisitions and we are not going to acquire businesses that
will require considerable capital expenditure to bring to
profitability.
Here are a few keys to success that I see having a significant
impact on our near and long term plans:
- Assets: The acquisitions that we have recently made come with
physical and liquid assets. These are things that we lacked in the
past: having interest in the future of a technology and having
undeveloped mining concessions are nice ... but they are not
saleable assets. We intend to have a third party valuation prepared
for all of our tangible assets in each 10K from here forward so
that our shareholders can get a close look at the assets that are
underlying their investment in our security.
- Earnings: I subscribe to the philosophy that "if you get the E
(earnings) right, the P (price) will follow." We are exploring
acquisitions, looking at cost efficiencies in all of our
operations, and implementing sales efforts all with the goal of
achieving positive earnings. We need to show these positive
earnings so that shareholders, analysts, and fund managers can
place a value on our security now and in the future. We have
competitors in the disposal industry that have publicly traded
valuations at 30 and 50 times their earnings. These are very large
companies but they don't have game-changing technology or infinite
earnings growth potential as we do here at LEXG. We are working
vigorously to get positive earnings and set LEXG up for a long
future of profitability and price appreciation.
Look out for our March 31 - 10Q filing in the next few weeks as
it will have significant updates to the MD&A section. I look
forward to the coming months and appreciate all of your continued
support.
Sincerely, Alex Walsh CEO Lithium Exploration Group,
Inc.
About Lithium Exploration Group Lithium Exploration Group is a
US-based exploration and development company focused on the
acquisition and development potential of lithium brines and other
precious metals that demonstrate high probability for near-term
production. Currently the company is focused on its Western Canada
lithium assets, testing its Ultrasonic Generator Technology and the
acquisition of oil and gas related assets in Western Canada.
Lithium Exploration Group is a fully reporting company traded on
the OTCQB under the symbol LEXG. Website:
www.lithiumexplorationgroup.com.
Safe Harbor Statement This news release contains
"forward-looking statements". Statements in this press release that
are not purely historical are forward-looking statements and
include any statements regarding beliefs, plans, expectations or
intentions regarding the future testing of the ultrasonic
technology.
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 lithium
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.
Contact Info Shanon Chilson 480-641-4790
info@lithiumexplorationgroup.com