SourcingLink.net (OTC Pink: SNET) - Lithium Claims - Tesla Motors, Inc. Backbone
June 24 2016 - 7:00AM
InvestorsHub NewsWire
Miami, FL -- June 24, 2016 --
InvestorsHub NewsWire -- EmergingGrowth.com, a leading
independent small cap media portal with an extensive history of
providing unparalleled content for the Emerging Growth markets and
companies, reports on SourcingLInk.net (OTC Pink: SNET)
SourcingLInk.net (OTC Pink: SNET)
is New to EmergingGrowth.com.
See the Report on EmergingGrowth.com
http://emerginggrowth.com/sourcinglink-net-otc-pink-snet-lithium-claims-tesla-motors-backbone/
Sourcing Link.net (OTC Pink: SNET) is a little known lithium
exploration and drilling company that has yet to benefit from the
lithium rally.
Gold’s rally may be soaking up a majority of the headlines and
limelight, but there is one commodity that has outperformed gold
while remaining mostly under the radar. While gold is up nearly 20% year to date through June
2016 with one of its best performances in over three years, lithium
prices outperformed in 2015 and are primed to continue its massive
rally.
San Diego, CA-based SourcingLink.net, Inc. (OTC Pink: SNET) is an
emerging lithium/rare earth company exploring the Lac Fire and
Eldor properties in Quebec, Canada. The company is exploring
eight claims in the Lac Fire property and also 34
claims (3,951 acres) on the Eldor property.
Lithium carbonate prices were around $6,000 per ton back in 2014,
but have since risen to $13,000 per ton in 2016, and some prices even as high as $23,000
per ton has been paid by China this year, as demand ramps up. The
enormous demand for lithium comes as Goldman Sachs Group (NYSE: GS)
calls lithium the “new gasoline,” and the commodity is seen as the
key to the electric car future.
Tesla Motors Inc (NASDAQ: TSLA) founder and chief executive office,
Elon Musk, has been one of the major drivers of price appreciation
in lithium carbonate prices this year.
Musk believes that with the new gigafactory going up in Nevada,
Tesla will be able to produce 500,000 electric Tesla vehicles per
year by the year 2020. “In order to produce a half million cars per
year…we would basically need to absorb the entire world’s
lithium-ion production,” detailed Elon Musk on the gigafactory
progress.
As of June 2016, SourcingLink.net, Inc. (OTC Pink: SNET) had a
market value of $5.2 million. In addition, the lithium explorer and
developer had 900 million authorized shares, 41.61 million shares
outstanding, and a float of 5.92 million, as of April 2016.
SourcingLInk.net (OTC Pink: SNET)
is New to EmergingGrowth.com.
See the Report on EmergingGrowth.com
http://emerginggrowth.com/sourcinglink-net-otc-pink-snet-lithium-claims-tesla-motors-backbone/
Other Emerging Growth Companies in the Space
Galaxy Resources,
Limited
Australian lithium mining company,
Galaxy Resources Limited (OTC Pink: GALXF) engages in the
exploration and production of lithium carbonate across the
company’s Australian operations, Canadian operations, and
Argentinian operations. Galaxy Resource Limited (OTC Pink: GALXF)
has seen shares climb 335% year to date, as Galaxy Resources
Limited (OTC Pink: GALXF) remains a top player in Australia lithium
production and the company’s strong relationship with Chinese
clients. In fact, Galaxy Resources Limited (OTC Pink: GALXF)
entered into a $36
million agreement in March 2016 that involves the sale
of 60,000 tons to two Chinese lithium converters. The contract will
also see delivery of an additional 120,000 tons in 2017 to the
Chinese clients with a price that is to be decided on lithium
market price at the time.
Lithium
Corporation
Lithium Corporation (OTCQB: LTUM) is a
New York-based miner that focuses on the acquisition and
development of lithium and flake graphite properties in British
Columbia and Nevada. Lithium Corporation (OTCQB: LTUM) current has
two lithium properties in Nevada that spread across 3,200 acres:
Fish Lake property and San Emidio property. Lithium Corporation
(OTCQB: LTUM) has seen shares climb nearly 214% year to
date, as the company continues to focus on its lithium fields. As
of June 2016, Lithium Corporation (OTCQB: LTUM) had a market cap of
$7.13 million. Furthermore, the mining company has 3 billion shares
authorized and 77.61 million shares outstanding, as of April
2016.
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