{"id":38213,"date":"2023-10-19T11:19:03","date_gmt":"2023-10-19T10:19:03","guid":{"rendered":"https:\/\/www.innovationnewsnetwork.com\/?p=38213"},"modified":"2023-10-19T11:21:53","modified_gmt":"2023-10-19T10:21:53","slug":"grid-battery-metals-establishing-industry-leading-lithium-properties-in-nevada","status":"publish","type":"post","link":"https:\/\/www.innovationnewsnetwork.com\/grid-battery-metals-establishing-industry-leading-lithium-properties-in-nevada\/38213\/","title":{"rendered":"Grid Battery Metals: Establishing industry-leading lithium properties in Nevada"},"content":{"rendered":"
It has been said many times that the shift to Electric Vehicles (EVs)<\/a> in North America and throughout the globe is accelerating rapidly and that this is an undeniable consumer trend we are experiencing.<\/p>\n Auto manufacturers worldwide are producing more EVs for sale each year, both in terms of the number of car and truck model options available for consumers and also in terms of the number of cars produced.<\/p>\n Governments are stepping up with EV subsidies for both consumers and manufacturers, and auto manufacturers are increasing their manufacturing capacity. One example can be seen in the recent announcement by Tesla Inc. (NASDAQ: TSLA<\/strong>) to increase the capacity of a newly proposed Mexican manufacturing facility to produce over two million vehicles per year and commit to an investment of\u00a0US$10 Billion in 2025<\/a>.<\/p>\n A key component in the production of EVs is the exploration, mining, and refining of key battery metals like Lithium and Nickel. Canada and the US have committed to supporting the mining industry for these key battery metals, and recent legislation like the\u00a0US Inflation Reduction Act<\/a>\u00a0confirms both financial and functional support to the mining industry as part of an overall long-term strategy for clean technology and progressive solutions to climate change.<\/p>\n <\/p>\n Grid Battery Metals has completed three financings in 2023 and currently has a cash balance of approximately\u00a0CAD$6 million\u00a0<\/strong>in its treasury and, in addition to this, over\u00a0CAD$3 million\u00a0in marketable securities on its balance sheet.<\/p>\n The Company was fortunate to have disposed of some of our non-core nickel assets earlier in the year to yield this very positive situation for the Company and its shareholders.\u00a0\u00a0The Company is proud to announce that it is fully funded for the 2023 and 2024 mineral exploration seasons.<\/p>\n The management team behind\u00a0Grid Battery Metals Inc.\u00a0is leveraging its knowledge of the battery metals sector to create its next winner. As a group, they have been successfully exploring metals used in the production of electric vehicles for over a decade.<\/p>\n They have had a number of successful exits from companies that they have created \u2013 the most recent of which was\u00a0Surge Battery Metals\u00a0Inc. (TSXV-NILI; OTCQX-NILIF), where they were responsible for the discovery of the Nevada North Lithium Project, which Surge recently announced results of up to 8,070 parts per million (ppm) lithium<\/a>.<\/p>\n Grid\u2019s President and CEO, Tim Fernback, stated: \u201cGrid\u2019s management and geological team has been actively exploring EV battery metals in Nevada for over a decade, and we have been very successful in finding and funding new lithium discoveries. Our team has been very adept at finding great properties in great locations.\u201d<\/p>\n Under Mr Fernback\u2019s guidance, Grid has shifted its focus to Nevada. \u201cIt is safe to say that we know Nevada, and we know Lithium,\u201d continued Mr. Fernback.<\/p>\nGrid Battery Metals\u2019 battery metals strategy<\/h3>\n