Canter Resources Corp.
CRC : CSE (opened at $.42Cdn)
Followers are getting a look at the company day 1 of trading.
In this case, they have a large property in Nevada – a prime location, that already has proof of concept. To illustrate this point, here are the companies’ peers and their market caps:
Canter Resources $4 mill CDN
Loneer $355 million USD
American Lithium $325 million USD
American Battery Metal $460 million USD
The property is also only 20 miles from Silver Peak, the only producing Lithium Mine in North America.
I’m told the prospectors behind this project have staked and vended properties that account for nearly all the major Lithium discoveries in Nevada.
Barbara Craig, and her late husband Robert Craig, should go down as one of the most prolific Lithium prospecting/discovery teams in the state of Nevada. They have been focused on Lithium since 2005 and are true pioneers of Nevada’s “white gold rush”.
The major lithium players in Nevada (Loneer, American Battery Technology Company, American Lithium and Pure Energy, with a collective market cap of more than $1 billion USD), “ALL” acquired their Nevada lithium projects from the same prospector that has vended the Columbus Basin Lithium-Boron Project into Altitude (private company), and therefore Canter Resources.
Barbara Craig is pictured below with Warwick Smith (strategic advisor and major shareholder of Canter Resources). The company’s listed on the wall that have acquired projects from Barbara account for more than $1 billion USD in value.
Nevada Lithium Landscape
Nevada is host to the only known lithium brine operation in North America, Albermarle’s ((NYSE: ABL / $16B MC)) Silver Peak Mine, located 28 miles away from the Columbus Basin.
Tesla’s gigafactory 1 is located near Reno, NV.
On August 16, 2022, President Biden signed the Inflation Reduction Act (IRA) into law, marking the most significant action Congress has taken on clean energy and climate change in the nation’s history. The IRA includes nearly $6 trillion dollars allocated to the Department of Energy (DOE), for grants and cooperative agreements to strengthen the nation’s clean energy supply chain.
Nevada’s lithium players are rushing ahead and already benefiting greatly from this government support…
Ioneer Lithium (MC $320M USD) recently received a $700M USD loan from the DOE to support development of their Rhyolite Ridge lithium claystone project, located 15 miles away from the Columbus Basin.
American Battery Technology Company (OTC: ABAT / $320M USD MC) has secured 4 DOE grant awards totaling approximately $70M USD to-date and controls the Tonopah Flats lithium claystone project, located 33 miles from the Columbus Basin.
American Lithium (NASDAQ: AMLI / $230M USD MC) is advancing the TLC lithium claystone project, located 37 miles from the Columbus Basin.
But this is NOT just another “Close ology” play trying to benefit off the success of its nearby neighbors…
Property
This property that is being vended into this new blog sponsor and stock I own personally, has the makings of the next big Lithium deposit to add to the prospector’s wall of fame, and has the potential to be the crown jewel of their portfolio.
This is one of the largest claims packages these vendors have ever assembled, standing at a commanding 23,000 acres in size.
The Columbus basin is hydrologically enclosed, meaning that the lithium that has been leaching into the basin from the surrounding volcanic source rocks for millions of years, and has had nowhere to escape.
Geophysical surveys have also indicated that the “basement” (depth at which hard rock is reached below the sediment/clay fill and underground lakes (Aquafers/brines) in this basin is 12,000 feet deep…the size of the potential prize here is very significant if a discovery is made.
Proof of concept: A previous 2,200-foot drill hole that was completed in the Columbus basin returned 500 ppm lithium from top to bottom in the sediments and clays with higher grade intervals running up to 1,600 ppm lithium. The grades from this drill hole are in the same range as the other claystone deposits in the region. However, this drill hole also encountered 11 aquafers (the target for lithium brines) that were never sampled for lithium. Furthermore, this previous drill hole was a significant distance from the primary target area in the basin where Altitude believes a major brine discovery is possible.
Claystone deposits are gaining traction as potentially viable, but their success will ultimately be determined by emerging/evolving processing technologies to support future economics. Lithium brine operations have several clear exploration and development advantages, including the cost and time required to prove up a substantial mineral resource.
The Columbus basin was once upon a time (late 1800’s) the site of borax/boron mining from brine operations (see photo below). If brine operations were possible here in the late 1800’s, one would think a modern-day lithium brine operation would also be possible.
That leaves significant upside for a very large property with proof of concept for lithium from previous drilling, recent geophysics, and 3D modelling delineating the priority lithium-brine target already completed and the only lithium brine operation in North America currently operating next door to the Columbus basin.
Geological team have been partnered with the vendors and have been a part of numerous discoveries.
Good geologists make the discoveries. Backing ones that have done it time and time again is key.
Lithium is different than hard rock mining in many ways and having experts is important – problem is they are hard to find.
This company has solidified an exclusive arrangement with the geologic team that the Craig family (underlying prospectors) have used. The geologic team that will be on the ground here have recently worked for the peer companies in the area (American Lithium, American Battery Technology Company, etc.) and believe the Columbus Basin Project has a shot at being the best new lithium project in the region.
Further, the technical team behind this venture holds proprietary lithium processing IP, and has built up a database of lithium targets throughout the western US that this new company will be able to leverage as it grows.
Entry Point
One of the most compelling reasons for this speculative play is its entry point. Speculators are getting the opportunity to see this new company on the first day the transaction is announced, and it trades at a microcap valuation of ~$4 million USD, with a cost-effective discovery plan that could launch the company’s valuation much closer to the local peer group sooner than later.
News Flow
Being a brand-new company, speculators can anticipate serious news flow out of the gates.
Canter Resources (CSE: CRC) is hopeful to have several key announcements as it ramps up towards the most exciting catalyst, which should be its maiden drill campaign at Columbus in January.
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