As the trading week comes to a close, it is a good time for investors to consider taking a look into those companies that may have made key announcements on Thursday. One of the companies that could be worth tracking this morning is PetroSun Inc. (OTC:PSUD), which made an announcement yesterday with regards to a rise in its lithium reserves and the expected start date of production.
PetroSun stated yesterday that, along with its associates, it was confident in the collective ability to process and extract lithium from brine water and clay at a scale that would not only be economically viable but also environmentally responsible. The company noted that the confidence in production had also led to higher confidence in securing capital through government loan programs as well as the private sector. The capital would be necessary for the preliminary extraction and also for the processing plants for both brine and clay water. The plans in question would be located in the United States.
However, that was not all. PetroSun also announced that it was looking into opportunities in the Salton Sea area in California and the Smackover Trend located in South Arkansas, East Texas, Mississippi, and North Louisiana so as to extract and process lithium as well as other elements that are economically valuable. It was also revealed that the evaluations continued in the Four Corners, consisting of New Mexico, Colorado, Utah, and Arizona, in addition to Mexico.
Those areas are not only rich in lithium concentrates but also in cesium, rubidium, and zeolite in commercially viable quantities. It was further noted that the zeolite clay reserves had gone up considerably to hit 500 million metric tons and recorded a lithium concentration of 2452 ppm, as per the latest content analysis that had been issued by the Arizona State University lab.
