Foremost Lithium: NASDAQ, FMST CSE: FAT
Foremost Lithium is a hard-rock lithium exploration company focused on empowering the North American clean energy economy. Foremost’s strategically located “Lithium Lane” properties extends over 43,000 acres in Snow Lake, Manitoba - located at the tip of the NAFTA superhighway to capitalize on the world's growing EV appetite, strongly positioning the Company to become a premier supplier of North America's lithium feedstock.
Manitoba, one of the world’s friendliest mining jurisdictions is focused on increasing investment in mineral exploration & development. The Lithium Lane Properties, are all near existing infrastructure including highway, grid power and railway. The Company’s properties have access to abundant renewable power sourced from the provincial grid and more than 98% of electricity in Manitoba is generated using hydroelectricity and wind power.
| Share Structure | |
| Share Price (CAD) March 15, 2024 |
CAD $3.81 |
| 52-Week Trading Range |
$2.60 - $13.50 |
| Market Cap (Basic) | CAD$19.8M |
| Issued and Outstanding | 5.2M |
LITHIUM INDUSTRY DRIVERS
- Long Term Critical Mineral Projections: Modelling has demonstrated that basic macro drivers in the battery metals space will continue, driving a structural imbalance between lithium supply and demand
- The Inflation Reduction Act provides a $7.5K EV Tax Credit but requires battery minerals in EVs be extracted or processed in the US or free-trade partner countries
- Energy Transition hit a record of $1.8 trillion in 2023, with projected bigger increases by 2030. Lithium-ion batteries capacities is forecasted to reach 6.5 TWh by 2030, almost tripling current capacity
INVESTMENT HIGHLIGHTS
Favourable Market Outlook
Robust Long-term Demand for Lithium
- The global electrification revolution has arrived
- It's the end of the "ICE" age (internal combustion engine) as the word transitions to EV's
- Government policy is accelerating the demand for domestic lithium supply
Geographically Attractive
North American Sourced Lithium Feedstock
- Located at the tip of the NAFTA "superhighway" with easy access to North American battery and EV manufacturing sites
- Accessible via the Arctic Gateway railway that runs north to the port of Churchill and south connecting via Winnipeg to the U.S. rail network, and highways
Favourable Geology
Lithium Enriched Pegmatite Clusters
- Jean Lake Lithium/Gold and Peg North Property are bound by the Crowduck Bay Fault, as well as are situated along the Thompson Brother's Lithium Trend (TBL)
- The Zoro Property also runs alongside the Crowduck Bay Fault which is a significant regional focus for the development of lithium-enriched pegmatite cluster
