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Noram Lithium Announces Results From 2023 Annual General Meeting
VANCOUVER, BC / ACCESSWIRE / March 15, 2023 / Noram Lithium Corp. (" Noram " or the " Company ")...
About this update from Noram Lithium Corp
[{"type":"text","content":"Noram Lithium Announces Results From 2023 Annual General MeetingVANCOUVER, BC / ACCESSWIRE / March 15, 2023 / Noram Lithium Corp. (\"Noram\" or the \"Company\") (TSXV:NRM)(OTCQB:NRVTF)(Frankfurt:N7R) announces that all motions put forward for approval at its 2023 Annual General Meeting held March 14th in Vancouver, British Columbia (the \"AGM\") were passed.2023 Annual General Meeting ResultsAt the AGM, the following individuals were re-elected as the directors of the Company: Anita Algie, Sandy MacDougall, Arthur Brown, Cyrus Driver and Adam Falkoff. The Company's 10% Rolling Stock Option Plan was approved and ratified and Dale Matheson Carr-Hilton Labonte, Chartered Professional Accountants, was also re-appointed as the auditors of the Company for the fiscal year ending January 31, 2024.About Noram Lithium Corp.Noram Lithium Corp. (TSXV: NRM | OTCQB: NRVTF | Frankfurt: N7R) is focusing on advancing its 100%-owned Zeus Lithium Project located in Clayton Valley, Nevada an emerging lithium hub within the United States. With the upsurge in the electric vehicle and energy storage markets the Company aims to become a key participant in the domestic supply of lithium in the United States. The Company is committed to creating shareholder value through the strategic allocation of capital and is well-funded with approximately CAD$14 million in cash on December 31, 2022 and no debt.About the Zeus Project (100% Noram)The Zeus Lithium Project contains a Measured and Indicated Resource estimate of 5.2 Mt Lithium Carbonate Equivalent (\"LCE\", 1034 Mt at 941 ppm lithium), and an additional Inferred resource estimate of 1.1 Mt LCE (235 Mt at 871 ppm lithium) utilizing a 400 ppm Li cut-off1.In December 2021, a robust PEA2 indicated the Project could produce an annual average of 31,900 tonnes of Lithium Carbonate for supply to battery manufacturers with an modelled mine life of 40 years (resources support a +100 year mine life). The PEA outlined a US$528 million capital cost to construct the Project with a robust after-tax NPV(8%) of US$1.3 billion and an IRR of 31% using US$9,500/tonne LCE pricing. The PEA indicates an after-tax NPV(8%) of US$2.7 billion and an IRR of 52% at US$14,250/tonne LCE pricing. Note that the current daily prices have increased to over US$70,000/tonne LCE.Please visit our web site for further information: www.noramlith...