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Letter to Shareholders from Rock Tech's CEO
Letter to Shareholders from Rock Tech's CEO Canada NewsWire VANCOUVER, Feb. 1, 2...
About this update from Rock Tech Lithium Inc.
[{"type":"text","content":"\n\n\n\nLetter to Shareholders from Rock Tech's CEO\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, Feb. 1, 2017\n\n\n\nVANCOUVER, Feb. 1, 2017 /CNW/ - \n\n\n \n \n\n \nDear Fellow Shareholders,\n\nI hope you are having a great start to 2017 – a year that we are confident will be most prosperous for lithium companies.\n\nSince my last letter in May of 2016, in which I gave you an overview of the \"new\" Rock Tech and a general outlook of our activities, we have made significant progress on several fronts. Driven by our clear and unwavering focus on creating shareholder value, we have focused our efforts on analyzing the upcoming and long-term developments and trends in the lithium and battery metals markets. To develop an even deeper understanding of our Georgia Lake property, we have started a further exploration program and engaged geological experts to analyze our exploration data, ensuring we can efficiently and effectively expand and develop this property. Further, we have begun cooperation discussions with both upstream and downstream industry participants including end-users in the automotive sector.\n\nAdditionally, we bolstered our financial position through two successful private placements – the first, closed in July, was priced at $0.30 and the second, closed in December, was priced at $0.90 – raising close to C$4 million and providing the basis for our near-term growth strategy. As you know, our share price increased significantly since the beginning of last year; however, we still see the current valuation as just a starting point. \n\nAn Exponential Growth Market\n\nAs we have seen, the lithium carbonate spot price has increased markedly from around US$5,000 per tonne in 2015 to around US$15,000 per tonne today – with prices in the Chinese markets reaching even higher levels. As we all watched Elon Musk at the unveiling of the Tesla Model 3 back in March last year, I was struck by his statement that in order to produce 500,000 electric vehicles, Tesla would need to double the world's lithium-ion cel...