Tim McCutcheon, President of Wealth Minerals, Ltd., Returns to Discuss Company Updates with Everett Jolly on Uptick Newswire's "Stock Day" Podcast
PHOENIX, Aug. 01, 2018 (GLOBE NEWSWIRE) -- Tim McCutcheon, President of Wealth Minerals, Ltd. (TSXV:WML) (OTCQX:WMLLF) (SSE:WMLCL) (Frankfurt.EJZN) (the “Company”) Returns to Discuss Company Updates with Everett Jolly on Uptick Newswire’s “Stock Day” Podcast.
Returning to the show for the first time in several months, Everett Jolly welcomed President of Wealth Minerals, Ltd., Tim McCutcheon. “Welcome to the show! Why don’t you give my listeners a statement about who you are and what you’re all about.”
Over the past two years, Wealth Minerals, Ltd., has put together a portfolio of premier lithium assets in Chile, a country which represents one-third of the global production of lithium. It comes from one geological unit called the “Atacama Salar.” They’re the second largest player after Australia, but he said, “It has huge endowments from Mother Nature and a lot of scope for ramping up production. There’s a new president in Chile that came in earlier this year and he’s made it explicitly part of his election platform to ramp up natural resources and to really have Chile play a much bigger role in the global lithium market.” Wealth Minerals put together this portfolio in Chile in anticipation of the government eventually becoming “the Saudi Arabia of lithium production.”
Jolly mentioned that in the last couple of months, the Company had a non-brokered raise of $5 million. He wanted to how they are planning to use those funds.
McCutcheon replied that the money is going toward building the effort on the ground and the phase of acquiring assets in the lithium space is over. He said the Company believes there is a major paradigm shift in the world in how lithium is used, consumed and understood by global energy markets. By being a first mover in Chile, Wealth Minerals has basically vacuumed up everything they could at a reasonable price and then have been sorting it into the assets that they really want to keep.
He indicated that the Company did have a recent hiccup in drilling that was made public. They just need to reach out to the local community because it will be a long-term relationship, so the Company needs to understand local concerns. Wealth Minerals wants to emphasize to local inhabitants that the opportunity to create jobs, income and tax revenue is tremendous.
Jolly asked, “What is the state of the global lithium market as you see it?”
“Well, right now, the global lithium market is in deficit and there’s a real disconnect between consumers of lithium and suppliers of lithium.” McCutcheon continued by noting that, in terms of making an electric car, lithium is a very small cost component. The key is that you cannot make an electric car without lithium. “So, even though it’s small in dollar terms, it’s incredibly strategic in terms of actually being able to do it.”
He continued that the consumers of lithium are multi-billion-dollar companies who are building massive battery factories, assembly lines, and so on. What these companies haven’t figured out, however, is where the lithium is coming from. “So, the pipeline of projects globally doesn’t really fit what the demand curve suggests going forward.”
Jolly said he thinks the Company is currently undervalued. In closing, he asked McCutcheon his thoughts about wealth and capital markets.
The lithium market is in a liquidity dynamic, i.e., money in and money out. Across the board, the lithium market has been hit hard recently, but the underlying dynamic is very much still there. The fundamentals are really solid.
For more information about the Company’s financial details, listen to the full interview at the link below.
About WMLLF
Wealth Minerals, Ltd., is a mineral resource company with a strong focus on lithium brines in Chile and on the acquisition of additional lithium assets in South America. The Company also has a portfolio of precious metals projects in Peru and Mexico. Wealth's management is focused on the acquisition of advanced, undervalued mineral resources located in stable development-friendly geopolitical jurisdictions within Central and South America. Wealth's current focus on the lithium sector arises from a recognition that demand for lithium is expected to increase substantially in the coming years in support of electric vehicles and other emerging technologies.
Contact:
Wealth Minerals Ltd.
1177 West Hastings Street
Suite 2300
Vancouver, BC V6E 2K3
Canada
1-888-331-0096
604-331-0096
https://wealthminerals.com/
info@wealthminerals.com
Safe Harbor Act and Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Actual results may differ from expectations and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Additional information concerning these and other risk factors are contained in the Company’s most recent filings with the Securities and Exchange Commission. The Company cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. The Company does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in their expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law.
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