“With (the resource) based only on the initial drilling program, the Yellowknife lithium project already ranks among the top 10 largest spodumene projects in the Americas,” Francis MacDonald, Li-FT CEO said in a release. “The majority of the deposits included in the (resource) have not yet been constrained by the drilling completed to-date and have excellent potential to significantly grow through further drill programs.”
Li-FT has quickly advanced the project, which comprises seven targets located along the all-season Ingraham Trail highway. However, the resource comes as lithium prices have dropped 88% over the past two years. Battery-grade lithium hydroxide has fallen to $9,950 per tonne on Tuesday from $22,275 a year ago and around $85,000 a tonne in late 2022, according to The Wall St. Journal.
‘30 million additional tonnes’
SCP Equity Research analyst Brandon Gaspar said in a note on Monday that Li-FT’s 50.4…
