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GTI Resources storms ahead with drilling at THOR ISR Uranium Project in Wyoming

Special Report: The Wyoming properties are close to UR Energy’s (URE) Lost Creek ISR Facility and Rio Tinto’s Sweetwater/Kennecott Mill. … Read More
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The Wyoming properties are close to UR Energy’s (URE) Lost Creek ISR Facility and Rio Tinto’s Sweetwater/Kennecott Mill.

GTI Resources has started drilling on schedule at the THOR ISR Uranium Project in Wyoming’s Great Divide Basin, US, with two mud rotary drill rigs undertaking a 15,000m program of around 100 holes.

The program is designed to confirm the grade and tenor of uranium mineralisation that was previously identified by Kerr McGee in the 1980s and to ultimately support definition of an economic ISR uranium resource.

GTI (ASX:GTR) has prioritised the Thor Project area for drilling based on historical exploration data, which includes results of 83 historic drill holes as well as some drill logs, and the project’s location on the mapped REDOX boundary.

Mineralisation encountered in the historical drill holes is located around 120–180m from surface.

Project location

Location map. Pic: Supplied

The THOR ISR project lies with 5-30km of both Ur-Energy’s Lost Creek ISR uranium facility and Rio Tinto’s Kennecott Sweetwater uranium deposits and mill.

The project is readily accessible being flat lying and adjacent to a significantly improved and maintained county road.

GTI
Mud rotary drill rigs, ancillary equipment, and support vehicles at the Thor Project. Pic: Supplied

Drilling to identify REDOX boundaries

GTR’s main objective is to identify REDOX boundaries and potential host sands in addition to defining the depth, thickness, grade, and width of mineralisation across the REDOX front.

The program may also enable the estimation of inferred mineral resources or an exploration target but ultimately, the company says it hopes to encounter mineralisation of similar tenor to that encountered at the nearby Lost Creek deposit.

Economic cut-off criteria for sandstone hosted ISR uranium projects in Wyoming’s Great Divide Basin include:

  • Grade greater than 0.02% eU3O8 (200 ppm);
  • Grade x Thickness (GT) greater than 0.2 ( 3m at 200ppm);
  • Width of mineralisation above cutoff nominal 15m; and
  • Nominal GT of 0.4.

Looking ahead

Drilling is expected to take less than 30 operational days to complete and allowing for weather interruptions and the Christmas break, GTI expects that the program will be concluded in early 2022, if weather conditions remain favourable.

Results are expected to be available in the weeks after the final holes have been completed and recommendations for next steps will be developed at the end of the drill program, as late as July 2022.

 


 

 

This article was developed in collaboration with GTI Resources, a Stockhead advertiser at the time of publishing.

 

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

The post GTI Resources storms ahead with drilling at THOR ISR Uranium Project in Wyoming appeared first on Stockhead.


Author: Special Report

Energy & Critical Metals

“Pulling The Plug”: After Multiple Recalls, GM May Be On The Verge Of Ending Production Of Its Chevy Bolt

"Pulling The Plug": After Multiple Recalls, GM May Be On The Verge Of Ending Production Of Its Chevy Bolt

After numerous recalls and the ensuing…

“Pulling The Plug”: After Multiple Recalls, GM May Be On The Verge Of Ending Production Of Its Chevy Bolt

After numerous recalls and the ensuing bad press that comes with them, it looks like General Motors could be set to literally “pull the plug” on its Chevy Bolt EV. 

“GM announced a $35 billion investment in EVs by 2025, including $4 billion to build electric versions of its best-selling pickups,” CNN reported this week. Worth noting is that GM is planning to build those models at its plant in Orion Township, Michigan, the report says.

That plant is currently the home to the GM Bolt and its cousin, the Bolt EUV. The company didn’t make any new announcement as to where, if anywhere, Bolt production would continue.

GM spokesperson Dan Flores gave a statement this week that didn’t drip with optimism about the Bolt, either: “Production of the Chevrolet Bolt EV and EUV will continue during the plant’s conversion activities to prepare the facility for production of the Silverado EV and Sierra EV pickups. We are not disclosing any additional information at this time about Bolt EV or Bolt EUV production.”

    Recall, in September, we noted that after two recalls about fires, GM had finally resorted to telling Bolt owner just not to park their car within 50 feet of another car.

    Flores, who we we’re sure wasn’t getting paid enough to deliver this line with a straight face, said in Fall 2021: “In an effort to reduce potential damage to structures and nearby vehicles in the rare event of a potential fire, we recommend parking on the top floor or on an open-air deck and park 50 feet or more away from another vehicle. Additionally, we still request you do not leave your vehicle charging unattended, even if you are using a charging station in a parking deck.”

    “We are aware of 12 GM confirmed battery fires that have been investigated involving Bolt EVs vehicles in the previous and new recall population,” he continued, telling The Detroit News. “We’re still working with LG around the clock to resolve the issue. Both companies understand the urgency to move as quickly as possible, but, again, the most important thing here is we have to get this right.”

    Recall, back in July 2021, General Motors issued their second recall for the Chevy Bolt after it announced that two Bolts had caught fire without impact and that at least one of the two was related to the battery and happened despite the owner getting a fix from a previous recall.

    The second recall included all Bolt EVs from 2017 to 2019, encompassing 68,000 vehicles. 50,925 of those vehicles were located in the U.S. and they have batteries that are produced at LG Chem’s Ochang, South Korea, facility, the report notes.

    A spokesman for GM said last summer: “As part of GM’s commitment to safety, experts from GM and LG have identified the simultaneous presence of two rare manufacturing defects in the same battery cell as the root cause of battery fires in certain Chevrolet Bolt EVs. As part of this recall, GM will replace defective battery modules in the recall population. We will notify customers when replacement parts are ready.” 

    GM may have finally figured out that one way to stop the fires is to stop producing the vehicle that keeps combusting…

    Tyler Durden
    Fri, 01/28/2022 – 18:00

    Author: Tyler Durden

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    Energy & Critical Metals

    Is LCID Stock a Buy Right Now? Here’s What 3 Analysts Think About Lucid Price Predictions.

    Shares of Lucid (NASDAQ:LCID) closed down 5.4% today, trading near their 2022 low. Even worse, shares of LCID stock are down more than 25% over the past…

    Shares of Lucid (NASDAQ:LCID) closed down 5.4% today, trading near their 2022 low. Even worse, shares of LCID stock are down more than 25% over the past five trading days.

    Source: Around the World Photos / Shutterstock.com

    During 2021, LCID stock returned a staggering 280% as electric vehicle (EV) stocks entered the spotlight. In addition, Lucid has not reported any material news this year that would explain its price decline. So, why are shares down so much?

    Tesla Reports Supply Chain Woes

    Lucid’s recent price decline may be attributed to Tesla’s (NASDAQ:TSLA) fourth-quarter earnings. While Tesla reported sales that were up an impressive 65% year over year, the company also warned of “equipment capacity, operational efficiency and … supply chain” issues. TSLA stock dropped more than 10% the following day.

    Tesla is the undisputed leader in the EV industry. It only makes sense that if Tesla is having issues, then those issues could translate to Lucid as well. Furthermore, Tesla reported that it was experiencing “parts constraints,” which factored into the EV maker announcing it would not release any new vehicles this year. This constraint could hurt Lucid as well. However, all will be known when Lucid reports earnings for the fourth quarter. Lucid has not confirmed an earnings date yet, although Nasdaq estimates that the date will fall on Feb. 21.

    With the potential supply chain constraints in mind, investors are starting to doubt whether Lucid will be able to repeat last year’s performance. Let’s take a look at Wall Street’s LCID stock price predictions.

    LCID Stock Price Predictions

    • Citi has a price target of $57. Analyst Itay Michaeli is bullish on Lucid for three reasons: its leading EV technology credentials, a fast speed t0 market, and “advanced and comprehensive sensor suite leveraged with OTA [over-the-air] capabilities.” Michaeli adds that he sees several catalysts for the coming year, including a manufacturing ramp, Air launch timing updates, and financial results.
    • Guggenheim has a price target of $38. Analyst Ali Faghri gives Lucid a “premium multiple” due to its “best-in-class EV technology,” vertical integration business model and its status as a powertrain supplier. Faghri adds that in the best-case scenario, shares of LCID stock could reach $83. In the worst-case scenario, Lucid could fall to as low as $12.
    • Morgan Stanley has a price target of $16. Lucid’s Q3 delivery figure impressed analyst Adam Jonas. Jonas estimates that Lucid will receive 15,000 reservations for 2022, which is lower than Lucid’s internal estimate of 20,000. For 2030, Jonas believes Lucid will receive 400,000 reservations, which is again lower than Lucid’s estimate of 500,000. Jonas highlights several company risks, such as scaling production, factory costs and supply chain issues. Finally, the analyst adds that he sees better risk-reward balances in other EV names, such as Tesla, General Motors (NYSE:GM) and Ferrari (NYSE:RACE).

    On the date of publication, Eddie Pan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

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    Energy & Critical Metals

    TSLA Stock Can Survive and Thrive Even With a Supply Chain Crisis

    The stock market is still recovering from the latest earnings call from Tesla (NASDAQ:TSLA). In 2021, CEO Elon Musk told the world that he wouldn’t be…

    The stock market is still recovering from the latest earnings call from Tesla (NASDAQ:TSLA). In 2021, CEO Elon Musk told the world that he wouldn’t be part of these reports unless he had something important to say. Two quarters later, though, he opted to once again speak to investors. This call brought plenty of important takeaways for investors. Although TSLA stock fell the next day, nothing Musk said should make investors nervous about the coming year. For some of his critics, though, Musk’s comments posed a risk to the entire electric vehicle (EV) sector.

    Source: Vitaliy Karimov / Shutterstock.com

    What’s Happening With TLSA Stock

    As turbulent as this week as been, TSLA stock looks ready to close it out on a high note. As of this writing, it is up 2% for the day and rallying after a slight downtick. It remains in the red for the week by 6.5% and by 22% for the month.

    At first glance, it’s easy to attribute Tesla’s gains to positive market momentum, a reversal of the trend that has kept it down this week. However, a closer look reveals that such an intuition would likely be false. Fellow EV stock Lucid Motors (NASDAQ:LCID) is down 5.4% for the day. And while its peer Rivian (NASDAQ:RIVN) is indeed back in the green, it received a major catalyst today when an analyst prediction forecasted significant growth for the year ahead.

    Why It Matters

    Following the earnings call, CNN Business’ Chris Isidore sharply criticized Musk’s performance on the call, stating that it would have been better for TSLA stock if he had stuck to his promise. To his way of thinking, Musk’s admittance of the supply chain difficulties facing Tesla reflected poorly not just on his company but on the entire sector. While it is true that TSLA stock was down yesterday following the call, that doesn’t mean that the industry landscape is as bleak as Isidore paints. Let’s take a closer look.

    Isidore’s chief criticisms seem to be that Musk admitted that the supply chain crisis had posed constraints for EV production. While it’s true that Musk may not have provided reassuring words for investors on that front in the manner that Wall Street saw from Apple (NASDAQ:AAPL) CEO Tim Cook, he did emphasize that the company was focused on growth, scaling and production in 2022.

    It’s also not news that the supply chain problems have been inconvenient for automakers. Musk has tweeted about exactly that on multiple occasions. Yet so far, it hasn’t pushed TSLA stock down by any serious amounts. Industry experts have noted that even when supplies are limited, Tesla’s size gives it an advantage over smaller competitors.

    Additionally, Isidore cited critical comments from WedBush Securities analyst Dan Ives. While Ives’ concerns were perfectly valid, he still maintains a buy rating and a $1,400 price target on TSLA stock. One of the call’s top takeaways should be that many analysts remain bullish on Tesla. In fact, since yesterday, more have joined the pack.

    What It Means

    The supply chain crisis hasn’t been good for any manufacturers. Tesla has certainly not been immune, but it weathered the storm last year and still exceeded expectations on deliveries for the final quarter of 2021. There’s no immediate reason to think that the company won’t continue to grow in 2022.

    As it grows, so will TSLA stock. Yes, competition is rising, as Isidore noted, but Tesla remains the undisputed leader of the EV race. Musk has no wish to surrender that title, and he’s going to ensure that it doesn’t happen. The recent record-setting production statistics indicate that he won’t have much trouble.

    On the date of publication, Samuel O’Brient did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

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