the Austrian government halted this mine in the 80's due to low lithium prices, now the price is much higher the mine will be active again, much the same way many gold mines were closed when gold price was $250 per oz, now at $1500 these mines are worthwhile.
now ECM's lithium mine could be put back into production straight away, however they will most likely first do some more testing to prove the resource,
why
well there are new technology's over the past 30 years, and there is new uses for lithium and other rare minerals, rare earths minerals or metals
now I think it would be a good chance that when they do more testing on this mine they might find some rare earths, if they do this stock could really soar.
even as lithium prices rise, the electric car industry grows the demend could rise, if some governements give an incentive to buy an electric car the demend will surely rise.
in any case electric cars are going to increase in number and demand.
So this stock with a workable mine ready to go would seem a good bet, anyway when a couple of events happen we should see a decent rise, when they do some more testing and find increased resources or other elements then this could take off.
in my view anyway.
ECM Price at posting:
37.5¢ Sentiment: None Disclosure: Held
