American Lithium Minerals Inc. (OTC BB: AMLM.OB)
Last: $0.87
Change: +$0.01 (+1.16%)
Volume: 108,809
American Lithium is currently seeking funding so that it may proceed with plans to mine lithium deposits in western Nevada. It is estimated that at full production, these deposits may result in ten percent (10%) of the global production of lithium. This makes American Lithium's future prospects look bright.
In light of the April Gulf of Mexico oil spill, the Obama Adminsitration's previously announced goal of at least one million plug-in hybrids by 2015 seems more likely to occur.
Since the oil spill has again highlighted the need for non-oil fuel sources to power Americans vehicles, the lithium ion battery is expected to be rolled out in early fall. Lithium oil batteries are intended to replace the nickel hydride batteries that hybrid vehicles currently use.
American Lithium is poised to supply the increasing demand the use of lithium ion batteries is expected to generate. With only 3% of the world's lithium being produced by the United States, American Lithium is planning on mining lithium on mining claims it has acquired in Nevada. There is the potential for mining enough lithium to represent 10% of the world's yearly demand making American Lithium an attractive stock now.
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