LITHIUM X ENERGY C COM NPV (OTCMKTS:LIXXF) Gearing Up For A Big Move

In our last review of LITHIUM X ENERGY C COM NPV (OTCMKTS:LIXXF) on May 1, 2017, we reported on the favorable long-term circumstance in which the Company finds itself. The Company continues to take proactive steps to achieve its goals.First, a little background for anyone that is not familiar with the company.Lithium X Energy Corp. is a lithium exploration and development company with a goal of becoming a low-cost supplier for the lithium battery industry. Lithium X owns 50%, and has the option to acquire up to 80%, of the Sal de los Angeles lithium brine project in the prolific “Lithium Triangle” in mining friendly Salta province, Argentina, a well-known salar with a large resource and high concentrations of lithium.Lithium X’s Arizaro project consists of 33,846 hectares located in one of the world’s largest salars thought to contain elevated lithium brine values. Lithium X is also exploring a large land package in Nevada’s Clayton Valley, contiguous to the only producing lithium operation in North America – Silver Peak, owned and operated by Albemarle, the world’s largest lithium producer.Lithium X Energy Corp. announced on July 11, 2017 that it closed the definitive agreement, which was publicized in a press release on June 29, 2017, with Aberdeen International Inc. for the purchase of Aberdeen's remaining 50% interest in Potasio y Litio de Argentina S.A. which controls 100% of the Sal de los Angeles Project. Under the Acquisition, the Company has acquired Aberdeen's remaining 50% interest in the Sal de los Angeles Project by paying to Aberdeen $5 million in cash and issuing 6 million common shares of the Company.Subsequently, on Sept. 25, 2017, Lithium X Energy Corp. announce the results of the recently completed drill program at its wholly owned Sal de los Angeles project, which covers 95% of the Salar de Diablillos, Salta province, Argentina. The drill program consisted of three exploratory diamond drill holes targeting undrilled portions of the basin north of the existing brine resource, and two sonic drill holes in known areas to enhance porosity and stratigraphic data.The drill holes successfully demonstrate brine continuity throughout the northern portion of the basin all the way to the basin margins. As many as 93 samples were collected and sent for Relative Brine Release Capacity ("RBRC") testing. RBRC testing provides valuable porosity data to help determine specific yield of the aquifer materials. Final brine sample results for all RBRC results have not been received by the Company. These additional results will be released as received by the Company.In an effort to quell false rumors, the Company can confirm that sustained artesian conditions resulting in well blow-outs were not encountered during this drill program nor during any other activities on the Project during Lithium X's ownership or control of SDLA. All permits received in regard to the completed work programs (drilling, pumping tests, and seismic surveys) and the construction of the Initial Ponding Facility are in good standing and have not been revoked, suspended or in any way materially affected by any government agency or other authority. The Company continues to develop the Project in accordance with these permits.Lithium X Energy Corp. also announced on May 31, 2017 that it has completed the previously-announced transactions with Pure Energy Minerals Limited, consisting of the sale of its interests in Nevada, and its subscription for 3.571 million Pure Energy units for at a total subscription cost of C$2 million. Completion of the Sale and the Subscription results in the Company participating in Nevada's Clayton Valley solely through its holding of 19.99% of Pure Energy's outstanding common shares and Pure Energy share purchase warrants that, if exercised immediately, would increase the Company's ownership interest to 22.5%.

LIXXF stock continues to trade in the range that it has been in since April of 2016 with support at about US$1.08, and resistance at about US$1.80. the stock is currently holding steady at US$1.3740. The stock is currently trading at $1.51. The latest quarterly financial reports for the period ending March 31, 2017 show that the company is still pre-revenue, it also shows a very strong balance sheet with plenty of cash and very little debt. Current market capitalization stands at $109.57 million, on 71.16 million shares outstanding as of September 25, 2017.Analysts at Morgan Stanley recently delivered a bullish report on Tesla (TSLA), saying they expect the number of the electric-car maker's vehicles on the road to jump 80% in 2018 to 531,000, and triple by 2019, as sales of Tesla’s new Model 3 accelerates. More electric cars translate to higher demand for lithium needed to produce the batteries to power the cars. This is great news for Lithium X Energy Corp., and any investors that are considering adding LIXXF to their portfolios.We will be updating our subscribers as soon as we know more. For the latest updates on LIXXF, sign up below.For the full story, check out our complete coverage on LIXXF.Image courtesy of Jose Luis Gonzalez via FlickrDisclosure: We have no position in LIXXF and have not been compensated for this article.