PHOENIX, Sept. 25, 2018 (GLOBE NEWSWIRE) -- Wealth Minerals (TSX-V:WML) (OTCQB:WMLLF) (Frankfurt: EJZN) (the “Company” or “Wealth”) is a company dedicated to mining and developing lithium assets. Tim McCutcheon, President of Wealth Minerals, talked with Stock Day’s Everett Jolly about recent news impacting this industry.
Wealth Minerals has interests in Canada, Mexico, Peru and most recently, Chile. Their latest project, the Atacama Project, is part of the prolific Atacama Salar region, which accounts for one third of the world’s production of lithium.
“We set up this platform (Wealth Minerals) to get into the space, a first mover in Chile,” says McCutcheon. “Chile is a premiere location for the production of lithium from brines.” However, he went on to say, the news for the lithium sector as a whole hasn’t all been promising.
“The lithium space in general has taken a pretty big hit since the beginning of the year, and Wealth has followed its peer group down to lower valuation levels. No one in the company is happy about that.”
McCutcheon, however, tells Jolly it’s important to keep perspective on the numbers. Jolly did mention that minerals are down in general. Then McCutcheon noted that the decline in all lithium peer companies by nearly the same percentage amount since January is likely a sector-wide issue not a company specific issue. However, that could change in a heartbeat.
“Consumers of lithium, meaning mainly the auto companies and the battery manufacturers, are woefully unprepared for the supply crunch that is looming on the horizon, explains McCutcheon. He added, “lithium is a small market and consumed in long term contracts. It doesn’t take a lot of volume to move that price all over the place.”
For more on the outlook of lithium and Wealth Minerals listen to the entire podcast here: https://upticknewswire.com/featured-interview-president-tim-mccutcheon-of-wealth-minerals-ltd-otcqb-wmllf-4/
About Wealth Minerals
Wealth Minerals is a mineral resource company with interests in Canada, Mexico, Peru and Chile. The Company’s main focus is the acquisition of lithium projects in South America. To date, the Company has positioned itself to develop the Trinity Project, as well as to work alongside existing producers in the prolific Atacama Salar, in addition to the Laguna Verde lithium project acquisition. The Company has also positioned itself to play a role in asset consolidation in Chile with the Five Salars Project.
The Company is transitioning from an asset acquisition phase to developing its current high potential portfolio. Lithium market dynamics and a rapidly increasing metal price are the result of profound structural issues with the industry meeting anticipated future demand. Wealth Minerals is positioning itself to be a major beneficiary of this future mismatch of supply and demand. The Company also maintains and continues to evaluate a portfolio of precious and base metal exploration-stage projects
For More Information: www.wealthminerals.com
About Tim McCutcheon
Mr. McCutcheon is a mining and finance professional with over 20 years of international business experience. He has led several mining development companies with assets in Russia, Slovakia, and Ghana. Additionally, Mr. McCutcheon has served as an advisor to a wide range of natural resource companies, playing key roles in administration and capital market strategy.
Prior to moving to the mining sector, Mr. McCutcheon worked in multiple financial institutions such as Bear Stearns, Aton Capital, and Pioneer Investments as an award-winning metals and mining sector analyst and as an investment banker. He also was a founder/partner of DBM Capital Partners Ltd, a leading boutique metals finance institution which managed the mining fund Sayan Investments Ltd and advised multiple base and precious metals mining companies active in Europe and Asia. Mr. McCutcheon has a BA and MBA from Columbia University, New York, USA.
Contact: Tim McCutcheon
2300 – 1177 West Hastings Street
Vancouver, British Columbia
Canada V6E 2K3
Toll-Free: 1-888-331-0096
Telephone: 604-331-0096
Fax: 604-408-7499
Email: info@wealthminerals.com
This press release includes “forward-looking statements” within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Actual results may differ from expectations and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results. Additional information concerning these and other risk factors are contained in the Company’s most recent filings with the Securities and Exchange Commission. The Company cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. The Company does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in their expectations or any change in events, conditions or circumstances on which any such statement is based, except as required by law.
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