Argentina Lithiumm & Energy (TSX-V: LIT)(OTC: PNXLF) CEO Niko Cacos on Emerging Lithium Discovery In Argentina
Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is the president and CEO of Argentina Lithium & Energy, Mr. Niko Cacos. Niko, how are you? Great to have you back on.
Niko Cacos: I'm very well. Always a pleasure to be on the program, Gerardo, speaking with you.
Gerardo Del Real: Let's jump right into it. The last time that you and I chatted, we were talking about the first drill hole on Rincon West, which was a positive one. And today you had news that the second hole has also returned some very positive lithium results. I mentioned to you off air that I think your timing for a new discovery is perfect. I would love for you to give us the context on the results from this morning's release.
Niko Cacos: Yes, we're extremely pleased with the results that we published this morning. While the first hole that we put out established that we discovered that there's lithium underneath our property in grades that are very comparable to our neighbor's grade, the second hole really just demonstrates that the Lithium brine does indeed extend underneath our property. So it gives us a lot of confidence for the drill holes that are yet to come as we have a five hole drill program that's upcoming and it looks like we're heading towards potentially having a resource. So this is very, very exciting for us. Of course, it's also very exciting, this is our flagship project and as our neighbor is Rio Tinto, world's largest mining company that paid over 800 million to acquire the property just adjacent to us. I think we're sitting in a very, very good situation here and I believe our shareholders must be very pleased.
Gerardo Del Real: You mentioned your neighbor Rio Tinto. You mentioned the grades thus far being comparable and again, let's caution that it's early. We're a couple of holes in here. But I’ve got to believe that you and the team are excited about what you've seen in the first two holes and it's got to give you a lot of confidence with the ongoing program.
Niko Cacos: Absolutely, it does give us a ton of confidence for the ongoing program. I think if we can get just three or four holes that are looking like this, I think that puts us in a situation where we can potentially work towards developing an initial resource and we're already starting to contact our people because I think we're just feeling really confident right now.
Gerardo Del Real: You mentioned your neighbor paying 800 million, I believe for the property next to you. Is that accurate?
Niko Cacos: That is accurate. They paid 825 million just earlier this year. Sure, they have a large resource there, but we're sharing the same salt lake brine and the same salar so to speak, and what the drill holes here are confirming that this lithium brine appears to be extending underneath our property and with grades that are comparable to the grades that Rio Tinto's had. So again, this is a very exciting moment for Argentina Lithium.
Gerardo Del Real: What's Argentina Lithium's current market cap, Niko?
Niko Cacos: Current market cap, we're sitting just around $30 million and as we move forward, I think there's a lot of potential here to increase that market cap because lithium is, as you've stated earlier is extremely hot right now. It's trading at record high prices and the demand for lithium does not seem to be abating at all.
Gerardo Del Real: There's that old saying that there's a bull market somewhere. Lithium is a raging bull market. Uranium, I believe, is on its way to matching it and I know you're involved with a uranium company or two as well that's had a lot of success in that hint. So I think you're positioned perfectly, Niko. I know it's volatile times in the overall indices, but it's a whole lot easier to speculate in a space when you have fundamentals that are as favorable as they are in the lithium space. Anything to add to that, Niko?
Niko Cacos: No, I absolutely agree with that statement, Gerardo. We've got to complete this drill program and just earlier this summer we acquired another significant property that extends well into the salar and as we begin to drill that out, I think our shareholders are prime for some excellent excitement for the coming months here.
Gerardo Del Real: Good stuff. Can't wait to have you back on. Can't wait to see the next set of results as you get closer to being able to pivot towards a resource estimate. Thanks again, Niko.
Niko Cacos: Thank you. My pleasure.Click here to see more from Argentina Lithium & Energy