Barrel Energy Inc (OTCMKTS: BRLL) has had a year to remember starting off in January in the double zeroes and recently hitting highs of $0.086 per share. After a brief dip below $0.06 BRLL is once again moving northbound looking to take out recent highs.
BRLL went pink current earlier this year and moved into the booming domestic lithium mining space. Recently the Company informed shareholders that the approximate number of outstanding shares will be reduced by 8 to 10 percent (%) due to the return of thirty to forty million shares to treasury from multiple noteholders. Also, the company expects there will be no new share issuances within the next 12 months.
Barrel Energy Inc (OTCMKTS: BRLL) is focused on several ventures within the green energy and battery minerals sector and the rapid development of valuable production opportunities throughout North America and abroad. The company holds important joint venture agreements to advance technologies and processes for Electric Vehicle batteries.
Over the last 12 months Barrel has been systematically examining new areas of Lithium exploration potential. We’ve examined the geologic potential of several projects in Nevada, various pegmatite bodies in India and Quebec, as well as number of oil field and geothermal field brine waters. After a review of numerous well logs, published data, scientific papers and as well as direct communication with project holders, Barrel has uncovered areas of high-level lithium potential within the oil and gas field brine waters of formations located in the southcentral U.S.
Barrel Energy is now in discussion with some parties interested in developing solutions for increasing North America’s lithium supply with environmentally friendly extraction technologies that enable more North American production. This will help detach North America from global supply chains. Barrel Energy is also encouraged by the aggressiveness of the United States in promoting domestic production and we are positioning ourselves to be a key player in the lithium industry.
$BRLL USA/North America have enormous upside on global production. Look at this chart. $LAC $ALB $SLI pic.twitter.com/jiqBeJrRdk
— Bodhi (@Bodhi_Trades) December 30, 2022
To Find out the inside Scoop on BRLL Subscribe to investmillion.com Right Now by entering your Email in the box below
Earlier this year the Company engaged Dentons Canada LLC, a part of Dentons, the world’s largest multinational law firm to assist us in the process for removal of the Cease Trade Order (“CTO”) with the British Columbia Securities Commission in Canada. The application with supporting documents was recently submitted by Dentons on our behalf and we will keep shareholders updated on this process.
On November 16 BRLL announced it has entered into a partnership to co-develop the West End Lithium (“WEL”) project held by CDSG (OTC:CDSG). Barrel Energy will lead the exploration and production endeavors with CDSG. Barrel is developing a highly innovative lithium extraction methodology for clay hosted deposits. The WEL claims are located in Nye county Nevada, just 6 miles northwest of Tonopah and sit directly within the surrounding outer boundary of the TLC Project being developed by American Lithium Corp. (LI.V) (OTCQB: LIACF).
The TLC Project currently hosts a large NI 43-101 compliant resources of 5.37 million tonnes (Mt) lithium carbonate equivalent (LCE) in the measured and indicated category with a further 1.76 Mt LCE in the inferred category. The present size of the TLC resource is expected to grow following the results of new 2022 drilling, some around the WEL claim area. With electric vehicles in higher demand, the price of lithium carbonate, a key battery component, have surged year on year. In November 2021 lithium carbonate prices were roughly $27,000 USD per tonne, with November 2022 prices now seeing over $84,000 USD per tonne. The company’s co-exploration program will begin in 2023 (subject to federal and state permitting), and timed well to provide a new lithium resource to help meet the ever-growing demand.
$BRLL bullish cross next leg up looking like an amazing move coming! pic.twitter.com/E7NOt9E4hC
— $DDKING (@JusticeleagueDD) December 30, 2022
We have something big coming Subscribe Right Now!
Currently trading at a $22 million market valuation BRLL OS is 327,437,825. BRLL is an exciting story developing in small caps; the Company is now in discussion with some parties interested in developing solutions for increasing North America’s lithium supply with environmentally friendly extraction technologies that enable more North American production. BRLL also entered into a partnership to co-develop the West End Lithium project held by CDSG. Barrel Energy will lead the exploration and production endeavors with CDSG. Barrel is developing a highly innovative lithium extraction methodology for clay hosted deposits. The Lithium market is booming and BRLL continues to make all the right moves quickly attracting a fast-growing shareholder base accumulating at current levels. Also, the Company has made it clear there will be no more dilution and management is working on a significant share reduction. We will be updating on BRLL when more details emerge so make sure you are subscribed to investmillion.com by entering your email below.
Disclosure: we hold no position in BRLL either long or short and we have not been compensated for this article.