Standard Lithium Ltd. is a Canadian-based energy exploration and development company with a value-driven strategy of acquiring a diverse and highly prospective portfolio of large-scale domestic lithium-bearing brine resources. Led by an innovative and results-oriented management team with a strong focus on technical skills, Standard Lithium is currently focused on the exploration of its Bristol Lake Brine Project in the Mohave region of San Bernardino County, California.
Recent results from a geophysical survey of the 25,000-acre Bristol Lake site suggest a high concentration of lithium-bearing brines are present throughout the company's mineral lease agreement claims. Standard Lithium's strategic partner in the venture, National Chloride Corporation of America, is well established in the region. All necessary infrastructure is on site, which gives Standard Lithium immediate access to conduct exploration brine sampling, lithium extraction, evaporation and processing activities, all within a fast-track project development schedule.
World demand for lithium continues to surge. The global lithium compounds market is projected to reach U.S. $5.87 billion by 2020, at a compound annual growth rate of 13.22% between 2015 and 2020. Lithium-ion batteries are the fastest growing segment of the market.
Standard Lithium's determination to provide battery-grade lithium materials is bolstered by its recently appointed Scientific Advisory Council. These leading lithium extraction scientists and process engineers will oversee and direct the necessary lithium extraction process testing work. In addition to the Bristol Lake Brine Project, Standard Lithium is conducting a resource evaluation on its 33,000 acres of brine leases located in the Smackover Formation in Arkansas and recently acquired the 40,000-plus acre Paradox Basin Project in Grand County, Utah.
Recently, Standard Lithium closed a multi-million dollar private placement offering, which allows the company to advance its current projects and pursue strategic acquisitions in the lithium sector. The company is well positioned with significant exploration opportunities featuring low cost production costs, easy transport, proximity to demand, and access to innovative production methodology.