Tuesday, August 31, 2021 - Vancouver, B.C.: As the upcoming IPO listing of Blanco
Minerals Inc. draws nearer the company today announces another increase in
valuation as the result of the latest audit that has now been completed. Blanco
Minerals can now confirm that the latest audit has placed a value of over USD
$1.1 billion on the company.
The audit conducted
by PricewaterhouseCoopers LLP commenced after the announcement was made on July
27, 2021 that Tesla Inc. has committed a further USD $27.5 million investment
into the lithium project operated by Blanco Minerals in Zacatecas State,
Mexico. The increase in valuation to USD $1.1 billion equates to a 28% rise
since the previous valuation was conducted in early May 2021. With Blanco
Minerals having 127 million issued and outstanding shares the new company
valuation places the company's audited share value at USD $8.75 per share
compared to the USD $6.84 per share value from the audit performed in May 2021.
In addition to
the latest USD $27.5 million investment from Tesla Inc., a sharp increase in
production and revenue from all three of the company's projects contributed
substantially to the sharp increase in valuation. The full details of the audit
results including a breakdown of revenue figures from the three projects will
be included in the company's IPO prospectus that will be released in the near
future.
The lead
underwriters of the IPO, Barclays Capital and Credit Suisse USA, are presently
making final preparations for the listing on the New York Stock Exchange. The
market conditions for lithium related investments are extremely favorable at
the present time. Year to date lithium mining share prices have been on a sharp
upward trend across all equity markets.
The United
Nations, world governments and NGO's are unanimously focusing on tackling
climate change along with sharply reducing and eventually neutralizing carbon
emissions. The global objectives for reaching the environmental targets cannot
be achieved without a constant and steady supply of lithium to fuel the Green
Technological Future that is being planned.
At this time there
is pressure on global lithium supplies especially as electric vehicle
production ramps up. Lithium shortages are expected to be upon us by as early
as 2022. The timing of the Blanco Minerals IPO will be ideal for shareholders
to be rewarded for their dedication to the company. Further announcements regarding
the IPO are pending.
About
the Company:
Blanco
Minerals Inc. controls the Salar De Arena Rica Lithium Brine Project, located
in the Atacama Region of Northern Chile, in a joint venture partnership with
SQM and large equity investment from CATL, The company also operates a large
lithium brine project in Jujuy Province in northwest Argentina majority funded
by LG Chem. Blanco Minerals Inc. owns the largest lithium project in North
America at Zacatecas State, Mexico with substantial funding from Tesla Inc.
For
further information contact: investors@blancominerals.com
