United Lithium Corporation (CSE: ULTH | OTC: ULTHF | FWB: 0ULA) is an exploration & development company energized by the global demand for lithium. The company is actively working prospective locations in Sweden, the USA, Finland and in Canada’s lithium sector where regional deposits and mining operations along with advanced infrastructure allows for rapid and cost-effective exploration, development & production opportunities.

Management team

Scott Eldridge

President, CEO & Director

Mr. Eldridge brings 15 years of experience in the metals and mining industry focused on capital markets, having served in various buy-side, sell-side and issuer roles. Mr. Eldridge was a co-founder of Euroscandic International Group, an advisory firm where he raised upwards of $350M of combined equity and non-equity for project finance for mine builds. Mr. Eldridge also served as CFO of Amarillo Gold prior to its takeover by Hochschild Mining and more recently, CEO and director of Canagold Resources. Mr. Eldridge is currently also a director of Nevada Lithium Resources. Mr. Eldridge conducted his bachelor studies at Capilano University in Vancouver, Canada and Arcada University in Helsinki, Finland and received his M.B.A. at Central European University in Budapest, Hungary.

Faizaan Lalani

CFO & Director

Mr. Lalani is an accounting and finance professional with over 10 years of experience covering audit, financial reporting, corporate finance, and operations management. Mr. Lalani previously worked in the audit and assurance group at PricewaterhouseCoopers LLP, Canada, where he obtained his CPA, CA designation, gaining vast experience in accounting practices in both the public and private sectors during his tenure.

 Mr. Lalani has also served as a Senior Accountant for PortLiving, a Vancouver based real estate development company, since 2016 and, from 2014 to 2016, Mr. Lalani served as a Senior Accountant with Century Group, a Vancouver real estate development company. Mr. Lalani currently serves as a director and Chief Financial Officer of Soldera Mining Corp., and a director of IMC International Mining Corp.


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Why Lithium?

The power storage capability of Lithium-Ion batteries and their application in sustainable power generation systems, EV vehicles and in the reduction of our global carbon footprint drives inevitable market growth in the sector.

Hydrocarbons powered the world for over a century.

The lithium-ion battery provides a tremendous energy storage capacity relative to size/weight. 

By having that energy available when we need it, we can capture energy when we don’t need it. Lithium stores energy efficiently and in a usable format, which creates new possibilities for renewable energy generation. Wind, tidal, geothermal – all are sources of energy which become much more viable now that the issue of storing that energy for as-needed use is solved. Even in cases where we still use hydrocarbons, we can use them more efficiently and generate less pollution by employing lithium-ion batteries. One major hydrocarbon-fired power plant transmitting electricity to households that charge multiple electric vehicles is much more efficient and generates less pollution than each of those vehicles running their own individual hydrocarbon-fired power plant.

The promise of electric vehicles (EV) is real, and the most visible aspect of the profound changes happening in the world today due to the energy shift led by lithium-ion battery technology.

The very nature of energy is changing. United Lithium is at the core of this change helping uncover lithium resources to meet the growing demand ahead.

Lithium-ion batteries and advanced energy storage systems represent one of many themes of the 4th Industrial Revolution: Industrial Disruption.

…there is an energy revolution taking place before our eyes. For the first time since the Industrial Revolution we see a significant challenge to energy derived from fossil fuels.

Roskill Information Services Jake Fraser recently stated, “lithium chemical demand from end-use sectors is still expected to increase year-on-year to around 280,000 tonnes lithium carbonate equivalent,” Fraser said. 

“(That is) owing to larger battery packs being installed in electric vehicle (EV) models and the EV sector itself forecast to see 10 percent year-on-year growth in sales.”

CRU Group’s George Heppel notes the ongoing “green recovery” narrative and the introduction of very generous subsidies in Western Europe has resulted in an astonishing increase in EV sales this year which is contributing to a significant increase in demand for lithium battery chemicals.

Industry news

Lithium Demand and Supply

in net zero carbon scenario (multiple of 2020 demand levels, LCE)

Source: Rio Tinto. Click to enlarge image.
Source: International Energy Agency. Click to enlarge image.


Although deposits of lithium lie around the world, its supply (currently) only resides within a few regions.

Major trade flows of lithium carbonates:

Chile South Korea $297
Chile Japan $214
Chile China $115
Chile Belgium $100
China South Korea $100
Argentina China $99
Chile US $47
Argentina US $46

Major trade flows of lithium oxides and hydroxides:

China Japan $334
China South Korea $265
Chile South Korea $83
US Japan $62
Russia Belgium $55
Canada China $32
US Germany $15
Netherlands Germany $14

Source: TradeMap,

Market Update: S&P Global

The growing consensus among investors in the energy sector is that the energy transition is real and is already in progress. But underinvestment in the mining and processing of critical elements could have implications for the timing and cost of the transition.

The International Energy Agency (IEA) warned in its World Energy Outlook on Oct. 13 that supplies of certain key minerals such as lithium, cobalt, nickel, and graphite are inadequate to meet projected world demand under most scenarios for the energy transition. Already, price spikes of 5%-15% are expected this year for solar modules, wind turbines, electric car batteries, and power lines based on shortages of these materials. Demand for elements like lithium, dysprosium, and other rare-earth elements is expected to increase to many multiples of existing levels.

To meet this demand, more mining and processing facilities will be required. According to the IEA, higher prices are likely due to “long lead times for the development of new projects, declining resource quality, growing scrutiny of environment and social performance, and a lack of geological diversity in extraction and processing operations.”

Creating more capacity is a time-consuming process, one that investors have been hesitant to support despite a growing commitment to environmental sustainability
. Even more common elements, such as nickel and copper, are forecast to have a structural deficit in the next 10 years, with higher prices coming as a result.

Complicating the development of new mining and processing projects is the fact that many of these critical elements are located in areas with low levels of political stability. The IEA is recommending to its 30 member nations that they consider establishing or expanding strategic reserves of critical metals including alumina bauxite, lithium, and copper.

“I think today, everybody wants to invest in battery-manufacturing facilities, sort of the next Tesla Inc. Nobody wants to do the really hard, gritty things such as actually providing the natural resources to make that energy transition occur,”

"In the years ahead, the lack of internationally coordinated strategic reserves, combined with some geopolitically unstable sources of supply, portend a high likelihood of volatile prices."

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