Company
OVERVIEW
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.
Chris Cairns
CFO
Mr. Cairns, a Chartered Professional Accountant (CPA, CA) in Canada, is an accounting and finance professional with over 12 years experience in the finance and mining industry. He brings significant experience in audit, financial reporting, governance, and capital markets and currently also serves as Chief Financial Officer of Apollo Silver Corp. He obtained his designation while working in the audit and assurance group at PricewaterhouseCoopers (PwC), working with numerous Canadian and US-listed mining and exploration companies operating in North America, South America and Mongolia, before leaving to serve in roles as Controller and CFO of two publicly listed exploration mining companies.
Rona Sellers
Corporate Secretary
Ms. Sellers is an experienced governance professional with more than 12 years of experience in corporate and securities law. She currently serves as the VP of Commercial & Compliance and Corporate Secretary for Apollo Silver Corp. Previously, she held the role of VP Compliance and Corporate Secretary at Maple Gold Mines Ltd. and multiple Corporate Secretarial roles at publicly traded companies listed in Canada and the United States. Ms. Sellers holds a Bachelor of Arts degree from Simon Fraser University and an LLB from City, University of London.
DIRECTORS
Scott Eldridge
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.
Cathy Fitzgerald
Ms. Fitzgerald is a geologist with 20 years of mineral resource industry experience in technical and leadership roles. Ms. Fitzgerald’s career has focused on strategic planning and leadership of technical work programs associated with exploration through to resource development across a broad range of commodities and deposit styles. Ms. Fitzgerald recently served as Director, Resource Evaluation for Ivanhoe Electric (formerly High Power Exploration) and currently serves as Vice President Exploration and Resource Development for Apollo Silver Corp. Ms. Fitzgerald earned her B.Sc. at Carleton University and her M.Sc. at the University of Victoria, both with a focus on geochemistry and she is a registered Professional Geoscientist (P.Geo.) in British Columbia.
Iain Scarr
During his 29 year tenure with Rio Tinto, including his most recent position as Commercial Director and VP Exploration, Industrial Minerals Division, Mr. Scarr was responsible for multiple mineral discoveries in North and South America and Africa. Under that title he made his first foray into lithium, working on initial testing and commercialization activities for the Jadar lithium-borosilicate resource in Serbia. Following on from his work with Rio Tinto, Mr. Scarr founded IMEX Consultants, an industrial minerals consultancy that operates across the entire value chain, from mineral exploration, to mine and refinery development and commercialization specializing in lithium, boron minerals, potash and sodium alkali resources. Adapting quickly after his time with Rio Tinto, Iain held a senior role with Lithium One Inc., where he was responsible for bringing the Sal de Vida lithium brine project in Argentina through feasibility where he remained with Galaxy Resources. Thereafter, he held a senior role developing the Rincon project with Enirgi Group Corp. His third success in Argentina was the development of the Pastos Grandes project with Millennial Lithium Corp.
Bob Schafer
Robert W. Schafer is a Registered Professional Geologist and Mineral Economist with +35 years international experience exploring for mineral deposits and structuring business transactions globally, having worked in more than 80 countries, notably Russia, Mexico, Australia, Afghanistan, China and most countries in Africa and South America. As a field geologist, manager and executive, Mr. Schafer led teams to the grassroots discovery of mines in the western USA and Russia, as well as developing strategies that lead to brownfields discoveries in Canada, South America and southern Africa. Robert was the President of SME, 2020. He is also Past-President of the Canadian Institute of Mining and Metallurgy and Petroleum (CIM), the PDAC, the Mining and Metallurgical Society of America, and the Geological Society of Nevada. Robert was a member of the Board of Governors for the US National Mining Hall of Fame and the Chairman and member of the Board of Directors of the Canadian Mining Hall of Fame. He is the first person to hold the highest leadership roles in the key mining organizations of the USA and Canada.
Michael Kobler
Michael Kobler holds a BSc in Mining Engineering from Montana Technological University, which over the past 35 years has allowed him to serve in a variety of roles for early-stage companies including Chairman, Chief Executive Officer, President, Technical Advisor, Engineer and Project Manager; while specializing in identifying, acquiring, developing and producing natural resource opportunities throughout the world. Mr. Kobler was a co-founder and served as Executive Chairman, CEO and COO of American Lithium Corp until April 2021. He was instrumental in developing the their lithium claystone discovery in Nevada to a current resource of 10.5 milion tons of Lithium Carbonate Equivalent; while overseeing the key process development, plan of operations and transitioned the company to its long-term management team. Additionally, Mr. Kobler founded Osum Oil Sands Corp in Alberta in 2005, which during his tenure saw the company grow from a start-up to a valuation nearing $500 million, hired his successors ensuring smooth transition to the company’s next growth stage which saw its equity value approach $2 billion CAD and is now producing 18 thousand barrels of bitumen per day.
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.
International Lithium
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
- Nearly 800 kt LCE of additional lithium would need to come online in the next five years... sees EVs make up around 40% of passenger car sales by 2030. (Wood Mackenzie)
- Striving for green recovery, EU adds lithium to critical materials list. (Reuters)
- EU sounds the alarm on critical raw materials shortages. The EU estimates that to meet its climate neutrality goal, it will need up to 18 times more lithium and five times more cobalt in 2030. The forecasts rise to 60 times more lithium and 15 times more cobalt by 2050. (Reuters)
- BMI - Simon Moores: We now have 167 of these Megafactories in the pipeline to 2028 with a cumulative capacity of 2697 GWh. (BMI - Simon Moores)
- LG Chem plans to separate battery business as electric cars take off. (The Guardian)
- "There is no doubt now that regardless of how well Tesla's vehicles continue to sell, raw material availability will be the primary slowing factor on the company scaling." (Simon Moores)
- Tesla expects significant (battery) shortages in 2022 and beyond. Tesla's Nevada lithium plan faces stark obstacles on path to production. (Reuters)
LITHIUM'S SUPPLY PROBLEM
Although deposits of lithium lie around the world, its supply (currently) only resides within a few regions.
Major trade flows of lithium carbonates:
EXPORTER | IMPORTER | Value (US$, Millions) |
---|---|---|
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 | $46 |
Major trade flows of lithium oxides and hydroxides:
EXPORTER | IMPORTER | Value (US$, Millions) |
---|---|---|
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, Resourcetrade.earth
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,”
Rhett Bennett, CEO of Black Mountain, a family of natural resource companies, told S&P Global Market Intelligence.
"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."
Paul Sheldon, chief geopolitical adviser at S&P Global Platts Analytics, said.