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Posted on 01 January 2012.
Current PPS: $0.38
Avg. 10day Vol: 24.9K
Outstanding Shares: 50.9M
NECA currently owns approximately 3,200 acres in Nevada where projects are currently in production for the exploration of lithium brine. NECA’s “Mud Lake” lithium project is located in the Ralston Basin area of Nevada where 29-miles away exists the ONLY lithium brine producer in all of North America called Clayton Valley. The Ralston Basin area consists of 3,189 square miles that contains volcanic activity that can form lithium; NECA’s Mud Lake project location is positioned at the low point of the valley and has similar geographical features as Clayton Valley. NECA’s mission is to thoroughly explore the lithium property and determine if the same lithium evaporates and brine deposits are formed just as the Clayton Valley produces.
According to NECA’s SEC 8-k form filing, NECA entered and closed an agreement to acquire property from First Liberty Power Corp. and GeoXplor Inc. in the beginning of August. NECA’s goal is to acquire mineral properties throughout the U.S for further lithium research and development to assist the demanding economy today. In addition, NECA’s exploration is supported by America’s Lithium Production Act of 2011 that has been designed to enhance lithium production for the advancement of lithium battery technologies.
In addition, NECA is involved in the development of technology for the preparation of ethanol/methanol gasoline. This preparation is derived from light oil, naphtha, regular gasoline, and other additives. With this technology, NECA’s intention is to license this technology in Asia with a primary concentration in the Philippines and China.
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