on developing its lithium and rare earth projects in Canada. The
Company shall possess 100% in each of the Georgia Lake project in the
Thunder Bay Mining District of NW Ontario, the Kapiwak project in the
James Bay region in northern Quebec and the Lacorne-Projects, which
Canada surrounds lithium planned mine in Val d'Or mining district in
Eastern Quebec . Thus, the company owns the largest lithium-land
package in North America.
Interview with Eunho Lee, Director, President and CEO of Rock Tech Lithium
Especially at the Georgia Lake Lithium Project hang the hopes of the
shareholders of Rock Tech Lithium. Over the next two years, the group
wants to make significant progress here, the value of shares can
increase massively - in spite of higher investments, which are yet to
lift.
Miningscout: Lithium is a metal which investors is not so in focus,
such as precious metals. Why focus on these commodities Rock Tech?
Eunho Lee: Lithium is classified by industry and government as a
strategic and critical material. The global demand for lithium is
increasing. However, there are only a few producing mines worldwide
that promote the commodity. Therefore, we see a good opportunity to
give rise to values for our shareholders. We want to bring us into the
position of being able to meet rising global demand for lithium in the
foreseeable future. The time span for this is around three years.
Miningscout: Where does the demand for lithium in the industry? Where
do you see growth prospects for the commodity?
Eunho Lee: Currently, consumes about 120,000 tonnes of lithium
carbonate. Around a quarter of which is needed in the field of battery
technology, for example, mobile devices and the transport sector.
Other applications are for example in the glass and ceramics industry,
but also in the aluminum production or in the medical sector.
But it will be the battery area that will fuel future growth in
demand for lithium. Experts estimate that the proportion will rise to
40 percent in the future. The demand from this sector is expected to
rise within the next 10 to 15 years from year to year by 7 percent to
10 percent. Within the battery industry will play especially the
electrification of the transportation systems are essential. Then
there are the mobile devices such as Blackberrys, laptops or iPads.
Given all the growth factors are brought together, one arrives at the
above rates.
Miningscout: They estimate lithium so as a kind of mega-trend, with
growth opportunities for many years?
Eunho Lee: Absolutely. As always, there is initially a lot of
discussion and a big hype around these megatrends. If things are
normal, but again, this is no longer a reversible movement. That is
what we expect at Rock Tech for the lithium industry.
Miningscout: Rock Tech is currently active only in Canada. Do you want
to expand their activities in future lithium to other countries?
Eunho Lee: Our focus is first to stay in Canada. In recent months we
have taken six lithium projects outside of Canada under the
microscope. We did not feel that these values as our projects in
Canada. First, we will therefore focus on our Canadian projects. This
is especially true for Georgia Lake in northwestern Ontario. Based on
this, maybe we will turn later projects outside the country, but only
in the field of lithium and rare earths.
Miningscout: Recently, there were changes at Rock Tech. Victor
Goncalves and Dirk Harbecke were appointed to the management. What
role will the two play at Rock Tech?
Eunho Lee: Dirk Harbecke is CEO of African Development Corporation. He
has great experience in the management of listed companies and is
specialized in the areas of corporate finance and project management.
With his experience and skills will be very valuable for Rock Tech.
Victor Goncalves is President and CEO of Three Gold Resources, we are
able to benefit from his extensive knowledge in the advancement of the
company. In addition, Victor is a well known speaker at conferences
and puts us into the limelight.
In the context it is important that some 45 percent of our shares are
held by European investors. With Dirk Harbecke who comes from Berlin,
we have the opportunity to communicate directly with our European
investors.
Miningscout: What is the reason that so many of the shares of Rock
Tech in Europe and are particularly in German hands?
Eunho Lee: There are essentially two reasons. Firstly, Germany is a
leader in alternative energies, in the lithium and rare earth elements
play a role. Therefore, it is very important for us to have a foothold
in Germany. This brings us directly to the second point, because I
believe that the very experienced investors have recognized in Germany
against the background described the value of Rock Tech. Germany has
therefore gained in importance for us.
Miningscout: Coming back to the Georgia Lake project. What role
Geoffrey Carter will play here in the future even after he has retired
from the management?
Eunho Lee Geoffrey Carter has extensive experience as a mining
engineer in the operation and management of mines. He works as a
consultant for various companies, Rock Tech is one of them. Geoffrey
will take us through the early stages of development of the mine. This
is extremely important to us. Although we are still at the exploration
stage, we are in talks with banks and investors are already asking how
we will later operate the mines. Because someone like him is a big
help, even if he is no longer a member of the Management Board of Rock
Tech.
Miningscout: What is special about the project, Georgia Lake?
Eunho Lee: It is the quality of the deposit on the property. The
promotion of lithium is equal parts chemistry and geology. The results
of previous tests are prominent. We have produced a concentration of
6.2 percent lithium. Below 6 percent is likely to be able to operate a
mine cost less. This obstacle may have skipped. In addition we have
achieved, depending on the method more than 76 percent and 81.1
percent at the rate of exploitation. The third factor is the
aforementioned battery producers play an important role. These look
for a standard of at least 99.5 percent purity lithium carbonate. We
have reached a purity of 99.96 percent. The contamination was only
calcium. After we had removed it, a purity of 99.988 percent was
given. So we have the minimum requirements of the manufacturer
exceeded significantly.
Miningscout: For Georgia Lake you have just published a resource
calculation. What were the main findings of these calculations?
Eunho Lee: When we bought the project, there were already holes with
33,000 meters in total depth on the site. These are data that have
been determined by a public authority. This has allowed us a quick
start on the project and at the same time minimizing the risks.
With two drill programs we have confirmed the old data, and also
collected the data that we have needed for a first NI 43-101 compliant
estimate. We now have 6.7 million tons of resources in the categories
of "inferred" and "indicated". With the holes we tested 5.5 million
tonnes of historical resources. We have been able to expand the
resource to 1.2 million tonnes - that has really encouraged us.
In the hindquarters, we still have about 4.5 million tonnes of
historical resources that we can confirm at a later date in the coming
year. We want to expand the resource at up to 15 million tons, we are
currently at around 11.2 million tonnes and with the current drilling
program, we want to increase the number further. I expect that we will
land at the end of the current drilling 12 to 13 million tons by NI
43-101.
Exploit when we reach the goal of 15 million tons, Georgia Lake we
could over a period of 15 year. We are currently on track to achieve
this goal. These are the messages that are in demand in the market.
Miningscout: How big are the cost of the exploration program that you
have outlined?
Eunho Lee: We currently have approximately 3 million Canadian dollars
in the coffers. To conclude the first half of the Phase II drilling
program by the end of 2011, we spend about one million Canadian
dollars. So we have more than enough money to expand our resource base
to those 12 to 13 million tons. Then we'd probably have to turn to the
market in order to obtain additional financing. Georgia Lake to "mine
ready" to have, we will need approximately 12 million Canadian dollar.
Therefore, we also aim to achieve a higher stock price than before, so
we can minimize dilution effects.
Miningscout: what investments should flow in the millions?
Eunho Lee: We want to continue our drilling programs to expand the
resource base can. We also want to conduct a preliminary economic
assessment, which is created on a pre-feasibility study. We will
therefore start in the first quarter of 2012 and this step will then
conclude in the third quarter of next year. Full calculations we want
to present in 2013. The project will eventually be finished in 2014 so
far, to accommodate the production.
Miningscout: What about the investments for the development of the
mines, for example for infrastructure and transport facilities?
Eunho Lee: The cost of this, we estimate about 200 million Canadian
dollars. We are planning to drive to the mine to the completed
feasibility study forward. We could sell us imagine then a joint
venture with a mining company, Georgia Lake of such Company, and may
retain a portion of the shares. We still have to restart talks with
potential buyers. We have here also a lot of development work for the
company in front of us. I can not go into too much detail, but we are
working.
Miningscout Rock Lake Georgia Tech, in addition to other projects
being worked on. What are the plans from here?
We have conducted some investigations on geophysical properties in
Quebec. We have invested approximately $ 1.2 million for this purpose.
We want to develop projects in the same way as Georgia Lake. Currently
we are in the process of dealing with the geophysical data and to
identify the "hot" targets for drilling. Drilling will then take place
in the years 2012 and 2013, then we want to find commodities. Such
findings, we are then classified according to NI 43-101.
We are looking for a good review of 
by Kevin Corcoran.