Ford to significantly increase its planned investments in electric vehicles to $11 billion by 2022…SIE to Drill Shortly
Cobalt Prices traded to new 9 year highs to 34.25 as Ford Motor Co just announced they will significantly increase its planned investments in electric vehicles to $11 billion by 2022. This will continue to put significant upward pressure on Lithium and Cobalt. SIE is fully cash up and will be drilling within weeks.
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NEW WEBSITE- Please Visit:
- New project has 12 old mines on the property
- Project is Year Round Accessible with Paved Roads Right to Drill Targets
- Drill Ready with Drilling Expected in Early 2018
- Battery Metals Demand for Cobalt, Lithium, Nickel at Historically High Level Due to Electric Vehicle Battery Growth
Sienna Resources Increases Placement up To $2.5 million for Cobalt Project Development
Sienna Resources (SIE—TSX.v) (A1XCQ0 –FSE) (SNNAF—OTCBB) is proposing to increase the non-brokered private placement originally announced December 18, 2018 to now consist of up to twelve million five hundred thousand units at 20 cents per unit for gross proceeds of up to $2.5 million. Each unit will consist of one common share in the capital of the company and one transferable share purchase warrant, exercisable at 30 cents for a period of five years. The private placement is subject to approval of the TSX Venture Exchange and was previously announced December 18, 2017. This placement has been fully subcsribed and was actually significantly oversubscribed.
ABOUT SIENNA
Sienna Resources (SIE—TSX.v) (A1XCQ0 –FSE) (SNNAF—OTCBB) is pleased to announce it has launched its new corporate website and branding. Please visit the site atwww.siennaresources.com
Recently Sienna received TSX Venture approval to go forward into an exploration and option agreement to acquire the Slättberg Cobalt-Nickel-Copper Project in Sweden (the “Project”). The Project consists of two adjacent exploration permits comprising approximately 9513 contiguous acres.
Jason Gigliotti president of Sienna states, “We are very pleased to receive approval for this exciting cobalt-nickel-copper prospect. Cobalt prices have just crossed fresh nine year highs as of yesterday, and we look forward to advancing this prospect. There are 12 historic mines on this property and with modern mining approaches, we are very optimistic about what this project could contain. We expect to be drilling early 2018 as the project is drill ready now.”
Slättberg is located 25 kilometers northwest of Falun, Sweden. Slättberg is a historic mining camp hosting cobalt-nickel-copper rich massive sulfide mineralization that occurs within a two kilometer belt of historic nickel-copper mines. The Project contains drill defined massive sulfide mineralization that extends to ~100 meters in depth, and remains open for expansion at depth and along strike. The Project is accessible year round, with nearby rail, power and 5 smelters in the Nordic region. At least 12 historic mines are located on the property, with historic operations dating back to the late 1800’s.
Mineralization at Slättberg is hosted by 1.8-1.9 Ga (Svecofennian) supracrustal rocks (metavolcanics and metasediments) located along the southwestern flank of a large gabbroic intrusive complex. The historic mines are positioned along an east-west trend of massive sulfide occurrences developed in and around a similarly oriented body of “leptite”. This is a local term used to describe rhyolitic/felsic tuffaceous rocks commonly associated with sulfide mineralization in Bergslagen. Mafic and ultramafic rocks also occur in and around the mine workings.
Sweden is at the forefront of an exploration and development boom in the mining industry. The country’s favorable business environment includes a low corporate income tax rate, a proactive geological survey, and broad public support for export-led resource extraction. Sweden has a long history of mining, and is host to some of Europe’s largest active mines.
Northvolt is planning to be the largest battery factory in Europe at roughly the same size as Tesla’s Gigafactory. Jason Gigliotti states “Northvolt wants to locally source as much battery material as possible such as cobalt and nickel. There are now more than 20 mega battery factories currently being planned or constructed globally, creating a massive demand on the battery metals such as lithium, cobalt and nickel. Sienna is focused on exploring and developing projects that will meet this insatiable demand.”
‘Clayton Valley Deep Basin Lithium Brine Project’ in Nevada
The technical contents of this release were approved by Greg Thomson, PGeo, a qualified person as defined by National Instrument 43-101.
If you would like to be added to Sienna’s email list please email [email protected] for information or join our twitter account at @SiennaResources
Contact Information
Tel: 1.604.646.6900
Fax: 1.604.689.1733
www.siennaresources.com
[email protected]
@SiennaResources Twitter
“Jason Gigliotti”
President, Director
Sienna Resources Inc.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.
ARTICLE
DETROIT (Reuters) – Ford Motor Co will significantly increase its planned investments in electric vehicles to $11 billion by 2022 and have 40 hybrid and fully electric vehicles in its model lineup, Chairman Bill Ford said on Sunday at the Detroit auto show.
The investment figure is sharply higher than a previously announced target of $4.5 billion by 2020, Ford executives said, and includes the costs of developing dedicated electric vehicle architectures. Ford’s engineering, research and development expenses for 2016, the last full year available, were $7.3 billion, up from $6.7 billion in 2015.
Ford Chief Executive Jim Hackett told investors in October the automaker would slash $14 billion in costs over the next five years and shift capital investment away from sedans and internal combustion engines to develop more trucks and electric and hybrid cars.
Of the 40 electrified vehicles Ford plans for its global lineup by 2022, 16 will be fully electric and the rest will be plug-in hybrids, executives said.
“We’re all in on this and we’re taking our mainstream vehicles, our most iconic vehicles, and we’re electrifying them,” Ford told reporters. “If we want to be successful with electrification, we have to do it with vehicles that are already popular.”
General Motors Co , Toyota Motor Corp <7203.T> and Volkswagen AG have already outlined aggressive plans to expand their electric vehicle offerings and target consumers who want luxury, performance and an SUV body style – or all three attributes in the same vehicle.
Mainstream auto makers are reacting in part to pressure from regulators in China, Europe and California to slash carbon emissions from fossil fuels. They also are under pressure from
Tesla Inc ‘s success in creating electric sedans and SUVs that inspire would-be owners to line up outside showrooms and flood the company with orders.
GM said last year it would add 20 new battery electric and fuel cell vehicles to its global lineup by 2023, financed by robust profits from traditional internal combustion engine vehicles in the United States and China.
GM Chief Executive Mary Barra has promised investors the Detroit automaker will make money selling electric cars by 2021.
Volkswagen said in November it would spend $40 billion on electric cars, autonomous driving and new mobility services by the end of 2022 – significantly more than when it announced two months earlier it would invest more than 20 billion euros on electric and self-driving cars through 2030.
Ford’s additional investments in electric vehicles contrasted with many of the vehicle launches at the Detroit show which featured trucks and SUVs. On Sunday evening, Daimler AG unveiled its new G-class SUV, a bulky off roader, in an abandoned movie theater in downtown Detroit once used as a set for the movie “8 Mile.”
Daimler CEO Dieter Zetsche hinted to Former California Gov. Arnold Schwarzenegger during an exchange on stage next to the G-class that Daimler would someday have an electric version of the vehicle.
SUVs figured in Ford’s electric vehicle presentation. The automaker’s president of global markets, Jim Farley, said on Sunday that Ford would bring a high-performance electric utility vehicle to market by 2020. The company will begin production of a hybrid version of its popular F-150 truck at a plant in Dearborn, Michigan, in 2020.
“What we learned from this first cycle of electrification is people want really nice products,” Farley said.
‘THINK BIG’
Ford’s shift to the electric vehicle strategy has been more than six months in the making after Hackett replaced former Chief Executive Mark Fields in May.
The plan was finalized in recent months after an extensive review, a person familiar with the process said. In October, Ford disclosed it had formed a team to accelerate global development of electric vehicles, whose mission is to “think big” and “make quicker decisions.”
Some of the electric vehicles will be produced with Ford’s JV in China aimed at the Chinese market. One aim of Ford’s “Team Edison” is to identify and develop electric-vehicle partnerships with other companies, including suppliers, in some markets, according to Sherif Marakby, vice president of autonomous vehicles and electrification.
China, India, France and the United Kingdom all have announced plans to phase out vehicles powered by combustion engines and fossil fuels between 2030 and 2040.
(Reporting by Nick Carey and Joseph White; Additional reporting by David Shepardson in Detroit; Editing by Peter Cooney and Muralikumar Anantharaman)
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