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TSX Venture Bear Market Now 1,000 Days and Counting [Chart]

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TSX Venture Bear Market Now 1,000 Days and Counting [Chart]

The Chart of the Week is a weekly Visual Capitalist feature on Fridays.

Last week, our friends at Palisade Capital, a merchant bank, sent us over a chart breaking up the S&P/TSX Venture Index into its booms and busts since the beginning of 2002. The index, which broadly represents the thousands of companies listed on the TSX Venture exchange, has reached a new ominous milestone.

“The most recent bear market for the TSX Venture began on April 11, 2011 and has now passed 1,000 trading days in length,” said Sean Zubick, Co-founder and COO of Palisade Capital, “That’s more than all bear markets combined since the beginning of 2002.”

The most recent re-wiring of the index was in the aftermath of the Dotcom bubble. This makes it even accurate to say that the current bear market is longer than all other downturns combined in the entire history of the index as we know it.

All previous downturns have occurred over the course of 802 trading days. The current bear market? Now over 1,000 trading days.

The majority of the companies on the index are listed as being in the business of materials (38%) and energy (30%), and these sectors have been in unprecedented slumps. As we previously noted, there is a “miner problem” in that there is a swath of zombie companies that have $2.15 billion of negative working capital on their books.

This type of systematic trouble is not something that gets rectified overnight, and that’s part of the reason the market is in such a mess.

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Mining

White Gold: Mapping U.S. Lithium Mines

In this graphic, Visual Capitalist partnerered with EnergyX to explore the size and location of U.S. lithium mines.

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Teaser graphic of a map that shows the sizes of the top U.S. lithium mines.

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The following content is sponsored by EnergyX

White Gold: Mapping U.S. Lithium Mines

The U.S. doubled imports of lithium-ion batteries for the third consecutive year in 2022, and with EV demand growing yearly, U.S. lithium mines must ramp up production or rely on other nations for their supply of refined lithium.

To determine if the domestic U.S. lithium opportunity can meet demand, we partnered with EnergyX to determine how much lithium sits within U.S. borders. 

U.S. Lithium Projects

The most crucial measure of a lithium mine’s potential is the quantity that can be extracted from the source.

For each lithium resource, the potential volume of lithium carbonate equivalent (LCE) was calculated with a ratio of one metric ton of lithium producing 5.32 metric tons of LCE. Cumulatively, existing U.S. lithium projects contain 94.8 million metric tons of LCE.

RankProject NameLCE, million metric tons (est.)
1McDermitt Caldera21.5
2Thacker Pass19.1
3Tonopah Flats18.0
4TLC Lithium10.7
5Clayton Valley (Century Lithium)6.3
6Zeus Lithium6.3
7Rhyolite Ridge3.4
8Arkansas Smackover (Phase 1A)2.8
9Basin Project2.2
10McGee Deposit2.1
11Arkansas Smackover (South West)1.8
12Clayton Valley (Lithium-X, Pure Energy)0.8
13Big Sandy0.3
14Imperial Valley/Salton Sea0.3

U.S. Lithium Opportunities, By State

U.S. lithium projects mainly exist in western states, with comparatively minor opportunities in central or eastern states.

StateLCE, million metric tons (est.)
Nevada88.2
Arkansas4.6
Arizona2.5
California0.3

Currently, the U.S. is sitting on a wealth of lithium that it is underutilizing. For context, in 2022, the U.S. only produced about 5,000 metric tons of LCE and imported a projected 19,000 metric tons of LCE, showing that the demand for the mineral is healthy.  

The Next Gold Rush?

U.S. lithium companies have the opportunity to become global leaders in lithium production and accelerate the transition to sustainable energy sources. This is particularly important as the demand for lithium is increasing every year.

EnergyX is on a mission to meet U.S. lithium demands using groundbreaking technology that can extract 300% more lithium from a source than traditional methods.

You can take advantage of this opportunity by investing in EnergyX and joining other significant players like GM in becoming a shareholder.

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