Wall Street Signals: SNET - SourcingLink.net (OTC Pink: SNET) - Lithium Claims - Tesla Motors, Inc. Backbone

SNET - SourcingLink.net (OTC Pink: SNET) - Lithium Claims - Tesla Motors, Inc. Backbone

SNET - SourcingLink.net (OTC Pink: SNET) - Lithium Claims - Tesla Motors, Inc. Backbone

SNET may not be at these levels much longer.

SourcingLInk.net (OTC Pink: SNET) is New to EmergingGrowth.com.

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Sourcing Link.net (OTC Pink: SNET)  is a little known lithium exploration and drilling company that has yet to benefit from the lithium rally.

Gold’s rally may be soaking up a majority of the headlines and limelight, but there is one commodity that has outperformed gold while remaining mostly under the radar. While goldis up nearly 20% year to date through June 2016 with one of its best performances in over three years, lithium prices outperformed in 2015 and are primed to continue its massive rally.

San Diego, CA-based SourcingLink.net, Inc. (OTC Pink: SNET) is an emerging lithium/rare earth company exploring the Lac Fire and Eldor properties in Quebec, Canada.The company is exploring eight claims in the Lac Fire property and also 34 claims (3,951 acres) on the Eldor property.

Lithium carbonate prices were around $6,000 per ton back in 2014, but have since risen to $13,000 per ton in 2016, and some prices even as high as $23,000 per ton has been paid by China this year, as demand ramps up. The enormous demand for lithium comes as Goldman Sachs Group (NYSE: GS) calls lithium the “new gasoline,” and the commodity is seen as the key to the electric car future.

Tesla Motors Inc (NASDAQ: TSLA) founder and chief executive office, Elon Musk, has been one of the major drivers of price appreciation in lithium carbonate prices this year.

Musk believes that with the new gigafactory going up in Nevada, Tesla will be able to produce 500,000 electric Tesla vehicles per year by the year 2020. “In order to produce a half million cars per year…we would basically need to absorb the entire world’s lithium-ion production,” detailed Elon Musk on the gigafactory progress.

As of June 2016, SourcingLink.net, Inc. (OTC Pink: SNET) had a market value of $5.2 million. In addition, the lithium explorer and developer had 900 million authorized shares, 41.61 million shares outstanding, and a float of 5.92 million, as of April 2016.

SourcingLInk.net (OTC Pink: SNET) is New to EmergingGrowth.com.
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