 Want to learn about stocks, cryptocurrencies, NFTs, and the metaverse? Join RichTV.io. Hi, how's everybody doing today? I'm your host Rich, here with RichTV Live and our very special guest, the CEO of Grounded Lithium Corp, Greg Smith. How you doing today, Greg? I'm doing great, Richard. How about you? I'm doing fantastic. Really excited to have you on the show. We absolutely love Lithium. And I wanna bring all the viewers' attention to the symbols. GRD in Canada and GRDAF in America, newly listed on the OTCQB exchange. And my first question, Greg, is you had some big news on Tuesday, December 13th, announcing some positive operational updates. Can you go through what it means for the company to be producing 18,000 barrels a day? No, thanks. That's a great question. And welcome to my humble office. We're in the Lowrent District of Calgary and I don't mean any offense to our landlord, but that's the way we roll. This first well was very important to us, Rich, because it proved up our entire investment thesis. And one of the big things that we really needed to prove was deliverability, which was something we've been saying all along because in the economics of a Lithium project, you don't just need strong Lithium concentrations. You need lots of brine volume in the ground and the ability to deliver it in economic qualities. So this well sort of improved all of our points, including the fact that it's shallow. This is the shallowest place to pursue Lithium from brines in Western Canada that we've identified to date. So that helps control our costs. But we know from economics that in our models, if we were producing it half of the 18,000 barrels per day, we can generate pretty good rates of return at those production rates. But we need this high volume because ultimately for an economic project, you're gonna move a lot of volume brine out of a number of wells through a facility to extract the Lithium. So this was a key component to our investment thesis. And this well is for us, it's proving up all of the key elements of why here? Why did we choose to work on these lands as grounded Lithium? Fantastic. And we love hearing when CEOs are in low rent situations because we love to really analyze companies balance sheets. We love to analyze share structures to really understand the fundamentals of the company. And when you're in a low rent situation, that means you're really focused on the burn. So that's really key for us. So thank you for that. Now, my second question is, including the news that came out on Tuesday, can you tell us what were the top three accomplishments for the company in 2022? Well, I'm gonna cheat on you on this question. I'm gonna make it four. Okay, great. A year ago when we started down this road, we had 35 sections of land. Now we're over 300 sections of land and we've continued to grow that land position through the year with a number of key events. Number two, we've raised money several times this year and we achieved the public listing both in Canada and in the US. Those are key accomplishments for us to get ourselves out into the public eye. We produced not one, but two resource reports. Reports that we're very proud of. And lastly, as a key accomplishment, we drilled and production tested our first well. And we accomplished that in one year. So we're the type of guys that like to get things done and we like to get them done quickly as we move forward towards our ultimate vision of commerciality. Fantastic. Now with the company being well-funded which you mentioned, what are your three biggest goals for 2023? Well, great question. Well, we see the next big event for us as being a preliminary economic assessment. Everything we do every day is guided by the vision and we talk about this with our team. Our vision is commercial production of lithium salts in an environmentally responsible manner. So we're moving that forward as quickly as we can. And the next big, big, big hurdle, if you want, is that preliminary economic assessment. But to get there, we have a number of other things to do along the way. One of them is already done. The resource report is a key element that goes into that analysis. Number two would be, well, what's the technology you're gonna use to extract it? We've commenced a project in partnership with Patch Engineering and a consultant. We've hired a consultant to work internally with us that has worked on direct lithium extraction projects for other parties in Western Canada. And with between those experts, we're targeting a number of four companies that were evaluating their technology against our resource. We then have to have for that preliminary economic assessment or PEA, we need to have, what is it gonna cost you to do this? Well, we already have a good idea what our wells are gonna cost, but we're gonna have to build up the cost structure for our infrastructure and our facility. And as there's a great deal of similarity in all of the technologies that we're evaluating, we can start to cost out a lot of these items now. So we've got a lot of smaller hurdles in terms of costing, resource, and probably do a lab pilot as well. And we've got the brine to do the lab pilot. We've got all these smaller hurdles taking us towards that PEA, which we wanna accomplish as early as possible in 2023. So that's our most significant hurdle right now that we're pushing hard towards. Well, I'm sure you guys are well on your way to set up yourselves for a huge 2023. Now, grounded lithium announces 28% increase in total inferred LCE resource to 3.7 million tons. What impact does this result have on overall corporate valuation? Well, ultimately that corporate valuation will be determined by the marketplace and the investors. But certainly we feel it's a significant event and we think it warrants an increase in our valuation. The one thing that I can say about how we've gone about our accumulation of resource is we're not just accumulating lands because we think we can add in a resource report. It has to meet our vision of commerciality. So it's a very strict process that we go into targeting our lands, which is maybe why we don't have as much land as others. But at the same time it's a good number and it's very targeted. We believe all of the lands that we've accumulated to date we can take towards commerciality and that comes back to our corporate vision. So we think it's worth a rewrite and we're proud of that 3.7 million but we're also very proud of how this, the rigor that we apply to this. We come and all of our professionals in the house come from the oil and gas industry. So the one thing that we do understand is fluid flow dynamics underground and we've applied that same rigor to what we're doing in lithium from brides. Now you mentioned that a lot of rigor went into this process. Can you expand more on what this means? And did you not use a similar approach to the report completed back in April of this year? Yes, very early on when we started down this path and we started to look at what would be required for commercial projects, you had to understand the subsurface fluid dynamics because make no mistake, if you're doing lithium from brine you're moving a lot of fluid out from underneath the ground at depths between 900 and 2500 meters. So you need to understand well, how does that fluid flow happening and how do all the wells that you're producing from affect each other? So we built that model up front. We said, we need to have this. And that model is, it's incredible. It's got seven million cells. There's 14 layers across a very large area. And what we put into that model is all the rock properties. We determine the rock properties from looking at the rock regionally and also looking at the logs and the log character. And the other thing we have to do is when you do logging of a well, you have a porosity measurement. That porosity measurement has assumptions based on what rock type it believes you're measuring. So you have to correct that to the rock type because there's rocks that will show porosity that have no effect to porosity whatsoever. So we need to do all of those corrections so that we have a very accurate representation of the porosity and the thickness in the layers across all of the lands. Now, that will ultimately help us in terms of our fluid dynamic understanding, but where it helps us today is because we've got a three-dimensional model. We can then go and say, okay, how much does this land have? How much brine volume does this section of land have? We can be very precise about what is the volume of brine across our area. We're not using a simple assumption of on average, it's this thick and it has an average porosity of this. We are very precise about what we're doing. That's a benefit of having built this model and we don't have the hardware or software in-house. Nobody would really. You have to go to specialists to get access to that. So we've gone through that, but we did that for the first one as well. So when we came to doing the second one, what we could do was just say, okay, well, we've got more land. Well, we need to factor that into the calculations. We've got more data. We've drilled our well, we've done some more work. We can add in more information into that model and then put out an answer. It's almost mechanical once you get to having built it all in the past. So this model is live and every time we add more information to it, we can update it. And it's paying dividends in terms of for us, in terms of predicting what wells can do and how they will perform in the long run as well. Well, we're excited to see everything unfold. Now it looks like shareholders have a lot of great catalysts to look forward to. But before we end the interview today, if there was one thing that you would want shareholders to know about grounded lithium corp, what would that be? I've kind of touched on it, but I think it's about our process. And it's very targeted. And we have an experienced team of professionals in an office working on these issues every day. And we know where we're going. So it's a very much a targeted approach that we're taking to the industry. And we look forward to updating everybody as we progress down this value chain, continually being able to demonstrate the value of how we're approaching the project, the project that we have and the value that's hidden within it. Greg, my final question is, if there's any questions from any investors or shareholders or potential investors, what is the best way for them to get in touch with Grounded Lithium Corp? Yeah, we're an open book. We have a website that has all of our contacts, www.groundedlithium, all one word, dot com. Easy to find and our contacts are there and we're more than happy to answer questions about our process and what we're doing. So please feel free to reach out and join our mail distribution list that's on the website as well. Fantastic, we're here today with the CEO of Grounded Lithium Corp, Greg Smith. I wanna remind you guys the symbols in Canada, GRD, in America, GRDAF. And also wanna remind you that Rich TV Live is strictly for information and education purposes. Please do your due diligence, do your research before you invest in anything we talk about or discuss. In saying that, I do believe this is a company that is undervalued, underappreciated, under-exposed with electrification of electric vehicles being mandated by countries all over the world. Really, some countries saying that they wanna go 100% electric by 2030, some countries wanna be 50% electric by 2030, we believe that lithium is gonna be one of the key elements that's really gonna benefit from electrification of electric vehicles. So thank you for the hard work and dedication you're putting in to serve a major need because there's really a major shortage in lithium and Greg Smith and Grounded Lithium Corp is trying to provide a service for that need. So thank you for your time. Thank you for your effort, Greg Smith, the CEO of Grounded Lithium Corp. And we'd love to invite you back again in the future. If you ever have any big breaking news or anything you wanna discuss, we'd love to invite you back to Rich TV Live, Greg. Thanks, Rich. We look forward to talking to you again in the future. Always a pleasure, keep up the great work. And for those of you that are watching at home, if you're not winning, you're probably not watching, we bring you the winners and we bring the two first. Thank you for watching, everybody, and have a nice day.