Canada Lithium Corp

Published : October 14th, 2008

Buffett's Berkshire Buys Into China Battery Maker BYD

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Black Pearl Minerals Consolidated Inc. SnapMail

October 14, 2008
Toronto, Ontario

TSX.V
Symbol: BLK

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Buffet's Berkshire Buys Into China Battery Maker BYD

``The rationale behind this investment is BYD's unique exposure to both lithium-ion battery as well as its related hybrid electric vehicle business,'' according to Merrill Lynch analyst Daniel Kim, who rates BYD shares ``buy.'' The ``HEV market growth is exploding.''

Buffett's Berkshire Buys Into China Battery Maker BYD (Update1)

By Bei Hu

Sept. 27 (Bloomberg) -- Billionaire Warren Buffett's Berkshire Hathaway Inc. agreed to pay HK$1.8 billion ($231 million) for a minority stake in BYD Co., China's largest maker of rechargeable batteries.

Berkshire Hathaway unit MidAmerican Energy Holdings Co. will buy 225 million BYD shares, equivalent to a stake of about 10 percent, in the Shenzhen-based manufacturer, according to a statement issued through Business Wire today.

Omaha, Nebraska-based Berkshire Hathaway is tapping into rising global demand for environmentally friendly technology. The partnership with MidAmerican would help BYD bring its electric vehicles and other environmental protection measures to the global market, Wang Chuanfu, the Chinese company's chairman, said in the statement.

``As worldwide discussions relating to global climate change and environmental respect continue, the technologies being developed by BYD will be an integral part of the future,'' MidAmerican Chairman David Sokol said in the statement.

BYD aims to start selling gasoline-electric hybrid cars in the U.S. as early as 2010, joining larger rivals such as General Motor Corp. and Toyota Motor Corp., it said in January. It also plans to roll out its first all-electric auto in China next year.

Global Crisis

The BYD investment comes as companies including the largest U.S. financial institution, court high-profile investors such as Berkshire Hathaway after the global credit crisis wiped out $8 trillion of value from world stock markets since Oct. 31, according to data compiled by Bloomberg.

Berkshire Hathaway this week bought $5 billion of perpetual preferred stock in Goldman Sachs Group Inc.

BYD last month announced first-half profit fell 7 percent as costs for raw materials such as oil surged, wiping out a 44 percent increase in sales. BYD's share price has more than halved since peaking on Oct. 31. The stock edged up 0.7 percent to HK$8.40 on Sept. 26.

BYD shares fell to a five-month low on June 30 after Hong Kong's High Court dismissed its request to halt a lawsuit filed by Foxconn International Holdings, the world's biggest contract maker of mobile phones, for allegedly stealing trade secrets.

To contact the reporter on this story: Bei Hu in Hong Kong at bhu5@bloomberg.net

Buffett's MidAmerican Appoints Sokol to BYD Board (Update2)

By Mark Lee

Sept. 29 (Bloomberg) -- Warren Buffett's MidAmerican Energy Holdings Co. named Chairman David Sokol to the board of BYD Co., after the U.S. company agreed to buy a stake of about 10 percent in China's biggest rechargeable batteries maker.

MidAmerican and BYD will co-operate on the development of rapid-charge batteries for storing power from wind and solar generation, Sokol said in a briefing in Hong Kong today. MidAmerican, a unit of Buffett's Berkshire Hathaway Inc., will become the biggest non-Chinese investor in Shenzhen, south China-based BYD after agreeing to pay HK$1.8 billion ($232 million) for the stake.

BYD shares surged by a record in Hong Kong trading today. JPMorgan Chase & Co. called Buffett's investment a ``huge vote of confidence,'' while Merrill Lynch & Co. said the 78-year-old billionaire investor was probably drawn by the Chinese company's rechargeable batteries used in hybrid vehicles.

``The rationale behind this investment is BYD's unique exposure to both lithium-ion battery as well as its related hybrid electric vehicle business,'' according to Merrill Lynch analyst Daniel Kim, who rates BYD shares ``buy.'' The ``HEV market growth is exploding.''

MidAmerican's decision to invest in BYD follows two months of talks between the companies, BYD Chairman Wang Chuanfu said at today's briefing. The investment will allow the Chinese company to accelerate spending in its auto business, he said.

Revenue Jumped

First-half profit fell 7 percent to 596 million yuan ($87 million), BYD reported last month, as raw material costs increased. Revenue jumped 44 percent to 12.4 billion yuan on increased sales of automobiles and handset components, it said.

BYD plans to introduce the energy-efficient F0 automobile in the second half, the company said last month. The battery maker aims to sell hybrid cars in the U.S. as early as 2010, Wang said in January.

``The technologies being developed by BYD will be an integral part of the future,'' Sokol said in a Sept. 27 statement that cited the Chinese company's focus on environmental products.

MidAmerican ``will make additional investments over time if it makes sense for BYD,'' Sokol said today. The stake in BYD is for the long term, he said.

Gain Assets

The proposed investment in BYD follows MidAmerican's announcement this month that it would buy Constellation Energy Group Inc. for about $4.7 billion. MidAmerican, which has utilities in the west and Midwest of the U.S., will gain Constellation's assets including three nuclear plants and other power stations in the east of the country.

BYD gained 42 percent, the most since the shares made their debut in July 2002, to close at HK$11.90. BYD Electronic Co., the company's handset component unit, rose by a record 21 percent to HK$2.11 in Hong Kong trading today.

MidAmerican will subscribe to new BYD shares at HK$8 each, a discount of 4.8 percent from the Chinese company's closing price on Sept. 26, according to a statement filed to the Hong Kong stock exchange by the battery maker today. The U.S. power producer gains the right to name one director to BYD's board, at present comprising six persons.

BYD chairman Wang is the biggest shareholder in the Chinese company with a stake of more than 28 percent, according to today's statement. Director Lu Xiangyang owns a 11.7 percent holding.

Value Partners Group Ltd. Chairman Cheah Cheng Hye is at present the biggest international investor in BYD, controlling 74.6 million shares, according to Hong Kong exchange data. This is equivalent to a 3.5 percent stake in the battery maker, based on its share capital of 2.05 billion shares.

Buffett's Berkshire booked a $3.5 billion profit last year from selling a stake in PetroChina Co., helping Omaha-based Berkshire Hathaway post record earnings last year.

To contact the reporter on this story: Mark Lee in Hong Kong at wlee37@bloomberg.net



SnapMail is a Service of www.RMC.mobi
Black Pearl Minerals Consolidated Inc.
130 Adelaide Street West, Suite 2700
Toronto Ontario Canada
M5H 3P5

Tel: 416-361-2821
Email: jbaker@blackpearlminerals.com
Web: www.blackpearlminerals.com
� 
.
� 
Black Pearl Minerals Consolidated Inc. SnapMail

October 14, 2008
Toronto, Ontario

TSX.V
Symbol: BLK

� 

Buffet's Berkshire Buys Into China Battery Maker BYD

``The rationale behind this investment is BYD's unique exposure to both lithium-ion battery as well as its related hybrid electric vehicle business,'' according to Merrill Lynch analyst Daniel Kim, who rates BYD shares ``buy.'' The ``HEV market growth is exploding.''

Buffett's Berkshire Buys Into China Battery Maker BYD (Update1)

By Bei Hu

Sept. 27 (Bloomberg) -- Billionaire Warren Buffett's Berkshire Hathaway Inc. agreed to pay HK$1.8 billion ($231 million) for a minority stake in BYD Co., China's largest maker of rechargeable batteries.

Berkshire Hathaway unit MidAmerican Energy Holdings Co. will buy 225 million BYD shares, equivalent to a stake of about 10 percent, in the Shenzhen-based manufacturer, according to a statement issued through Business Wire today.

Omaha, Nebraska-based Berkshire Hathaway is tapping into rising global demand for environmentally friendly technology. The partnership with MidAmerican would help BYD bring its electric vehicles and other environmental protection measures to the global market, Wang Chuanfu, the Chinese company's chairman, said in the statement.

``As worldwide discussions relating to global climate change and environmental respect continue, the technologies being developed by BYD will be an integral part of the future,'' MidAmerican Chairman David Sokol said in the statement.

BYD aims to start selling gasoline-electric hybrid cars in the U.S. as early as 2010, joining larger rivals such as General Motor Corp. and Toyota Motor Corp., it said in January. It also plans to roll out its first all-electric auto in China next year.

Global Crisis

The BYD investment comes as companies including the largest U.S. financial institution, court high-profile investors such as Berkshire Hathaway after the global credit crisis wiped out $8 trillion of value from world stock markets since Oct. 31, according to data compiled by Bloomberg.

Berkshire Hathaway this week bought $5 billion of perpetual preferred stock in Goldman Sachs Group Inc.

BYD last month announced first-half profit fell 7 percent as costs for raw materials such as oil surged, wiping out a 44 percent increase in sales. BYD's share price has more than halved since peaking on Oct. 31. The stock edged up 0.7 percent to HK$8.40 on Sept. 26.

BYD shares fell to a five-month low on June 30 after Hong Kong's High Court dismissed its request to halt a lawsuit filed by Foxconn International Holdings, the world's biggest contract maker of mobile phones, for allegedly stealing trade secrets.

To contact the reporter on this story: Bei Hu in Hong Kong at bhu5@bloomberg.net

Buffett's MidAmerican Appoints Sokol to BYD Board (Update2)

By Mark Lee

Sept. 29 (Bloomberg) -- Warren Buffett's MidAmerican Energy Holdings Co. named Chairman David Sokol to the board of BYD Co., after the U.S. company agreed to buy a stake of about 10 percent in China's biggest rechargeable batteries maker.

MidAmerican and BYD will co-operate on the development of rapid-charge batteries for storing power from wind and solar generation, Sokol said in a briefing in Hong Kong today. MidAmerican, a unit of Buffett's Berkshire Hathaway Inc., will become the biggest non-Chinese investor in Shenzhen, south China-based BYD after agreeing to pay HK$1.8 billion ($232 million) for the stake.

BYD shares surged by a record in Hong Kong trading today. JPMorgan Chase & Co. called Buffett's investment a ``huge vote of confidence,'' while Merrill Lynch & Co. said the 78-year-old billionaire investor was probably drawn by the Chinese company's rechargeable batteries used in hybrid vehicles.

``The rationale behind this investment is BYD's unique exposure to both lithium-ion battery as well as its related hybrid electric vehicle business,'' according to Merrill Lynch analyst Daniel Kim, who rates BYD shares ``buy.'' The ``HEV market growth is exploding.''

MidAmerican's decision to invest in BYD follows two months of talks between the companies, BYD Chairman Wang Chuanfu said at today's briefing. The investment will allow the Chinese company to accelerate spending in its auto business, he said.

Revenue Jumped

First-half profit fell 7 percent to 596 million yuan ($87 million), BYD reported last month, as raw material costs increased. Revenue jumped 44 percent to 12.4 billion yuan on increased sales of automobiles and handset components, it said.

BYD plans to introduce the energy-efficient F0 automobile in the second half, the company said last month. The battery maker aims to sell hybrid cars in the U.S. as early as 2010, Wang said in January.

``The technologies being developed by BYD will be an integral part of the future,'' Sokol said in a Sept. 27 statement that cited the Chinese company's focus on environmental products.

MidAmerican ``will make additional investments over time if it makes sense for BYD,'' Sokol said today. The stake in BYD is for the long term, he said.

Gain Assets

The proposed investment in BYD follows MidAmerican's announcement this month that it would buy Constellation Energy Group Inc. for about $4.7 billion. MidAmerican, which has utilities in the west and Midwest of the U.S., will gain Constellation's assets including three nuclear plants and other power stations in the east of the country.

BYD gained 42 percent, the most since the shares made their debut in July 2002, to close at HK$11.90. BYD Electronic Co., the company's handset component unit, rose by a record 21 percent to HK$2.11 in Hong Kong trading today.

MidAmerican will subscribe to new BYD shares at HK$8 each, a discount of 4.8 percent from the Chinese company's closing price on Sept. 26, according to a statement filed to the Hong Kong stock exchange by the battery maker today. The U.S. power producer gains the right to name one director to BYD's board, at present comprising six persons.

BYD chairman Wang is the biggest shareholder in the Chinese company with a stake of more than 28 percent, according to today's statement. Director Lu Xiangyang owns a 11.7 percent holding.

Value Partners Group Ltd. Chairman Cheah Cheng Hye is at present the biggest international investor in BYD, controlling 74.6 million shares, according to Hong Kong exchange data. This is equivalent to a 3.5 percent stake in the battery maker, based on its share capital of 2.05 billion shares.

Buffett's Berkshire booked a $3.5 billion profit last year from selling a stake in PetroChina Co., helping Omaha-based Berkshire Hathaway post record earnings last year.

To contact the reporter on this story: Mark Lee in Hong Kong at wlee37@bloomberg.net



SnapMail is a Service of www.RMC.mobi
Black Pearl Minerals Consolidated Inc.
130 Adelaide Street West, Suite 2700
Toronto Ontario Canada
M5H 3P5

Tel: 416-361-2821
Email: jbaker@blackpearlminerals.com
Web: www.blackpearlminerals.com
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Canada Lithium Corp

DEVELOPMENT STAGE
CODE : CLQ.TO
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Canada Lithium is a gold development stage company based in Canada.

Canada Lithium develops gold and lithium in Canada, and holds various exploration projects in Canada.

Its main asset in development is QUEBEC LITHIUM in Canada and its main exploration property is TULLY GOLD in Canada.

Canada Lithium is listed in Canada. Its market capitalisation is CA$ 86.9 millions as of today (US$ 66.6 millions, € 56.3 millions).

Its stock quote reached its lowest recent point on December 26, 2008 at CA$ 0.05, and its highest recent level on December 31, 2010 at CA$ 6.69.

Canada Lithium has 362 204 000 shares outstanding.

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Annual reports of Canada Lithium Corp
2007 Annual report
Financings of Canada Lithium Corp
9/22/2008Private Placement 1st Tranche Closes
Nominations of Canada Lithium Corp
8/12/2013Appoints Former FMC Process Plant Manager at Val d'Or Proces...
6/1/2012Appoints General Manager; Process Plant Manager
3/21/2012Appoints Former Senior
12/1/2011Provides Update on Québec Lithium Project; Appoints Vice
1/24/2011(Quebec Lithium)Appoints Quebec-based GENIVAR
5/12/2010Appoints BBA Inc. to conduct
10/7/2009Appoints New CFO and Investor Relations Direc
Project news of Canada Lithium Corp
10/4/2013Announces Project Update
6/20/2013Project Update
4/4/2013Announces Project Update
3/20/2013Announces Water Discharge; Mine and Plant Commissioning Cont...
1/31/2013Provides Project Update
1/7/2013Goes 'Prime Time' Tonight on Discovery Channel
8/23/2012Announces Project On Track for Year-end Commissioning; Lithi...
7/10/2012Project Update: Major Process Equipment Received; Full-time ...
4/23/2012Secures C$92-million financing; long lead-time equipment arr...
9/23/2011Announces Drill Results including 32 metres grading 1.29% Li...
8/25/2011Announces Drill Results and Permitting Update
7/6/2011Announces Key Personnel Appointments and Equipment Purchases...
6/21/2011Files NI 43-101 Compliant Feasibility Study Technical Report...
5/30/2011(Quebec Lithium)Granted Construction Permit for Québec Lithium Project
5/2/2011(Quebec Lithium).: Default Announcement Pursuant to National Policy 12-203
4/11/2011(Quebec Lithium)to Vigorously Defend Lawsuit
3/17/2011(Quebec Lithium)Appoints AMC Mining
3/13/2011(Quebec Lithium)Provides Background Information on the Quebec Lithium Projec...
2/28/2011(Quebec Lithium)Canada Lithium Appoints Quebec-based GENIVAR Inc. to Manage ...
7/6/2010(Quebec Lithium)Project update; drilling intersects 66.3 metres grading
3/22/2010(Quebec Lithium)plans 42.6-million-lb-per-year lithium carbonate mine by lat...
3/4/2010(Quebec Lithium)Completes 43-101 resource estimate
1/20/2010(Quebec Lithium)Intersects higher-grade lithium and confirms depth potential...
11/2/2009(Quebec Lithium)Doubles Conceptual Target Estimate To 29-30 Million Tonnes G...
Corporate news of Canada Lithium Corp
1/21/2014Sirocco and Canada Lithium announce new
12/24/2013Receives $10-Million Bridge Loan
12/4/2013Sirocco and Canada Lithium combining to form
11/18/2013Posts Milestone Achievement with First Continuous Lithium Ca...
11/13/2013Completes $14.4-Million
10/22/2013Announces $12.5 Million Bought Deal Public Offering
9/16/2013(Quebec Lithium)Resumes Commissioning of Quebec Lithium Plant
9/3/2013Announces $5-Million Prepayment from Off-take Partner Tewoo-...
8/29/2013To Vigorously Defend Against a Class Action Lawsuit Related ...
8/21/2013Announces Process Plant Maintenance/Upgrade Program; Commiss...
7/24/2013Produces Battery-Grade Lithium Carbonate in Initial Sample
7/5/2013Announces Completion of
7/2/2013Produces Initial Run of 99.1% Lithium Carbonate; Awarded ISO...
5/15/2013Completes Offering of $27.6
5/10/2013announces grant of option to
5/7/2013Announces CSA Approval to Operate its Process Plant Kiln
4/29/2013Announces $21.1 Million Convertible Debenture Bought Deal Fi...
4/22/2013Commissioning Update
4/12/2013Announces Project Update and Appointment of New CFO
3/27/2013Announces Results of Water Discharge Tests; Metal Levels Wit...
3/25/2013Completes $15 Million Offering
2/15/2013Granted up to $6.5 million for Lithium Metal Pilot Plant fro...
1/10/2013Signs Off-take Agreement with Marubeni for up to 5,000 tonne...
10/29/2012Completes Initial Debt Drawdown; Commences Tailings Construc...
10/11/2012Completes Updated Feasibility Study; Significant Increase in...
6/6/2012Announces Closing of
6/4/2012Announces Receipt of
5/30/2012Closes $30 Million Equity
5/23/2012Announces Pricing of $30
5/1/2012Announces Filing of
3/1/2012will be attending the 2012 Prospectors and Developers Associ...
3/1/2012has recently been in the news following the announcement of ...
2/13/2012Announces C$75-million Debt
10/25/2011featured in prestigious mining publication
6/13/2011Confirms Québec Lithium
6/13/2011Confirms Québec Lithium Mine Viability; Schedules Site C...
5/16/2011Announces Revised Mineral
8/10/2010Signs Purchase Agreement to Sell Tully Gold Prospect
7/26/2010Chosen for world's first
6/29/2010Read all about it: Canada Lithium adds electric-vehicle news...
6/23/2010Listed on Senior TSX Exchange
5/18/2010Gains Listing on U.S. Trading
3/29/2010CEO sees soaring demand as electric vehicles gain popularity
11/23/2009launches pilot-scale metallurgical test; undertakes review o...
11/5/2009Focuses on Advanced Quebec Project; Relinquishes Interest in...
10/14/2009Initiates Environmental Impact Study
10/5/2009And Gold Summit Complete Drilling at Nevada
9/30/2009Produces 99.6% Battery-Grade Lithium From Tes
9/5/2008Debenture Redemption
9/5/2008BLK Sale to Cuprus of Ferro and Wekusko Options
9/5/2008BLK Sale to Cuprus of Ferro and Wekusko Options
9/5/2008BLK Sale to Cuprus of Ferro and Wekusko Options
8/19/2008 Debenture Redemption
6/25/2008Acquires Nevada Lithium Brine Prospect
10/17/2007Final batch of results from Glacier drilling and further pro...
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TORONTO (CLQ.TO)
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TORONTO
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