Dundee Securities coverage on Lithium Sector: TNR.V, CLQ.V, WLC.v

http://research.dundeesecurities.com/Research/Lithium102809.pdf

Dundee is one of the well-respected research houses in Canada.

Dundee Bank of Canada is a Schedule I Canadian Chartered bank. We are a member of the Canada Deposit Insurance Corporation.

Dundee Bank of Canada is purpose-built specifically to serve professional financial advisors. We offer innovative and rate-competitive banking products backed by professional sales support, service and execution. Our objective is to help advisors build their business by providing them with better options for their clients. Our commitment to advisors is that we will not cross-sell, solicit or prospect an advisor’s clients.

Dundee trades under the symbol DW on the TSX:Exchange and is now about $12CDN/share.

Similar to the Byron Securities' Lithium overview - Dundee offers a breakdown on the current supply versus demand of lithium, from rough approximation of production figures to comparing it on per vehicle lithium-carbonate requirements.

All very fascinating read. They also then list out credible groups on the TSX and provide an update/background on each. Our favorite small junior exploration group is featured, of course.

TNR Gold Corp./International Lithium

TNR Gold was an early mover in acquiring lithium properties and has assembled a package of eight properties that continues to grow. The projects are located in diverse geographical locations with pegmatites in Canada and Ireland and brine projects in Nevada and Argentina. TNR Gold plans a spin out of its lithium and rare earth element assets into International Lithium Corp. in the first quarter of 2010. The company will also be looking for joint venture partners to move their extensive property portfolio forward.

Lithium One Inc.

Lithium One’s primary focus is the 1,700 hectare James Bay project in northern Quebec. Several pegmatite dyke swarms have been identified by surface mapping. Drilling and trenching was undertaken in 2009 and most reported intercepts and channel samples have been in the 1.3% to 1.7% Li2O range. Lithium One estimates that true widths of the dykes are up to 30m wide. The company has also recently acquired over 25,000 hectares of land in Argentina with surface brine samples containing high levels of lithium and potash (averaging of 640 ppm Li)

Canada Lithium Corp.

Canada Lithium’s (CLQ) primary focus is its past-producing Quebec Lithium Project. CLQ is also looking at other spodumene pegmatite deposits in Canada and has a 75% interest in a joint venture exploring for lithium brine deposits in Nevada. CLQ has commenced a pre-feasibility study on Quebec Lithium and is aiming for a completed feasibility study in 2010. CLQ suggested in March 2009 that it had materially advanced its lithium carbonate metallurgical process and could ultimately produce battery quality lithium carbonate. Quebec Lithium is located 60 km north of Val d’Or and produced for ten years in the 1950’s and 60’s. Spodumene rich dikes were extracted from an underground operation. An historic resource of 15.6 million tonnes with a grade of 1.14% Li2O remained following a ten year operation.