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Ascent Resources ( (GB:AST) ) has shared an update.
Ascent Resources Plc, along with its partner American Helium, has entered into an option agreement with Neometals Ltd and Omaha Value to explore and potentially extract lithium and potash from mineral-rich brines in the Paradox Basin, Utah. This agreement represents a strategic move to monetize Ascent’s existing acreage without upfront drilling costs, utilizing existing infrastructure to reduce time and expenses. The deal highlights Ascent’s multi-commodity potential and aims to unlock additional value from its assets with minimal shareholder dilution. The agreement includes a 60-day exclusivity period for due diligence, with financial terms involving fees and royalties based on future brine production.
More about Ascent Resources
Ascent Resources Plc is an onshore US-focused oil and gas company. The company is involved in the exploration and potential extraction of critical minerals, such as lithium and potash, from mineral-rich brines. Ascent operates primarily in the Paradox Basin, Utah, leveraging existing oil and gas infrastructure to explore new monetization pathways.
Average Trading Volume: 5,492,100
Technical Sentiment Signal: Sell
Current Market Cap: £3.45M
Learn more about AST stock on TipRanks’ Stock Analysis page.