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PowerStone Metals Corp. ( (TSE:LIBR) ) just unveiled an update.
Libra Energy Materials has reinterpreted its 100%-owned Penelope Project in Brazil, concluding that the asset is more prospective for rare earth elements, niobium, tantalum and gallium than for lithium, based on high-grade geochemical results and NYF-type pegmatite signatures. As a result, the company will deprioritize lithium-focused work at Penelope and seek to monetize or option the project to a partner or buyer with REE expertise, while planning a low-cost auger drilling program to better define the scale and depth of the rare earth opportunity.
More about PowerStone Metals Corp.
Libra Energy Materials Inc. is a Canadian mineral exploration company focused on critical minerals for the green energy transition, including lithium, graphite, cobalt and other battery-related commodities. Its portfolio spans projects in Ontario and Quebec, as well as an extensive suite of lithium, graphite and cobalt assets in Brazil, and includes a CAD $33 million earn-in partnership with KoBold Metals on several Ontario properties.
Average Trading Volume: 87,111
Technical Sentiment Signal: Buy
Current Market Cap: C$11.68M
Find detailed analytics on LIBR stock on TipRanks’ Stock Analysis page.