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An update from Madoro Metals Corp ( (TSE:MDM) ) is now available.
Madoro Metals has signed a letter of intent to acquire all Québec assets of Australian private company Narrow River Resources, in a deal expected to qualify as a reverse takeover under TSX Venture Exchange rules. The proposed transaction will consolidate the companies’ neighbouring properties in the Decelles mining camp, creating one of the largest land packages in this emerging lithium belt with at least 350 exploration rights covering a minimum of 20,000 hectares near other lithium projects. Management and key investors say the combination will concentrate exploration efforts on lithium while also targeting gold and other minerals, provide NRR with a public-market vehicle and broaden access for investors, and position the resulting issuer as a significant claim holder focused on advancing Québec-based lithium and critical mineral exploration.
More about Madoro Metals Corp
Madoro Metals Corp. is a Vancouver-based mining exploration company focused on hard rock lithium and other critical mineral projects in Québec, Canada. The company operates primarily in emerging lithium belts, targeting large-scale exploration properties in the Abitibi Temiscamingue region and positioning itself within Québec’s growing role as a key jurisdiction for lithium and critical minerals.
Average Trading Volume: 153,846
Technical Sentiment Signal: Buy
Current Market Cap: C$5.46M
See more data about MDM stock on TipRanks’ Stock Analysis page.