Mandrake Resources Ltd ( (AU:MAN) ) has issued an announcement.
Mandrake Resources Limited has announced the lodging of a Notice of Intent for a new well at its Utah Lithium Project, with permitting underway for additional drill sites. The company is prioritizing permitting and data optimization to ensure swift resumption of operations once market conditions improve, despite current field operations being on hold due to weak lithium market conditions. Mandrake is well-positioned financially, with $13.5 million in cash, and is exploring new project acquisitions in precious and base metals.
More about Mandrake Resources Ltd
Mandrake Resources Limited is a company operating in the mining and resources sector, focusing on the exploration and development of lithium projects. The company is primarily engaged in the Utah Lithium Project, which hosts a significant inferred resource of lithium carbonate equivalent. Mandrake is also exploring opportunities in precious and base metals both in the United States and globally.
Average Trading Volume: 16,000
Technical Sentiment Consensus Rating: Buy
Current Market Cap: €6.97M
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