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An announcement from Mandrake Resources Ltd ( (AU:MAN) ) is now available.
Mandrake Resources Limited has reported significant progress in its Utah Lithium Project, which boasts an Inferred Resource estimate of 3.3 million tonnes of Lithium Carbonate Equivalent. The company is developing a comprehensive brine flow model to optimize exploration by identifying high-grade lithium zones, and has issued a Notice of Intent for a new well, ‘MAN A’, which is strategically located near existing infrastructure. With a strong cash position of $13.3 million and no debt, Mandrake is well-positioned to advance its operations and capitalize on the growing demand for lithium.
More about Mandrake Resources Ltd
Mandrake Resources Limited is an Australian company focused on the exploration and development of mineral resources. The company is primarily engaged in the lithium industry, with its flagship project being the Utah Lithium Project, a top-tier US-domiciled lithium brine asset. Mandrake is also exploring opportunities in precious and base metals to enhance shareholder value through strategic inorganic growth.
Average Trading Volume: 841,638
Technical Sentiment Signal: Sell
Current Market Cap: A$13.17M
See more insights into MAN stock on TipRanks’ Stock Analysis page.