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Mandrake Resources Ltd ( (AU:MAN) ) has shared an announcement.
Mandrake Resources has joined a consortium with Idaho National Laboratory, the National Laboratory of the Rockies and the University of Utah that has secured US$1 million in funding from the US Department of Energy to characterise and estimate lithium and other critical mineral reserves in Utah’s Paradox Basin. The grant, awarded under the DoE’s Geothermal Technologies Office, validates the potential of Mandrake’s Utah Lithium Project and provides access to leading US scientific expertise and laboratories, supporting detailed geological, hydrological and environmental studies of direct lithium extraction while the company prepares to re-enter existing wells for brine testing and sampling, a move that could enhance project economics and further embed Mandrake in US domestic lithium supply efforts.
The most recent analyst rating on (AU:MAN) stock is a Hold with a A$0.02 price target. To see the full list of analyst forecasts on Mandrake Resources Ltd stock, see the AU:MAN Stock Forecast page.
More about Mandrake Resources Ltd
Mandrake Resources Limited is an ASX-listed exploration company focused on advancing a large-scale lithium project in the prolific ‘lithium four corners’ Paradox Basin in south-eastern Utah, USA. The company targets lithium brines, seeking to position itself within the emerging North American critical minerals supply chain, with particular emphasis on supplying lithium for green technologies and energy storage markets.
Average Trading Volume: 967,640
Technical Sentiment Signal: Sell
Current Market Cap: A$14.43M
For a thorough assessment of MAN stock, go to TipRanks’ Stock Analysis page.