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Patagonia Lithium Limited ( (AU:PL3) ) has provided an update.
Patagonia Lithium has entered a non-binding strategic partnership agreement with US-listed Ameerex Corporation to support investment in its flagship Formentera lithium project in Argentina, as well as its Brazilian niobium and rare earth projects. Ameerex, which is focused on co-investing in mining and clean-energy transition minerals, will assess and recommend how best to invest at both company and project level, potentially via private placements, providing Patagonia Lithium with an additional capital pathway beyond its recent A$2.68 million raising to advance drilling, resource definition and scoping studies on its growing lithium portfolio.
The most recent analyst rating on (AU:PL3) stock is a Hold with a A$0.06 price target. To see the full list of analyst forecasts on Patagonia Lithium Limited stock, see the AU:PL3 Stock Forecast page.
More about Patagonia Lithium Limited
Patagonia Lithium Ltd (ASX: PL3) is a lithium exploration company focused on brine projects in Argentina’s lithium triangle and critical minerals in Brazil. Its key assets include the Formentera/Cilon project in Salar de Jama and the Tomas III project at Incahuasi Salar, alongside five Brazilian exploration concession packages targeting ionic rare earth element clays, niobium, antimony and lithium in pegmatites, including ground adjacent to Brazil’s largest niobium producer.
Average Trading Volume: 115,862
Technical Sentiment Signal: Buy
Current Market Cap: A$11.46M
Learn more about PL3 stock on TipRanks’ Stock Analysis page.