Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
Pursuit Minerals Ltd ( (AU:PUR) ) has issued an announcement.
Pursuit Minerals has completed a pre-feasibility study for its wholly owned Rio Grande Sur lithium brine project in Argentina, confirming a technically robust and economically viable operation designed to produce 5,000 tonnes per year of lithium carbonate equivalent over 25 years. The PFS outlines strong project economics with a net present value of US$364 million, an internal rate of return of 22.4%, a seven-year payback period, and projected operating costs of about US$6,521 per tonne LCE, underpinned by an upgraded JORC resource of 1.264 million tonnes LCE and a maiden probable ore reserve of about 125,000 tonnes LCE. The company has also secured an oversubscribed A$7 million capital raising from institutional and sophisticated investors to fund further drilling at Rio Grande Sur, expansion drilling at the nearby Mito tenement to support potential future production growth, advance its Sascha Marcelina Gold Project, and bolster working capital, reinforcing its development pipeline and positioning in the lithium sector.
More about Pursuit Minerals Ltd
Pursuit Minerals Ltd is an ASX-listed mineral exploration and development company focused on lithium brine projects, notably its 100%-owned Rio Grande Sur Project in Salta Province, Argentina. The company is progressing Rio Grande Sur as a large-scale lithium carbonate operation, while also advancing exploration at its Sascha Marcelina Gold Project, targeting growth in the battery metals and precious metals sectors for global markets.
Average Trading Volume: 600,255
Technical Sentiment Signal: Sell
Current Market Cap: A$22.57M
For detailed information about PUR stock, go to TipRanks’ Stock Analysis page.