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The latest update is out from Rain City Resources ( (TSE:RAIN) ).
Rain City Resources, in collaboration with Avonlea Lithium Corporation, has successfully completed a pilot test of its proprietary ACCELi technology, which extracts lithium from brine sourced from fracking in the Marcellus Shale, Pennsylvania. The pilot test confirmed the technology’s ability to yield high-purity lithium phosphate and other saleable by-products, demonstrating significant potential for commercial lithium extraction facilities in Pennsylvania and possibly in regions like Chile and Argentina. This development positions Rain City as a leader in dealing with variable brine chemistry in real-time, and the company plans to expand its operations by partnering with Kendra II to develop ACCELi Cavitek plants across Pennsylvania.
Spark’s Take on TSE:RAIN Stock
According to Spark, TipRanks’ AI Analyst, TSE:RAIN is a Underperform.
Rain City Resources, Inc. struggles with severe financial issues, including zero revenue and increasing losses. The stock is technically weak, trading below all major moving averages. While recent corporate events show promise in lithium extraction, the lack of current financial performance heavily impacts the overall score.
To see Spark’s full report on TSE:RAIN stock, click here.
More about Rain City Resources
Rain City Resources is an integrated critical mineral technology and project development company focused on addressing the environmental, social, and economic challenges associated with extracting lithium and other critical minerals from brine.
Average Trading Volume: 631,694
Technical Sentiment Signal: Sell
Current Market Cap: C$2.06M
Find detailed analytics on RAIN stock on TipRanks’ Stock Analysis page.