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Sorrento Resources Ltd. ( (TSE:SRS) ) has issued an update.
Sorrento Resources Ltd. has finalized an amended and restated option agreement to acquire up to 100% of the Bottom Brook rare earth element property in Newfoundland, issuing 9,000,000 common shares and an additional 900,000 shares as a finder’s fee. This acquisition strengthens Sorrento’s position in the rare earth elements sector, potentially enhancing its market presence and offering significant opportunities for growth in the mineral exploration industry.
More about Sorrento Resources Ltd.
Sorrento Resources Ltd. is engaged in the acquisition, exploration, and development of mineral property assets in Canada. The company focuses on locating and developing economic precious, rare-earth element, gold, and base metal properties, including the Bottom Brook REE Project, Rodgers Cove Gold, and the Harmsworth VMS project, all located in Newfoundland.
Average Trading Volume: 76,278
Technical Sentiment Signal: Strong Buy
Current Market Cap: C$6.68M
For a thorough assessment of SRS stock, go to TipRanks’ Stock Analysis page.