Executes Option for 100% Interest in Pocitos 2 The lithium market is expected to grow at the fastest pace among all resources. With the rise in EVs and government goals aiming for an electric-focused future, prices have already been near all-time highs, and more recently, the lithium mining crackdown in China is impacting nearly 10% of the already short supply. It just shows why NA-produced lithium is so important, especially as the US Government attempts to promote more domestic car manufacturing to occur.
$RR.C is taking advantage of the market growth with their continued exploration efforts and recent land acquisition.
- They just exercised the 100% option to acquire the 532-hectare Pocitos 2 lithium brine project after increasing the potential resource at Pocitos 1 by 65% following an extremely successful drilling program.
- Drilling from Pocitos 1 assayed 169 PPM and over a two-week period averaging 161 PPM Lithium exceeding expectations and that of the measured lithium content of the 2018 wells.
- Pocitos 2 is permitted to drill two additional wells immediately at $RR.C’s will.
https://ca.finance.yahoo.com/news/recharge-resources-executes-option-acquire-080100757.html
Most importantly, $RR.C is a near-revenue generating company. They’re planning on building up a 20,000-tonne Ekosolve lithium plant, and with lithium selling at nearly $70,000 USD/tonne, the current $16.7M valuation doesn’t reflect the potential and progress they’ve made. Definitely, a lot of upside left here.