Cashed Up For Exploration Batteries need a wide variety of resources in order to produce them effectively. With the demand increasing rapidly, the prices of all battery-related minerals have increased, creating a really profitable environment for companies to be in production of all types of these resources. And this growth is expected to continue over the next decade.
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EMIN owns portfolios in Brazil and Canada, with the one in Brazil being especially interesting.
- Recently increased the land package by around 700%, giving them an additional 22,000 hectares, making them one of the largest holders in the region.
- The licenses are located to the west of giants such as the large Xuxa lithium deposit of Sigma Lithium, and to the northwest of the CBL lithium mining operation.
With a focus on both lithium and rare earths, the recent financing tranche is expected to support exploration in Brazil. They were able to raise over $823,375 from this tranche and $337,500 from the previous tranche allowing them to have ample cash for 2023’s plans. The current valuation of just $7M definitely is interesting to keep an eye on as they continue to pursue development and add value to their properties. With the $1M+ cash now on hand, there will be a lot of catalysts to look out for.