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Mandrake Resources Advances Utah Lithium Project with 3.3Mt Resource and US$1M DOE Grant
8:18am on Thursday 23rd of January, 2025 AEDT
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Mining
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Mandrake Resources Advances Utah Lithium Project with 3.3Mt Resource and US$1M DOE Grant
8:18am on Thursday 23rd of January, 2025 AEDT
Key Points
Maiden Inferred Resource estimate of 3.3Mt Lithium Carbonate Equivalent at Utah Lithium Project
Awarded US$1 million funding grant from the US Department of Energy
Plans to re-enter existing wells to produce large brine volumes for pilot plants
Strong cash position of A$13.5 million with no debt
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