Pantera Minerals’ EnergyX Stake Re-Rated to A$42.6M After Raise Price Increase to US$13

EnergyX Share Price Rise Boosts Pantera Valuation

Pantera Minerals (ASX:PFE) has seen the value of its 2.34 million Energy Exploration Technologies Inc. (EnergyX) shares jump to approximately A$42.6 million after EnergyX increased the price of its ongoing Regulation A capital raise to US$13 per share. This marks a roughly 37% gain on Pantera’s original entry price of US$9.50 per share, adding about A$8.6 million in paper value since the initial acquisition tied to the Smackover Lithium project sale.

Operational Milestones Underpin Re-Rating

The re-rating follows EnergyX’s commissioning of its Texas-based lithium demonstration plant in March 2026, designed to produce around 250 tonnes per annum of lithium hydroxide. This facility validates EnergyX’s proprietary GET-Lit™ Direct Lithium Extraction technology at commercial scale, a critical step to de-risking the platform’s commercial prospects. Pantera’s CEO Barnaby Egerton-Warburton highlighted the improved sentiment in the lithium sector and the renewed confidence in U.S. critical minerals as key drivers behind the uplift.

EnergyX’s engagement of Goldman Sachs to support its partnerships and capital markets strategy, alongside a US$690 million letter of interest from the EXIM Bank for Project Black Giant in Chile, further bolster investor confidence. The company has raised approximately US$170 million to date, with successive pricing tranches rising from US$10 to US$13 per share over the past year, reflecting growing validation of its vertically integrated lithium platform.

Pantera’s Broader Critical Minerals Strategy

Beyond EnergyX, Pantera is advancing its own critical minerals projects in the U.S., particularly the Gillham Project in Arkansas. Recent assays have revealed high-grade antimony up to 3.92% Sb and extensive multi-element soil anomalies, setting the stage for a maiden drilling program. This progress was detailed in Pantera’s March update, where the company confirmed multiple priority drill targets and a rapidly advancing exploration timeline.

Pantera remains fully funded for its current exploration activities, with deferred payments linked to the Smackover transaction scheduled for July 2026 and April 2027. The company’s strategy spans lithium, antimony, copper, silver, and rare earth elements, focusing on projects that align with U.S. supply chain security priorities.

Value Catalysts Ahead for Pantera

The uplift in EnergyX’s valuation not only enhances Pantera’s balance sheet but also maintains exposure to potential future milestones including commercial-scale lithium production at Lonestar (targeting 50,000 tonnes per annum), project financing, strategic partnerships, and possible liquidity events. Meanwhile, Pantera’s own exploration milestones, particularly the imminent drilling at Gillham, represent near-term catalysts that could unlock further value.

Pantera’s dual exposure to EnergyX’s lithium technology platform and its own critical minerals projects positions the company to benefit from the improving lithium price environment and growing investor interest in U.S. domestic supply chains. This dynamic was underscored by the recent launch of EnergyX’s lithium demonstration plant, which marked a tangible step towards commercial production.