Mandrake Resources Ltd (AU:MAN) has released an update.
Mandrake Resources Ltd has announced a significant inferred resource estimate of 3.3 million tonnes of Lithium Carbonate Equivalent at its Utah Lithium Project, marking it as a premier lithium brine asset in the US. The company has also secured a supply agreement with Electroflow Technologies for its direct lithium extraction pilot plant, supported by successful initial testing. Additionally, Mandrake has received a $1 million grant from the US Department of Energy to advance its well re-entry projects, reinforcing its strong financial position with $13.7 million cash on hand.
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