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The latest update is out from Morella Corporation ( (AU:1MC) ).
Morella Corporation has announced significant findings from its Mt Edon project, where substantial rubidium mineralization was intersected in 15 out of 17 drill holes, with notable assays of rubidium and lithium oxides. The company also identified five new lithium targets at West Wodgina, enhancing the project’s potential. Morella successfully raised approximately A$1.4 million to accelerate its exploration activities in Western Australia and Nevada. The collaboration with Interra Resources Limited via the placement of shortfall shares has strengthened Morella’s partnership and provided additional funding for the evaluation of lithium assets. These developments could have a positive impact on Morella’s operational capabilities and its positioning in the mining industry, potentially benefiting stakeholders involved.
More about Morella Corporation
Morella Corporation Limited is a company operating in the mining industry, primarily focusing on the exploration and evaluation of mineral resources. Their key products include rubidium and lithium, and they are involved in a joint venture with Sayona Mining Limited to develop projects in Western Australia, particularly the Mt Edon and West Wodgina projects.
YTD Price Performance: 16.67%
Average Trading Volume: 13,223
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: $4.74M
Learn more about 1MC stock on TipRanks’ Stock Analysis page.
