ExGen Acquires Three New Lithium Properties in Nevada, Significantly Expanding Footprint
BXXRF has more than doubled off its 52-week low of $0.008 on light trading volume (0.2× avg).
Summary
ExGen Resources Inc. (BXXRF) has signed a purchase agreement to acquire an interest in three new lithium properties in Nevada, including options for the Spark South, Libra, and Augusta lithium projects, and a 1.5% net smelter returns royalty. This acquisition is described as greatly expanding ExGen's Nevada lithium interests, strategically positioning the company in a region known for its lithium potential, near projects like Surge Battery Metals Inc.'s high-grade Nevada North Lithium Project. The move aims to capitalize on the significant investor attention in Nevada's lithium industry, exemplified by Lithium Americas Corp.'s (LAC) Thacker Pass project. This expansion of assets is a material development for the small-cap company, potentially enhancing its long-term resource base and valuation in the growing electric vehicle supply chain. Investors will watch for further exploration results and development plans for these newly acquired properties.
At the time of this announcement, BXXRF was trading at $0.08 on OTC in the Energy & Transportation sector, with a market capitalization of approximately $8.5M. The 52-week trading range was $0.01 to $0.43. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: GlobeNewswire.