Drilling Hits Stronger Hydrogen at Lawson 2, Boosting Commercial Hopes
MAXXF has more than doubled off its 52-week low of $0.18.
Summary
MAX Power's Lawson 2 well has reached 2,370 meters and encountered a natural hydrogen-rich fracture zone with readings stronger and more continuous than the original discovery well. Helium spikes further support the exploration model. This is the first well in a multi-well commercial validation program, and the results so far suggest the resource could be larger or more productive than initially thought. The company plans a second coring phase, with completion testing to follow. Independent validation from GLJ Ltd. is expected, building on their prior confirmation of prospective hydrogen accumulations. The news adds technical momentum to the Saskatchewan natural hydrogen play, where MAX Power recently expanded its land position by over 50%.
At the time of this announcement, MAXXF was trading at $1.38 on OTC in the Energy & Transportation sector, with a market capitalization of approximately $192.3M. The 52-week trading range was $0.18 to $2.10. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: FinanceWire.