MAX Power Expands Lawson Hydrogen System with Record Readings and 470K New Acres
MAXXF has more than doubled off its 52-week low of $0.228 on light trading volume (0.3× avg).
Summary
MAX Power's Lawson 4 well hit the highest natural hydrogen readings to date at 2,310.5 meters, intersecting a deep crustal fault, while Lawson 3 triangulated a large system. The company is preparing Lawson 5, its largest step-out, targeting the Salt Wall edge 27-31 km northeast. It also added 470,000 acres of permits, bringing its Saskatchewan position to ~2.5 million acres. This follows the $10M Sprott placement in August and the July expansion of permits by 50%. The drilling results validate the system's scale and could support a resource estimate.
At the time of this announcement, MAXXF was trading at $2.25 on OTC in the Energy & Transportation sector, with a market capitalization of approximately $313.5M. The 52-week trading range was $0.23 to $2.44. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: FinanceWire.