Shares of Datavault AI Inc. (DVLT) surged 16.08% in pre-market trading on Monday, following the announcement of a significant asset digitization deal with MTB Mining Limited. The agreement, valued at $7 million, marks a major milestone for the company in its efforts to revolutionize the mineral resource industry through advanced technology.
Under the terms of the deal, Datavault AI will employ its patented technology to digitize and verify rare earth minerals controlled by MTB Mining, a Tanzania-based company. This process will enable these valuable assets to be traded on the upcoming International Elements Exchange, potentially opening up new avenues for mineral resource commercialization. Additionally, the partnership includes a 30% perpetual royalty agreement, which could provide Datavault AI with a long-term revenue stream.
The collaboration between Datavault AI and MTB Mining aims to modernize the verification, documentation, and commercialization of mineral resources by transforming physical assets into traceable digital assets. This innovative approach could set a new standard in the industry, potentially attracting more partnerships and deals for Datavault AI in the future. Investors appear to be reacting positively to this news, as evidenced by the significant pre-market stock price increase, recognizing the potential long-term value this deal could bring to the company.
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