PMET Resources Could 'Significantly' Cut Canada Project Operating Costs Through Caesium By-Product, Euroz Says

MT Newswires Live01-23

PMET Resources (ASX:PMT) could "significantly" reduce operating costs at its Shaakichiuwaanaan property in Canada by selling caesium as a by-product, according to a Thursday report by Euroz Hartleys.

On Thursday, the company said it found wide and high-grade lithium at the Vega zone within its property following infill drilling.

Results include 55 meters at 2.58% lithium oxide, including nearly 30 meters at 4.11% lithium oxide, and nearly 25 meters at 4% lithium oxide, including 7 meters at 6.04% lithium oxide, the company said.

It also said core assay results for caesium are pending for multiple holes at the CV13 pegmatite.

This shows potential for the company to access caesium credits on future production, Euroz added.

Euroz expects work to undertake a bulk sample of caesium at the project to occur mid-year.

It maintained the company's speculative buy rating and its AU$0.95 price target.

Shares of the company rose 1% in recent Friday trade.

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