Pantera Minerals' (ASX: PFE) EnergyX investment strengthened as EnergyX advances Utah lithium project with Compass Minerals
Jane Morgan Management
Key Facts:- Pantera Minerals holds a strategic 2.34 million share investment in EnergyX, currently estimated at an indicative carrying value of approximately A$42 million.
- EnergyX has signed a non-binding Memorandum of Understanding with Compass Minerals to advance a proposed commercial-scale Direct Lithium Extraction and refinery facility in Utah, near the Great Salt Lake.
- The proposed facility, named Project Powder Hound™, would be EnergyX's second flagship US lithium project alongside its Smackover Formation operations in Texas and Arkansas.
- EnergyX would design, fund, construct and operate the facility using its proprietary GET-Lit™ Direct Lithium Extraction technology, leasing land and infrastructure from Compass Minerals, which would incur no capital costs.
- For Pantera, the development expands the project portfolio linked to its EnergyX shareholding, providing indirect exposure to EnergyX's growing US lithium platform.
Pantera Minerals Limited (ASX: PFE) has welcomed a major development from Energy Exploration Technologies Inc. (“EnergyX”), in which Pantera holds a strategic 2.34 million share investment, after EnergyX signed a non-binding Memorandum of Understanding with Compass Minerals Inc. (NYSE: CMP) to advance a proposed commercial-scale Direct Lithium Extraction and refinery facility in Utah.
The proposed Project Powder Hound™ facility would be located on Compass Minerals-owned land near the Great Salt Lake and would become EnergyX’s second flagship U.S. lithium project, alongside its Smackover Formation operations in Texas and Arkansas.
Under the indicative terms announced by EnergyX, EnergyX would design, fund, construct and operate the proposed facility, while leasing land and infrastructure from Compass Minerals and paying a lithium production licence fee. Compass Minerals would not incur capital costs in connection with the project.
The project is proposed to be powered by EnergyX’s proprietary GET-Lit™ Direct Lithium Extraction technology.
For Pantera, the announcement expands the underlying project portfolio linked to its strategic EnergyX shareholding, providing indirect exposure to EnergyX’s growing U.S. lithium platform.
Pantera’s 2.34 million share interest in EnergyX is currently estimated to have an indicative carrying value of approximately A$42 million, based on EnergyX’s most recent priced capital raising.
Pantera Chairman & CEO Barnaby Egerton-Warburton commented:
“The Announcement by EnergyX is a significant step in the evolution of the company in which Pantera holds a strategic interest. Project Powder Hound™ - alongside a Tier-1 counterparty in Compass Minerals - expands the underlying U.S. lithium platform supporting our holding and reinforces the rationale for the position Pantera took in EnergyX. We will continue to keep shareholders informed of material developments.”
EnergyX’s announcement is available here: https://energyx.com/press-release/project-powder-hound/
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About us:
ABOUT PANTERA MINERALS
Pantera Minerals Limited (ASX: PFE OTCQB: PTMLF) is a forward-looking critical minerals exploration and development company focused on advancing projects in critical minerals across the United States with a particular focus on Arkansas. The Company is committed to leveraging modern exploration methods – including geochemistry, geophysics, and advanced modelling – to unlock value in regions historically mined for critical minerals, which are recognised by the U.S. government as essential to supply chain security.
Contact details:
For further information, please contact:
Barnaby Egerton-Warburton
Executive Chairman and CEO
E: [email protected]
P: +61 (0) 437 291 155
Jane Morgan
Investor Relations
E: [email protected]
P: +61 (0) 405 555 618