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MTM claims stake in booming battery market

22 March 2022
ASX: MTM
Jack Baker

Mt Monger Resources acquired three projects, all holding the potential for a bevy of fast-selling metals across the highly prospective Ravensthorpe district inland of Western Australia’s southern coast.

The finalised move expands the explorer into a critical region holding world-class battery metal deposits while identified anomalies grow its status as a significant rare earth district.

Any finds of the potential lithium, graphite, nickel, copper, cobalt, platinum group elements or rare earth would be huge, all holding critical input across several sectors and a price to match.

The company said exploration plans were already well underway.

“Unprecedented focus by governments and the private sector to decarbonise and increase renewable energy uptake is driving a demand surge, market tightness and significant price appreciation in these commodities,” managing director Lachlan Reynolds said.

Mt Monger will continue to implement plans in conjunction with other opportunities across Western Australia.

MTM’s Australian Stock Exchange-listed price has risen 10.34 per cent today, selling at 16c (12.21 pm UTC+ 8 hours).

COMPANY OVERVIEW

Mt Monger Resources Limited was incorporated in November 2020 for the purpose of consolidating several gold exploration projects in the Mt Monger region of Western Australia.

COMPANY INFORMATION

ASX: MTM

Website

https://mtmongerresources.com.au/
https://www2.asx.com.au/markets/company/mtm

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