PMT - Patriot Battery Metals

[JohnDe]

Strong support from Macquarie -

 

[Dona Ferentes]

Patriot Battery Metals has entered a $C109 million ($123 million) private placement with NYSE-listed chemicals giant Albemarle.

Albemarle will subscribe for just over 7 million of Patriot Battery Metals TSX-V-listed shares at $C15.29 apiece, which represents a 7 per cent premium to the company’s most recent closing price.

Once closed, Albemarle will hold a 4.9 per cent stake in the lithium explorer on a fully-diluted, in-the-money basis.

“I believe both Patriot and Albemarle can be a big part of building out the required front-end to the lithium chemicals supply chain in North America and Europe over the coming years,” chief executive Blair Way said.

“The additional funding will allow us to more aggressively advance the Corvette property through drilling, permitting, study work and more,”

 

[Dona Ferentes]

from Livewire Markets

Patriot announces a massive resource as lithium markets extend downtrend

Earlier this month, Patriot established itself as the largest lithium pegmatite mineral resource in the Americas and the 8th largest globally, at 109.2 million tonnes at grades of 1.42%.
The resource announcement also came with a C$109 million strategic investment from Albemarle, held at C$15.29 per share (7% premium to last close). The raise was well received with the stock rallying 10.6% the next day.

While the company is kicking goals, lithium price are saying otherwise. A recent Fastmarkets article noted a few bearish insights:

• “There were barely any spot trades over the past week, and the spot prices are still falling. The downtrend could persist into the near future,” a Chinese lithium producer source said.
• “The consumers are cautious and staying on the sidelines. They believe spot lithium prices in China haven’t reached a bottom yet,” a second Chinese lithium producer source said.

Despite broader market headwinds, Patriot CEO Blair Way added another 4,000 shares ($48,794) to bring his total direct holdings to 635,470

 

[bk1]

Every time the price has fallen toward the $1 value, it has been defended ...

 

[Boggo]

This mornings news, this guy should get the stock turned around.

 

[debtfree]

Patriot sniffs pegmatite grades of 3.58% among the snows of Quebec​

ASX News, Materials - ASXMT MCAP $503.5M​

Caroline Smith - caroline.smith@themarketonline.com.au 07 May 2024 12:24(AEST)

A new high-grade zone of lithium within one pegmatite – with grades measuring up to 3.58 percent – has provided Patriot Battery Metals Ltd (ASXMT) with more good news from its program of winter drilling at Canadian play Corvette.
The market was happy with the announcement, as Patriot’s share price rose 7.59 percent from market open, trading at 85 cents by 12:22 pm AEST.
The new zone – which included 34.4 metres at 2.90 percent lithium oxide (Li2O), including 21 metres at 3.58 percent Li2O – was discovered within the CV13 spodumene pegmatite, whose mineralisation was observed to be shallow and open in multiple directions.
What’s more, the focus of this work was building confidence in the pegmatite itself ahead of a maiden mineral resource estimate (MRE), which will accompany an updated estimate for another pegmatite – CV5 – estimated for release in the third quarter of 2024.
Patriot Battery Metals vice president of exploration Darren L. Smith said the team was excited about the high-grade discovery at CV13, particularly in terms of what it revealed about the territory’s wider potential.
“This hole (CV24-470) is the widest, most well-mineralized drill hole to date from CV13 and includes multiple samples over 5 percent Li2O,” he said.
“This discovery was made at the tail end of the program; however, we were able to follow-up with multiple additional holes prior to break-up.
“We are eagerly awaiting the assay results from these follow-up drill holes as we work to
refine the geological model ahead of a maiden MRE at CV13, on track for the third quarter of 2024.”
Located in the Eeyou Istchee James Bay region of Quebec, Corvette was the subject of a winter drill program totalling 166 holes for 62,518 metres, with most of the focus on CV5 (with 121 holes), although 45 holes were also drilled at CV13.

 

[Dona Ferentes]

Every time the price has fallen toward the $1 value, it has been defended ...

And 75c, as well?
.
since listing:

.
Patriot has been active, of late.

 

[dyna]

In for a wild ride with this horror ! Once again , thanks to Captain Chaza's Sunday tipoff .
Got 10 grand worth of PMT today at 41.5 cents .
Finger hovering over the sell button in case she takes a swan dive . You just can't tell with this speccie stuff .