PMT has announced the discovery of a new spodumene pegmatite cluster, CV15. The discovery reaffirms the strong regional exploration potential at Shaakichiuwaanaan. The new discovery has yet to be drilled, however we are encouraged by the large surface footprint outlined to date. Drilling at Shaakichiuwaanaan has been largely focused on CV5 and CV13, with only minor programs carried out on some of these regional targets to date. We expect PMT will increase drilling focus on the regional targets once the CV5 study has been released and approvals process commences. PMT remains well funded post the strategic investment by Volkswagen. Exploration results from the regional program testing for extensions between CV5 and CV13 remain a key potential near-term catalyst for PMT. We are reiterating our BUY rating and keep our ASX and TSX price targets unchanged at A$0.95 and C$8.60.
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