- Shares of Vancouver-based junior miner Powermax Minerals (CSE:PMAX) began trading on the CSE on Friday
- The company holds an option to acquire the 2,984-hectare Cameron rare earth elements property, an exploration project in British Columbia’s Kamloops Mining Division
- Powermax Minerals is a Canadian mineral exploration company
- Powermax stock last traded at C$2 per share
Shares of Vancouver-based junior miner Powermax Minerals (CSE:PMAX) began trading on the CSE on Friday. The listing follows a recently issued prospectus for special warrants enabling the distribution of 2,534,000 shares and accompanying purchase warrants.
Powermax holds an option to acquire the 2,984-hectare Cameron rare earth elements property, an exploration project in British Columbia’s Kamloops Mining Division. The company intends to explore Cameron for economical resources while strategically acquiring interests in other properties.
Rare earth elements are globally sought after for their ability to reduce the size and bolster the efficiency of electronics essential to the energy transition, including in wind turbines, fuel cells and electric vehicles. The elements’ widespread utility grants them a multi-billion-dollar market expected to grow 3-7 times over the coming decades.
Canada is positioned to play a major role in satiating demand for rare earths, housing 15.2 million tons of rare earth oxide in resources and reserves as of 2023, according to Natural Resources Canada.
Leadership insights
“With China dominating the production of rare earth minerals, it is good to see a Canadian company exploring for domestic reserves,” James Black, the CSE’s vice president of listings development, said in a statement. “We are pleased to list the shares of Powermax Minerals and wish the company success with its exploration program.”
“Listing on the CSE is a significant milestone for Powermax and its investors,” added Michael Malana, Powermax Minerals’ chief executive officer. “The CSE listing provides greater visibility within the Canadian capital markets, enhancing the company’s ability to raise capital as it moves forward with its exploration programs.”
About Powermax Minerals
Powermax Minerals is a Canadian mineral exploration company.
Powermax stock (CSE:PMAX) last traded at C$2 per share.
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