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FAQ: Powermax Minerals' Rare Earth Element Portfolio Expansion
TL;DR
Powermax Minerals gains strategic advantage by acquiring the Pinard Rare Earths Project and expanding its North American portfolio amid projected tripling global REE demand by 2035.
Powermax Minerals completed its first milestone payment and share issuance under an option agreement to acquire 100% of the 5,178-hectare Pinard Rare Earths Project in northern Ontario.
Powermax Minerals' North American rare earth exploration supports domestic supply chains, reducing reliance on foreign sources and contributing to sustainable technology development for a better future.
Powermax Minerals identified high-priority rare earth targets with TREE values up to 1,947 ppm at its Atikokan Project, showcasing promising geological discoveries in Ontario.
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Powermax Minerals has completed its first milestone payment and share issuance to acquire 100% of the Pinard Rare Earths Project in northern Ontario and identified new high-priority rare earth element targets at its Atikokan Project.
Global demand for rare earth elements is projected to triple by 2035, and Powermax's portfolio expansion supports North American domestic supply chains amid policies favoring local resources.
The Pinard Project covers 255 contiguous claims across 5,178 hectares in northern Ontario within an alkaline intrusive complex comparable to nearby REE-bearing systems. Powermax issued 160,000 common shares and paid $18,000 as the first milestone, with future payments totaling $90,000 over three years.
A new geoscience interpretation at the Atikokan Project identified multiple high-priority REE targets, including a structural-geochemical corridor with total rare earth element values up to 1,947 ppm.
Powermax's diversified REE portfolio spans Ontario, British Columbia, and Wyoming, including its 100%-owned Ogden Bear Lodge Project bordering a U.S. Department of Energy-funded REE district.
The company confirmed the transaction in a November 13 update, marking progress on a multi-year option agreement.
The agreement includes a 1.5% net smelter royalty with a buyback option, allowing Powermax to reduce the royalty percentage.
The latest news and updates are available in the company's newsroom at https://ibn.fm/PWMXF.
It addresses growing global demand while supporting domestic supply chain policies, reducing reliance on foreign sources for critical minerals.
Curated from InvestorBrandNetwork (IBN)
