The company said it will use the public offering for mineral exploration and to assess its Rainbow Lake project, where it uses Cabot Energy’s existing infrastructure to extract lithium as part of the oil and gas production there. (The Logic)
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The company said it will use the public offering for mineral exploration and to assess its Rainbow Lake project, where it uses Cabot Energy’s existing infrastructure to extract lithium as part of the oil and gas production there. (The Logic)
Talking point: Volt is one of a growing cadre of firms looking to extract lithium directly from oilfield brine as more vehicles and power grids switch from fossil-fuel combustion to electric batteries. Volt’s stock fell more than 15 per cent from 26 cents to 22 cents per share after the announcement of the deal, which offered a combination of shares priced at 22 and 24 cents each and warrants with a 33-cent exercise price.
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