Power Minerals: Signs MoU for Salta project, Argentina

Power Minerals Signs MoU for Salta project, Argentina

• Power Minerals (PNN) enters a memorandum of understanding (MoU) with battery metals supply chain company Xiamen Xiangyu New Energy
• The companies will conduct due diligence on Power’s Salta lithium-brine project in Argentina with the goal of executing a binding offtake agreement, subject to certain conditions
• The companies may also pursue negotiations with the aim of executing a binding offtake, funding and logistics agreement
• PNN Executive Director Mena Habib says the MoU marks another “significant step forward” in developing the Salta project
• PNN shares are up 4.82 per cent to trade at 43.5 cents at 1:09 pm AEST