PMT - PMET Resources Inc.

[System]

Patriot Battery Metals Inc. is a mineral exploration company focused on the acquisition and development of mineral projects containing battery, base and precious metals.

The Company’s 100% holdings of the Corvette Lithium Property is over 200 square kilometers of the newly discovered Corvette lithium district.

Collectively, the Corvette Property is now comprised of 417 contiguous claims, totaling 21,357 ha, and covers a more than 50 km strike length of the La Grande Greenstone Belt, which is prospective for lithium pegmatite, gold, and base metals.

It is anticipated that PMT will list on the ASX during December 2022.

Lithium Exploration | PMET RESOURCES

Patriot Battery Metals is a hard-rock lithium and critical minerals exploration company advancing the Shaakichiuwaanaan Project in James Bay, Quebec.

patriotbatterymetals.com

 

[Dona Ferentes]

Listing date	07 December 2022 ; 12:00 PM AEDT ##
Company contact details	https://patriotbatterymetals.com/ Ph: +1 (778) 945-2950
Principal Activities	Mining exploration
GICS industry group	TBA
Issue Price	AUD 0.60
Issue Type	Chess depository interests
Security code	PMT
Capital to be Raised	$4,200,000
Expected offer close date	21 November 2022
Underwriter	Not underwritten. Canaccord Genuity (Australia) Limited and Euroz Hartleys Limited (Joint Lead Managers)

 

[Thatsaknife]

Patriot Battery Metals Inc. is a mineral exploration company focused on the acquisition and development of mineral projects containing battery, base and precious metals.

The Company’s 100% holdings of the Corvette Lithium Property is over 200 square kilometers of the newly discovered Corvette lithium district.

Collectively, the Corvette Property is now comprised of 417 contiguous claims, totaling 21,357 ha, and covers a more than 50 km strike length of the La Grande Greenstone Belt, which is prospective for lithium pegmatite, gold, and base metals.

It is anticipated that PMT will list on the ASX during December 2022.

Lithium Exploration | PMET RESOURCES

Patriot Battery Metals is a hard-rock lithium and critical minerals exploration company advancing the Shaakichiuwaanaan Project in James Bay, Quebec.

patriotbatterymetals.com

Let's go PMT

 

[Dona Ferentes]

Nice pop on day 1

 

[Dona Ferentes]

And Day 2 just as strong; got past $1.80 and closed near highs

 

[Colm Doc]

I’m watching this one , I’m sorry I’m another sucker investor. This could be another PLS.

 

[Dona Ferentes]

Patriot has been listed for three days on the ASX, as high as $1.88 but seems to have come down with a thaad.

 

[Dona Ferentes]

I’m watching this one , I’m sorry I’m another sucker investor. This could be another PLS.

Ah, I see the reference now

Dual listed Patriot owns 214sqkm of prime spod exploration ground including the Corvette discovery, a 50km trend littered with spodumene outcrop it hopes could be the next major North American lithium discovery.

Among the leadership team is a modern lithium legend – Ken Brinsden. .He is famed not only for helping turn Pilbara Minerals (PLS) from a penny dreadful into a $15 billion lithium giant, but also for driving the development of its Battery Material Exchange auction platform to uncover the true market value of Australian lithium concentrate.

Located just down the road from, among others, Allkem’s James Bay deposit — 37.2Mt at 1.3% Li2O — drilling results have included hits of around 1% Li2O over intercepts greater than 100m.

And there’s more to come – soon. PMT notes on listing that it “will be receiving a backlog of assay results, with further announcements expected over the coming weeks”.

 

[Dona Ferentes]

Maybe the story is good, but price action since IPO suggests the PR team is working hard. After retreating to around 70c, up 15% today

Patriot Commences Quebec’s Largest 2023 Lithium Focused Drill Campaign at the Corvette Property

Highlights
• Mobilization for the 2023 drill campaign has commenced targeting a minimum of 20,000 m over the January to April period
• At least five drill rigs will be utilized to complete the winter program – largest single lithium drill program undertaken in recent times in Quebec
• Objective is to extend the 2,200 m strike length of the CV5 Pegmatite system to the east and west and to continue delineation of the recent CV13 discovery, situated ~4.3 km along geological trend to the WSW
• Construction of winter road almost complete – will improve efficiency and reduce helicopter costs
• Core assay results for 38 drill holes from the 2022 drill campaign remain to be reported – 24 at the CV5 Pegmatite cluster and 14 at the CV13 Pegmatite cluster.

 

[Dona Ferentes]

Maybe the story is good, but price action since IPO suggests the PR team is working hard... .

They sure are. Another result from one drillhole and the punters pile in... up 20% to $1.05

Patriot drills highest grade lithium intercept to date – 156.9 m interval of 2.12% Li2O, including 25.0 m of 5.04% Li2O – at the CV5 Pegmatite, Quebec, Canada

 

[Dona Ferentes]

and the punters pile in... up 20% to $1.05
Patriot drills highest grade lithium intercept to date –

PMT kept going all day, closed at $1.21 nearly 40% up for the session. I wonder who's spruiking it?

 

[Dona Ferentes]

tapping in to all the suits

Ken Brinsden retired as Pilbara chief executive in July 2022, but has re-emerged as non-executive chairman of Canadian lithium explorer Patriot Battery Metals.

Patriot’s primary listing is on the Toronto Stock Exchange, but it listed CDIs on the ASX on December 7 at 60¢ each. They’ve already more than doubled to $1.42 .... [And last week Patriot announced blockbuster drilling results at its Corvette tenement in Canada.

Macquarie analysts called one drilling hit an “extraordinary ultra-high-grade zone” of 25 million tonnes at 5.04 per cent lithium oxide grade. This hit is in addition to a 156.9 million tonne intersection at a more modest, but still strong, 2.12 per cent lithium oxide grade.

This week Macquarie told investors: “These intersections underpin our view that Corvette is likely to become one of the largest spodumene projects globally, with grades of this nature only in evidence at the world-class Greenbushes mine in Western Australia.”

Patriot’s results suggest Brinsden’s new lithium play could compete, but the explorer isn’t expected to sell lithium until after FY2028 and must raise hundreds of millions of dollars to reach production.

In other words, the stock is what your parents might call a bit of a punt.

....... and it could be thought the first couple of days contained an element of hype and enthusiasm not seen since the last sexy lithium IPO .

 

[Dona Ferentes]

Everyone's becoming an expert on lithium concentration, its genesis, how a granite can form pegmatite swarms, and with spodumene etc.

It took a long while for oil exploration to understand source kitchens and migration to stratigraphic traps; now the new white gold is focusing minds in the new rush. And all this talk of grading, with Tier 1 discoveries and the like.

The 13 Feb report from Patriot goes further than most rock-chippers now just reporting percentages (& >1% we hope). They try to, on preliminary work, derive a model on how their prospect comes about. Well worth a read.

Of course, the press is picking up the thinking...

Barry FitzGerald: The Tier 1 lithium club just got a new member - and the sale won't last forever - Stockhead

There was a dumb sell-off in Patriot Battery Metals (ASX:PMT) last week because some drilling results weren't incredible. Sigh. Lithium fans.

stockhead.com.au

 

[Dona Ferentes]

former Pilbara boss Ken Brinsden joined Patriot shortly after leaving Pilbara because he sensed its Corvette discovery in the James Bay region of Quebec had the makings of being a world-class find. The company has said it plans to release a maiden resource estimate for the CV-5 pegmatite swarm in late June.

National Bank of Canada’s equities desk has just initiated coverage of the head Canadian-listed stock (PMET) with a price target of $C17 which equates to $1.90 in the Australian market.

The bank said PMET is on track to deliver a maiden inferred resource of a world-class deposit, potentially at the indicated resource level, to support a subsequent feasibility study.

“Based on drilling to date on the CV-5 trend, we calculate a potential inferred resource of 90Mt grading 1.35% lithia,’’ the bank said.

 

[rcw1]

Good evening
PMT went to the moon today (17/05/23); nice announcement, core results for latest series of drill holes, 2023 winter drill program, at its wholly owned Corvette Property in Quebec.
See attached.

Have a good day tomorrow.
Not holding


Kind regards
rcw1

 

[Dona Ferentes]

Hardly the moon, lol. ? Nice 15 per cent lift but not the highest in its 6 month life.

 

[rcw1]

Good morning
rcw1 will be a ... watching this one today... intently ... wow weeeeeeeeee ha ha ha

The company looking to be in the frame to announce an initial mineral resource estimate by July 2023. Nice.
Further excitement re: todays (15/06/23) announcement, as attached.

Not holding.
Have a very nice day, today. Happy Thursday!!

Kind regards
rcw1

 

[Dona Ferentes]

Patriot used “curiously timed buyout rumours” to inflate its share price, a short-selling activist investor claims.

Night Market Research, in a recent report, alleged that lithium reserves were 40 per cent lower than those touted by the company, and suggested PMT had deliberately delayed a resource update “seven times and counting”.

The firm’s research estimated the timeline for digging up the lithium-rich spodumene concentrate would take four years longer than the company’s forecast of 2028...

 

[Dona Ferentes]

...and yet, never a dull moment.

Pilbara Minerals is understood to have hired RBC Capital Markets’ resources bankers for a tilt at Patriot Battery Metals, whose Corvette lithium project in Quebec is due to put out an initial mineral resource in July.

Sources said Patriot Battery Metals had its long-time adviser Macquarie Capital taking Pilbara through a data room. It’s understood discussions have centred on potential offtake agreements, joint ventures and equity investment.

 

[JohnDe]

How can small retail investors have a fair chance when crap like this goes on -

Patriot Battery Metals hits back at short-seller report

Lithium market darling Patriot Battery Metals has hit back at a short-seller report claiming the company had overhyped its Canadian deposit and played up takeover speculation, saying a forthcoming initial resource statement would back up its claims.

Patriot was the target of a short report by Night Market Research late last week, with the report arguing Patriot had “over-touted” the much-delayed initial resource at its Corvette lithium project in Canada’s James Bay region, and had helped spread rumours it was the subject of likely takeover offers from multiple parties – including Chris Ellison’s Mineral Resources, and fellow Australian lithium major Pilbara Minerals.

Patriot said late on Monday it expected to put an estimate on the size of Corvette within a few weeks, and it was expected to be “a large-scale and high-grade lithium deposit when benchmarked against other hard rock lithium projects globally”. But rumours of takeover talks with Pilbara Minerals were not accurate, Patriot said.

“The company can confirm that it has not received any takeover or corporate proposals to date,” the company said on Monday.

Mineral Resources is believed to have taken a strategic stake of less than 5 per cent of the company earlier this year.

Patriot did not deny it had held similar talks with Pilbara over the potential acquisition of a strategic stake.

“Patriot has received strong inbound interest in relation to Corvette from a range of tier 1 global mining and chemicals companies,” the company said.

“Patriot has appointed a range of advisers and key personnel to support the continued development and financing of Corvette as an independent lithium company.

“Consequently, management’s focus is on advancing a maiden resource, accelerating exploration drilling, progressing permitting and advancing environmental and study work, whilst considering its funding options in parallel,” the company added.

Trading the shares of the Canadian lithium explorer on the Australian market was halted early on Monday, after the ASX asked Patriot to respond to the Night Market report, which shaved almost 7 per cent from the value of its Canadian-listed stock on Friday.

The short seller accused Patriot of participating in “periodic buyout rumours” to boost its stock, and argued the multiple delays in releasing its first resource on Corvette – seven times, according to Night Watch – suggested it would fall well below market estimations.

“With the highly anticipated resource estimate approaching, we think Patriot is near a speculative peak,” the report said.

“Afterwards attention will likely shift to relatively prosaic matters like costs, permitting, softening lithium prices, the wall of unexercised CAD75c warrants, and the financing of a capital-intensive project that has in large part led to the bankruptcy or restructuring of other once promising miners.

“We think the stock is at risk of a painful correction.”

Patriot said on Monday it had sought legal advice on the short report, and said it had not been given the opportunity to respond to the allegations it contained before the report’s release.

Patriot’s Australian-listed Chess Depositary Interests last traded at $1.635.

NICK EVANS RESOURCE WRITER

Patriot Battery Metals Responds to Short Report