DRP Journal

Discover Research Profit

Finance 

Usha Resources Ltd (OTCMKTS:USHAF) Stock In Focus After Latest Development

Ian Leigh , , , ,

North American lithium mineral acquisition and exploration firm Usha Resources Ltd (OTCMKTS:USHAF) is involved in the development of drill ready lithium projects in addition to other precious metals and battery projects. Yesterday, the company came into focus after it announced that it had resumed its drilling activities at its Jackpot Lake Lithium Brine Project.

Trading Data

On Thursday, USHAF stock ended flat at $0.1935 with 37.25K shares, compared to volume of 70.64K shares. The stock moved within a range of $0.1935 – 0.1935 after opening trade at $0.1700.

Usha Resources Announces Resumption of Drilling at the Jackpot Lake Lithium Brine Project, Commences Multiple Exploration Programs Across Ontario Lithium Pegmatite Portfolio

Additionally, the company also announced that exploration had also commenced at its six lithium pegmatite projects located in Ontario. Usha Resources announced that the drilling is expected to begin at around June 1, 2023 and the company would deploy a bigger and more powerful drill rig for that particular purpose.

The would help in drilling each of JP22-01 and JP22-02 to be drilled up to 2000 feet. Usha decided to advance these holes as part of its first drilling program, which had been financed fully. The drilling at the Jackpot Lake Lithium Brine Project is also expected to start at around June 1, 2023.

Since the company is going to have enhanced drilling capabilities, it is expected that exploration efforts would lead to higher depths of drilling and the expansion of the very scope of the project as a whole.

Ian Leigh

Ian Leigh is a specialist in analyzing stocks, SEC and OTC filings, and financials of public and privately-held companies. He has played a significant role in M&A activity, consulting with publicly-held firms on acquisitions and divestitures. He also consults on valuations and branding. He lectures at major universities and teaches at specialty financial schools.