Medaro Mining Corp (OTCMKTS:MEDAF) Stock Continues To Trend Lower
Medaro Mining Corp (OTCMKTS:MEDAF) operates a multi-faceted business that involved in the development of hard rock lithium extraction technologies. On Thursday, the company had come into the news cycle after it announced that it had come up with highly positive lithium recovery data that had been extracted through the use of Medaro Mining’s patent pending spodumene processing technology.
Trading Data
On Thursday, MEDAF stock slumped 7.37% to $0.0648 with more than 275.16K shares, compared to its average volume of 127K shares. The stock moved within a range of $0.0648 – 0.0850 after opening trade at $0.0726.
Medaro’s Spodumene Processing Technology Achieves Greater Than 95% Lithium Recovery From Both High- And Low-Purity Spodumene
The company had performed bench scale laboratory under mild experimental conditions recently and the application of its proprietary technology led to the extraction of 95% of the lithium that had been present in two very different kinds of compositions. One of those was highly pure while the other was relatively impure.
The company also revealed the details of the data that it had gathered from those compositions. Dr. Jim Blencoe, who is the Chief Technology Officer of Medaro Mining, spoke about the latest developments as well. He noted that the results from the compositions exceeded his optimistic expectations. He went on to add that the positive data would also justify a move from the company to follow up on further work in a much more aggressive manner. It would also position the company’s technology as a legitimate alternative to the current methods.
