Medaro Mining Corp (OTCMKTS:MEDAF) Stock Continues to Trend Lower

Yesterday Medaro Mining Corp (OTCMKTS:MEDAF) was in the news cycle after it announced that the CSE had agreed to accept its filing for the share purchase agreement with regards to the acquisition of 100% of the issued and outstanding shares in 1411409 BC Ltd.

Trading Data

On Tuesday, MEDAF stock slid 4.12% to $0.0559 with 105.62K shares, compared to volume of 119.94K shares. The stock moved within a range of $0.0537 – 0.0630 after opening trade at $0.0547.

Medaro Mining Announces Exchange Acceptance to Acquire the James Bay Pontax Lithium Project

1411409 BC Ltd holds a 100% mining interest in the mining claims which are made up of James Bay Pontax Project in Quebec, Canada. The project comprises of as many as 101 mineral claims stretching over an area across 5800 hectares. The area in which the project is located is particularly rich in lithium.

In other words, it is a highly prospective zone and once the acquisition is completed it could make Medaro Mining one of the major players in the lithium mining space. The project is located only 30 kms away from the James Bay Lithium Project owned by Alkem Limited. That project boasts of a published mineral estimate of as much as 40.3 Mt at 1.4% Li20. There are other high profile lithium projects which are located in the vicinity of the Pontax Project. It remains to be seen if the Medaro Mining stock comes into focus any time soon.