PetroSun Inc (OTCMKTS:PSUD) Stock On Watchlist After Latest News
PetroSun Inc (OTCMKTS:PSUD) on May 16, 2023, announced that the firm has reestablished participation within the water processing sector harnessing the patented technologies. The firm is now a fifteen percent equity holder in the freshly formed Eau Midstream LLC.
Trading Data
On Tuesday, PSUD stock fell 11.33% to $0.1330 with 14.65K shares, compared to volume of 48.57K shares. The stock moved within a range of $0.1330 – 0.1500 after opening trade at $0.1450.
Eau Midstream would be focusing on the processing of produced oilfield water, livestock, fracwater, and mining and agricultural wastewater. These technologies are covered in patents held by Eau Resources.
Eau Midstream has expanded its technology base to include global licenses for multi-patented Electrocoagulation Reactor. The initial commercial applications of the technology systems are being harnessed in the processing of concentrated gold mining tailings containing palladium, gold, silver, platinum, and cobalt. Furthermore, there is potential for pre-processing system linked with potash and lithium processing, taken from water streams and solution mining.
PetroSun Inc owns a large amount of leasehold acreage, which is capable of helium exploration as well as production in the Holbrook Basin of Arizona. Further, there is scope for natural gas and helium in the Paradox Basin of Utah.
PetroSun has mineral leases on about 280,000 gross acres in the Holbrook Basin as well as the Pedregosa Basin of Arizona. It also has interest in several patented technologies including lithium processing, contaminated water processing as well as mine tailing processing. The company also has an interest in rare earth metals processing and cell culture production.
