- Pan Asia Metals (PAM) shares were up as much as 146 per cent today after it filed for five geothermal and hard rock lithium exploration applications in Thailand
- The proposed Kata Thong Lithium Project will focus on geothermal-hosted lithium and associated geothermal energy
- Applications will require final approvals from relevant Federal mining departments to progress
- Pan Asia Metals shares closed today’s session up 120 per cent to trade at 33 cents
Pan Asia Metals (PAM) shares were up as much as 146 per cent today after it filed for five geothermal and hard rock lithium exploration applications in Thailand.
The new Special Prospecting Licence Applications are for tenements situated in the Phang Nga Province in southern Thailand are set to form PAM’s ‘Kata Thong’ Lithium Project.
Pan Asia said the “new, complementary initiative” will focus on discovering geothermal hosted lithium and associated geothermal energy in the area.
The tenements span 45 square kilometres and are situated 35 kilometres northeast of the company’s developing Reung Kiet Lithium Project.
The company also said Kata Thong provides it with the opportunity to produce geothermal lithium using geothermal energy with a “Zero Carbon Footprint”.
Pan Asia Metals Managing Director Paul Lock said the company’s strategy is to identify and develop low cost and low carbon emission lithium projects.
“PAM is rapidly positioning itself with projects that have the potential to be placed at or near the bottom of the cost curve, which provide PAM the option to move past the mine gate and value add, and that have the potential for a low or Zero Carbon Footprint,” he said.
Kata Thong applications have been submitted to a federal level and will require
final approvals by the Department of Primary Industry and Mines and the
Minerals Act Committee thereafter.
No further permissions aside from landholder access are required once the exploration licenses have been granted, according to Pan Asia.
Pan Asia Metals shares closed today’s session up 120 per cent to trade at 33 cents.