Mawson Resources Limited (TSE:MAW) (OTCMKTS:MWSNF) announced Tuesday that it has been selected to take part in the Finland-based Battery Metals research and development consortium.
Participation, according to Mawson, is evidence that the company’s Rompas-Rajapalot gold-cobalt project is a strategic resource in the Nordics.
As part of its role in the consortium, also known as BATCircle, Mawson will receive €250,000 (C$378,000) to conduct advanced exploration and metallurgical studies at Rompas-Rajapalot. The funding is on a 50/50 basis, meaning Mawson will contribute another €250,000 to bring the total amount to €500,000 (C$756,000).
The Rompas-Rajapalot project’s maiden resource of 424,000 ounces of gold equivalent at 3.1 grams per ton of gold equivalent makes it one of Finland’s top three gold resources by grade and contained ounces, according to Mawson.
"Mawson's Rajapalot project is a strategic gold-cobalt project for Finland, and we are honored to participate in the BATCircle consortium,” Mawson’s CEO Michael Hudson said in a statement. “Equally, we are encouraged by the vision of Business Finland to stimulate the dominant and growing role Finland plays in a modern and sustainable supply chain for battery metals.”
Shares of Mawson were down less than a cent Tuesday at C$0.22 in Toronto and eased to US$0.16 on the OTC Markets.
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