PepinNini (ASX:PNN) gains over 38% on ASX. Here’s why

Highlights

  • PepinNini Minerals (ASX:PNN) share price is topping its 3-month charts.
  • The Company has signed a lithium-brine pipeline access contract with Ganfeng Lithium.
  • A lithium brine pipeline is also considered as a comparatively environmentally-friendly option than road transport

Diversified ASX listed mineral explorer PepinNini Minerals Limited (ASX:PNN) has signed an agreement with Ganfeng Lithium for brine pipeline access. After the agreement announcement, PNN shares have zoomed up over 38% on ASX. PNN shares have been on a bullish rally since yesterday, gaining over 25% in just two days.

PNN shares were spotted trading at AU$0.560 per share at 12:30 PM AEST today.  

The PepinNini- Ganfeng agreement-

  • The agreement has been signed by PepinNini’s subsidiary- PepinNini SA (PNN SA), with the subsidiary of Ganfeng Lithium-Litio Minera SA.
  • The agreement is for gaining access to a pipeline that carries lithium brine from Ganfeng’s Mariana Project lying southwest of PNN owned Santa Ines Project.
  • The agreement will help PepinNini and Ganfeng jointly carry out an Induced Polarisation(IP) geophysical survey on 11 kms of the pipeline lying within PNN owned Santa Ines Project.
  • The survey will be conducted for 12 days, commence in October. It will provide a useful interpretive tool for both parties.
  • PepinNini will gain an exploration tool for copper-gold mineralisation targets for drilling.
  • Ganfeng, on the other hand, will get reassurance that the pipeline trace will not require relocation if any mineral discovery takes place.
  • Both parties have agreed to contribute to the survey cost, highlighting working relationships between lithium brine companies in Argentina.
  • A lithium brine pipeline is also considered as a comparatively environmentally-friendly option than road transport.

About PepinNini Minerals-

PepinNini Minerals Limited is an Australian mineral exploration firm. It has exploration tenements in South Australia and the Salta Province in Argentina. Its exploration projects are related to nickel-copper-cobalt discoveries in the Musgrave Province of South Australia and lithium brine resource and copper-gold projects in Argentina.

Bottom line

Previously, on 20 October 2020, PepinNini talked about its borehole drilling plans at two priority copper-gold targets on the Santa Ines Project. In addition, the current agreement with Ganfeng for the Lithium brine pipeline is possibly another move to strengthen the company’s presence in Argentina’s exploration space.

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