Junior Rock Stars

It’s already been quite a week for this province’s junior mining sector.

First out of the gate was Saskatoon-based Gensource Potash with confirmation of a listing on the AIM exchange, the venture side of the London Stock Exchange. This gives the start-up – the only local company to be listed over there – a foothold in Europe’s financial markets to go along its German customer and equity investor as well as its European-based senior lenders.

Then DEEP – Deep Earth Energy – from Saskatoon and Prairie Lithium which is headquartered in Emerald Park just outside Regina announced an agreement to work together on their joint projects in southeast Saskatchewan.

Prairie Lithium – which just closed an over-subscribed private capital raise – has developed a technology to extract lithium from deep water reservoirs. They have an extensive land base and are working in roughly the same part of the province and at the same depths as DEEP which is developing a geothermal power plant using super-heated deep water. The two companies decided they could partner up on the land bases and a test to extract lithium went better than expected.