6:45 am Pacific
Pure Energy Minerals (PE, TSX-V), which has tripled in value since we introduced it to our readers in July, was halted late in yesterday’s trading session, and this morning announced a deal with Tesla Motors Inc. for the potential supply of lithium hydroxide that Pure Energy plans to produce from the company’s Clayton Valley Lithium Brine project in Nevada (a Preliminary Economic Assessment, Pre-Feasibility Study or Feasibility Study will need to confirm the technical feasibility and economic viability of the project).
Certainly excellent news for Pure Energy as it continues to aggressively advance this project in a highly favorable jurisdiction. The agreement establishes a commitment for an annual purchase volume of product over a period of 5 years by Tesla and/or its authorized purchasers, and also sets a predetermined price that is below current market rates and is aligned with Tesla’s goal to continuously reduce the cost of its lithium ion batteries.
Below is John’s latest PE chart (2.5-year weekly). Yesterday’s close at 80 cents confirmed a breakout above the Fib. 75-cent level.
PE resumes trading at 7 am Pacific.
Note: John and Jon do not hold share positions in PE.
22 Comments
Great news for a great little company!PE will shoot up from here.ABR should follow in its footsteps for a few days,possibly to .06-.09
so much for eqt doubling before pe. Congrats to those who bought PE. YOU IN DA MONEY HUGE!!!!
I prefer DJI.V more than ABR.V. Nice looking Chart as per BMR.
Hey Jon, What do you think of the chart on BBI.V? Worth looking into?
John can weigh in here, but it has firmed up and is trying to get above its 100-day SMA for first time since March. If energy plays pick up in Q4, BBI could do well…let’s see how it performs the next few days. I like CRS a little better as a short-term trading opportunity.
ABR chewing through shares.Should hit .03 today.Weekly chart says lots of room to go.
Jon, do we continue to hold DJI.V at these levels?
Tony – now now. PE did not hit $1.06 yet, and remember EQT hit .22 yesterday, 2 cents from the .24 – Neither stock has hit the mark yet.
BBI….There is a Resis. band at 19c – 21c. This should be a good test of its strength.
EQT…..My FIB Resis. level is 23c. It came close yesterday.
Are some of those PE profits going to start flowing into GGI and DBV. .?
BMR, what do you think of SEI.V?
WRR – news out. If they can knock out that .03, they should move up some.
A lot of interesting stuff going on right now.
WRR and GGI are starting to wake up!!!!!!
Spoke with Michel of wrr this morning, they will be drilling for mouth, contractor on site this week end! Drilling to start next week
And result will be good!! Only about 8 millions share of free trading
Dave Could you post the link to wrr news?
Ya John, and it looks like maybe the PP filling on second one might be done on EQT. It’s bids are building again. Won’t be long.
If EQT closes at .18, that would be a strong hammer and primed for tomorrow. Lets see how it pans out.
PE now in the red. Wtf?
PE was way overbought Sameer
PE – the people in early are taking some profits. Buy on rumour sell on news .
pure energy will have a big move on the up side from here on in.watch tomorrow up..up..up..