Mentioned:
Eric Sprott is one of the most prolific natural resource investors in Canadian history. And now, he’s counting to add millions of dollars to his bet on a publicly traded natural hydrogen company.
What’s happening:
- Billionaire mining entrepreneur and financier Eric Sprott has purchased an additional 1M common shares of MAX Power Mining (CSE: MAXX) on the open market at an average price of $2.02 CAD per share
By the numbers:
- Eric Sprott now owns approximately 18.8M common shares of MAX Power Mining and 12.1M warrants
Why it matters:
- MAX Power Mining is one of the first publicly traded companies in North America to confirm a subsurface natural hydrogen system after the successful testing of a well drilled near Central Butte, Saskatchewan which is widely considered to be Canada’s first ever natural hydrogen drilling discovery
Going deeper:
- MAX Power Mining’s flagship Lawson well in Saskatchewan returned hydrogen concentrations of 286,000 parts per million as well as free flowing gas to the surface
- Eric Sprott also notably was the lead investor in MAX Power Mining’s $20.5M CAD equity financing round with an investment of $4.3M CAD
The intrigue:
- MAX Power Mining holds 1.3M acres of permitted land across Saskatchewan for natural hydrogen exploration and drilling
