Lancaster Resources (LCR.C) is a junior explorer focusing on transition metals to take advantage of the global shift towards decarbonization and electrification. The goal is to produce climate-positive lithium. The current focus is on its Alkali Flat Project, located in southwestern (and mining friendly) New Mexico, USA, within the Animas Valley.
Today the Company announced it is expanding US investor reach with a QTCQB listing. Common shares will be under the symbol LANRF. Lancaster will continue to trade on the Canadian Securities Exchange under its existing stock symbol LCR.
“Our listing on the OTCQB Venture Market is in harmony with our exploration roadmap. We’re curating a robust portfolio of lithium properties to address the burgeoning demand for U.S.-sourced lithium, driven by the rise in electric vehicles and further catalyzed by the U.S. Inflation Reduction Act of 2022, initiated by Biden, to augment domestic lithium supply,” says Lancaster Resources CEO, Penny White.
Lancaster also has the Depository Trust Company (“DTC“) full-service eligibility in the United States. DTC settlement services provide a more efficient and lower cost settlement process for investors and brokers trading Canadian securities in the United States. DTC eligibility enables shares of Lancaster to be distributed, settled, and serviced through DTC’s automated processes, thereby taking advantage of the efficiencies created in the electronic method of clearing securities and the resulting cost benefits that DTC provides through accelerated settlement processes.
Lancaster Resources has printed new 52 week lows hitting $0.065. Bulls will want to see signs that selling pressure is exhausting and buyers are stepping in. Perhaps this recent range is a positive sign as a range indicates the exhaustion of selling pressure. Watch for the potential of a double bottom pattern printing here.
For upside momentum, the stock would need a close above the $0.12 zone which is the previous lower high. This would also aid in getting a close above the downtrend line.
