5E Advanced Materials Reports Significant Boost in Resources

5E Advanced Materials, Inc. announced a significant increase in borate and lithium resources at its Fort Cady Project in California's Mojave Desert. The company, poised to become a major borate producer, reported a 61% rise in total measured and indicated borate resources, now 28.3 million tons, and a 54% increase in lithium resources, totaling 328,000 tons. The borate mineralization primarily consists of colemanite, with federal lode claims secured to establish mineral tenure. The project promises a 217-year resource life with optional future expansion. CEO Paul Weibel highlighted the potential to secure a domestic boron supply chain, crucial for various industries.