Moab Minerals acquired a 14.64% stake in CAA Mining Limited

Moab Minerals Limited (ASX: MOM) has recently announced the acquisition of an initial 14.64% stake in CAA Mining Limited, an exploration and development company centred on lithium and gold exploration in Ghana, Africa. This investment allows Moab to expand its business as a junior exploration company and offer shareholders an opportunity to invest in lithium. The Board believes that this strategic investment is fitting due to CAA Mining's focus on lithium projects in Ghana.

Moab's investment encompasses three Ghanaian lithium projects, which are covered by six prospecting license applications, totalling 730km2. These projects exhibit promising exploration potential, as indicated by preliminary geological and geophysical studies and known pegmatite occurrences. Moreover, the projects are conveniently situated adjacent to a coastal highway, approximately 100km apart, between the major cities of Accra and Takoradi.

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