Grounded Lithium Corp. Acquires Oil and Gas Rights in Saskatchewan for $25,000
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 14 2026
0mins
Source: Yahoo Finance
- Acquisition Agreement: Grounded Lithium Corp. has entered into a definitive agreement to acquire a 30% mineral interest in Saskatchewan for approximately $25,000, aimed at supplementing cash flow and supporting the advancement of the Kindersley Lithium Project.
- Farmout Collaboration: Grounded and a third party will farm out their combined 60% interest to the newly formed Saskatchewan Renewal Drilling Limited Partnership #1, which successfully raised $900,000 for oil and gas investments, expected to generate additional net operating income for the company.
- Drilling Plans: The company plans to drill up to two exploratory wells at shallow depths of less than 700 meters, with anticipated payback periods of under one year, enhancing its operational capabilities in the oil and gas sector.
- Strategic Implications: This acquisition is seen as complementary to the lithium business, expected to provide stable cash flows for future working capital needs, ensuring the company's competitive position in the lithium market.
Analyst Views on DNN
Wall Street analysts forecast DNN stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for DNN is 3.30 USD with a low forecast of 3.00 USD and a high forecast of 3.60 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
4 Analyst Rating
4 Buy
0 Hold
0 Sell
Strong Buy
Current: 3.940
Low
3.00
Averages
3.30
High
3.60
Current: 3.940
Low
3.00
Averages
3.30
High
3.60
About DNN
Denison Mines Corp. is a Canada-based uranium exploration and development company focused on the Athabasca Basin region of northern Saskatchewan, Canada. The Company holds a 95% interest in the Wheeler River Project, which is a uranium project. It hosts two uranium deposits: Phoenix and Gryphon. It is located along the eastern edge of the Athabasca Basin in northern Saskatchewan. It holds a 22.5% ownership interest in the McClean Lake joint venture (MLJV), which includes several uranium deposits and the McClean Lake uranium mill. It also holds a 25.17% interest in the Midwest Main and Midwest A deposits, and a 67.41% interest in the Tthe Heldeth Tue (THT) and Huskie deposits on the Waterbury Lake property. The Company, through JCU (Canada) Exploration Company, Limited, holds indirect interests in the Millennium project, the Kiggavik project, and the Christie Lake project. It also offers environmental services. The Company also uses MaxPERF drilling tool technology and systems.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
