"We are extremely excited to be re-launching and announcing the new developments that Mammoth Energy Group will be undertaking as the company moves in a new direction in the energy sector," said Mr. William Lieberman, Chief Executive Officer of Mammoth Energy Group. "The Company is seeking to quickly move up to the OTC BB or Amex markets in the future," he added.
Mammoth Energy Group Inc. announced today that it is moving the company into alternative energy mining and exploration. The company is divesting its claims on its Pawnee County, Oklahoma, oil and gas project. "The company is moving in another direction focusing on alternative energy mining and exploration and the Pawnee project no longer made sense for our strategy," said Mr. William Lieberman, Chief Executive Officer of Mammoth Energy Group. "We see where the future of alternative energy mining is moving and Mammoth Energy Group intends to have a large stake," he added.
Mammoth Energy Group Inc. announced today that it is in final discussions with Salt Gold Inter Chile Limitada, of Chile, regarding its Lithium concessions. salt Gold Inter Chile Limitada currently operates in the North West region of the country located in the heart of the Atacama Desert. "We are moving along diligently and as quickly as possible," announced Mr. William Lieberman, President of Mammoth Energy Group.
During the first quarter of 2010, the Company entered into a Letter of Intent to begin lithium mining operations in Chile. It is currently finalizing contract negotiations to begin the project and expects to begin operations early in the third fiscal quarter of 2010.
As of March 31, 2010 there are: 5,000,000,000 authorized common shares 2,461,479,891 issued and outstanding common “CA” shares 15,309 issued and outstanding common “C1” shares 205,587 issued and outstanding common “C2” shares 2,460,970,972 common “CA” shares in the float
-Current MMTE Market Cap at .0008 -> $1.96 million -AMEL.ob, another Lithium play with US Lithium holdings, is sporting a market cap $33 million with no revenues as well. -Similar market cap would place MMTE in the .01 to .015 range. MMTE is currently 15-20x undervalued here.
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