Junior Miner Surges on Option Agreement for Rare Earth and Tungsten Projects

2025-11-13 10:40:00 ET

Despite a brief pause in the recent wave of bullish sentiment, mining companies, particularly those exploring or producing rare earth elements, remain among the hottest trades of 2025. This optimism is expected to persist as North America continues to push for reduced dependence on China, which currently dominates the global rare earth supply. One junior miner is surging this morning after announcing an option agreement for two new properties, including one focused on rare earth exploration.

Makenita Resources Inc. (CSE: KENY) (OTC: KENYF) announced this morning that it has entered into an option agreement with an independent vendor to acquire two exploration-stage assets, the Sisson West Tungsten Project in New Brunswick and the NTX Rare Earth Project in Quebec. The Sisson West property spans roughly 4,000 contiguous acres prospective for tungsten and borders the producing Sisson Tungsten Mine, while the NTX project covers approximately 9,000 acres believed to be rich in rare earth elements. The company notes that results from nearby projects do not necessarily indicate similar mineralization on its properties.

Under the terms of the agreement, Makenita will pay $30,000 and issue a total of 3 million common shares along with 1.5 million share purchase warrants exercisable at $0.08 per share over three years. The initial payment, 2 million shares, and 1 million warrants will be issued within seven business days of signing. A further 500,000 shares and 500,000 warrants will follow within four months, with another 500,000 shares to be issued within eight months of the agreement date.

Jason Gigliotti, President of Makenita Resources Inc stated, "We are very pleased to acquire two critical mineral projects in Canada. There has been a focus on developing and moving forward critical mineral projects in North America recently. Adding these two projects significantly advances our long-term goal to maximize shareholder value. We anticipate being active on these claims in the short term and with only 33 million shares outstanding the structure is intact for growth."

Shares of KENY are up 38.46% to $0.09, while U.S.-listed shares (KENYF) are climbing 41.88% to $0.0603, albeit on light volume during mid-morning trading.

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