RTTNews | Jul 14, 2021 10:39AM EDT

10:38 Wednesday, July 14, 2021 (RTTNews.com) - The Kansas-based mining company, Compas Minerals (CMP), is up 14% after the company reported finding a mining location with 2.4 million metric tons of Lithium stored underneath on Wednesday.

Lithium, an important material in building new-age batteries, is growing in importance as major motor vehicle manufacturers are moving towards electrically-operated vehicles in the coming days. The company in its statement said that it has identified a sustainable lithium brine resource in its solar evaporation site at Ogden, Utah. It has also indicated lithium resources in the salty waters of the Great Salt Lake.

Currently, the shares are trading hands at $68.56, up $8.10 or 13.40% from their previous close at $60.45. The market opened at $70.91 in the morning and in the 52-week period, the shares have ranged between $49.57 and $72.00

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