Investor Update: Aterian PLC has identified sodium-carbonate-rich brines at its Sua Pan project in Botswana, revealing potential for industrial minerals development.

The brine samples show high salinity, alkalinity, and sodium content, making it suitable for soda ash production.

While these results are early-stage, they represent an exciting opportunity for the company to diversify its mineral portfolio. Management believes this discovery could lead to cost-effective production profiles compared to synthetic alternatives.

The identification of soda-type brines enhances the strategic optionality of the project, allowing for potential partnerships, sales, or staged development scenarios. The absence of lithium in the initial samples doesn't rule out its potential elsewhere in the basin.

The company plans to assess the soda ash development potential at a broader scale and prioritize areas for deeper sampling.