Max Power Mining signs Moose Jaw MOU as stock soars over 1,100% despite insolvency warnings

Max Power Mining Corp., a Saskatchewan‑based explorer, announced a letter of intent with the city of Moose Jaw to advance the commercialization of natural hydrogen deposits in the province’s largest industrial corridor. The agreement follows a 12‑month run‑up in the company’s share price, which jumped more than 1,100% to a record €1.63 per share.

Analysts note that while the technical outlook improves – new seismic data, a supplemental helium‑rich target (average 4.4% He, peaks up to 8.7%) and a partnership to plan regulatory steps – the firm’s financial health remains precarious. An Altman Z‑Score flags heightened bankruptcy risk, and the balance sheet is still weak despite increased investor interest. Star investor Eric Sprott has expanded his stake to roughly 13% of the company, signalling confidence but not a cure for the liquidity challenges.

The Mo J​aw MOU aims to create a pathway for natural hydrogen extraction and positioning the project within Saskatchewan’s evolving energy mix, which balances nuclear, coal and emerging hydrogen initiatives.