Shares of Perpetual Resources (ASX:PEC) have surged by 9.5% to A$0.023, reaching their highest value since August 25.

The construction materials company has announced that it has exercised two separate options enabling the acquisition of key land holdings in the spodumene-rich ‘Lithium Valley’ located in Minas Gerais, Brazil.

Furthermore, according to the company, a recent survey demonstrated strong prospectivity across all acquired permits.

As of the latest close, the stock had risen by 16.7% year-to-date.

Perpetual Resources is a construction material company that deals with comprehensive resource management.