In Case You Missed It: Gold mining, a media acquisition and some lithium
Stockhead’s In-Case-You-Missed-It highlights some strongest performing ASX stocks that might have slipped your notice today.
It’s a short, sharp update to help frame the trading day by showing some of the biggest movers in percentage terms.
Stocks highlighted in green have made market-moving announcements (click headings to sort).
Brightstar Resources (ASX:BTR) is set to become a rank-and-file gold producer in the next few weeks after it confirmed mining operations will restart at the Menzies gold project.
Mobilisation is planned for late July, with first material to be produced from its Selkirk gold mine in August.
In a JV with BML Ventures – which will supply personnel and equipment – gold from Selkirk will be processed through St Barbara’s (ASX:SBM) Gwalia processing plant.
The company will use the early cash flow from the production to advance its other near-term gold assets at Menzies and Laverton, including Cork Tree Well, which is undergoing an update of its mineral resource estimate.
BTR MD Alex Rovira said the Selkirk JV with BML signifies the first production for Brightstar that will generate meaningful free cash.
SXL said that under the Broadcasting Services Act 1992, A1N would be deemed to control its commercial radio and television broadcasting licences if it held an interest of 15% in SCA.
As SXL and A1N control the maximum permitted two commercial radio broadcasting licences in all metropolitan markets and several regional markets, the BSA prohibits A1N holding an interest of 15% or more in SXL.
Red Mountain Mining (ASX:RMX) has wrapped up phase 1 drilling at its Mustang lithium project in Nevada and says the majority of drill holes encountered over 45 metres of lithium bearing claystone consistent with expected host geology.
Assays are expected in around three weeks’ time.
Distributor of industrial supply products Coventry Group (ASX:CYG) says that based on year-to-date trading, the FY23 forecast sales guidance is around $355m, up 10.2% on FY22.
The FY23 forecast before significant items is around $17m, up 9.7% on FY22.
And Sovereign Metals (ASX:SVM) has commenced a graphite bulk sample program at its Kasiya project in Malawi for downstream testwork and product qualification for the lithium-ion battery industry.
At Stockhead we tell it like it is. While Sovereign Metals is a Stockhead advertiser, it did not sponsor this article.