In Case You Missed It: Lithium, lithium, some cannabis … and more 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).
Voltaic Strategic Resources (ASX:VSR) has completed tranche 1 of a placement to raise approximately $3.1 million to support the acceleration of exploration programs at the company’s Ti Tree lithium and Paddys Well rare earths projects in WA.
“Proceeds from the Placement will enable us to systematically and rapidly advance exploration programs at our flagship projects and upscale our operational activities,” CEO Michael Walshe said.
“ With this transformational Placement, Voltaic is now well funded to drill a number of key Lithium and Rare Earth targets across both our Ti Tree and Paddys Well Projects.”
More lithium news with junior Pan Asia Metals (ASX:PAM) signing an MOU with Vietnamese battery maker VinES Energy Solutions to evaluate the construction of a standalone lithium conversion facility in an industrial zone close to VinES’s battery plant.
The evaluation will consider an initial 20,000-25,000 tonne per annum capacity to produce LCE and lithium hydroxide, supported by PAM’s lithium projects in the region, including its Reung Kiet and Kata Thong lithium projects in Thailand.
“This is a significant step towards achieving our strategy focused on developing an integrated supply chain to cost-effectively deliver relevant and in-demand products to the Li-ion battery market in South-East Asia,” PAM boss Paul Lock said.
Cannabis company Epsilon Healthcare (ASX:EPN) appointed a new CEO in Peter Giannopoulos who was most recently CEO of Cell Therapie, and previously led the diversification of Australia’s largest private hospital provider, Ramsay Healthcare (ASX:RHC) as the CEO of the Ramsay Pharmacy Group over a 12-year period.
Green Technology Metals’ (ASX:GT1) strategy of building a vertically integrated lithium business in Ontario has received a major endorsement from top tier battery manufacturer LG Energy Solution who will invest A$20m in GT1 equity at A$0.92 per share, to become a substantial shareholder.
The company also nabbed an offtake term sheet to sell LGES 25% of its spodumene concentrate production from its Seymour project for a period of 5 years from the commencement of commercial production.
And Imugene (ASX:IMU) has scored US FDA Investigational New Drug (IND) clearance to initiate a Phase 1 clinical study of its oncolytic virotherapy candidate, onCARlytics.
The clearance allows Imugene to start patient recruitment and dosing of CARlytics (CF33-CD19) combined with blinatumomab in patients with advanced or metastatic solid tumors.
At Stockhead we tell it like it is. While Voltaic Strategic Resources and Green Technology Metals are Stockhead advertisers, they did not sponsor this article.