In Case You Missed It: Lithium, Nootropics and a dash of nickel
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 blue have made market-moving announcements (click headings to sort).
Sand stock Perpetual Resources (ASX:PEC) has made a move into Brazilian lithium, inking a binding option deal over exploration ground in Minas Gerais, 20km from the Grota do Cirilo spodumene mine owned by C$5bn capped Sigma Lithium Corp (TSXV:SGML).
Latin Resources’ (ASX:LRS) advanced Colina project is also nearby.
A 60-day due diligence period has now kicked off over the +3000sqkm of greenfields (unexplored) tenure. If PEC likes what it sees, the plan is “rapid exploration in the coming months”.
The deal explains the ‘leaky ship’ action earlier in the week when the stock surged on no news before going into a halt “regarding a potential acquisition”.
Brazil has become a lithium hotspot thanks to Sigma’s success at Grota do Cirilo.
The Calmer Co (ASX:CCO) – formerly Fiji Kava – launched its new Noble Focus product online today.
Noble Focus is a synergistic combination providing calm, focus and memory enhancement utilising the proprietary Noble Kava water extract.
Noble Focus is targeting the US$4.6bn Nootropics market which has grown at 17% to US$4.6bn in 2023, and includes executives looking for an edge.
Armada Metals (ASX:AMM) has inked a deal to acquire 80% of a historic Zimbabwean nickel sulphide deposit, untouched since the ’90s.
The Bend nickel deposit was initially discovered by Anglo-American Prospecting Ventures in 1971, and subsequently drilled in the 1990s, “with notable nickel intercepts reported from these programs”, AMM says.
The company can earn 50% of the project by funding a 2500m drill program. That stake will increase to 80% after it spends another $3 million on exploration over three years.
Maiden drilling expected to commence in Q3.
Clothing retailer Mosaic Brands (ASX:MOZ) expects a $17m profit for FY23 – a $33m turnaround to the prior financial year loss of $16m.
“Whilst the Group remains cautious for FY24, it enters the new financial year with its cost base in the strongest position in over four years, as Covid related costs fall,” it says.
And Adavale Resources (ASX:ADD) has received a further $820,000 for exploration drilling at its flagship Kabanga Jirani nickel project in Tanzania, taking the total investor placement to $2.47m so far.
At Stockhead we tell it like it is. While Adavale Resources is a Stockhead advertisers, it did not sponsor this article.