In Case You Missed It: Lithium takes the lead, followed by biotech and manganese today
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Stockhead’s In-Case-You-Missed-It highlights some of the 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).
Explorer Rubix Resources ASX:RB6) will acquire the Ceiling lithium project in the James Bay region of Quebec, Canada, from celeb investor Tolga Kumova and serial vendor DG Resource Management (DGRM).
Ceiling covers a 25km strike length of the spodumene-bearing Wemindji greenstone belt.
DGRM, which will be employed by RB6 to design/execute field and drilling campaigns, has now sold ground in James Bay to a bunch of ASX-listed stocks, including Patriot Battery Metals (ASX:PMT), Recharge Metals (ASX:REC), Intra Energy (ASX:IEC), and Monger Gold (ASX:MMG).
“We are very excited to begin exploration of the Ceiling project, which has had minimal historical exploration for any commodity,” DGRM says.
“With spodumene pegmatites located on trend to the west of the project and to the east of the project, we believe the prospectivity of Ceiling can be considered exceptional.”
RB6 will pay Kumova and DGRM up to an amount comprising $200,000 cash, 12.5m shares (worth $3.25m at current prices), and 15m options at 20c (worth $3.9m), exercisable on/before June 2025.
BMG Resources (ASX:BMG) has hit pegmatite in multiple drill holes at the under-option Bullabulling project in WA, including a highlight 28m from 2m depth.
“Assays are due in coming weeks that will help to inform the company’s decision regarding its option to acquire Bullabulling, which is open until mid-June,” BMG MD Bruce McCracken said.
Therapeutic antibody development biotech, Patrys (ASX: PAB), received favourable draft reports for its two recently completed toxicology studies testing of PAT-DX1 in animals.
The reports say there were no safety or tolerability issues associated with PAT-DX1 in rats and non-human primate species that are likely to impede a human clinical trial.
And Mako Gold (ASX:MKG) has started drilling on two parallel 7km-long manganese units at its Korhogo project in Côte d’Ivoire that had delivered up to 33% manganese in rock chip sampling.
Drilling is expected to take less than a week so as not to detract from the focus on gold resource expansion at the flagship Napié project, the company says
At Stockhead we tell it like it is. While Mako Gold is a Stockhead advertiser, it did not sponsor this article.