In Case You Missed It: Lithium tech deals and a base metals resource update
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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).
|RR1||Reach Resources Ltd||0.013||18%||$34,705,557|
|VAR||Variscan Mines Ltd||0.015||15%||$4,394,047|
|YPB||YPB Group Ltd||0.004||14%||$2,602,115|
|ADX||ADX Energy Ltd||0.009||13%||$28,881,710|
|MHC||Manhattan Corp Ltd||0.009||13%||$23,490,230|
|GSM||Golden State Mining||0.047||9%||$8,216,796|
|MEK||Meeka Metals Limited||0.049||9%||$49,599,402|
|PWN||Parkway Corp Ltd||0.013||8%||$26,721,826|
|RDN||Raiden Resources Ltd||0.013||8%||$24,663,227|
|EZZ||EZZ Life Science||0.74||8%||$29,252,925|
|G88||Golden Mile Res Ltd||0.047||7%||$14,493,138|
|VTM||Victory Metals Ltd||0.245||7%||$18,606,921|
|ASN||Anson Resources Ltd||0.17||6%||$203,283,770|
|QXR||Qx Resources Limited||0.035||6%||$29,596,457|
|ARU||Arafura Rare Earths||0.2825||5%||$570,608,467|
|MTM||MTM Critical Metals||0.068||5%||$6,308,037|
|HRE||Heavy Rare Earths||0.115||5%||$6,543,672|
|ANX||Anax Metals Ltd||0.057||4%||$22,516,715|
|DEG||De Grey Mining||1.38||3%||$2,084,673,595|
|DEV||Devex Resources Ltd||0.325||3%||$116,795,251|
|TPD||Talon Energy Ltd||0.17||3%||$103,528,902|
|LM1||Leeuwin Metals Ltd||0.345||1%||$15,226,900|
|CEL||Challenger Gold Ltd||0.09||1%||$106,076,011|
MinRes will solely fund the development and operation of a pilot plant up to the total budgeted cost of $4.5 million and provide raw materials for the pilot plant at no cost to Lithium Australia, with Lithium Australia to contribute its LieNA technology.
A 50:50 joint venture to own and commercialise the LieNA technology through a licensing model is also potentially on the table.
What’s the LieNA tech do? It’s complicated but it essentially enables the recovery of lithium from fine and low-grade spodumene that would otherwise be disposed of as waste.
Galena Mining’s (ASX:G1A) Abra base metals mine in WA has updated its Mineral Resource Estimate to 33.4Mt at 7.1% lead and 17g/t silver, which includes 0.3Mt at 7.3% Pb and 32g/t Ag (measured), 16.2Mt at 7.3% Pb and 19g/t Ag (indicated) and 16.9Mt at 6.9% Pb and 15g/t Ag (inferred).
“The updated Abra MRE reflects substantial work achieved at Abra over the last 12-months, greatly improving the understanding of the deposit,” MD Tony James said.
“The Resource update work also confirms that mining and processing grades seen during Abra’s commissioning and ramp-up, which is dominated by mine development, are not representative of the total MRE at Abra.”
Variscan Mines (ASX:VAR) has confirmed the continuity of high-grade mineralisation extending south-west from the San Jose zinc mine in Spain.
Specifically, the finds have been made on the 9km Novales-Udias trend, with the extension being revealed via new data collated by Variscan Mines. The extension upshot is 131 historical drillholes for 7,398 metres.
According to Variscan, the new results “materially enlarge” the company’s drillhole database at the mine, which now consists of: 1,114 drill-holes for 95,553 metres.
Variscan managing director Stewart Dickson said, “This additional drill-hole data shines an even brighter light on the upside potential to the south west of the San Jose Mine.
ADX Energy (ASX:ADX) has entered into an investment agreement with MND Austria to accelerate the development of the Anshof field (in Austria).
MND will pay up to EUR 11.52 million to earn a 30% economic interest in the Anshof Field area, which has an independently assessed 2P reserves base of 5.2 million BOE which can “deliver significant cashflow with the drilling of further wells,” the company said.
And lastly, American West Metals (ASX:AW1) has flagged two more “exceptional” discoveries at its Storm copper project in Canada, with diamond drill hole ST23-03 encountering a new near-surface zone of mineralisation along with a deeper sediment-hosted copper system in an underexplored area of the project.
At Stockhead we tell it like it is. While Variscan Mines, ADX Energy and American West Metals are Stockhead advertisers, they did not sponsor this article.