In Case You Missed It: Nickel, Canadian lithium and a Chemist Warehouse deal
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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 green have made market-moving announcements (click headings to sort).
Adavale Resources (ASX:ADD) has drilled into 4.15m of massive nickel sulphides at the Kabanga Jirani project, adjacent to the Tier-1, high grade Kabanga deposit in Tanzania.
“We are delighted with this drill result,” ADD technical director John Hicks says.
“It validates Adavale’s exploration strategy and builds confidence in the prospectivity of our other priority target areas within the Luhuma Trend.
“With a second diamond drilling rig currently being mobilised to site, Adavale is well positioned to advance drilling its priority targets.
“Two follow up drillholes will now be drilled around this massive sulphide intersection.”
Neighbouring Kabanga is one of the largest undeveloped nickel sulphide projects in the world.
Perth broker Jason Peterson has bolstered his stake in junior explorer Blaze Minerals (ASX:BLZ) from 9.18% to 10.389%.
His firm CPS Capital Group recently led a nil discount $2m placement for former shell BLZ, which is buying the 340sqkm greenfields North Spirit lithium project in Ontario.
North Spirit is 30km along strike from the 50Mt PAK and Spark projects, where owner Frontier Lithium (TSX.V:FL) recently pulled up an eyewatering 398m @ 1.88% Li2O1, including 23m @ 3.12% Li2O2 in one drillhole.
It is also in the same neighbourhood as recently listed Patriot Lithium (ASX:PAT).
Sigma Healthcare (ASX:SIG) signed a binding deal with Chemist Warehouse for the supply of both Pharmaceutical Benefits Scheme (PBS) medicines and Fast-Moving-Consumer-Goods (FMCG) product for a period of five years commencing on 1 July 2024.
Sigma is the incumbent supplier for FMCG product to Chemist Warehouse, and those sales currently represent approximately 29% of Sigma’s net sales revenue.
And Norwest Minerals (ASX:NWM) has completed a placement to Soleado Holdings to raise $1,000,000 at $0.033 per share with 15,136,650 free attaching $0.07 call options.
The funds raised will be used to collect drill samples from the REE enriched clays associated with the Bitter Springs sediments at the company’s Arunta West Project.
The 22-hole aircore drill program is scheduled to commence 14 June with the REE enriched basin clay samples to undergo recovery testing to determine if they classify as ionic adsorption clays (IAC).
At Stockhead we tell it like it is. While Adavale Resources and Norwest Minerals are Stockhead advertisers, they did not sponsor this article.