In Case You Missed It: US cobalt funding, Canadian hospital contract and a fertiliser plant
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).
As part of its strategy to shore up a critical minerals supply chain, the US Department of Defense (DOD) is providing US$15m to Jervois (ASX:JRV) to help fund its Idaho Cobalt Operations (ICO) mine.
Jervois will use the cash to conduct feasibility studies to expand its current cobalt mineral resource at the RAM deposit and potentially delineate the adjacent Sunrise resource.
As part of the agreement, the funding will also be put towards a bankable feasibility study for a cobalt refinery in the US.
The ICO’s mineral resource is the largest and highest-grade confirmed cobalt orebody in the US, with 3.78Mt @ 0.52% cobalt, 0.84% copper and 0.54g/t of gold.
“In investing in domestic cobalt resources, Industrial Base Policy is building a sustainable, responsible industrial base capable of meeting our future national defense challenges,” DOD’s Dr Laura Taylor-Kale said.
“Investments such as these execute President Biden’s focus on strengthening supply chains for critical minerals for large-capacity batteries and are one step in the Defense Department’s strategy for minerals and materials related to batteries.”
Austco Healthcare’s (ASX:AHC) Canadian subsidiary has secured a $7.4m contract to supply its industry-leading Tacera alarm management and clinical workflow solution for the new 548-bed St. Paul’s Hospital in Vancouver – representing the largest single contract award in Austco’s history.
Construction of the new hospital has commenced, with revenue recognition expected to begin in this current financial year.
Fertiliser chemical business Minbos Resources (ASX:MNB) has signed a US$4.25m EPCM contract to construct its Cabinda phosphate fertiliser plant in Angola.
The project has a mining target of 6.5Mt @30.2% phosphate across a 21-year life of mine, and is targeting an initial production capacity of 150,000 tonnes per annum (tpa), increasing to 450,000tpa.
And Dynamic Metals (ASX:DYM) has engaged a rig and crew to complete an air core campaign at Widgiemooltha, with 48 drill holes planned to test three prospects across the project area.
A total of 2,099m was drilled, and all samples have been dispatched to the laboratory in Kalgoorlie for assaying, with results anticipated late July.
At Stockhead we tell it like it is. While Dynamic Metals is a Stockhead advertiser, it did not sponsor this article.