Stocks of the Hour: Ioneer, Centrepoint Alliance, Globe Metals & Mining
Ioneer ( ASX:INR) has signed a 5-year binding off take agreement with ford. Under the agreement , Ioneer will deliver 7k tonnes per annum of lithium carbonate to Ford over a 5 year term, starting in 2025. We asked CEO Bernard Rowe to comment on todays announcement. Bernard Rowe said, ”The full binding offtake agreement with Ford is a significant milestone for Ioneer, highlighting the mature state of the Rhyolite Ridge project development and its ideal position to serve US supply chain with domestic battery materials. Put simply, this strategic relationship means Nevada Lithium for American cars, and it will lead to job creation across all levels of the electric vehicle supply chain within the United States. We look forward to working and continuing to work with Ford and its partners to develop a secure and reliable end-to-end U.S EV industry". Ioneer shares are trading 6.1 per cent higher at 53 cents.
Centrepoint Alliance (ASX:CAF) today announced a Preliminary FY22 EBITDA of A$7.2m. The financial services business.a leading provider of advice and business services to financial advice firms throughout Australia. Centrepoint Alliance continues to grow its licensed adviser base of authorised representatives both organically and via acquisition. The Company ended FY22 with 517 licensed advisers. This growth was attributable to the acquisition of 175 ClearView advisers in November 2021, and an additional net growth of 27 advisers from the market. Analysts suggest this is a positive indication that the sector is beginning to price services to be able to generate positive cash flow once scale is met. Positive cash flow of $6.4m and the $14m cash balance appears to be the highlights. Shares are 3.4 per cent higher at 30 cents.
Globe Metals & Mining Limited (ASX: GBE) provided an update on the progress of the finalisation of the Mining Development Agreement (MDA) for the Kanyika Niobium Project. Globe confirms that it has received formal communication from the Malawi Ministry of Mining advising that the negotiations and attendant review of the draft Kanyika Niobium Project MDA have been consummated, following a recommendation for approval made by the Government’s MDA Steering Committee. The letter further states that the Ministry of Justice is vetting the final draft of the MDA, in readiness for submission to the Ministers of Mining and Finance for approval and signing which may take place in due course. Shares are trading 15.7 per cent higher at 10 cents.
Copyright 2022 – Finance News Network
Source: Finance News Network
