Stocks of the Hour: Aeon Metals, ReNu Energy, Infinity Lithium Corporation

Aeon Metals (ASX:AML) have announced that they have returned exceptional results at its Walford Creek Copper-Cobalt Project (Walford Creek Project) in north-west Queensland. Thirty one exploration holes have been completed for over 11,700 metres of drilling in 2022. The results for the hole extend the Amy West high grade copper-cobalt footprint a further 90 metres east of hole. In response, Aeon Managing Director and CEO, Dr Fred Hess, commented, “The drilling results announced today reinforce the potential for the Amy zone to host significantly higher grade and thicker PY3 mineralisation than that already identified at the well-drilled Vardy and Marley zones further to the east.” Shares are trading 25 per cent higher at 3 cents.

ReNu Energy (ASX: RNE) and its wholly owned subsidiary, Countrywide Hydrogen Pty Ltd (Countrywide) announced that they have agreed to non-binding Term Sheet for the investment of up to $100 million in ReNu Energy’s Green Hydrogen Projects with Australian superannuation fund, HESTA. In doing so, HESTA will be provided a first right of refusal to invest in existing and new Green Hydrogen Projects. The parties may otherwise agree to add additional investors to the Green Hydrogen Projects. In response to the news, ReNu Energy Chairman Boyd White said, “HESTA is highly respected for its commitment to sustainability and responsible investments. With HESTA’s support we look forward to delivering green hydrogen and contributing to a low carbon future.” Shares are trading 125 per cent higher at 9 cents.

Infinity Lithium Corporation (ASX:INF) through its wholly owned subsidiary Extremadura New Energies, announced the execution of a binding MoU for a photovoltaic, methane and green hydrogen project aligned to the San José Lithium Project. San José has the potential to take advantage of the vast renewable energy opportunities in Extremadura and to benefit from reduced energy costs from the localised green energy project that can meet renewable electricity and green hydrogen requirements of the Project. Infinity Managing Director and CEO Ryan Parkin noted “The partnership with Extremadura’s preeminent and progressive company further reinforces the positive momentum and complementary opportunities aligned to San José following the initiation of the permitting process last month.” Shares are trading 9.5 per cent higher at 23 cents.
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Source: Finance News Network