Stocks of the Hour: Resource Base, AVITA Medical, Selfwealth

Resource Base (ASX:RBX) has secured an option to acquire two highly prospective lithium projects in Québec. Resource Base Non-Executive Chairman, Maurice Feilich, commented, ““The James Bay Lithium District, which is home to Patriot Battery Metals (ASX:PMT) and Winsome Resources (ASX:WR1), is one of the leading hard rock lithium locations globally.” Shares are trading 26.9 per cent higher at 16.5 cents.

AVITA Medical (ASX:AVH) has reported their fourth quarter 2022 results. The results include a 4 per cent increase in revenue and a gross profit margin of 82 per cent. In response, Jim Corbett, AVITA Medical Chief Executive Officer. “We continue to execute on our growth strategy, with all areas of our business exceeding my expectations. Looking Ahead … We expect FDA approvals in June 2023 for our soft tissue repair and vitiligo indications.” Shares are trading 17.9 per cent higher at $3.10.

Selfwealth (ASX:SWF) the online investment platform has announced record revenue and positive cash flow in its first half financial year 2023 results. Of its $14.5m revenue only $4.5m came from brokerage declining from $7m from the previous corresponding period. The real driver of revenue was the $9.6m that came from the cash haircut on client balances. It appears that rate rises are a good hedge for declining brokerage revenue for SWF. Shares are trading 16.4 per cent higher at 19.5 cents.
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Source: Finance News Network