Stocks of the Hour: Anax Metals, Brightstar Resources, Element 25 - Sequoia Direct Pty Ltd

13MayMay 13, 2024

Stocks of the Hour: Anax Metals, Brightstar Resources, Element 25

Anax Metals (ASX:ANX) has announced that the strengthened copper prices have enhanced the Whim Creek economics by 32% providing a Pre-Tax NPV7 of $357M and IRR of 74%. The planned 8-year mine life will generate ~$520M in free cash. Shares are trading 15.91 per cent higher at 5.1 cents.

Brightstar Resources (ASX:BTR) has made an off-market takeover bid for all the ordinary shares and options in Linden Gold Alliance. Brightstar has released both a first supplementary target's and bidder’s statement. Shares are trading 5.88 per cent higher at 1.8 cents.

Element 25 (ASX:E25; OTCQX:ELMTF) is accelerating activities for the planned expansion of its Butcherbird Manganese Project in WA, as outlined in the Feasibility Study released in January 2024. Key areas of focus include process optimisation, Front-End Engineering and Design (FEED) activities, project finance and permitting. Shares are trading 13.79 per cent higher at 33 cents.

Copyright 2024 – Finance News Network

Source: Finance News Network

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