Stocks of the Hour: Allkem, ENRG Elements, Redflow

Global lithium leader, Allkem (ASX:AKE) has made several announcements today, however we will focus on the one made regarding their James Bay Lithium Project. The updated Feasibility Study confirms a robust, high-value hard rock lithium operation utilising renewable hydropower, in which there was a ~108% increase in pre-tax Net Present Value (“NPV”) to US$2.9 billion. Shares are trading 3.25 per cent lower at $11.62.

ENRG Elements (ASX:EEL, OTC:EELFF) has executed a binding Share Purchase Agreement with Kavango Resources, for the sale of 90% of its Ghanzi West Copper-Silver Project. The proceeds from the sale of 90% of the Ghanzi West Project will enable the Company to advance its projects in Niger. Shares are trading 16.67 per cent higher at 0.7 cents.

Redflow (ASX:RFX) has announced that the U.S. Department of Energy has approved funding for a 34.4 MWh long-duration energy storage microgrid project in which Redflow has been named as the battery provider. In response, Redflow CEO and Managing Director Tim Harris said: “Our batteries are ideally suited for daily use in the Central Valley’s extreme heat, and we’re proud to provide the resources the hospital needs to ensure safe, reliable operations.” Shares are trading 5.45 per cent higher at 29 cents.
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Source: Finance News Network