Stocks of the Hour: Azure Minerals, AuKing, Delorean Corp, Carbonxt Group

Azure Minerals Limited (ASX:AZS) announced that the Company has received further high grade lithium assay results from the pegmatite exploration program on the Andover Project, located near the town of Roebourne in the West Pilbara region of Western Australia. In response, Azure’s Managing Director, Mr. Tony Rovira said, “The latest batch of assays returned high grades of lithium up to 3.32% Li2O, which is the highest lithium grade reported to date. Encouragingly, our geological mapping is identifying the presence of the preferred lithium-bearing mineral, spodumene, in many of the outcropping pegmatites.” Shares are trading 22.1 per cent higher at 26 cents.

AuKing (ASX:AKN) has today announced that they have acquired a 100% interest in six projects in Tanzania – four prospective for uranium (Mkuju, Manyoni, Itigi and Magaga) and the other two prospective for copper (Mpanda and Karema). In response, AuKing CEO, Paul Williams stated, “The company now has the ability to pursue and develop uranium assets in a stable African jurisdiction at a time when there is significantly renewed interest in the development of uranium projects.” Shares are trading 21.1 per cent higher at 12 cents.

Delorean Corporation (ASX:DEL) this morning announced the company has entered into a binding agreement to form a multi-project development funding partnership to support DEL’s project funding for up to $200m. Funds will be managed by Palisade Impact and arranged by Planum Partners. DEL’s Managing Director Joe Oliver commented, “This development funding partnership with Palisade Impact is a major milestone for Delorean’s business. DEL listed on the ASX in April 2021 with the specific purpose of focusing on development and capitalisation of its own bioenergy infrastructure pipeline, to diversify the business beyond its already growing construction project portfolio and WA energy retail revenues”. Shares are trading 32.3 per cent higher at 9 cents.

United States focused Clean Technology Carbonxt Group (ASX:CG1) announced the renewal and extension of its longstanding partnership with the US utilities provider, Wisconsin Public Service WPS for the supply of AC Pellets to 2030. The agreement confirms a continuation of a highly successful partnership to develop an engineered pellet solution for emissions reductions. Managing Director of Carbonxt, Warren Murphy, stated, “This long-term contract extension marks a major step forward for Carbonxt and locks in higher margin revenue for the next eight years. As well, it sets the company up with a strong platform for additional sales growth in the US market. We are delighted to continue our partnership with WPS and we will continue to support WPS and its long term emissions reduction goals.” Shares are trading flat at 10 cents.
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Source: Finance News Network