Stocks of the Hour: Bulletin Resources, Paragon Care, Magnis Energy Technologies

Bulletin Resources (ASX:BNR) today provided an update on its Ravensthorpe Lithium Project. The project is located only 12km southwest, along the strike of Allkem Limited’s (ASX: AKE) Mt Cattlin Lithium Mine. BHM Process Consultants were engaged to undertake the testwork. BHM see the results from this early phase of testwork as highly encouraging and confirm the pegmatite mineralisation at the Ravensthorpe Lithium Project to be of a very high quality and able to achieve saleable product grades at high metallurgical recoveries. Shares are trading 3.7 per cent higher at 14 cents.

Paragon Care Limited (ASX:PGC) today announced that an agreement has been reached to acquire the business of Specialist Medical Supplies Pty Ltd (SMS) for $15.5 million. SMS is the leading supplier in Australia of biopsy and skin lesion instrumentation and other related products. Paragon Care’s Group CEO & Managing Director, Mark Hooper commented “While our main focus in the short term is on organic growth, SMS fits neatly into the existing Paragon Care ‘pillar’ structure with significant customer alignment so this acquisition is logical both in terms of strategic match and our capability to expand its portfolio across Paragon Care’s existing sales and distribution channels.” Shares are trading 12 per cent higher at 42 cents.

Magnis Energy Technologies (ASX: MNS) today announced further significant results from the EFC battery program. The results showed only 3% loss of the initial cell capacity after approximately 2600 cycles. The cells are developed using BMLMP technology which delivers superior battery life with fast charge capabilities while containing no nickel or conflict metals such as cobalt and is patented by C4V. Magnis has a 9.65% stake in C4V. Magnis Chairman Frank Poullas commented: “Today’s game changing results are very exciting for everyone involved. With the iM3 new york Lithium-ion Battery Plant being in commercial production, we have a platform to produce batteries using new technologies once they have been commercialised.” Shares are trading 6.5 per cent higher at 49 cents.
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Source: Finance News Network