Stocks of the Hour: Empire Energy, BrainChip, Poseidon Nickel

Empire Energy (ASX:EEG) has provided an operations update and flow testing on their project, C-3H, in the Beetaloo Basin. In response, Managing Director Alex Underwood, stated “At this stage, the rates appear to exceed thresholds that others in the Beetaloo have proposed as being commercial. Empire has high earnings leverage due to the reduced capital costs we enjoy at shallower depths than other parts of the Beetaloo and high net revenue interest (working interest adjusted for royalties) in our Beetaloo properties.” Shares are trading flat at 18 cents.

BrainChip (ASX:BRN) has announced the second generation of the Akida platform aims to power highly efficient and intelligent edge devices for the Artificial Intelligence of Things (AIoT) market. Sean Hehir, BrainChip CEO said, By inferring and learning from raw sensor data, we take a substantial step toward a cloudless Edge AI experience. With this launch, we have significantly extended our competitive advantage in neuromorphic AI.” Shares are trading 13.7 per cent higher at 58 cents.

Poseidon Nickel Ltd (ASX:POS) announced an update on the progress being made on the restart of the Black Swan project, in which there is strong interest surrounding an offtake partner. In response, Managing Director and CEO, Peter Harold commented: “We are planning to finalise the preferred partner/s early in the second quarter of 2023 and we remain on track to announce the Final Investment Decision for the restart during the second quarter. Shares are trading 2.8 per cent higher at 3.7 cents.
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Source: Finance News Network