Stocks of the Hour: INOVIQ, Forrestania, Lincoln, Tamboran

INOVIQ (ASX:IIQ) has announced excellent results from an independent clinical validation study of the company’s SubB2M/CA15-3 test for breast cancer detection. CEO Dr Leearne Hinch said: “Our blood test detected all-stages of breast cancer with 81% sensitivity and 93% specificity, outperforming a leading CA15-3 test.” Shares are trading 19 per cent higher at 60 cents.

Forrestania Resources (ASX:FRS) has announced multiple stacked pegmatites intersected in 13 of 14 holes at the company’s Calypso Prospect, up to 63m thick. In response, MD Michael Anderson commented: “Calypso is only ~4.5km from a known mineralised pegmatite, so any occurrence of pegmatite within this area is significant to Forrestania.” Shares are trading 163 per cent higher at 20 cents.

Lincoln Minerals (ASX:LML) has intersected broad zones of shallow, high-grade graphite mineralisation at the company’s Koppio Graphite Resource in South Australia. LML Chair and Acting CEO, Cath Norman said, “Our forward plan includes upgrading our inventory of Mineral Resources at Koppio and additional drilling in late 2023.” Shares are trading 33 per cent higher at 2 cents.

Tamboran Resources (ASX:TBN) has received commitments for the institutional placement component of its ~$71.4 million capital raise to accelerate development of the Beetaloo. MD and CEO, Joel Riddle, said: “[This] brings the Company one step closer to commercialisation of our acreage in the Beetaloo Basin and funds several key milestones that are expected to unlock this vast, low reservoir CO2 gas resource.” Shares are trading 12 per cent lower at 18 cents.
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Source: Finance News Network