Stocks of the Hour: Ionic Rare Earths, Anson Resources, Pacgold

The Board of Ionic Rare Earths (ASX:IXR) has received a grant of 1.72 million pounds (A$2.9m) from the UK Government Advanced Propulsion Centre (APC) to Seren Technologies, a 100%-owned subsidiary. Commenting on the successful application and award, Mr Tim Harrison, Ionic’s Managing Director, said: "This is a tremendous endorsement from the UK Government and the APC on the potential for scaling our technology offering from SerenTech. This grant validates the significance of magnet recycling in a tight supply market as well as pointing to the additional value for IonicRE shareholders in the longer-term.” Shares are trading 7.3 per cent higher at 4 cents.

Anson Resources (ASX:ASN), through its 100%-owned subsidiary A1 Lithium Inc, today announced the completion of the Definitive Feasibility Study for Phase 1 of the Paradox Lithium Project, located in Utah, USA. The DFS results confirm the project’s advanced potential to become a major supplier of high-purity, battery-grade lithium carbonate into the US EV market, initially producing 13,000 tonnes per annum of high-purity lithium carbonate over an initial 10 years of project life. Anson’s Executive Chairman, Mr Bruce Richardson, stated: “We are very excited to deliver the Paradox Lithium Project Phase 1 DFS to market. The DFS confirms the technical and financial viability of a major new source of high purity Lithium Carbonate available for the rapidly growing US market. The Project delivers industry leading ESG credentials based on direct lithium extraction utilising Sunresin technology using lower energy and water consumption, and with spent brine being reinjected back into the Paradox." Shares are trading 34.8 per cent higher at 40 cents.

Pacgold (ASX:PGO) has provided an update on the Alice River drilling program. A total of 22 drill holes have been completed on the Central Target in the current program, with assay results pending for 12 drill holes. The current drilling program is approximately 50 per cent advanced. Pacgold Managing Director Tony Schreck said: “The intersection of visible gold over a sixteen metre zone is a stunning outcome and represents the first of what we believe could be potential multiple high-grade zones developed along the F1a zone." Shares are trading 19.1 per cent higher at 50 cents.
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Source: Finance News Network