Stocks of the Hour: Kingston Resources, Provaris Energy, Caspin Resources
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Kingston Resources Limited (ASX:KSN) today reported that gold production at their Mineral Hill Mine , in NSW, has increased significantly in the first two months of the September quarter. The ramp-up of gold production from the Tailings Storage Facility processing operation has delivered a monthly gold production record in the month of July, which was subsequently exceeded in August to deliver a further production record. Commenting on the production, Kingston Resources Managing Director Andrew Corbett said: “Most notably, production from the TSF Project has delivered continuous monthly gold production records in July and August, and we are pleased to see grade and recoveries improve as expected as mining moves deeper in the tailings facility. Shares are trading 3.4 per cent higher at 9 cents.
Provaris Energy (ASX:PV1) today announced it has executed a Memorandum of Understanding (MOU) with Total Eren, a leading French-based renewable energy Independent Power Producer (‘IPP’), to further their co-operation on the development of solutions to transport green hydrogen projects to Asia and Europe where the application of Provaris’ compressed hydrogen storage and transport supply chain can be applied. Martin Carolan, Provaris CEO commented: “Our discussions with Total Eren over time have identified a strong alignment on the commercial and technical benefits of compression for the storage and transport of hydrogen, and we look forward to a closer relationship to facilitate and accelerate the delivery of the first fleet of GH2 Carriers Shares are trading 7.9 per cent higher at 7 cents.
Caspin Resources Limited (ASX:CPN) today announced significant rhodium mineralisation has been found at the Yarawindah Brook Project in Western Australia, only 100km north of Perth. Caspin’s CEO, Mr Greg Miles, commented “This is an outstanding result that clearly celebrates Serradella as a major PGE discovery. Our best drill result just got better. When we discovered rhodium in our initial discovery hole we commenced a large re-assay program in the hope that further mineralisation would be found. This exercise has surpassed our expectations and with such high-grade results, clearly differentiates Yarawindah Brook from other PGE projects. Shares are trading 17.7 per cent higher at 77 cents.
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Source: Finance News Network
