Stocks of the Hour: Magnis Energy Technologies, Sayona Mining, Pure Hydrogen, Ragusa Minerals
Magnis Energy Technologies (ASX:MNS) today announced that it has completed an update to the 2016 Bankable Feasibility Study (BFS) for its Nachu graphite project in Tanzania and confirms that the Project continues to demonstrate strong financial and technical viability. Commenting on the completion of the BFS update, Magnis Energy Technologies, CEO, David Taylor stated: “The update to the BFS demonstrates that the Nachu Graphite Project represents one of the best graphite production opportunities in today’s market. The project will produce a high quality, sustainable product that requires minimal purification, placing Magnis in a strong competitive position relative to others in the market. Our high purity graphite concentrate will provide lithium-ion battery manufacturers and other industrial customers with an attractive and competitive alternative to current sources in the global graphite market. Shares are trading 1.3 per cent higher at 40 cents.
Emerging lithium producer Sayona Mining Limited (ASX:SYA) announced today that it is advancing the restart of production at its North American Lithium (NAL) operation, awarding a four year, approximately C$200 million contract to Québec company Fournier & Fils for mining operations. Under the agreement, Fournier will be responsible for the supervision of all stripping and drilling, blasting, loading and transportation of ore and waste rock, the maintenance of mining roads, and all other services related to operations. Sayona Québec CEO, Guy Laliberté, said the agreement marked another important step in the restart of operations at NAL. “We are very happy to have found a partner of the calibre of Fournier & Fils for our mining operations at the North American Lithium site in La Corne,” Mr Laliberté said. “We are thrilled that this commercial agreement is not only a win win solution for both parties, but that it also allows us to work with a local company. This partnership with Fournier therefore helps fulfil our promise to ensure that the success of our projects deliver genuine benefits to the local community.” Shares are trading 6.8 per cent higher at 24 cents.
Australian clean energy company Pure Hydrogen Corporation Limited (ASX:PH2 ) is pleased to advise that hydrogen fuel cell EV manufacturer, H2X Global, has confirmed the initial production release of its Warrego All Wheel Drive Pick-Up. The pickup is now undergoing final validation and verification testing procedures in the Netherlands as it heads towards formal certification in Europe and global markets. Australian certification testing will be commenced soon. H2X Global CEO and founder, Brendan Norman, said the completion of the first Warrego pickup was a milestone of success for the company. “It is extremely satisfying that our team now have the Warrego running through the final stages of its engineering, safety and on road verification program,” Mr Norman said. “It is true that we have had some frustrating delays over the past nine months due to supply chain complications. Shares are trading 4.3 per cent higher at 24 cents.
Ragusa Minerals (ASX:RAS) today advised progress towards commencement of the maiden drilling program at the NT Lithium Project, with completion of site preparation earthworks, including access track and drill pad clearing. Ragusa Chairperson, Jerko Zuvela said “The Company is very excited as we prepare to commence our maiden drilling program at our strategic and highly prospective NT Lithium Project. This puts Ragusa in a strong position to rapidly accelerate the development of our project within a proven high-quality lithium district. We have a significant opportunity to utilise our exploration and development experience to rapidly progress our NT Lithium Project and realise the massive upside value potential in a Tier 1 jurisdiction close to major infrastructure at a time of record lithium prices.” Shares are trading 35.9 per cent higher at 43 cents.
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Source: Finance News Network
