Stocks of the Hour: Podium Minerals, Life360, GBM Resources

Podium Minerals Limited (ASX:POD) announced 5E PGM1 results have been received for all outstanding drill holes, including the Central Ore Zone and the diamond core tailed holes. 5E PGM represents a combination of platinum, palladium, gold, rhodium and iridium. In response, managing Director and CEO – Sam Rodda commented, “The presence of high-grade zones and confirmation of rhodium and iridium throughout the orebody will allow us to optimise our resource modelling and studies to consider these areas.” “Our work streams remain focused on growing and understanding the orebody and testing our metallurgy for a preferred processing path as part of refining our path to production.” Shares are trading 11.5 per cent higher at 14 cents.

San Francisco-based Life360 (ASX:360) today announced changes to pricing for some of its US based premium offerings. The Company will implement price changes for certain existing monthly subscribers. Pricing for annual subscriptions remains unchanged. These changes will roll out to existing monthly iOS subscribers on a staged basis, representing approximately 60% of US subscribers, and are expected to take effect by mid-December 2022. Life360 had 42 million monthly active users as at June 2022, located in more than 150 countries. Life360 CEO Chris Hulls said: “Life360 has always focused on providing great value for our members – free and paid. Our last price increase was with the introduction of the three tiers of membership in 2020, which also included the addition of an extensive range of products and services within each tier. With our enhanced product rollouts, we have continued to increase the value of the user experience for all our members. Shares are trading 2.2 per cent higher at $6.01

GBM Resources (ASX:GBZ) today advised that it has executed a A$25m farm-in agreement with Newcrest Operations Limited, a subsidiary of Newcrest Mining, to advance its Mount Coolon Gold Project in the Drummond Basin in QLD, Australia. This farm-in agreement provides the potential for substantial funding to advance exploration on the known mineral resources together with the other targets in the Mount Coolon Project area while allowing GBM to focus its efforts on its highly prospective Twin Hills and Yandan Gold Projects. During the farm-in period , Newcrest will have a first right of refusal over the Twin Hills and Yandan Projects should GBM look to sell or joint venture these assets. Newcrest has the right to acquire up to a 75% interest in the Mount Coolon Project tenements by spending up to A$25m and completing a series of exploration milestones in a 3 stage farm-in over six years. Shares are trading 12.2 per cent higher at 5 cents.
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Source: Finance News Network