Stocks of the Hour: R3D Resources, Pacific Current Group, Bastion Minerals

R3D Resources (ASX:R3D) announced that it has completed the refurbishment of its solvent extraction – crystallisation process plant. In response, Managing Director Stephen Bartrop commented: “Cash flows from copper sulphate pentahydrate sales are expected to be a ‘game changer’ for the Company and allow it to achieve its desired self-funding status.” Shares are trading 48 per cent higher at 3.7 cents.

GQG Partners (ASX:GQG) announces that it intends to submit a non-binding indicative proposal to acquire all of the issued ordinary shares in Pacific Current Group (ASX:PAC). GQG Partners Chief Executive Officer Tim Carver stated: “We believe that we can put forward a compelling proposal to PAC shareholders, and that we will be viewed as strategically compelling to both PAC’s underlying portfolio companies and management team.” Shares are trading 31.03 per cent higher at $10.22.

Bastion Minerals Limited (ASX:BMO) will exercise the early option to acquire the three highly prospective lithium property packages located in Ontario, Canada. Bastion’s Executive Chairman, Mr. Ross Landles, said: “We are very encouraged with the early exploration activities undertaken by our team on the ground and we look forward to updating the market shortly on the progress.” Shares are trading 25.93 per cent higher at 3.4 cents.
 
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Source: Finance News Network