Stocks of the Hour: RareX, Ora Banda Mining, Sayona Mining

RareX (ASX:REE) has announced more broad +400 metre and +200 metre rare earth and phosphate intercepts have been discovered at their Cummins Range Resource. RareX Managing Director, Jeremy Robinson, said “The impending resource upgrade at Cummins Range is shaping up as a pivotal development in the Company’s strategy to develop a long-life mining and processing operation at Cummins Range.” Shares are trading 4.7 per cent higher at 4.5 cents.

Ora Banda Mining Ltd (ASX:OBM) announced that it has entered into an agreement with Lamerton and Geoda for the sale of certain noncore Lady Ida tenements for a total consideration of $10 million. In response, the managing director, Luke Creagh commented, “The sale of these tenements for $10 million is a great outcome for OBM shareholders as they do not align with OBM’s strategy to target high-grade underground deposits.” Shares are trading 4 per cent higher at 13 cents.

Sayona Mining (ASX:SYA) has announced that 1,200 tonnes of saleable lithium concentrate has been produced at their North American Lithium operation in Québec, Canada. In response, Managing Director, Brett Lynch commented, “As the electrification revolution continues, Québec is in pole position thanks to its sustainable hydropower, leading infrastructure and proximity to market.” Shares are trading 1.2 per cent lower at 21.25 cents.
 
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Source: Finance News Network