Stocks of the Hour: Sayona Mining, Arovella Therapeutics, Lake Resources, Immutep

On Friday, Sayona Mining (ASX:SYA) announced an update on their Definitive Feasibility Study confirming the North American Lithium operation with an NPV of A$2.2 billion. Today, the Company announced an expansion on their measured, indicated and inferred Moblan Lithium project, representing one of North America’s single largest lithium resources. Shares are trading 5.13 per cent higher at 20.5 cents.

Arovella Therapeutics (ASX:ALA) announced that their main product – ALA-101, confers significant antitumor effect and survival benefits in the aggressive leukaemia model. CEO and MD, Dr Michael Baker, commented, “The fact that we see a statistically significant lifespan extension in an aggressive leukaemia animal model provides excellent data to indicate our product's potency.” Shares are trading 17.72 per cent higher at 9.3 cents.

Lake Resources (ASX:LKE) has successfully produced 2,500kg of lithium carbonate with minimal environmental impact. In response, the Company, and partner Lilac Solutions, stated “we’ve proven that it is possible to produce high-purity lithium faster and without evaporation ponds – all while protecting surrounding communities and ecosystems.” Shares are trading 7.61 per cent higher at 49.5 cents.

Immutep (ASX:IMM) announces the initiation of investigator-initiated Phase II trial in sarcoma, a tumour that occurs in the bones and soft tissues. It is the first time efti will be studied in a non-metastatic cancer setting. In response, CEO Marc Voigt added ““Efti’s unique potential to help safely drive superior clinical efficacy for cancer patients, … is attracting increasing attention from industry and academia.” Shares are trading 2.04 per cent lower at 24 cents.
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