Stocks of the Hour: Tamboran Resources, Archer Materials, 5E Advanced Materials
Tamboran Resources (ASX:TBN) announced today that they have now received the final regulatory approvals required to begin drilling in their 100% owned operated lease in the Beetaloo Basin, EP136. The approval of the Environmental Management plan by the Northern Territory Government clears the way for the program to begin in early September and includes approval for up to seven wells beginning with the Maverick 1H well, planned for next month. EO Joel Riddle said “Subject to success, the drilling of these three wells have potential to deliver Proved plus probable contingent resources of 1 trillion cubic feet (TCF)”. He went on to explain that booking 1TCF (or trillion cubic feet) of contingent resources “would allow Tamboran to sanction the proposed 100TJ (terajoule) per day Maverick Pilot development by the end of calendar year 2023”. Shares are trading flat at 22 cents.
Archer Materials (ASX:AXE) today announced the granting of the Hong Kong patent associated with Archer’s quantum computing chip technology . Archer is the only ASX listed company and one of a few players in the world developing qubit processor chip technology in the semiconductor industry. Commenting on the grant, Archer CEO said: “The grant of the 12CQ chip patent in Hong Kong is great news. A patent is evidence of invention and patent protection in major markets is a central element in Archer’s strategy to develop the 12CQ chip. Shares are trading 4.8 per cent higher at 88 cents.
5E Advanced Materials (ASX:5EA) an exploration critical mineral and lithium company ,with U.S. government Critical Infrastructure designation for its Fort Cady asset, today announced that it has entered into a definitive agreement with Bluescape Energy Partners for a $60 million private placement of senior secured notes convertible into common stock of the Company . Commenting on the Investment , 5E President and CEO, Mr. Henri Tausch noted: “We are pleased to partner with Bluescape as they are a respected U.S. institutional investor that offers value to our Company far beyond that of a typical financial investment. Shares are trading 19 per cent higher at $2.62.
Copyright 2022 – Finance News Network
Source: Finance News Network
