Stocks of the Hour: WA1 Resources, Allup Silica, Dynamic Group Holdings

WA1 Resources Ltd (ASX:WA1) has announced further exploration results from drilling at the 100% owned West Arunta Project in Western Australia. Assays from broad-spaced diamond and RC drilling in the central and eastern zones has further extended and demonstrated continuity of the shallow high-grade blanket of niobium mineralisation at Luni. WA1’s Managing Director, Paul Savich, commented: “Today’s results continue to increase the scale and quality of Luni’s niobium mineralisation, with further broad high-grade intercepts returned in the central and eastern zones. Metallurgical testwork programs are progressing well and we continue to target the release of an initial Mineral Resource estimate for Luni late in the June quarter.” Shares are trading 1.96 per cent higher at $11.44.

Allup Silica Limited (ASX:APS) announced results from the latest round of sampling at its Cabbage Spot Silica Sand Project in WA. The Company reported it has identified multiple large areas of High Purity Silica Sand. Results from 43 surface samples have returned SiO2 (Silica) grades greater than 98%, with an average grade of 98.6%. Beneficiation testwork is now underway to determine the potential of Cabbage Spot silica sand for high-tech and photovoltaic applications. Shares are trading 217.24 per cent higher at 9.2 cents.

Dynamic Group Holdings Limited (ASX:DDB) announced today it has been awarded a new long term gold production Drill & Blast contract. The Company estimates the new contract will generate additional revenue of between $60m and $65m. The contract was awarded by Silver Lake Resources Limited in the Eastern Goldfields region of Western Australia. Dynamic Group Executive Director Matt Freedman commented that “This contract award helps to underpin our strategy of building a resilient and production focussed portfolio of projects, while continuing to generate opportunities to redeploy our resources to long-term engagements in areas we have strong experience within, from a commodity perspective as well as geographically” Shares are trading 2.56 per cent higher at 20 cents.

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