Stocks of the Hour: Whitebark Energy, Lincoln Minerals, Walkabout Resources

Whitebark Energy (ASX:WBE) has announced the quadrupling of oil production at their Wizard Lake project. In response, Whitebark Interim CEO, Dr Simon Brealey, commented: “Rex-4 continues to perform increasingly well, as modelled, and as its oil cut increases and it makes a more significant contribution to overall field production we expect revenue to increase strongly.” Shares are trading 50 per cent higher at 0.15 cents.

Lincoln Minerals (ASX:LML) has announced that they have locked in drilling for early March 2023, in which they signed a contract with Bullion Drilling to undertake exploration drilling on the Company’s Koppio graphite project. In response, Sam Barden CEO & MD of Lincoln Minerals commented, “This is an exciting time for Lincoln Minerals as we shake the COVID largesse of the past few years, which has greatly hampered our exploration activities.” Shares are trading 24 per cent higher at 3.1 cents.

Walkabout Resources (ASX:WKT) has announced that it has secured a US$10 million funding commitment from Battery Metals Capital Group. CEO of Walkabout Resources, Andrew Cunningham commented, “Building confidence in the necessary financial resources to move to production is most welcome by customers, contractors and other funding providers.” Shares are trading 9.5 per cent higher at 11.5 cents.
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Source: Finance News Network