Stocks of the Hour: Magnis Energy, QX Res, Rhythm Biosciences, Wildcat Res




Magnis Energy Technologies (ASX:MNS; OTCQX: MNSEF; FSE:U1P) has announced that their lithium ion cell manufacturer iM3NY has entered into a JV Agreement with OSM. iM3NY CEO commented: “This partnership is strategically important for the electrification of the automotive industry in India and the Middle East." Shares are trading 4.76 per cent lower at 20 cents

Following yesterday’s interview with ShareCafe, QX Resources (ASX:QXR) has entered a non-binding letter of intent (LOI) for the right to acquire a controlling interest in a Liberty Lithium brine project - in California, USA. MD Stephen Promnitz commented, “Projects like this could be amenable for direct lithium extraction (DLE) or evaporation for pre-concentration.” You can watch the full interview via the FNN website. Shares are trading 5.88 per cent higher at 3.6 cents.

Rhythm Biosciences (ASX:RHY) announced that its product, called ColoSTAT®, has been granted UKCA Mark. Chief Commercial Officer, Elena Deak, commented “Over time we expect the market size to continue expanding, as various bodies encourage earlier age screening.” Shares are trading 120 per cent higher at 77 cents.

Wildcat Resources (ASX:WC8) is set to acquire a rich mineralised LCT pegmatite field in the world class Pilbara lithium province in WA. Executive Director Matthew Banks commented “On deal completion we will welcome a range of major shareholders to the Company and look forward to following through with discovery-focussed drill programs earmarked for 2023.” Shares are trading 45 per cent higher at 5.8 cents.


Name Abbey Phillipps