Stocks of the Hour: NOVONIX, Latin Resources, Andromeda Metals, Jindalee Resources
NOVONIX (ASX:NVX) have signed an agreement for the joint research and development of artificial graphite anode material for lithium-ion batteries. Also, in a separate agreement, NOVONIX has agreed to issue an aggregate principal amount of US$30 million unsecured convertible notes to LGES. Shares are trading 7.22 per cent higher at $1.04.
Latin Resources (ASX:LRS) announced the completion of a major resource definition drilling program at the Colina Lithium Deposit in Brazil. VP of Operations – Americas, Tony Greenaway commented: “We believe that we will see a significant expansion in the JORC resource for Colina, given the exceptional results we have been seeing in our drilling this year.” Shares are trading 5.88 per cent higher at 18 cents.
Andromeda Metals (ASX:ADN) signed a Term Sheet for the supply of high quality kaolin from the Great White Project during the first 5 years of production, into China. CEO & MD said, “Sales of our premium refined Great White CRM™ product fits strategic positioning and commercial strategy.” Shares are trading 8.57 per cent higher at 3.8 cents.
Jindalee Resources (ASX:JRL) has commenced a PFS on their McDermitt Lithium Project in Oregon, USA. For the PFS, the Company has brought in global engineering and maintenance company Fluor Corporation. Shares are trading 0.49 per cent lower at $2.04.