Stocks of the Hour: Sunstone Metals, Atturra, ABx Group




Sunstone Metals (ASX:STM) have announced that the second hole at the T3 porphyry target within its El Palmar project in Northern Ecuador has intersected strong gold-copper mineralisation. Sunstone Managing Director Malcolm Norris said “This latest result shows clearly that T3 is a significant copper-gold porphyry system” Shares are trading 8.7 per cent lower at 2.1 cents.

IT services company Atturra (ASX:ATA) announced it has entered into a binding scheme of arrangement to acquire 100% of leading managed services and IT solutions provider Cirrus Networks (ASX: CNW). The deal values Cirrus shares at 5.3¢ apiece, around a 30 per cent premium to their close on Friday. Commenting on the acquisition, Stephen Kowal, CEO of Atturra, said “the acquisition of Cirrus had strong strategic and cultural alignment with Atturra’s industry and service capabilities.” Shares are trading 0.56 per cent higher at 90 cents.

ABx Group (ASX:ABX) have announced a 5 year agreement with Adelaide Brighton Cement for the supply of bauxite from ABx’s DL130 Bauxite Project. The first shipment is anticipated to be in Q1 2024.
Abx Group Managing Director and CEO Mark Cooksey said “This 5 year agreement represents a significant milestone for ABx and endorses the suitability of our Bauxite for the broader cement industry. Importantly, regular mining operations to supply ABCL will increase ABx’s ability to secure additional customers, for which there are active discussions” Shares are trading 8.43 per cent higher at 9 cents. 


Name Abbey Phillipps