Stocks of the Hour: Future Metals, WA1 Resources, Marmota, Azure Minerals




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Future Metals (ASX:FME, AIM:FME) is pleased to announce it has an updated independent JORC Code Mineral Resource Estimate for its 100% owned Panton Project. The results confirm as the highest grade in Australia and one of the highest grade undeveloped PGM projects globally. Shares are flat at 3.1 cents.

WA1 Resources (ASX:WA1) announced further exploration results from the 100% owned West Arunta Project in Western Australia. In response, WA1’s Managing Director, Paul Savich, commented: “This latest round of assay results, which includes a number of our highest-grade niobium intercepts to date, further expands the mineralised footprint.” Shares are trading 11.25 per cent higher at $6.23.

Marmota (ASX:MEU) announced its decision to re-commence exploration at its Junction Dam Uranium Project to substantially grow the Company’s uranium resource. Marmota Chairman, Dr Colin Rose, said, “The Junction Dam Uranium Resource is one of the most exciting uranium deposits in South Australia. The future for Marmota looks very promising with both Aurora Tank gold and Junction Dam uranium showing the potential to be outstanding deposits.” Shares are trading 12.5 per cent higher at 3.6 cents.

Azure Minerals (ASX:AZS) announced that it has entered into a binding Transaction Implementation Deed with SQM Australia, under which it is proposed that SQM will acquire 100% of the shares in Azure by way of a scheme of arrangement for a cash amount of $3.52 per Azure Share. Commenting on the Transaction, Azure’s Managing Director, Tony Rovira, said, “The Transaction presents a great outcome for other stakeholders in Andover, who will benefit from the project being developed by an experienced, well-capitalised and highly regarded company in SQM.” Shares are trading flat at $2.44.


Name Abbey Phillipps