Stocks of the Hour: Golden State Mining, New World Resources, Boab Metals, Neometals
Golden State Mining (ASX:GSM) has confirmed that pegmatite Dykes has been identified at the Paynes Find lithium project. Golden State’s Managing Director, Michael Moore commented: “The Paynes Find project was pegged by GSM after a high-level targeting exercise identified it as having the right geological attributes to host lithium mineralisation. We now look forward to finalising drill target areas and undertaking drilling in early 2024.” Shares are trading 50 per cent higher at 2.4 cents.
New World Resources (ASX:NWC) has entered into a binding agreement whereby Trident Royalties will provide New World with $11 million in exchange for a 0.9% NSR royalty over the high-grade Antler Copper Project in Arizona, USA. In response, New World’s Managing Director, Mike Haynes, commented, “the Company is now well financed to continue to advance the Antler Copper Project towards initial production, which is targeted to coincide with a period when a substantial shortfall in global copper supply is forecast.” Shares are trading 15.38 per cent higher at 3 cents.
Boab Metals (ASX:BML) has intersected zinc-lead sulphide mineralisation between 242 and 257m at the at its 75% owned Sorby Hills Project located in the Kimberley Region of Western Australia. Boab Managing Director and CEO, Simon Noon, stated: “this is an outstanding success given the conceptual nature of the target and its location in an area, and at a depth where no mineralisation has been intersected before.” Shares are trading 13.04 per cent higher at 13 cents.
Neometals (ASX: NMT & AIM: NMT) announced the successful production of battery-grade nickel sulphate by its LIB recycling incorporated joint venture, Primobius. Primobius’ German lithium-ion battery (“LIB”) recycling demonstration trial generates battery-grade nickel sulphate exceeding Chinese cathode producer specifications from recyclingEV batteries. Shares are trading 6.38 per cent higher at 25 cents.
Peter Milios is a recent graduate from the University of Technology - majoring in Finance and Accounting. Peter is currently working under equity research analyst Di Brookman for Corporate Connect Research.