Stocks of the Hour: Syrah Resources, DigitalX, Alma Metals
Syrah Resources (ASX:SYR) has provided an update on commissioning processes and start of Active Anode Material production at its 11.25ktpa AAM facility in Louisiana. Syrah expects AAM production at Vidalia to start by the end of January 2024. Commissioning processes are well advanced or complete across all parts of the facility, including the key milling, purification and furnaces process areas and equipment, with extensive involvement from Syrah’s operations team as each area of the plant has been handed over. Shares are trading 8.57 per cent higher at 57 cents.
DigitalX (ASX:DCC, OTCQB:DGGXF) has provided the following monthly update to shareholders on its funds under management and value of Bitcoin and digital asset holdings as at the end of December 2023. The DigitalX Bitcoin Fund increased 9.0 per cent for the month and the DigitalX Fund increased 16.3 per cent, compared to an increase of 29.2 per cent for the S&P Cryptocurrency Top 10 Equal Weight Index (AUD). Shares are trading 3.85 per cent higher at 5.4 cents.
Alma Metals (ASX:ALM) has agreed binding terms with Tropex Metals Pty Ltd to acquire two Exploration Permit for Minerals that are strategically located next to the Briggs, Mannersley and Fig Tree Hill joint venture in central Queensland. Upon transfer of the Tropex EPM’s to Alma’s Australian subsidiary, Alma will issue AUD $50,000 worth of Alma ordinary shares to Tropex based on a 10-day VWAP calculated on the day binding transaction documents are executed. These shares will be escrowed for 6-months. Shares are trading flat at 0.9 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.