Stellar Resources has put a capital raising posse together, with Nero Resource Fund leading the charge
\nGraphite player EcoGraf makes a head-turning collab (MoU) with German chemical giant BASF
\nArrow Minerals and Pursuit Minerals also on the up<\/p>\n
Here are some of the biggest resources winners in early trade, Thursday February 22.<\/p>\n
\u00a0<\/p>\n
Tin explorer Stellar Resources is double digits to the good today after some hefty capital-raising news.<\/p>\n
The company has announced a placement to raise $3.2m to sophisticated, professional investors \u2013 so not a single crypto bro in sight, then.<\/p>\n
This comes at an issue price of $0.008, representing a 14.3% premium to the most recently traded price on February 19 2024, said the company. Note, though, the share price is now sitting at exactly $0.008 as this is typed.<\/p>\n
Nero Resource Fund has agreed to participate in the placement as a cornerstone investor, committing to invest approximately $2.4 million.<\/p>\n
The fresh capital will be used to fund exploration and development on the company\u2019s portfolio of projects including the advanced Heemskirk tin, North Scamander polymetallic projects and general working capital.<\/p>\n
Hang on\u2026 Nero, eh? Now where have we heard that name recently? Ah yes,\u00a0 Stockhead\u2019s chat with Nero investment manager and resources stock picker Rusty Delroy<\/a>, earlier this week.<\/p>\n Nero is clearly long on tin right now, giving\u00a0Metals X (ASX:MLX)<\/a> the nod, which is strongly supported by Hong Kong resources investor APAC.<\/p>\n Metals X is half-owner of the historic Renison Bell tin mine in Tasmania, and Delroy notes the under the radar energy metal is an \u2018incredibly compelling place to be\u2019.<\/p>\n \u201cIt\u2019s almost impossible to find tin assets globally. Again, they\u2019re on pretty good free cash. They continue to accumulate that cash,\u201d he said.<\/p>\n \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span>\u00a0<\/p>\n Graphite stock EcoGraf is up today on the news it\u2019s collaborating with only the largest chemical company in the world by revenue. And that\u2019d be BASF.<\/p>\n EGR has signed a non-binding Memorandum of Understanding with the German titan, which will essentially see EcoGraf support BASF\u2019s recycling R&D in Europe.<\/p>\n That will concentrate on anode recycling specifically to, says EGR, \u201caccelerate the objective of enabling a circular economy and reducing CO2 emissions\u201d.<\/p>\n Where EcoGraf will come in is through utilising its proprietary purification process to recover anode material from BASF\u2019s leached black mass \u2013 generated from production scraps and end-of-life lithium-ion batteries \u2013 \u201cto produce It will also support the anode recycling program by blending the recycled anode with its high purity Tanzanian graphite to increase re-use and uptake.<\/p>\n EcoGraf\u2019s flagship is the Epanko graphite project in Tanzania, where a development-ready graphite mine is being established in a JV with the Tanzanian government.<\/p>\n The JV entity \u2013 Duma TanzGraphite sees an 84% interest held by EcoGraf and a 16% free-carried interest held by the Tanzanian government.<\/p>\n Congrats Andrew and Team EcoGraf for closing the deal with BASF.<\/p>\n BASF is a German multinational chemical company with 41bn market cap.<\/p>\n Ecograf aims to cover the entire value chain for battery anode graphite, from the mine to recycling. #ASX<\/a>: $EGR<\/a> pic.twitter.com\/Vng8YfHShR<\/a><\/p>\n \u2014 Battery Commodity (@ArneLutsch) February 21, 2024<\/a><\/p>\n\n \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span>\u00a0<\/p>\n Arrow is hunting for iron over in West Africa, with its Simandou North Iron Project its main game, at the northern end of the Simandou Range, host to one of the largest undeveloped high-grade iron deposits in the world.<\/p>\n The AMD share price is on the up today because of its Share Purchase Plan (SPP) has revealed to be heavily oversubscribed and is closing early.<\/p>\n The company has reportedly already received in excess of the targeted $500,000 in subscription funds and will close the offer early at 5pm this Friday.<\/p>\n Extensive diamond drilling is currently underway at the Dalabatini target the Simandou North Iron Project. Previous drilling there produced results such as 12m at 60.1% Fe.<\/p>\n This bout of drilling aims to confirm strike, dip and true thickness of the target\u2019s mineralisation, while other high-priority targets at the project will also be drilled as part of the campaign.<\/p>\n \ufeff<\/span>\ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span>\u00a0<\/p>\n (Up on no fresh news)<\/strong><\/em><\/p>\n Pursuit is chasing a lithium in Argentina as well as a diverse group of minerals in WA, with PGE-nickel-copper and gold projects on the go, too.<\/p>\n Why\u2019s it surged by 25% today? Good question, and we don\u2019t have an exact answer for that as yet.<\/p>\n We can tell you, though, that as of early this month, diamond drilling preparation and associated works were commencing at the company\u2019s flagship Rio Grande Sur lithium project in Argentina.<\/p>\n That\u2019s a highly prospective pre-production lithium brine operation ~9,260ha and located within the Rio Grande Salar (27,500ha).<\/p>\n The program currently underway has the aim of targeting resource growth at the existing inferred JORC resource of 251.3kt LCE at 351mg\/Li.<\/p>\n Great to see our #drilling<\/a> platform and road construction in the final stages! Anticipation is increasing as we await the arrival of our drill rigs at site early next week! #lithium<\/a> #exploration<\/a> #batteryminerals<\/a> #ASX<\/a> pic.twitter.com\/Hn8DL2Ler1<\/a><\/p>\n \u2014 Pursuit Minerals Limited (@PursuitMins) February 13, 2024<\/a><\/p>\n\n The company notes that geophysical surveys shows high conductivity zones to depths of 250-500m below the current resource, which are highly prospective for lithium brines.<\/p>\n Meanwhile, drilling permit applications for the next stage of exploration \u2013 at the northern prospect of the Rio Grande Sur project \u2013 are in progress.<\/p>\n The Argentine government reported in January its first monthly budget surplus in nearly 12 years. Positive news as the economy implements policies supporting the domestic economy welcoming foreign investment.https:\/\/t.co\/XzURZ7700N<\/a><\/p>\n \u2014 Pursuit Minerals Limited (@PursuitMins) February 20, 2024<\/a><\/p>\n\n \ufeff<\/span>\ufeff<\/span>\ufeff<\/span><\/span>\u00a0<\/p>\n \u00a0<\/p>\n \u00a0<\/p>\n <\/span><\/p>\n The post Resources Top 4: Tin junior Stellar shoots for $3.2m in funding; Graphite player EcoGraf collabs with BASF<\/a> appeared first on Stockhead<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"SRZ share price<\/h2>\n\n
EcoGraf (ASX:EGR)<\/strong><\/a><\/h2>\n
\nproduct samples for customer evaluation within the battery and industrial markets\u201d.<\/p>\nEGR share price<\/h2>\n\n
Arrow Minerals (ASX:AMD)<\/strong><\/a><\/h2>\n
AMD share price<\/h2>\n\n
Pursuit Minerals (ASX:PUR)<\/strong><\/a><\/h2>\n
PUR share price<\/h2>\n\n