Stocks of the Hour: Anson Resources, Dreadnought Resources, Australian Pacific Coal

Company News

by Abbey Phillipps

Anson Resources (ASX:ASN) today announced a major upgrade to its JORC Mineral Resource estimate) for its Paradox Lithium Project in Utah, USA. The delivery of the Mineral Resource upgrade represents a significant achievement in the development pathway of the Project, and it will now be incorporated into the Project’s Detailed Feasibility Study which is being finalised by global engineering group, Worley, for release in the near future. Shares are trading 17.2 per cent higher at 17 cents.

Dreadnought Resources (ASX:DRE) today announced that infill RC drilling, has continued to intersect thick, mineralised, rare earth element ironstones at Yin, within its 100% owned Mangaroon Project. Dreadnought’s Managing Director, Dean Tuck, commented: “With over twelve thousand metres of drilling now complete at Yin, our understanding of the petrophysical properties has significantly improved. He further added that this understanding has led to the identification of the Yin trend extending for 16kms, on which to date we have only drill tested 3kms. Shares are trading 4.8 per cent higher at 11 cents.

Australian Pacific Coal (ASX:AQC) today announced that the company has received a non-binding alternative proposal to the sale of the Dartbrook Project to Nathan Tinkler and his backers. Tinkler and his backers are understood to be proposing a 30¢ a share takeover offer for the company, and would also refinance debts worth about $60 million. Shares are trading 96.3 per cent higher at 27 cents.

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