Stocks of the Hour: Enova Mining, Marmota, K2fly

Company News

by Peter Milios

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Enova Mining (ASX:ENV) announced exceptional clay hosted rare earth grades intersected at Poços. The REE enriched tenements at Poços confirm the areas’ potential for a prospect scale high grade REE deposit. Shares are trading 15.38 per cent higher at 1.5 cents.

Marmota (ASX:MEU) announced that the gold program at Campfire Bore has been fully approved. Marmota’s team is now mobilising to site tomorrow to prepare tracks, drill collars and sumps. Shares are trading 2.22 per cent higher at 4.6 cents.

K2fly (ASX:K2F) has entered into a Scheme Implementation Deed with Argyle Bidco Pty Limited, a wholly owned subsidiary of Accel-KKR, under which Accel-KKR will acquire 100% of the shares in K2fly by way of a Scheme of Arrangement. Under the Scheme, K2fly shareholders will be entitled to receive $0.19 cash per share, which represents a 90% premium to K2fly’s undisturbed share price on 20 June 2024 of $0.10 per share. Shares are trading 82.5 per cent higher at 18.25 cents.

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