Stocks of the Hour: Encounter Resources, Myer Holdings, Cleanaway Waste Management

Company News

by Abbey Phillipps

Encounter Resources (ASX:ENR) announced that aircore drilling is expanding the area of shallow, high-grade mineralisation at the Aileron project in the West Arunta region of WA. Continuous near-surface carbonatite has been intersected across four initial aircore drill lines at Crean. Shares are trading 50.72 per cent higher at 52 cents.

Premier Investments advises that it has received a proposal from Myer Holdings (ASX:MYR) to explore a potential combination of Myer and Premier’s Apparel Brands business comprising Just Jeans, Jay Jays, Portmans, Jacqui E and Dotti. The proposal is nonbinding, indicative and conditional. Shares are trading 16.28 per cent higher at 75 cents.

Cleanaway Waste Management (ASX:CWY) has agreed to acquire the waste and recycling business and assets of Citywide Service Solutions for a total consideration of $110 million. The Dynon Road transfer station is a key supplier into Melbourne Regional Landfill, making Cleanaway the natural owner of the business. Shares are trading 1.49 per cent higher at $2.73.

Subscribe to our Daily Newsletter?

Would you like to receive our daily news to your inbox?