Stocks of the Hour: Magnis, Global Lithium Resources, Mesoblast

Company News

by Melissa Darmawan

Lithium players have taken the spotlight with Magnis Energy Technologies (ASX:MNS) stating a game-changer for the transport sector is on the cards. The lithium battery maker said that their recent results from a previously successful fast charging program has repeated itself again on a fast tracked program where the battery life showed no capacity loss after 250 cycles using a 15-minute charge. Shares are trading 11.7 per cent higher at $0.58.

Meanwhile, Global Lithium Resources (ASX:GL1) sealed the deal to buy its 80 per cent stake in the Manna Lithium Project from Breaker Resources valued at $33 million. The offer was unveiled a week ago with the upfront consideration to be payable today. Shares are trading almost 11 per cent higher at $0.96.

Switching gears to the medical field, Mesoblast (ASX:MSB) met with the US FDA watchdog for skin therapies to discuss their letter. It addressed a cell therapy to treat severe inflammation due to a complication around bone marrow transplants for children. The health authorities requested for more information to help progress with its application. Shares are trading almost 3 per cent higher at $1.40.

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