Stocks of the Hour: Sayona Mining, Infomedia & XTEK

Company News

by Lauren Evans

Sayona Mining (ASX:SYA) has completed its $190 million placement to fund the North American Lithium operation in Québec, Canada.The emerging lithium producer said the planned restart of production remains on schedule for the start of 2023, amid growing demand for battery metals produced in North America. Shares are trading flat at $0.21.

American private equity firm Battery Ventures has launched a further bid at $1.75 per share for Infomedia (ASX:IFM), which has now got three suitors on its heel. The offer is non-binding and subject to a number of conditions. However, it's higher than TA Associates and Viburnum Fund’s offer at $1.70 per share, announced earlier this month. Shares in Infomedia are trading 4.8 per cent higher at $1.69.

XTEK’s (ASX:XTE) HighCom Armor Solutions business has received a new purchase order from an international customer valued at $46.8 million (US$33.2 million). The security provider said the scope of supply is for many tens of thousands of individual advanced ballistic protection items, which will be manufactured at its Columbus Ohio facility. Chief executive officer Scott Basham said, "we have booked almost $70 million in new sales orders in the last 90 days, and are expecting to deliver a strong turnaround set of financials for the year end. Shares are trading 35.9 per cent higher at $0.43.

Are you a 708 sophisticated investor?

A sophisticated investor is defined under Section 708 of the Corporations Act (net assets of $2.5 million or annual incomes in excess of $250,000).

They are eligible to receive information regarding wholesale investment opportunities that are not available to regular or retail investors.

Please subscribe if you would like to be alerted to these types of opportunities.