Stocks of the Hour: Liontown Resources, Weebit Nano & Winchester Energy

Company News

by Lauren Evans

Liontown Resources (ASX:LTR) has locked in a binding offtake agreement with Ford, and announced a final investment decision for its Kathleen Valley lithium project in WA. CEO Tony Ottaviano said, “not only have we completed our disciplined off-take process with a third foundational binding agreement with leading global auto-maker Ford, we have also secured an extremely attractive $300 million funding facility from Ford and announced a final investment decision for our Kathleen Valley lithium project, paving the way for construction to begin immediately on Australia’s next major battery materials project.” Shares are trading 8.7 per cent higher at $1.16.

Tech company Weebit Nano (ASX:WBT) has taped-out its resistive random-access memory module to SkyWater. This is the first tape-out of Weebit’s technology in a production fab and is a major milestone toward commercialisation, according to the company. It also said that the technology is ideal for applications like analog, power management, automotive and medical, while SkyWater customers can now use the demo chip as the final platform for testing and prototyping ahead of volume production. Shares are trading 7.4 per cent higher at $2.31.

Winchester Energy (ASX:WEL) has executed an agreement with private US-based oil company Westex Resources that allows Winchester to farm-in to the group prospect which is contiguous to its Whiteside Prospect in Texas. The farm-in allows for additional work on a 75 per cent Winchester to 25 per cent Westex working basis, in order to fast track increased oil production. Shares are trading 10 per cent higher at 1.1 cents.

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