Stocks of the Hour: Galan Lithium, Pilbara Minerals, Select Harvests, Data#3

Company News

by Melissa Darmawan

Galan Lithium's (ASX:GAL) key resource is the Hombre Muerto West lithium brine project in Argentina. Today, there’s been progress reported from the company’s long-term pump testing program. The testing uncovered high lithium grades, positive porosity results and conditions for high-volume brine production. This will form part of Galan’s current definitive feasibility study. Shares are trading 1.5 per cent higher at $0.99.

Pilbara Minerals (ASX:PLS) has received 41 bids for 5000 dry metric tonnes of its spodumene concentrate. The bids were offered during an auction on the company’s online Battery Metal Exchange platform. The winning bid came in at US$6,188 per dry metric tonne. The delivery is expected from August this year. Shares are trading 2.3 per cent higher at $2.42.

Select Harvests (ASX:SHV) says that its 2022 crop was impacted by weather conditions. This consisted of higher-than-usual humidity leading up to and during harvest where some of the crop required mechanical drying. This means that 100 per cent of the 2022 crop is now secure. Shares are trading 3.1 per cent higher at $5.36.

Data#3 (ASX:DTL) reports that its 2022 net profit grew 19 per cent to $44 million despite product delays due to supply chain issues. The business technology company expects pre-tax profit of at least $6 million for the first-half the current financial year as large backorders are filled. Shares are trading 9.4 per cent higher at $5.29. 

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