Stocks of the Hour: Ragusa Minerals, ABx Group, AML3D

Company News

by Abbey Phillipps

Ragusa Minerals (ASX:RAS) today advised that it has received notification from the Northern Territory’s Mineral Titles office that the Company’s 100% owned tenement EL33150 has been granted – part of the NT Lithium Project (“Project”) EL33150 was granted on 16 September 2022 for a period of 6 years. The Company identified the highly prospective tenement (and associated project area), as prospective for lithium from historical geological mapping works and the interpreted continuation of the geological rock-types found in the neighbouring lithium projects, indicating a high level of lithium prospectivity throughout the region. Ragusa Chair, Jerko Zuvela said “The Company’s strategic and highly prospective NT Lithium Project – with high grade historical and confirmatory lithium sample results, approved MMP for drilling commencing soon, and now contains five granted tenements. This is another very positive milestone that puts Ragusa in a strong position to rapidly accelerate the development of our project within a proven high-quality lithium district. We have a significant opportunity to utilise our exploration and development experience to rapidly progress our NT Lithium Project and realise the massive upside value potential in a Tier 1 jurisdiction close to major infrastructure at a time of record lithium prices.” Shares are trading 14.3 per cent higher at 28 cents.

ABx Group Limited (ASX:ABX) today provided assay results which confirm a 6.5km mineralised channel connecting the Company’s Deep Leads and Rubble Mound rare earth discoveries, located in northern Tasmania. The clay-hosted rare earth elements (REE) occur within a shallow channel structure that increases the prospect size by 27% to 5.1 km2 and demonstrates the potential for the mineralised zone to deliver thick intersections as well as expand significantly along strike. Commenting on the discovery, ABx Group MD and CEO Dr Mark Cooksey said: “Our latest results represent a milestone moment in our development of the rare earth channel at Deep Leads and Rubble Mound. The extensive channel structure has connected and combined the two discoveries into a single deposit and, excitingly, the mineralisation has also been shown to return results which are thick – exceeding 20 metres thickness – and near surface. Shares are trading 9.7 per cent higher at 17 cents.

AML3D (ASX:AL3) has announced the company is continuing to develop its strategically important relationship with the Boeing Company (NYSE:BA) by agreeing to an expanded scope for the supply of 3D printed components. The Boeing company develops, manufactures and services commercial aeroplanes, defence products and space systems for customers in more than 150 countries. Boeing has updated the scope of the July 2022 purchase contract to include the next phase of Aluminium test parts in the form of prototype components. This has significantly increased the value of the July contract by an additional 150%. AML3D Managing Director, Andrew Sales, commented: “AML3D has already demonstrated to Boeing that our proprietary WAM® 3D metal printing technology produces high quality parts on time and to specification. The expanded purchase contract is strategically important as it moves AML3D towards being embedded into Boeing’s supply chain, which aligns with the delivery of our growth targets for the Aerospace sector.” Shares are trading 25 per cent higher at 10 cents.

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