Stocks of the Hour: Arizona Lithium, Apollo Minerals, Sezzle

Company News

by Abbey Phillipps

Arizona Lithium (ASX:AZL) a company focused on the sustainable development of the Big Sandy Lithium Project announced the completion of the Scoping Study (“Scoping Study”, “Study”), which has confirmed the Big Sandy Lithium project as being well positioned to become a long-term lithium producer to supply the rapidly growing demand for electric vehicles in North America. The company has cash reserves exceeding $50 million, so is in sound position to further advance with the Project. In response, AZL Managing Director, Paul Lloyd, commented: “Building on the work undertaken by Hazen Research on the initial design basis and flowsheet, the Scoping Study has further advanced the development of Big Sandy, which will be continued at our newly established Lithium Research Centre in Arizona.” Shares are trading 8 per cent higher at 8 cents.

Apollo Minerals (ASX:AON) has today announced a high grade massive sulphide discovery. The assay results confirm a quality of 40% Zinc and Lead - the highest ever grades at the Kroussou Project. In response, Apollo Minerals’ Managing Director, Mr Neil Inwood, commented, “The new style of mineralisation discovered, provides a structural target style which will redefine our future exploration focus. The opportunity for discovery is massive and our excitement is palpable – we believe Kroussou really does have the potential to be a very large, province-scale zinc district.” Shares are trading 8.8 per cent higher at 6 cents.

Sezzle Inc. (ASX:SZL) announced this morning that it has signed a new US$100M receivables funding facility with affiliates of Bastion Management II LLC, as Administrative Agent for the lenders. The new facility will support the Company’s business in the US and Canada, replacing its prior facility with Goldman Sachs Bank USA and Bastion. “We are excited to continue our relationship with Bastion, as they have been a supportive partner,” stated Karen Hartje, CFO of Sezzle. “The new facility positions Sezzle with the necessary liquidity and balance sheet strength to pursue the Company’s growth objectives and achieve profitability.” Shares are trading 11.6 per cent higher at 53 cents.

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