Stocks of the Hour: Greenstone Resources, Chase Mining, XTEK

Company News

by Abbey Phillipps

Greenstone Resources (ASX:GSR) has announced a shallow high-grade bonanza at its flagship Burbanks Gold Project in Western Australia. The recent JORC Exploration Target shows between 215,000 – 330,000 ounces of contained gold. In response, Managing Director and CEO, Chris Hansen, commented, “these most recent intercepts serve to highlight the potential to significantly increase the resource base at Burbanks over the coming months.” Shares are trading 20 per cent higher at 3 cents.

Chase Mining Corporation (ASX:CML) has announced spherical purified graphite battery anode potential at their Mcintosh project in Western Australia. Preliminary battery anode test work was conducted on 100kg of the McIntosh graphite flake concentrate with test results passing on all early parameters for the battery industry. Shares are trading 15.6 per cent higher at 1.9 cents.

XTEK (ASX:XTE) has received a purchase order from the Commonwealth of Australia’s Department of Defence, totalling A$26.9m, for new Small Unmanned Aerial Systems (SUAS). Scott Basham, XTEK’s Group CEO, said: “XTEK is very pleased to be able to continue to provide Defence with high-end SUAS technology, and this new order for a mixed fleet of advanced AeroVironment drones, will deliver significantly enhanced tactical reconnaissance and surveillance capabilities for Defence.” Shares are trading 13.6 per cent higher at 71 cents.

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