Stocks of the Hour: Pancontinental Energy, Arizona Lithium, Latin Resources

Company News

by Abbey Phillipps

Pancontinental Energy (ASX:PCL) announced an extension has been granted for a second one-year period to the current, four-year period of their offshore Petroleum Exploration Licence.
Pancontinental Technical Director Mr Barry Rushworth commented: “We are pleased that the Minister for Mines and Energy in Namibia has seen fit to allow the PEL 87 Joint Venture additional time to complete its exploration program in the Initial Exploration Period of the licence.”  Shares are trading 23.1 per cent higher at 0.8 cents.

Arizona Lithium Limited (ASX:AZL) announced that it has entered into a Strategic Alliance with Navajo Transitional Energy Company. The Terms Sheet outlines how NTEC will manage the development of Big Sandy. Managing Director, Paul Lloyd, said: “NTEC will take over the operational development of Big Sandy and will manage all aspects of the Project.” Shares are trading 4.9 per cent higher at 7.5 cents.

Latin Resources (ASX:LRS) has announced that their ongoing testwork continues to demonstrate exceptional high grade concentrates at their Salina’s Lithium Project. The results show excellent consistency across the width and depth of the known ore body. Latin Resources’ General Manager of Geology, Tony Greenaway, commented, “We intend to progress this into bulk pilot plant testwork, where we will optimise the flowsheet for the detailed PEA program that is planned to be completed by SGS in the first quarter next year.” Shares are trading 6.9 per cent higher at 15.5 cents.

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