Stocks of the Hour: Moab Minerals, European Lithium, Hot Chili

Company News

by Abbey Phillipps

Moab Minerals announces gold results from Mt Amy Project, WA

Moab Minerals (ASX:MOM) has received strong gold in soil anomaly in the assay results for the sampling they completed in November last year. Moab Managing Director, Mr Malcolm Day, commented: “We are pleased to update shareholders with the results from the gold sampling program completed at Mt Amy in November 2022, with a gold in soil anomaly generated that justifies follow-up sampling to determine the extent of the anomaly.” Shares are trading 10 per cent higher at 1.1 cents.

European Lithium signs non-binding MOU to build hydroxide plant in Saudi Arabia

European Lithium (ASX:EUR) has signed a non-binding MOU with Obeikan Investment Group to build and operate a hydroxide plant in Saudi Arabia for the 100% owned Wolfsberg Lithium Project in Austria. Tony Sage, EUR Chairman, commented: “The JV with Obeikan will allow EUR to focus its efforts on building the facilities to start mining concentrate in addition to benefiting from the JV opportunities.” Shares are trading 4.49 per cent higher at 8.15 cents.

Hot Chili begins next phase of copper-gold growth

Hot Chili (ASX:HCH) announced that drilling has commenced across the recently secured western extension to the Cortadera copper-gold discovery. Importantly, Hot Chili has more than doubled the prospective strike length of the discovery from 2.3km to 5.2km increasing the near term, material resource growth potential for Hot Chili. Shares are trading 8.42 per cent higher at $1.03.

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