Stocks of the Hour: C29 Metals, EV Resources, Memphasys

Company News

by Abbey Phillipps

C29 Metals (ASX:C29) advises that drilling at their Pocitos 7 project in Argentina has concluded at 420 metres, with a packer test intercepting a deep aquifer from 370-400 metres. In response, Director Jeremy King commented: “We are extremely pleased to intercept brines and have hit a 30m plus aquifer zone at Pocitos 7 and have such a healthy pump rate particularly given the size of the pipe and pump utilised.” Shares are trading 35.9 per cent higher at 26.5 cents.

EV Resources Limited (ASX:EVR) announced that it has entered an agreement for a $25 million investment commitment from Sapphire Global Energy Fund. In response, EV Resources’ Executive Director Navin Sidhu commented, “This facility enables us to draw down when necessary, allowing us to better manage our funding needs, reduce dilution and not be at the mercy of the markets.” Shares are trading 73.3 per cent higher at 2.6 cents.

Memphasys (ASX:MEM) announced that their FelixTM System, an automated device for separating high-quality sperm from a semen sample for IVF procedures, has been found to outperform the most commonly used sperm preparation method. The peer-reviewed papers are expected to enhance commercialisation discussions. Shares are trading 13.3 per cent higher at 1.7 cents.

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