Stocks of the Hour: Mt Monger Resources, IVE group, Dateline Resources

Company News

by Abbey Phillipps

Mt Monger Resources (ASX:MTM) announced that it will acquire an advanced carbonatite Rare Earth project in Canada from TSX listed Geomega Resources. In response, Managing Director Lachlan Reynolds commented, “This is a further strategic investment by the Company into the rare earth element sector, which we believe has very positive long-term demand outlook due to the global clean energy transition.”Shares are trading 40 per cent higher at 10.5 cents.

IVE group (ASX:IGL) has announced their financial results for the six months to 31 December 2022. Revenue is up 31%, EBITDA is up 17.7% and NPAT is up 16.5%. In response, CEO Matt Aiken stated, ““The first half result was ahead of expectations, underpinned by a strong performance across the Group.” Shares are trading 3.7 per cent higher at $2.68.

Dateline Resources (ASX:DTR) has agreed with US company MW Sorter to combine Dateline's Gold Links mine and Lucky Strike processing plant with MW's stockpiles at the London and Hock Hocking mines. In response, Dateline’s Managing Director, Stephen Baghdadi, commented: “When we commenced the search for a joint venture partner for Gold Links, we sought a partner that had both financial capabilities as well as US operating experience.”Shares are trading 11.5 per cent higher at 2.9 cents.

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