Stocks of the Hour: Ioneer, Magnum Min & Expl, Asra Minerals, Evergreen Lithium

Company News

by Abbey Phillipps

Ioneer (ASX:INR) has entered an offtake agreement to supply lithium carbonate to Dragonfly Energy. Bernard Rowe, MD and CEO at Ioneer, commented, “As the world’s demand for lithium in electric vehicle and energy storage increases, the need to secure a reliable, sustainable, and domestic source of lithium is critical.” Shares are trading 6.34 per cent higher at 37.75 cents.

In similar news, Magnum Mining & Exploration (ASX:MGU) announced that it has entered into a MOU with Mitsubishi Corporation to supply ore and iron concentrates. Mr Neil Goodman, CEO of Magnum stated, “This MOU gives the Buena Vista Green Iron Project a sound basis for moving forward to a Feasibility Study.” Shares are trading 82.35 per cent higher to 3.1 cents.

Asra Minerals (ASX:ASR) has entered into an option agreement to triple its exploration portfolio in the Leonora region of Western Australia. Asra’s Executive Chairman, Paul Summers commented: “[The area is in a] tenement located adjacent to where Genesis Minerals (ASX: GMD) is leading a resurgence in gold projects to our east, and Delta Lithium (ASX: DLI) and Marquee Resources (ASX: MQR) are finding Rare Earths, to our west.” Shares are flat at 1.1 cents.

Evergreen Lithium (ASX:EG1) announced that lithium pegmatite targets have been identified at their Kenny Project in WA. Chairman, Simon Lill commented: “After a successful IPO listing based primarily on the Company’s flagship Bynoe Project, it is extremely pleasing to remind the market that we have other quality projects.” Shares are trading 3.9 per cent higher at 40 cents.

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