Stocks of the Hour: Heavy Rare Earths, NickelSearch, Red Mountain Mining

Company News

by Abbey Phillipps

Heavy Rare Earths (ASX:HRE) announced that their metallurgical program has delivered a two-fold grade increase and up to 91.3% extraction of magnet rare earths. Executive Director, Richard Brescianini, said, “our forward program now has its sights firmly set on producing samples of a Mixed Rare Earth Carbonate, the first possible entry point by HRE into the rare earth supply chain.” Heavy Rare Earths will be presenting at our Hidden Gems Webinar series this Friday at 12:30pm, so tune in to hear an extension on this news and further discussions regarding their operations. Shares are trading 20 per cent higher at 12 cents.

NickelSearch (ASX:NIS) has intercepted massive nickel sulphide mineralisation at their Carlingup Nickel Sulphide Project in WA. MD Nicole Duncan, commented: “The hole confirmed the presence of nickel sulphide mineralisation sitting in a structure located at relatively shallow depths of ~145m and starting quite close to surface at ~40m, which is particularly pleasing.” Shares are trading 87.5 per cent higher at 10.5 cents.

Red Mountain Mining (ASX:RMX) announced thick high grade lithium has been discovered from near surface at at its 100% owned Mustang Lithium Project in Nevada, USA. Chairman Troy Flannery commented: “This provides Red Mountain with plenty of confidence going forward as we aim to progress phase 2 drilling targeting the areas further north of our ground, to expand our findings and commence building a lithium resource.” Shares are trading 10 per cent higher at 0.6 cents.

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