Stocks of the Hour: Black Mountain Energy, Andromeda Metals, Qantas

Company News

by Abbey Phillipps

Black Mountain Energy (ASX:BME) has sold its Half Moon Prospect for A$10.7m to Tap Rock Resources III. Commenting on this announcement, Executive Chairman Rhett Bennett, said: “Funds will be used to progress the Company’s flagship project in the Canning Basin, which has the potential to be an incredibly large resource.” Shares are trading 33.33 per cent higher at 2.8 cents.

Andromeda Metals Limited (ASX:ADN) announced a Definitive Feasibility Study (2023 DFS) for their world-class, high quality Great White Deposit. The NPV increases by 65% and average EBITDA increases by 59% to $130 million. Shares are trading 17.86 per cent higher at 3.3 cents.

The Qantas Group (ASX:QAN) has today announced the final piece of its jet fleet renewal program with a firm order for 24 aircraft to progressively replace its existing A330s. Qantas Group CEO Alan Joyce said: “[the aircrafts] will unlock new routes and better travel experiences for customers, and new jobs and promotions for our people.” Shares are trading 1.38 per cent higher at $6.26.

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