Stocks of the Hour: Arrow Minerals, Tamboran Resources, Dreadnought Resources

Company News

by Abbey Phillipps

Arrow Minerals (ASX:AMD) secures rights to earn a 100% interest in the Simandou North Iron Project through a staged earn-in. In response, Managing Director, Hugh Bresser comments, “[This] enables us to advance our exploration activities and development plans with security and confidence.” Shares are trading 20 per cent higher at 0.3 cents.

Tamboran Resources (ASX:TBN) announced that they have intersected 90-metres of high quality Mid Velkerri B Shale in their Beetaloo Basin asset. In response, Managing Director and CEO, Joel Riddle, said: “Initial data supports our view that the deeper areas in the Beetaloo Basin contain some of the thickest and highest quality B Shale intersected to date in the Beetaloo Basin.” Shares are trading flat at 14 cents.

Dreadnought Resources (ASX:DRE) announced that RC drilling has commenced at the Mangaroon Project, in Western Australia. Drilling is expected to take 1-2 weeks to complete with assay and down hole EM results expected in October 2023. Shares are on trading halt and last traded at 4.1 cents.

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