Stocks of the Hour: Tamboran Resources, NOVONIX, ABx Group

Company News

by Abbey Phillipps

Tamboran Resources (ASX:TBN) has increased the Beetaloo Basin 2C gas resources to 2.0 trillion cubic feet. The EP 136 unrisked 1C contingent gas resources increased to 116 billion cubic feet (BCF) and the unrisked 2C contingent gas resources increase to 406 BCF.

NOVONIX (ASX:NVX) has received up to US2.2 million from the Government of Canada used for the Company’s all-dry, zerowaste cathode materials development and pilot line; and a new technology to predict the lifespan of lithium-ion batteries. In response, NOVONIX CEO, Dr. Chris Burns stated, “We expect (government support) to grow, underscoring the increasing need for NOVONIX’s materials technologies and advanced battery testing expertise that support cleaner high-performance materials.”

ABx Group (ASX:ABX) announced that it has been granted two significant exploration licences covering the southwards extensions of the Portrush REE discovery near Launceston in northern Tasmania. In response, ABx Group Managing Director and CEO Mark Cooksey said: “These two large exploration licences significantly increase our rare earths exploration footprint in Tasmania to almost 600 km2, and I look forward to getting on the ground and kicking off our exploration program to locate more ionic adsorption clay rare earth deposits.”

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