Stocks of the Hour: Talon Energy, Besra Gold, King River Resources

Company News

by Abbey Phillipps

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Talon Energy (ASX:TPD) and TMK Energy (ASX:TMK) have agreed to consolidate ownership of the Gurvantes XXXV Project. In response, Talon’s Managing Director, Colby Hauser, commented: “This consolidation is a logical transaction and compelling opportunity to create value for both sets of shareholders by unlocking important synergies in the exploration and development of the Gurvantes Project.” Shares are trading 4.35 per cent lower at 22 cents.

Besra Gold (ASX:BEZ) announced that it has received US$10,000,000 from Quantum Metal Recovery. In response, Besra’s Executive Chair, Dato’ Lim Khong Soon, said “Coming on the second anniversary of Besra’s listing, the transfer of the first US$10,000,000 underscores the progress Besra has made since listing and sets the Company up well for its move back into commercial production, unlocking the undoubted potential of our exciting Bau project.” Shares are trading 25.93 per cent higher at 17 cents.

King River Resources (ASX:KRR) announced the completion of its 2023 Geophysics program in the Tennant Creek Region and the allocation of a $2M drilling budget to test resulting targets, commencing 10 November 2023. KRR will generate more drill targets as the processing and interpretation of the 2023 geophysical results continues for the remaining project areas and the market will be updated on these progressively. Shares are trading 20 per cent higher at 1.8 cents.

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