Stocks of the Hour: Atlantic Lithium, Findi, Odessa Minerals, Jindalee Resources

Company News

by Abbey Phillipps

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Atlantic Lithium (AIM:ALL, ASX:A11, OTCQX ALLIF) has rejected a non-binding indicative offer from Assore International Holdings to acquire the rest of the shares it does not already own for A$0.63. In response, Neil Herbert, Executive Chairman of Atlantic Lithium, said, “Assore, a major African mining company, has been a leading investor and key contributor to the Company’s success since its listing in London in 2015. We look forward to maintaining our strong relationship with Assore as we progress Ewoyaa towards production.” Neil Herbert Atlantic Lithium Executive Chairman is on this Fridays webinar as mentioned you can register via the SC or FNN website. Shares are trading 32.47 per cent higher at 51 cents.

Findi (ASX:FND) has raised $37.6 million ahead of its TSI India IPO, from leading Indian investment firm Piramal Alternatives. The funds will be allocated with respect to working capital and capital expenditure. Commenting on the news, Findi Chairman Mr Nicholas Smedley said, “Piramal undertook extensive due diligence on TSI India before they made their investment which is a great endorsement for both our business plan and the sector outlook for Findi as a whole.” Shares are trading 35.85 per cent higher at $1.08.

Odessa Minerals (ASX:ODE) announced that their assay results have defined standout drilling targets for Lithium in Pegmatites its Yinnetharra Lithium Project. In response, David Lenigas, Executive Director of Odessa, said, “Odessa’s exploration team have processed thousands of rock chip and soil samples from Lockier Range over the past 6 months and the results have now defined some exceptional lithium rich areas that will be targeted with our maiden drilling programme.” Shares are trading 50 per cent higher at 1.2 cents.

Jindalee Resources (ASX:JRL) announced exceptional metallurgical lithium results from its 100% owned, McDermitt Lithium Project located in Oregon, USA. The lithium grade will now increase 57% higher than the average Mineral Resource grade. Shares are trading 10 per cent higher $1.10.

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