Stocks of the Hour: Matsa Resources, BluGlass, Pilbara Minerals

Company News

by Abbey Phillipps

Matsa Resources  (ASX:MAT) has announced that Matsa’s 2 applications for Special Prospecting Licences at Ratchaburi in western Thailand have been approved by Thailand’s Department of Primary Industry and Mines (DPIM). The 2 newly granted Ratchaburi tenements enable Matsa to advance exploration activities where the company has discovered the Spotted Panther lithium pegmatite prospect. The Ratchaburi Special Prospecting Licences represent the first granted tenements to Matsa for lithium exploration. Shares are trading flat at 2.7 cents.

Global semiconductor developer BluGlass Limited (ASX: BLG) has completed its acquisition of contract manufacturer GaNWorks., following the successful installation and validation of core (GaN) wafer processing equipment at the Company’s laser production fab in Silicon Valley. BluGlass CEO Jim Haden said, “Our acquisition of GaNWorks’ specialist wafer processing equipment, manufacturing process transfer, and experienced GaN engineers will fast-track development and production cycles, and deliver significant cost savings over the long-term.” Shares are trading 3.57 per cent higher at 5.8 cents.

Australian lithium producer Pilbara Minerals Limited (ASX: PLS) has executed an amendment to its existing offtake agreement with Ganfeng Lithium Group and its subsidiary (Ganfeng) which materially increases short and medium term supply of spodumene concentrate to one of the world's leading lithium chemical converters. Pilbara Minerals’ Managing Director and CEO, Dale Henderson, said: “We are delighted to be expanding our valued relationship with Ganfeng, who is one of the world’s leading lithium-ion supply chain participants for lithium production. Ganfeng has extensive capability in the production of battery grade lithium products with over 20 years of industry experience and a rapidly expanding global footprint as a major global supplier. Shares are trading 2.67 per cent lower at $3.64.

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