Stocks of the Hour: Ora Banda Mining, Accelerate Resources, Altium, Way2VAT

Company News

by Abbey Phillipps

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Ora Banda Mining Limited (ASX:OBM) has provided an update on the Riverina underground mining operations that remains the centrepiece of the Company’s DRIVE to 100 Project, targeting production of over 100,000 ounces in FY25. Ora Banda Mining Limited’s Managing Director, Luke Creagh, said: “The team at Riverina, both Ora Banda and Byrnecut, have been doing an outstanding job….. We now have all capital projects complete with ore development continuing and first stopes expected to be mined in March. Shares are trading flat at 23.5 cents.

Accelerate Resources Limited (ASX:AX8) announced the results from an infill and extensional rock chip sampling program at the newly discovered Prinsep Lithium Project (100% AX8). Results from the sampling program confirm the continuity of lithium mineralisation across the mapped width extent of the main northern pegmatite to 60m, and increases the eastern strike extent of known mineralisation by an additional 300m to 1.5km northern pegmatite trend. AX8 CEO Luke Meter commented “these latest assays continue to clearly demonstrate the continuity and potential scale of the Prinsep Lithium discovery in the West Pilbara, which gives us great confidence and momentum as we advance towards our maiden drilling program scheduled for early Q2 this year.” Shares are trading 7.69 per cent higher at 2.8 cents.

Renesas Electronics Corporation (“Renesas”, TSE: 6723) and Altium Limited (ASX:ALU) have entered a Scheme Implementation Agreement for Renesas to acquire Altium for A$68.50 per share, totaling approximately A$9.1 billion in equity value and A$8.8 billion in enterprise value. This acquisition aims to create an integrated electronics system design platform, enhancing collaboration across all design levels and aligning with Renesas’ digitalisation strategy. Shares in Altium are trading 28.77 per cent higher at $66.01.

Way2VAT Ltd (ASX:W2V) (Company or W2V), has launched a new AI-driven automated accounts payable auditing product, AI-AP Compliance, to complement the Company’s existing suite of AI-powered VAT/GST claim and return solutions. Way2VAT CEO and Founder, commented, “Our new automated product is the first of its kind, building on our existing technology platform to perform a full audit of all accounts payable and VAT/GST invoices across 80 countries for clients.” Shares are trading 14.29 per cent higher at 1.6 cents.

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