Stocks of the Hour: BluGlass, Alchemy Resources, Avenira

21Sep

Stocks of the Hour: BluGlass, Alchemy Resources, Avenira

 

Global semiconductor developer BluGlass (ASX:BLG) today advised that its Silicon Valley production fab now has several operational manufacturing processes for GaN laser diode development and is contributing to the Company's technical roadmaps. GaN wafers shipped from BluGlass Silverwater facility have commenced front and back-end processing steps in the Silicon Valley fab, complementing and accelerating the company's contract manufacturing development. Executive Chair, James Walker commented “This will enable us to speed development and iteration testing of core components of our laser diode products, while reducing our reliance on third party contract manufacturers. Faster development turns are essential for BluGlass to meet our reliability targets ahead of launching beta products to market.” Shares are trading 10.3 per cent higher at 3 cents.

Alchemy Resources(ASX: ALY) today announced it has received assay results for its infill soil sampling at the 100% owned Karonie Project in Western Australia. Chief Executive Officer Mr James Wilson commented: “This latest round of results continues to validate our exploration strategy at Karonie. It demonstrates the excellent potential for further success in lithium focussed exploration. The soil anomalies remain open in all directions so there’s excellent upside to grow the scale of this target. Shares are trading 4.8 per cent higher at 2 cents.

Avenira (ASX:AEV) today advised it has signed a non-binding MOU with world leading LFP battery manufacturer, Advanced Lithium Electrochemistry (Aleees) and the Northern Territory Government to investigate and work towards the development of a Lithium Iron Phosphate battery cathode manufacturing plant in Darwin leveraging the company’s flagship Wonarah Phosphate Project. It is expected that the MOU will open the door for Avenira to learn about LFP battery cathode manufacturing technology and leverage the experience to optimise the production of phosphoric acid and develop downstream assets to produce Australia’s first LFP pre cursor cathode material. Shares are trading 40 per cent higher at 1 cent.
 
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Source: Finance News Network

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