Stocks of the Hour: Galileo Mining, RAS Technology, Petratherm

Galileo Mining (ASX:GAL) today provided a drilling update from the Callisto palladium discovery which has intersected massive sulphide mineralisation displaying the potential for high-grade zones within the mineralised system. Galileo’s Managing Director Brad Underwood commented; “Intersecting massive sulphides at the shallow depth of 190 metres downhole is an exceptional result from our first program of diamond drilling at Callisto. It demonstrates how much there is to learn about the larger mineralised system and the up-side opportunities that may present themselves as we continue with our extensive drill campaigns. Shares are trading 32.8 per cent higher at $1.31.

RAS Technology (ASX:RTH) has announced record financial year 2022 results this morning with accelerated revenue growth of $8.33 million, up 57% year on year as the company escalated global expansion plans.The company also announced a series of major partnerships and contracts in the last six months including, an expanded five-year contract with Entain, one of the world’s largest sports betting and gaming groups, valued at $5 million. It also partnered with wagering powerhouse Flutter (the owner of BetEasy, BetFair, Paddy Power, SkyBet, SportsBet, and Timeform) via the group’s advanced-deposit wagering. Shares are trading 4.4 per cent lower at 76 cents.

Petratherm Limited (ASX:PTR) is pleased to report Batch 2 rare earth drill results from the Comet Project located in the Northern Gawler Craton of South Australia . Drilling has defined a major REE occurrence named here the Meteor Prospect. Commenting on these results, PTR’s Exploration Manager Mr Peter Reid said: “These are encouraging results with a significant rare earth zone found with high grades. We see compelling evidence that the Northern Gawler Craton of South Australia is shaping up as a major new province for rare earths. Shares are trading 5.6 per cent higher at 8 cents.
Copyright 2022 – Finance News Network

Source: Finance News Network