Stocks of the Hour: Patriot Battery Metals, Lynas Rare Earths, Talon Energy

Patriot Battery Metals (TSX.V:PMET, ASX:PMT, OTCQX:PMETF, FSE:R9GA) has entered into a subscription agreement with respect to a private placement of approximately C$109 million in Patriot by Albemarle Corporation. In response, Blair Way, Company President and CEO, commented: “the additional funding will allow us to more aggressively advance the Corvette Property through drilling, permitting, study work and more.” Shares are trading 12.58 per cent higher at $1.70.

Lynas Rare Earths (ASX: LYC, OTC:LYSDY) has signed a follow up contract with the US Department of Defence for the construction of the Lynas U.S. Rare Earths Processing Facility in Texas. In response, Amanda Lacaze, CEO & Managing Director of Lynas said, “Lynas is the only commercial scale source of separated rare earths outside of China and our expertise makes us the ideal partner for the DoD as it addresses supply chain vulnerabilities and strengthens national security.” Shares are trading 4.16 per cent higher at $7.01.

Talon Energy (ASX:TPD) received a revised non-binding indicative proposal from Strike Energy (ASX:STX) which has now been withdrawn. Despite negotiations, both parties failed to reach an agreement on final terms, leading to the withdrawal of the proposal. Shares are trading 15.79 per cent lower at 16 cents.
Copyright 2023 – Finance News Network

Source: Finance News Network