Stocks of the Hour: Radiopharm Theranostics, Mineral Resources, Black Rock Mining

Radiopharm Theranostics (ASX:RAD) has announced that FDA has granted Orphan Drug Designation for its DUNP19 technology for the treatment of osteosarcoma. The Designation can be granted by the FDA for a drug or biologic product with the potential to diagnose, prevent or treat rare diseases and conditions. Recipients of the designation receive benefits and incentives including tax credits for qualified clinical trials, exemption from user fees and a potential seven years of market exclusivity following the drug’s approval. Shares are trading 8.8 per cent higher at 18 cents.

Mineral Resources (ASX:MIN) has confirmed speculation in the Australian Financial Review that is considering a potential listing of its lithium business. MinRes has investment bank JPMorgan working on the plan, which could see it float its lithium mining and processing operations in a separate entity on the New York Stock Exchange. The potential move comes only months after MinRes restructured the company into four operating pillars – mining services, iron ore, lithium and energy. Shares are trading 11.2 per cent higher at $69.99.

Tanzanian graphite developer Black Rock Mining Limited (ASX:BKT) today announced that its 84% owned Tanzanian subsidiary, Faru Graphite Corporation Limited (Faru), has signed a Conditional Framework Agreement with US-based Urbix for material from Module 2 of the Mahenge Graphite Project . Commenting on the transaction, Black Rock CEO, John de Vries, said: “Signing this Agreement with Urbix is potentially transformational in the context that we are developing an additional USA and European option for the processing of Black Rock’s graphite into battery applications. Shares are trading 20.7 per cent higher at 18 cents.
 
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