Stocks of the Hour: Vulcan Energy Resources, Caspin Resources, Tyranna Resources

sharecafe · May 4, 2023 09:55

Vulcan Energy Resources (ASX:VUL) announced the launch of an underwritten single tranche placement to sophisticated, experienced, professional and institutional investors to raise A$109m. Proceeds from the Placement, together with existing cash, will be used to progress Vulcan's integrated renewable energy and lithium project execution strategy. Shares are on a trading halt, last traded $6.16.

Caspin Resources (ASX:CPN) announced a groundbreaking rare earth discovery, at their Mount Squires project in WA. CEO Greg Miles, commented "An important aspect of these results is that it highlights the potential for rare earth mineralisation throughout the project. We are barely past the start line on assessing this opportunity." Shares are trading 37.29 per cent higher at 40.5 cents.

Tyranna Resources (ASX:TYX) has signed an agreement with Sinomine Resource Group, to secure funding and offtake for in excess of AUD $31m. Joe Graziano, the Chairman of Tyranna commented, "the transaction will secure funding to complete an extensive exploration program at the Namibe Lithium Project which will assist in defining the scale and size of this project for the future development of potentially significant resources." Shares are trading 20 per cent higher at 3 cents.

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Stocks of the Hour: Vulcan Energy Resources, Caspin Resources, Tyranna Resources

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