FINWIRES · TerminalLIVE
FINWIRES

Encounter Resources' Updated Mineral Resource Estimate Confirms Aileron as 'Globally Significant' Undeveloped Niobium Deposit, Says Euroz Hartleys Niobium Deposit, Says Euroz Hartleys

By

Encounter Resources' (ASX:ENR) updated mineral resource estimate for its Aileron project in Western Australia confirms the project as a "globally significant" undeveloped niobium deposit, said Euroz Hartleys in a Wednesday note.

The company on Wednesday said its combined, inferred mineral resource estimate at Aileron grew 54% to 120 million tonnes at 0.8% grade of niobium pentoxide.

The research firm said the company continues to screen attractively on a resource basis compared with its peers, with meaningful scale now established at both bulk tonnage and high-grade subsets.

Euroz Hartleys maintained its speculative buy rating on Encounter Resources and lowered its price target to AU$0.85 from AU$0.95.

The company's shares rose almost 2% in recent Thursday trade.

Related Articles

Asia

Strike Energy Reports Smooth Progress at Western Australia Well; Shares Fall 4%

Strike Energy (ASX:STX) has safely cased the intermediate section of its Walyering West-1 exploration well at 2,596 meters and is continuing drilling at 2,670 meters within the Cattamarra coal measures, marking steady progress in its fully owned L23 license, according to a Thursday filing with the Australian bourse.The well is planned to be drilled to a total depth of around 3,639 meters to assess the reservoirs in the Cattamarra formation, followed by wireline logging operations, per the filing.Initial results are expected in early May, and if successful, the well will be cased and suspended for further testing, including possible production evaluation, the filing added.The company's shares fell 4% in recent Thursday trade.

ASX:STX
Asia

Litian Pictures Raises HK$10 Million From Share Placement

Litian Pictures (HKG:9958) raised about HK$10.3 million in net proceeds from a placing of new shares under a general mandate, according to a Wednesday Hong Kong bourse filing.Shares of the film production company were down nearly 2% in late morning trade on Thursday.The company issued 68 million new shares at HK$0.156 each, representing about 13.6% of its enlarged share capital.Net proceeds will be used for general working capital for the group's existing business and are expected to be fully utilised by the end of the year, the company said.

HKG:9958
Asia

Tovis' Net Attributable Income Jumps 77% in Q1; Shares Decline 4%

Tovis (KOSDAQ:051360) posted first-quarter net income attributable to shareholders of 16.05 billion won, up 77% from 9.07 billion won a year earlier, according to a Thursday filing with the Korea Exchange.The South Korean display models manufacturer's sales jumped 10.4% year over year to 169.8 billion won from 153.8 billion won.Shares of Tovis rose more than 4% in recent trade.

KOSDAQ:051360