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Stocks of the Hour: Mamba Exploration, Globe Metals & Mining, Walkabout Resources

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Mamba Exploration (ASX:M24) has announced that their drilling has identified wide clay rare earth elements at their Hyden Project in WA. In response, Managing Director, Mike Dunbar said, “While we are surprised by the width and consistency of the mineralisation, it is also surprising that the mineralisation is so shallow, with little or no surficial cover over the clay mineralisation.” Shares are trading 86.67 per cent higher at 14 cents.

Globe Metals & Mining (ASX:GBE) has announced that the Malawi Government approves MDA for the development of their Kanyika Niobium Project. Globe Chairperson, Alice Wong, commented, With this ultimate approval and final agreement in place, all parties concerned can now focus their efforts and resources on making the Kanyika Project the first niobium mine in Africa.” Shares are trading 19.05 per cent higher at 10 cents.

Walkabout Resources Ltd (ASX:WKT) has signed a term sheet with Gemcorp, an emerging fund manager, for up to US$25 million to complete construction of the Lindi Jumbo Graphite Mine in Tanzania. CEO of Walkabout Resources, Andrew Cunningham commented; “Having Lindi Jumbo more than 85% complete to cost prior to the first drawdown, provides a significantly different base for project debt than any of the prior arrangements.” Shares are trading 18.18 per cent higher at 13 cents.
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Source: Finance News Network