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Stocks of the Hour: RareX, West Cobar Metals, Strategic Elements

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RareX (ASX:REE) announced a 500% increase from the 2021 Mineral Resource Estimate, driven by a highly successful 2022 drilling campaign, establishing Cummins Range as the second largest undeveloped Australian rare earths deposit. RareX Managing Director, Jeremy Robinson, said, ““This is an exceptional result which positions RareX at the forefront of the critical minerals sector in Australia. I would like to thank our hard-working geological and project teams for their exceptional efforts over the past few years to get this point. The future for RareX is looking very exciting.” Shares are trading 27.66 per cent higher at 6 cents.

West Cobar Metals (ASX:WC1) has announced more high-grade rare earth clay mineralisation from their drilling at their Salazar Project in WA. In response to the positive news, Non-Executive Chairman, Rob Klug, commented, “These results still represent less than 60% of the total number of drill holes assayed and we look forward to receiving the remaining holes during April.” Shares are trading 35.29 per cent higher at 11.5 cents.

Strategic Elements (ASX:SOR) announced that Energy InkTM technology is on track to exceed the power density of solar technology due to technical breakthroughs in the process of converting moisture into electrical energy. Managing Director Charles Murphy said, “. Success in the short-term development pathway outlined will provide a strong, early indication of the technology’s potential to scale up and power certain larger-scale systems.” Shares are trading 13.64 per cent higher at 12.5 cents.
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Source: Finance News Network